Lumpectomy Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4189
Lumpectomy Market size is projected to experience significant growth from 2019 to 2025.
Growing burden of breast cancer across the globe will stimulate global lumpectomy market growth in the upcoming years. According to the World Health Organization (WHO), around 2 million individuals were diagnosed with breast cancer. Also, as per the World Cancer Research Fund, the mortality rate is 12.7 per 100,000 women, making breast cancer more persistent cancer in women. With growing breast cancer cases, the demand for breast surgeries will increase, thereby augmenting the need for lumpectomy surgery.
Rising awareness programs regarding breast cancer and favorable government initiatives will positively impact the market growth. These awareness programs will help women in realizing the importance of receiving early diagnosis and initial treatment through lumpectomy, hence boosting industry growth. Additionally, introduction of new and better breast cancer imaging methods such as 3D tomography will help in accurate and early detection of breast cancer in dense breasts, further enhancing market growth opportunities in foreseeable future.
Increasing adoption of lumpectomy over other radial surgeries will escalate the lumpectomy market growth. However, strict government regulations and high cost will impede the market growth.
Lumpectomy surgical tools category segment will hold a significant share over the forecast years. The growth will be attributed to introduction of advance tools in lumpectomy to reduce the number of breast cancer operation. For instance, MarginProbe launched by Dune medical devices is used for early detection of breast cancer cells and normal breast tissue. Furthermore, Intrabeam and Savi scout are important tools that improve outcome of lumpectomy surgery. Increasing adoption rate of tools to aid the outcome of lumpectomy surgery will assist industry growth.
Ambulatory surgical centers (ASC) will dominate the end-use category over the projected timeframe due to increase in preference of ambulatory surgical centers over hospitals. High rate of breast surgeries performed in ambulatory surgical centers due to several advantages offered including low cost of surgery, and early discharge will assist the industry growth. Moreover, lumpectomy fits well within an ASC setting due to involvement of one or two incisions, minimal blood loss, no drains and a lower risk of anesthesia complications than more complicated surgeries. Aforementioned factors will increase the adoption rate of lumpectomy device in ambulatory surgical centers over the upcoming years.
U.S. lumpectomy market is anticipated to show significant expansion owing to increasing incidence of breast cancer in American women. According to a breast cancer organization, about 41,760 American women are anticipated to die in 2019 due to breast cancer. Furthermore, well-established healthcare infrastructure and awareness programs in the country will positively impact industry growth. For instance, The American Cancer Society introduced a nationwide program to increase the awareness about the benefits of early breast cancer detection and screening mammography. Hence, growing breast cancer prevalence and awareness programs in the country will enhance the business growth in the near future.
India lumpectomy market is expected to grow at a momentous pace due to favorable government initiatives in the region. The Indian government is initiating numerous programs such as the Pink Initiative, leading to increase in awareness of breast cancer, thereby increasing the adoption rates of early cancer detection. Moreover, increase in healthcare expenditure and expansion of product offerings in the region will pose lucrative market growth opportunities over the projected timeframe.
Some of the major market players involved in the global lumpectomy market ClearCut Medical, Dune Medical Devices, iCAD Inc., Novian Health, Carl Zeiss Meditec AG among others. Companies involved are focused on launching new advanced tools to aid the lumpectomy surgeries. Also, firms are implementing various business strategies such as acquisition to expand their breast offerings. For instance, in September 2018, Hologic signed agreement with Focal Therapeutics to boosts the breast offerings of the company.
Lumpectomy Market by Product, 2014-2025 (USD Million)
- Lumpectomy systems
- Lumpectomy surgical tools
Lumpectomy Market by End-Use, 2014-2025 (USD Million)
- Ambulatory surgical center
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- ClearCut Medical
- Vector Surgical
- Dune Medical Devices
- iCAD Inc.
- Novian Health
- Carl Zeiss Meditec AG
- Ranfac Corporation
- Endomagnetics Ltd.
- Cianna Medical
- Focal Therapeutics, Inc.
- Hologic, Inc.
What Information does this report contain?
Customize this Report
Our Market Research Reports Include:
- Market snapshot
- Market Segmentation
- Value Chain Analysis
- Growth Dynamics
- Potential Market Opportunities
- Regulatory Overview
- Technology Evolution
- Innovation & Sustainability
Benefits of Association
Data Coverage & Quality
GMI reports provide the most comprehensive coverage of any focus industry, ensuring a holistic and deep understanding of the market, along with actionable and granular data. We also take pride in our commitment to quality and strive to ensure that our clients get their moneys worth.
Client Trust & Security
GMI maintains strict code of conduct as a business and is committed to ensure that the privacy and trust of our clients are always maintained. As an organization, we also strive to be fully compliant with privacy laws, PCI and information security guidelines.
Our customers rely on us to produce accurate, reliable and timely information. Service orientation is a key mission for us as an organization; our process is guided by the desire to ensure that our clients are provided the best possible solutions in optimal timeframe. GMI stands by its commitment to service, providing timely assistance in both pre-sales and post-sales support for our clients.