The global breast localization wire market was significantly robust in 2022, and is expected to register a rapid revenue CAGR during the forecast period. High demand for effective medical supplies has been rising substantially, and their adoption across healthcare industries has been increasing in a parallel manner, due to changing market trends and consumption patterns. These factors are expected to continue to support market growth over the forecast period.
Significant rise in the dependency of human lives on medicine has created an unprecedented situation for modern technologies to aim for better innovations in existing healthcare supplies. Breast localization refers to the technique used to detect potential tumors, cancerous tissues, and other abnormalities through a surgical procedure involving the use of biopsy localization wires, which is being widely accepted among healthcare professionals and surgeons around the world. Introduction of novel products with variation in required length and width has significantly reduced the complexity of performing a biopsy on patients.
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The COVID-19 pandemic has placed huge pressure on the production and manufacturing industry, which in turn, has affected the breast localization wire market. There has been sudden decrease in essential supplies, coupled with disruption of supply chains, due to the extended lockdowns imposed in various countries to contain the pandemic. Many private sector firms have been solely dependent on increase in investments to cover their financial losses. However, with reduction and relaxation in quarantine regulations and increasing need for medical supplies, early screening, and elective breast alteration surgeries, the market is expected to recover fast and offer potential growth opportunities for major players.
Global Breast Localization Wire Market: Dynamics
Increasing adoption of biopsy procedures for diagnosing breast abnormalities and cancerous tumors, coupled with the use of high-grade material, are driving revenue growth of the market. Wire-guided localization procedures are being increasingly opted by surgeons, due to better results offered by them with a minimally invasive technique. Increase in the number of patients diagnosed with breast cancer annually across the world, and rising awareness about early detection of breast cancer are increasing demand for breast localization wires. Furthermore, incidence of breast cancer is increasing, due to rise in the use of oral contraceptives, increasing number of women undergoing elective cosmetic surgeries, including breast enhancement, and significant changes in lifestyle and eating habits, which in turn, is expected to raise demand for breast localization wires.
Various advantages associated with wire localization, including accuracy in detection of abnormal tissues, ease in use, minimal scarring, and reduction in removal of healthy tissues, are increasing adoption of breast localization wires, which is expected to drive market revenue growth over the forecast period. High standards set by the Food and Drug Administration (FDA) for approval of only quality class II and III products have positively affected the availability of effective and reliable breast localization equipment. However, uncertain reimbursement policies, dearth of trained professionals, and high costs associated with breast localization procedures might restrict market revenue growth over the forecast period.
Global Breast Localization Wire Market: Regional Landscape
Asia-Pacific accounted for largest revenue share in the global breast localization wire market and is expected to maintain its leading position, due to significant improvement in healthcare infrastructure, rapid urbanization, growing Research & Development (R&D) spending on breast cancer research by governments of various countries in the region, and rising awareness about the importance of early detection of breast cancer in major developing countries, including India and China. The market in North America is expected to register a significantly faster revenue CAGR during the forecast period. Presence of well-established research institutes in the U.S, along with many native manufacturers, are expected to support revenue growth of the market in North America.
Major Players in the Global Breast Localization Wire Market
- Becton, Dickinson and Company
- BPB Medica
- Endomagnetics Limited
- Ranfac Corporation
- Argon Medical Devices
- SOMATEX Medical Technologies GmbH
- Tsunami Medical Inc.
- Leica Biosystems
- CP Medical
- IntraMedical Imaging LLC
- IZI Medical Products
- Sirius Medical BV
- Regional demand and forecast estimation, along with analysis of critical factors expected to influence growth of the industry
- Pricing analysis, manufacturing cost analysis, revenue generation, gross margins, and profit margins are covered in the report
- Analysis of upstream raw materials and downstream buyers
- Competitive landscape benchmarking along with regional mapping
- R&D analysis along with product and technological developments
- Analysis of market drivers, restraints, challenges, and risks with their impact on revenue generation
- Assessment of critical parameters that are likely to influence the global market
Global Breast Localization Wire Market: Segmentation
This report contains forecasts for the market in terms of revenue at the global, regional, and country levels. The report includes analysis of trends in each segment of the market from 2023 to 2032. For this study, has segmented the global breast localization wire market based on product type, usage, end user, and region.
Product Type Outlook (Revenue, USD Billion; 2023 – 2032)
- Double Barb Breast Localization Wire
- Single Barb Breast Localization Wire
Usage Outlook (Revenue, USD Billion; 2023 – 2032)
- Tumor Identification
- Sentinel Lymph Node Identification
End User Outlook (Revenue, USD Billion; 2023 – 2032)
- Research Institutes
Regional Outlook (Revenue, USD Billion; 2023 – 2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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