Breast Localization Wire Market

Breast Localization Wire Market Size (2023 to 2028)

The global breast localization wire market is forecasted to grow at 9.12% CAGR from 2023 to 2028. North America is currently leading the global breast localization wire market due to technological advancements, high-economic development, the presence of well-established healthcare infrastructure, and key companies. North America represented around 36% of the world's breast localization wire market. Sometimes there are abnormal areas in breast cancer, and they should be clearly examined for cancer or wholly removed, but these areas are not easily felt like a pile of tests. The mammography department uses a technique called "wire localization" to help surgeons find the area more easily.

MARKET DRIVERS:

The growing breast cancer incidence worldwide is primarily accelerating the growth rate of the global breast localization wire market.

Breast cancer is the most prominent and invading ailment among women these days. Therefore, it is expected that the increasing prevalence among women will drive the growth of the market. As the number of government and non-government reimbursement policies for breast cancer diagnosis, biopsy, and other related medical procedures increases, it is estimated that the adoption of locating breast lesions will be promoted. It is expected that market growth will accelerate as demand for better infrastructure and sanitation facilities increases and awareness increases on the screening of breast cancer. For example, the Australian breast cancer screening program, Breast Screen Australia, offers free screening services for mammography every two years for women 50-74 years of age.

Additionally, factors such as an increase in the usage of oral contraceptives and increased cosmetic surgeries committed by the women like enhancement of breasts are propelling the market's growth rate as per the American Cancer Society and National Cancer Institute in the US, one in every eight women s facing invasive breast cancer. In 2018, nearly 265,000 new cases were developed due to invasive breast cancer to get diagnosed in the US. The number of breast surgeries is growing due to increased cases of breast cancer.  

MARKET RESTRAINTS:

The shortage of oncologists is a significant challenge to the global breast localization wire market. For many years, there is a substantial growth in breast cancer incidences, and expecting continuity in the increment of incidences. The lack of oncologists' growth in emerging countries is hindering the growth rate of the market. Majorly the shortage of trained professionals is a prior and primary challenge facing many market key players. Uncertainty in the regulatory approval process, which many key players face, is hampering the market demand.

Impact of Covid-19 On the Breast Localization Wire Market:

The COVID-19 pandemic affected every market at horrible levels. Unfortunately, the breast localization market is not concerned as much as expected during the forecast period. To maintain social distance in a pandemic, many hospitals are suspending routine breast cancer screening and annual screening programs to minimize patient flow in healthcare centers. Some surgeries and non-essential procedures are postponed in the lockdown period, which impacts market key players.

REPORT COVERAGE:

This research report on the global breast localization wire market has been segmented and sub-segmented based on type, application, and region.

Breast Localization Wire Market - By Type:

• Double Barb
• Single Barb
• Other

Breast Localization Wire Market - By Application:

• Commercial
• Home

Breast Localization Wire Market - By Region:

• North America
  • The U.S.
  • Canada
  • Rest of North America
• Europe
  • UK
  • France
  • Spain
  • Germany
  • Italy
  • Rest of EU
• Asia Pacific
  • India
  • China
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Chile
  • Rest of LATAM
• Middle East
• Africa

Geographically, North America is the most mature regional market for breast localization wire, representing 35.9% of the global market. It is expected that well-established health infrastructures and major US manufacturers will feed regional growth. In addition to the high economic development of the region, technological developments will lead to the market. Regional development is also expected to accelerate with various activities aimed at sensitizing government and private companies. Komen, while also raising awareness of breast cancer in the United States, with the highest level of income available and the unmet clinical results.

As expected, Asia-Pacific is registering a high compound annual growth rate of 15.3% in the forecast period. As the Asia-Pacific region is due to a rise in disposable income level, the increment of awareness of patients and high-unmet clinical needs is the driving factor in the Asia-Pacific region. There is a rapid increase in healthcare infrastructure development, and demand for breast-conserving surgeries provides potential growth in the Asia-Pacific region. Also, with the rapid development of the medical infrastructure and the growing demand for breast-conserving surgery, it is expected that a potential growth platform will be offered for the industry. The market is also driven by factors such as increased medical tourism in emerging APAC countries.

Developing countries like India and China are aware of early diagnosis. Besides, the introduction of advanced products technologically based on precision, security, and profitability is considered a factor of high impact on the market of the methods of the location of mammary lesions.

KEY MARKET PLAYERS:

Companies playing a leading role in the Global Breast Localization Wire Market profiled in the report are SOMATEX Medical Technologies GmbH, C.R. Bard, Argon Medical Devices, Inc., Cook Medical, Cianna Medical, Inc., C.P. Medical, and Others.