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Lumpectomy Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI4189

Lumpectomy Market Size is expected to experience a significant rise from 2022 to 2028 driven by the surging prevalence of breast cancer worldwide. According to the WHO (World Health Organization), around 2.3 million women were diagnosed with breast cancer in 2020, causing 685000 deaths globally. The robust presence of favorable government initiatives has made way for a higher number of awareness programs pertaining to breast cancer. However, severe government regulations and the higher costs related to the lumpectomy testing systems may hamper the industry dynamics to a considerable extent.
 

Lumpectomy is primarily a surgery that is performed in order to remove cancer or other abnormal tissues from the breast. It can be considered a premiere treatment option for women that have early-stage breast cancer. Growing preference over other radial surgeries coupled with the emergence of novel and better breast cancer imaging methods, including 3D tomography will propel the lumpectomy market progression.
 

With respect to product, lumpectomy systems accounted for a considerable remuneration owing to increasing adoption by surgeons during lumpectomy procedures. On the other hand, the preference for lumpectomy surgical tools will grow with the influx of various innovations to limit the instances of breast cancer operations.
 

Based on end-use, the demand for lumpectomy procedures in ambulatory surgical centers (ASC) is anticipated to rise through 2028. This can be ascribed to the growing preference for these settings considering their higher popularity in multiple tertiary centers as they are touted to be safe and economical substitutes to inpatient admission. A large number of breast surgeries are performed in these centers in comparison to hospitals given the benefits of early discharge and affordability. Moreover, ambulatory surgery units offer a more effective utilization of health care resources and are found to be suitable in cases of high caseloads.
 

The U.S. is projected to emerge as a major revenue ground for North America lumpectomy market on account of the emerging presence of venture capitalists in the country. The growing prevalence of breast cancer mainly amongst American women has given way to multiple awareness programs. According to U.S. Breast Cancer Statistics, over 281,550 new cases of invasive breast cancer are poised to be diagnosed among women across the U.S. by the end of 2021. Factors like rising technological advancements, improved healthcare infrastructure, and increasing R&D funds for conducting clinical trials will add positive impetus to the regional development.
 

The lumpectomy market is highly competitive and comprises the presence of leading players, including Novian Health, Dune Medical Devices, iCAD Inc., Carl Zeiss Meditec AG (Carl Zeiss AG), and ClearCut Medical, Vector Surgical, Cianna Medical, Endomagnetics Ltd., Focal Therapeutics, Inc. (Hologic), Ranfac Corporation, Hologic, Inc., and Theragenics.
 

Strategic marketing ventures, such as acquisitions, as well as partnerships, are actively implemented by these firms to strengthen their market position. These participants are also working on introducing new advanced tools to sustain competition.
 

For instance, in September 2021, Novian Health Inc. received the Breakthrough Device designation for its Laser System, Novilase®Interstitial from the U.S. Food and Drug Administration. The novelty was also offered approval for its indication for usage in the focal destruction of malignant breast tumors among adult women that require a breast-conserving procedure.
 

Impact of the COVID-19 outbreak on lumpectomy market outlook

The COVID-19 pandemic instigated a massive turmoil in the global economy as it brought the burden of varying degrees of nationwide lockdowns. Its effects were also felt on the lumpectomy industry due to the rising number of hospital admissions to treat the virus. The screening, diagnostic exams, as well as surgical procedures were also severely restricted or postponed in hospitals and breast centers in the U.S. It was reported that over 325,000 projected cases of breast cancer were disrupted in terms of diagnosis and treatment in the country in 2020.
 

The lumpectomy market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2028 for the following segments:

Market, by Product

  • Lumpectomy systems
  • Lumpectomy surgical tools

Market, by End-Use

  • Hospitals
  • Clinics
  • Ambulatory surgical center

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
  • Latin America
    • Mexico
    • Brazil
  • Middle East and Africa
    • South Africa
    • Saudi Arabia

 

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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