South America Breast Lesion Localization Methods Market Size, Share & Trends Analysis Report By Type (Wire localization, Radioisotope localization, Magnetic Localization, Others), By Usage (Tumor Identification, Sentinel Lymph Node Identification) and By Country(Brazil, Argentina, Rest of South America) Forecasts, 2024-2032

Market Overview

The South America breast lesion localization methods market size is expected to witness significant growth during the forecast period (2022–2031). Rapid urbanization in these countries has led to a significant migration of people towards urban areas. This has created a need for government and private entities to expand their healthcare infrastructure to accommodate the growing population. Our research findings indicate that government hospitals in these regions lack technology and resources, which has prompted private hospitals to make substantial investments in acquiring advanced equipment to attract more patients and take advantage of the gap in public healthcare services.

The acceptance and usage of breast lesion localization methods, including MRI, ultrasound, and mammography, is contingent upon the healthcare infrastructure of the specific healthcare systems.

Market Dynamics

South America Breast Lesion Localization Methods and Market Drivers

Escalating Rates of Breast Cancer Cases

Changing market dynamics and the rise of IT companies have led to a shift in people's priorities, neglecting their physical well-being. This is evident in the sedentary lifestyles observed, especially among employed women who prioritize convenience over healthy cooking and opt for calorie-dense processed and fast foods. These dietary shifts have contributed to the escalating issue of obesity, a key contributor to rising breast cancer rates. Furthermore, increased alcohol consumption has further amplified the prevalence of this disease.

Rapid Expansion of Health Insurance Coverage

The high cost of cancer treatment poses a substantial obstacle to market expansion. Nevertheless, there has been a marked rise in the acceptance of healthcare insurance plans among individuals. These countries provide some of the most cost-effective healthcare insurance choices globally. Consequently, access to health insurance coverage has improved, mitigating worries about the expenses associated with cancer treatment. Consequently, more individuals are inclined to seek the assistance of oncologists, confident that the financial burden will be partially alleviated.

South America Breast Lesion Localization Methods Market Restraint

Shortfall of Competent Oncologists

The sufficient availability of skilled oncologists is essential for the effective diagnosis, treatment, and care of cancer patients. However, there is a notable scarcity of proficient oncologists who can provide comprehensive and high-standard care. Additionally, access to advanced localization technology is restricted to developed nations due to insufficient healthcare infrastructure in other regions. Furthermore, numerous hospitals offering oncology services lack the equipment and technologies for accurate diagnosis and treatment of breast cancer.

South America Breast Lesion Localization Methods Market Opportunities

Potential for Profitable Expansion in Growing Economies

 Furthermore, these governments offer various incentives to encourage the establishment of new hospitals, such as providing affordable or free land, offering incentives based on the number of patients treated, providing subsidies for treatment costs, and facilitating easy access to loans to procure necessary machinery. As a result, many private players are constructing new hospitals and expanding their networks to establish their brands and strengthen their position in the market.

Regional Analysis

The South American market for breast lesion localization methods is experiencing growth due to the increasing prevalence of breast cancer. Brazil and Argentina are the leading countries in terms of market share. The market is driven by advancements in medical technology, rising awareness about early detection, and government initiatives to improve healthcare infrastructure. In Latin America, breast cancer is the most prevalent cancer among women. Each year, over 115,000 women are diagnosed with cancer, and over 37,000 women diagnosed with cancer pass away. The prevalence and mortality rate is anticipated to double over the next two decades. In the region, aging is one of the most prevalent causes of diagnosis.

The market has witnessed a significant increase in the survival rate over the past five years due to advancements in early diagnosis technology and improved treatment options. The survival percentage has increased from 70% five years ago to 80% today.

Despite an improved survival rate, several Latin American nations lack the necessary healthcare infrastructure to accommodate the rising incidence of breast cancer. Due to late cancer diagnosis, poor economic status of patients, lack of insurance coverage, and a dearth of qualified oncologists in the region, the survival rate in most countries ranges between 60 and 70 percent. For example, in countries such as Peru, Colombia, and Mexico, approximately fifty percent of breast cancer cases are diagnosed at an advanced stage. Late diagnosis hurts the survival rate and significantly raises per-case health expenditures.

Segmental Analysis

The South American breast lesion localization methods market is segmented into type and usage.

By type, it is further segmented into wire localization, radioisotope localization, magnetic localization, and others.

Wire localization dominated the market and is expected to register a CAGR of 15.0% over the forecast period. Wire localization is used to designate the precise location of the lesion, which assists the surgeon in detecting and removing breast lesions if an X-ray reveals multiple lesions. The technique is favored for removing lesions or tumors that are difficult to locate and cannot be felt. In addition, it can be used to remove the smallest possible area, which would be difficult for a surgeon to do without causing obvious harm to the surrounding tissue. The procedure is painless, but some women may experience pressure or vertigo.

Based on usage, it is further segmented into tumor identification and sentinel lymph node identification.

Tumor identification dominated the market and is expected to register a CAGR of 14.2% over the forecast period. A physical examination, or breast imaging, which primarily consists of mammography and a biopsy, is performed to identify tumors. It is commonly performed on women with breast cancer. Mammography utilizes X-rays to image the breast region containing a tumor. In addition, various imaging technologies, such as MRI and ultrasound, are also utilized. Ultrasound is primarily recommended for women under the age of 30.

Recent Developments

• January 2021: Hologic, Inc., an innovative medical technology company focused on improving women’s health, announced and 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.