Breast Lesion Localization Methods Market

Market Overview

The breast lesion localization methods market size is expected to grow at a CAGR of 14.1% between 2021–2029.

Several breast lesion localization methods including MRI, Ultrasound, and mammography, are available globally. However, its acceptance varies depending on the system's healthcare infrastructure. For example, only 60% of the population in Western countries has access to modern diagnosis technologies, compared to less than 5% in other countries such as India and China.

Over 60% of the world's population lives in Asia-Pacific. More than 70,000 women die of breast cancer in this region due to non-treatment, late detection, a lack of appropriate healthcare, and high treatment costs, among other factors. Despite having just 5% of the world's population, the United States controls a sizable portion of the global breast lesion localization methods market. However, cancer and breast lesion diagnosis in the United States is more expensive than in any other country.

Market Dynamics

A Rise in the Breast Cancer Cases to Raise the Demand in the Breast Lesion Localization Methods Market

Every year, more than 2.3 million new instances of breast cancer are identified worldwide. The rate of occurrence is constantly increasing. Over 575,000 cases have been discovered in Europe, with 285,000 cases detected in the United States alone. Despite having fewer than 5% of the world's population, the United States has the highest number of breast cancer patients. The rising occurrence of breast cancer is primarily due to changes in lifestyle, an aging population, obesity, motherhood after the age of 30, and a family history of breast cancer, among other factors.

As market dynamics change, so do people's lifestyles. People ignore their physical well-being while IT corporations expand their market penetration. This is bolstered further by a sedentary lifestyle. As more women enter the labor force, they devote less time to cooking. As a result, they have been observed to consume high-calorie packaged foods and fast food. Obesity is caused by a change in eating habits, one of the major causes contributing to the rise in the incidence rate. Furthermore, increased alcohol intake is fuelling the overall incidence of breast cancer. All these factors are heavily contributing to rising demand for the breast lesion localization methods in the market. 

Shortage of Skilled Oncologists to Hamper the Growth of the Breast Lesion Localization Methods Market

To be able to diagnose, treat, and care for cancer patients, there must be a corresponding number of oncologists to perform these services to keep track of these requirements as the number of cancer cases rises. However, the worldwide industry is experiencing a severe lack of oncologists capable of providing high-quality care to patients. This is true even for industrialized countries such as the United States. For example, the United States has around 12,940 oncologists spread throughout over 1690 oncology offices. In 2021, the country faced a shortfall of at least 2,000 oncologists.

On the other hand, advanced technology penetration is severely limited to industrialized nations because of a lack of adequate healthcare infrastructure. Countries such as India and China house more than a third of the world's population, yet they have fewer specialist hospitals than the United States. This implies a massive mismatch between supply and demand. Aside from that, most hospitals with oncology departments lack the necessary machines and technology to detect and treat breast cancer. This is hindering the growth of the global breast lesion localization methods market.

Emerging Countries to Create New Opportunities for the Breast Lesion Localization Methods Market 

Developing nations such as India, China, Brazil, Mexico, and Colombia provide profitable opportunities for industry participants. More people are relocating to cities as these nations' urbanization accelerates. This has prompted the government and corporate sector to invest in expanding their healthcare infrastructure. According to our results, government hospitals lack the necessary technologies. As a result, private hospitals invest heavily in new technology to attract more patients and benefit from the existing shortfall in public healthcare.

Apart from that, these governments are also providing various incentives for the construction of new hospitals, such as cheap or free land, incentives for each patient's treatment, subsidies on treatment costs, and accessible loan facilities for purchasing necessary machinery, among other things. As a result, many private companies construct hospitals and extend their network to develop their brand and market reach. All of these elements are generating profitable chances for the global breast lesion localization methods market.

Segmental Analysis

The global breast lesion localization methods market is segmented into wire, radioisotope, magnetic, and others. In 2021, the wire localization segment will control 40% of the market, and it is predicted to develop at a 14.3 % CAGR by 2029. Suppose an X-ray reveals more than one lesion. In that case, wire localization is utilized to identify the specific location of the lesion, assisting the surgeon in detecting and quickly removing the lesions.

This is majorly used for removing lesions or tumors that are difficult to locate and cannot be felt by touch. Furthermore, it may be utilized to remove the smallest possible region, which the surgeon would find difficult to perform independently without inflicting apparent harm to the surrounding area. Although the surgery is painless, some women may experience pressure or dizziness.

By application, the global breast lesion localization methods market may be segmented into tumor identification, sentinel lymph node identification, and lymph node identification. The tumor identification segment is expected to develop at a 13.5 percent CAGR during the projection period. A triple test is conducted to identify tumors, which comprises a physical examination of breast imaging, including mammography and biopsy. It is mainly used on women who have breast tumors.

Mammography uses X-rays to create images of the breast region harboring tumors. Besides, several imaging technologies such as MRI and Ultrasound are utilized, and Ultrasound is strongly advised for women under the age of 30.

Impact of covid-19

The COVID-19 pandemic has impacted practically all industries worldwide. It also had an adverse effect on breast lesion localization methods market.  In the first two months of the pandemic, the number of outpatients, the frequency of doctor outpatient visits, the number of patients inwards, and the number of surgery procedures reduced by 80.3%, 50%, 70.6%, and 75%, respectively. This was primarily due to the fear of contracting an infection, stringent lockdown, a lack of public transportation, and a prohibition on interstate travel, among other factors.

All hospitals created extensive protocols for shielding potentially sensitive cancer patients under various scenarios, and non-urgent appointments have been rescheduled to reduce a specific cancer patient's exposure to any health care setting. On the other hand, patients with cancer have experienced delays in getting cancer care, such as follow-up clinic sessions and cancer therapy such as radiation, infusion therapies, and surgical tumor excision. The United Kingdom recently anticipated that delays in diagnosis and treatment might raise breast cancer mortality by up to 9.6% after five years. Hence, the need for breast lesion localization methods is increasing year by year.

Regional Analysis

Significant Growth in North America and Europe 

North America and Europe are leading regions for the breast lesion localization methods market. More than 3.8 million women in the United States live with breast cancer, and more than 281,500 instances are predicted to be detected by the end of 2021. It is estimated that around 13% of women in the United States will acquire breast cancer. According to the WHO, about 49,000 women are diagnosed with non-invasive breast cancer. Compared to India and China, the prevalence of breast cancer in the nation is much greater. Breast cancer, for example, accounts for more than 30% of all diagnosed malignancies in women and is also the leading cause of mortality in women. Every year, about 43,000 women die as a result of breast cancer.

The United States spent more than USD 5.8 billion on breast cancer detection and treatment in 2018. Breast cancer often costs between USD 20,000 and USD 100,000. Russia, Germany, France, Italy, Spain, the United Kingdom, Turkey, and Poland are the worst-affected nations. The increased prevalence is primarily due to a change in lifestyle, a lack of physical activity, alcohol use, weight gain, obesity, a family history of breast cancer, and sociocultural changes such as having children at an older age (over 30), among other factors.

Most developed nations in Europe, including Finland, Spain, Germany, the United Kingdom, and France, have well-established healthcare infrastructure. These countries are also covered by NHS, which provides healthcare coverage to all NHS system citizens. As a result, the region has a high concentration of cutting-edge facilities that aid in the early detection of cancer. The United Kingdom spends around USD 10,000 per case every year, totaling more than USD 323 million on cancer treatment. Hence, the demand for the breast lesion localization methods market is rising in these regions.

Recent Developments

• January 2021 – Hologic, Inc., an innovative medical technology company focused on improving women's health, announced it had completed the acquisition of SOMATEX Medical Technologies GmbH, a leader in biopsy site markers and localization technologies for approximately USD 64 million. The company was previously owned by E-Med Solutions GmbH, Berlin, a group of investors led by German private equity company Westlake Partners.