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Lumpectomy Market size is expected to experience a significant expansion from 2023 to 2032, driven by the surging prevalence of breast cancer worldwide. According to breastcancer.org, an estimated 30% of all new cancer cases detected in women each year in the U.S. are of breast cancer. The robust presence of favorable government initiatives has made way for a higher number of awareness programs pertaining to breast cancer.
Lumpectomy is primarily a surgery performed in order to remove cancer or other abnormal tissues from the breast. It can be considered a premiere treatment option for women having early-stage breast cancer. Growing preference for the procedure over other radial surgeries, in tandem with the emergence of novel and better breast cancer imaging methods, including 3D tomography, will propel the lumpectomy market progression.
However, stringent government regulations and the higher costs related to lumpectomy testing systems may hamper the industry dynamics to a considerable extent. The ongoing supply chain constraints caused as a consequence of the ongoing disturbances between Ukraine and Russia and restricted global trade flows may further lead to a significant rise in commodity prices. This may worsen the rate of inflation globally and may reduce consumer spending capacity while limiting healthcare expenditure. All these factors, in tandem, may negatively impact the industry growth trajectory in the forthcoming years.
lumpectomy market from lumpectomy systems segment is slated to account for a considerable remuneration by 2032, owing to the increased adoption of these systems by surgeons during lumpectomy procedures. On the other hand, the preference for lumpectomy surgical tools will grow with the influx of several technological innovations focused on limiting the increasing instances of breast cancer operations. This, in consequence, will foster product adoption during the estimation period.
Based on end-use, the demand for lumpectomy procedures in ambulatory surgical centers (ASC) is anticipated to rise through 2032. This can be ascribed to a large number of women undergoing breast cancer treatment and surgeries across these facilities considering their higher popularity in multiple tertiary centers. They are touted as safe and economical substitutes for inpatient admission and offer a more effective utilization of healthcare resources and early discharge.
The U.S. is projected to emerge as a major revenue ground for the North America lumpectomy market by 2032, attributed to the strong presence of venture capitalists in the country. The growing prevalence of breast cancer largely among American women, has given way to multiple awareness programs. Factors such as rising technological advancements, improved healthcare infrastructure, and increasing R&D funds for conducting clinical trials will add positive impetus to regional development.
The lumpectomy market is highly competitive and comprises the presence of leading players, including Novian Health Inc., Dune Medical Devices, iCAD Inc., Carl Zeiss Meditec AG (Carl Zeiss AG), ClearCut Medical, Vector Surgical LLC, Cianna Medical, Endomagnetics Ltd. (Endomag), Focal Therapeutics, Inc. (Hologic), Ranfac Corporation (Ranfac Corp.), Hologic, Inc., and Theragenics (Theragenics Corporation).