Breast Lesion Localization Methods Market Size Analysis and Growth Report - Share, Industry Trends & Forecasts (2024 - 2029)

Market Size and Share Analysis:

Driven by the need for precise and effective detection of breast lesions, the market is poised for growth during the study period. By the localization methods, the magnetic tracers localization is anticipated to have the fastest growth in the market, with USD 72.59 million in 2024. It is expected to witness a CAGR of 5.72% during the forecast period. By end user, the diagnostic segment is expected to have a notable market share in the breast lesion localization market.

Government initiatives aimed at breast cancer screening and awareness are poised to drive market growth in the coming years. For example, BreastScreen WA (BSWA) annually administers over 120,000 mammograms to women in Western Australia. BSWA operates through a State Coordination Unit (SCU), Screening Services (SS), and Assessment Services (AS), offering SCU and SS functions while also conducting breast assessments in various Australian hospitals.

In a similar vein, the World Health Organization (WHO) unveiled its Global Breast Cancer Initiative Framework, aiming to save 2.5 million lives from breast cancer by 2040. Launched in 2023, just before World Cancer Day, the Framework urges nations to adopt health promotion strategies for early detection, timely diagnosis, and comprehensive management of breast cancer. Hence, due to supportive government initiatives promoting early breast cancer detection, the market is poised for growth during the forecast period.

Moreover, bolstered by increased investments from the Australian government, efforts to support early breast cancer diagnosis are set to fuel market growth. As an illustration, the Australian government allocated AUD 9.7 million (USD 6.5 million) for breast cancer screening in its 2022-2023 budget. Additionally, the government has channeled over AUD 4.2 billion into the health workforce, covering primary care, aged care, and hospitals.

Overview of Market Segments Covered:

By localization method, the wire localization segment is anticipated to hold major share of 32.8% with USD 101.31 million in 2024, and it is expected to witness a CAGR of 3.81% over the forecast period. As breast cancer cases rise and awareness of the importance of early detection grows, the demand for wire localization procedures is surging, driven by the method's significant benefits. Wire localization is a highly effective and accurate technique for pinpointing breast lesions. Numerous studies have highlighted its pivotal role in offering preoperative insights into the exact location of impalpable lesions. For instance, as per the article published in April 2024 in the Translational Breast Cancer Research journal, the researchers highlighted that the wire-guided localization (WGL) primary benefits include its straightforward tool requirements and affordability. Dominating the breast lesion localization methods market size, wire localization remains the preferred choice, especially in resource-limited settings. Given its myriad advantages, the demand for wire localization will surge, propelling segment growth in the coming years. Additionally, initiatives like the Global Breast Cancer Conference 2023 (GBCC 2023), organized by the Korean Breast Cancer Society, spotlight the global focus on breast cancer. Such endeavors elevate awareness and bolster the market for wire localization methods.

The breast lesion localization methods market analysis report is segmented by localization method and end user. By localization method, the market is segmented into wire localization, radioisotope localization, magnetic tracers localization, and other localization methods. By end user, the market is segmented into hospitals, ambulatory surgical centres, and diagnostic centers. By end user, the diagnostic center segment in the market is expected to have a notable impact owing to the increase in adoption of advanced breast localization methods in diagnostic centers coupled with increase in influx of patient population.

Regional Market Scope of this Report:

By geography, North America is likely to dominate the market, capturing a significant 41.3% of global breast lesion localization methods market share in 2024. Market research indicates this North America market value will grow to an estimated USD 159.9 million by 2029, witnessing significant growth. North America breast lesion localization market is expected to grow over the forecast period owing to the presence of key market players and their strategic activities, the rise in breast cancer cases, which leads to early diagnosis among population, and a surge in research and development activities to develop advanced breast lesion localization methods. For instance, according to the 2024 report of the American Cancer Society, projections indicate that 310,720 women and 2,800 men will receive a diagnosis of invasive breast cancer in the United States in 2024, which is expected to have a positive impact on the breast lesion localization methods industry in the country. Similarly, according to the Canadian Cancer Society data updated in May 2024, it is estimated that 30,500 individuals will receive a breast cancer diagnosis, representing 25% of all new cases among females in 2024. These cancers mainly affect adults and are more common in men than women. Thus, the high prevalence of breast cancer cases (HCC) is expected to bolster the demand for breast lesion localization methods, which is further likely to augment the market growth in the region over the forecast period.

By geography, the global market of breast lesion localization is segmented into North America (United States, Canada, Mexico), Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific), Middle East and Africa (GCC, South Africa, Rest of Middle East and Africa), and South America (Brazil, Argentina, Rest of South America). Emerging markets, particularly in the Middle East and Asia-Pacific Region, are witnessing increased demand for breast lesion localization methods. As South Korea boosts its demand for minimally invasive breast biopsy methods for breast cancer, the demand for advanced breast lesion localization methods is expected to excel, thereby propelling growth rate in South Korea's domestic market.

Competitive Landscape and Ecosystem Analysis:

Some of the key players in the breast lesion localization methods industry are Hologic Inc., Danaher Corporation (Leica Microsystem), Becton, Dickinson and Company (Somatex Medical Technologies), IZI Medical Products LLC, Merit Medical System, Sterylab S.R.L, Theragenics Corporation (CP Medical Inc.), Elucent Medical Inc., Sirius Medical Systems BV, MDL SRL, Molli Surgical Inc., Argon Medical Devices Inc., Laurane Medical LLC among others. Furthermore, few companies are involved in the collaborations and showcasing research studies for expanding the production capacity, which is likely to drive the market growth. For instance, in February 2024, Hologic, Inc. reaffirmed its dedication to enhancing women's health by presenting groundbreaking research in artificial intelligence (AI) and providing cutting-edge educational initiatives at the European Congress of Radiology (ECR) held in Vienna, Austria. The breast lesion localization methods market is consolidated and consists of a few major players.