The global Radioisotope-guided localization methods market size is expected to reach USD 2,367.3 million by 2028 and register a CAGR of 13.6% over the forecast period, according to the latest report by Reports and Data. Rising prevalence of breast diseases such as breast cancer and breast cysts, and growing public awareness about early diagnosis of breast cancer are key factors boosting global market revenue growth. 

Breast lesion is an atypical change in breast tissue caused by disease or an injury. Some factors such as changing lifestyle, high consumption of oral contraceptives, and increasing number of cosmetic surgeries like breast enhancement can cause breast lesions. Growing need for using lesion localization devices for breast cancer surgeries is increasing demand for various lesion localization procedures. Rising number of government and private reimbursement policies for cancer detection, surgeries, and other procedures, and increasing investments for breast cancer research are fueling global market revenue growth. Moreover, rising demand for improved healthcare services and rising awareness about breast screening are further fueling global market growth. 

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However, stringent regulatory framework for approval processes of various medical products and devices and dearth of trained medical professionals and oncologists in many developing countries are some key factors expected to hamper global market growth during the forecast period. 

Some key highlights from the report:

• Based on type, the wire localization segment is projected to account for significant revenue growth over the forecast period. Wire localization is the most preferred method to detect exact location of lumps. This method is extremely effective, causes minimal scaring, and helps in accurate localization of abnormal tissue. In addition, availability of better reimbursement policies for these devices is fueling market growth. 
• Among the usage segments, the sentinel lymph node identification segment is expected to register rapid revenue growth between 2021 and 2028. Increasing implementation of sentinel lymph node biopsy to diagnose breast cancer in early stage is a major factor fueling segment revenue growth. 
• Among the end use segments, the research institutes segment is expected to register fastest revenue CAGR during the forecast period. Factors such as increasing funds by government and private sectors for breast cancer research and growing need for developing more effective instruments and procures to cater to increasing number of cancer patients requiring surgery and treatment are factors fueling market growth.
• North America is expected to account for largest revenue share throughout the forecast period owing to factors such as increasing prevalence of breast cancer, rising awareness of early diagnosis, growing adoption of latest Radioisotope-guided localization methods, and presence of well-established companies in countries in the region.
• Asia Pacific market revenue is projected to expand at CAGR of 15.5% during the forecast period. Rising prevalence of cancer, increasing healthcare spending, rising investments by government for breast cancer research combined with economic development in emerging countries are some key factors fueling growth of the Asia Pacific Radioisotope-guided localization methods market. 

  Research Methodology:

Reports and Data utilizes a unique approach to research to offer a comprehensive overview of the global Radioisotope-guided localization Methods Market to offer insights into investment opportunities for stakeholders, investors, clients, and businesses to make informed decisions. The report includes SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis to offer a better understanding of the market scenario.

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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.

The growing popularity of over-the-counter medications driving market growth

Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.

Restriction on product launches and R&D activities to hamper the market growth

The imposition of strict government regulations and shortage of funds has put a halt on product launches and R&D activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.

  Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.

Top Companies Profiled in the Report:

Hologic Inc. (US), Laurane Medical (US), Health Beacons, Inc (Australia), Mermaid Medical A/S (Denmark), IZI Medical Products (US), Matek Medical Inc. (Turkey), Tsunami Medical Inc. (Italy), BPB Medica (Italy), Sirius Medical BV (Netherlands), Molli Surgical Inc. (Canada), C.R. Bard, Argon Medical Devices (US), B.D. Company (US), Endomagnetics Ltd. (UK), Health Beacons, Inc. (Australia), Cook Medical, Intra-Medical Imaging LLC (US), IsoAid, LLC (US), Leica Biosystems (Germany), C.P. Medical, SOMATEX Medical Technologies GmbH (Germany), SurgicEye GmbH (Germany), and Ranfac Corporation (US).

  Radioisotope-guided localization Methods Market Segmentation:

Type Outlook:

• Wire Localization
• Radioisotope localization
  • Radioactive-Seed Localization
  • Radio Guided Occult-Lesion Localization
• Magnetic localization
• Electromagnetic localization
• Other localization methods

Usage Outlook:

• Tumor Identification
• Sentinel lymph node Identification
  • Lumpectomy
  • Mastectomy

Regional Outlook:

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Latin America (Brazil, Rest of LATAM)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)

  Frequently asked questions addressed in the report:

• What is the revenue growth rate of the global Radioisotope-guided localization Methods market over the forecast period?
• What are the major factors driving the growth of the Global Radioisotope-guided localization Methods Market?
• What are the key challenges impacting the global Radioisotope-guided localization Methods market growth?
• What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?

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