The latest market report published by Credence Research, Inc. “Breast Lesion Localization Devices Market: Growth, Future Prospects, and Competitive Analysis, 2018 -2026” the breast lesion localization devices market was valued at US$ 0.48 Bn in 2017, and is expected to reach US$ 1.34 Bn by 2026, expanding at a CAGR of 13.48 % from 2018 to 2026.
Constant rise in the incidence rates of breast cancer across the globe has catalyzed to the growth of breast lesion localization devices market. Breast cancer remains the most common cancer in the developed and developing countries. As per the American Cancer Society, invasive breast cancer cases accounted for 252,710, in situ breast cancer accounted to 63,410 and 40,610 deaths due to breast cancer were observed in the U.S. in 2017. Cancer Research UK estimated the occurrence of 55,200 new breast cancer cases in 2014 in the U.K which cumulatively accounted for 15% of all new cases.
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The European Union aggressively performs breast cancer screening programs and have mandated the screening by law in all countries under the EU except Bulgaria, Croatia and Slovak Republic. During the course of such screening, small non-palpable lesions are detected at higher frequency. Such detected cases undergo further diagnostic procedures and are characterized as invasive or in situ breast cancer; wherein it becomes necessary to localize these lesions and perform optimized treatment options. Therefore, aggressive screening initiatives being undertaken worldwide act as potential driver for the breast lesion localization devices market.
Market Competition Assessment:
The major players dominating the breast lesion localization products market are Best Medical International Inc., C.R. BARD, Inc., Cianna Medical, Cook Medical, CP Medical, Inc., IsoAid, SOMATEX Medical Technologies GmbH and STERYLAB. Presence of number of industrial players in this market makes it highly competitive and challenging for emerging players to attain market dominance.