Lumpectomy Market in Europe 2017-2021

Overview of the lumpectomy market in Europe

According to the lumpectomy market outlook, Technavio’s market research analyst predicts the lumpectomy market in Europe to grow steadily at a CAGR of above 6% by 2021. One of the primary drivers for this market is the rise in the adoption of mammography for early breast cancer detection. Owing to increasing awareness about breast cancer, many people opt for mammography screening procedure. It identifies the formation of tumor cells and tissues in the breast, and along with a breast biopsy, help the physician to determine whether a lumpectomy or mastectomy is required for the removal of the cancerous tissue.  Moreover, in countries like Denmark and Finland government covers the screening program and encourages a number of women to participate. This increases chances for the detection of breast cancer and lumpectomy procedures and helps improve the survival rate of women. The growing number of mammography screening procedures will, in turn, propel the lumpectomy market size during the forecast period.

One of the latest trends gaining traction in this market is the increasing focus of venture capitalists for developing lumpectomy devices. Small and large companies that are present in the market are developing novel technologies to increase the sales and adoption. Consequently, to conduct a clinical trial and to prove the efficiency, companies need to find funding sources or investors. For instance, in June 2014, Dune Medical Devices received the fund in two stages, for the development of MarginProbe System. As a result of this funding from the investors the company was able to development this device, this helped increase the sales of the product in both Europe and the US.

Competitive landscape and key vendors

The lumpectomy market in Europe is highly consolidated due to the presence of established players holding the majority market share across the region. Also, Tier 1 manufacturers in the breast cancer treatment market prefer investing in product development and expansion in growing geographical regions. Strong product portfolios coupled with a focus on R&D will result to increase in market share of companies in the near future.  

Leading vendors in the market are –

• Dune Medical Devices
• iCAD

Other prominent vendors in the lumpectomy market include ClearCut Medical, Hologic, Medtronic, Sanarus, Vector Surgical, and ZEISS.

Segmentation by product and analysis of the lumpectomy market

• Systems
• Surgical tools

The surgical tools segment includes radiation and laser therapy products, implanted devices, clips, and disposable blades. The paradigm shift toward multiple-site applicators in the market will lead to the high growth of this segment in the lumpectomy market in Europe. Currently, the market is focussed on developing products based on the type of accelerated partial breast irradiation (APBI) and its insertion techniques. This factor will significantly increase the lumpectomy market growt.

Segmentation by end-users and analysis of the lumpectomy market

• Hospitals and integrated breast cancer centers
• ASCs

In this market study, analysts have estimated the hospitals and integrated breast cancer centers to dominate the lumpectomy market during the forecast period. The capability of hospitals to procure medical products and consumables in bulk quantity and engage closely with many suppliers, reimbursement authorities, and government organizations is the key factor contributing to the growth of this segment in the breast cancer treatment market. 

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global lumpectomy market?
• What are the key market trends impacting the growth of the global lumpectomy market?
• What are the challenges to market growth?
• Who are the key vendors in the global lumpectomy market?
• What are the market opportunities and threats faced by the vendors in the global lumpectomy market?
• Trending factors influencing the market shares of Europe.
• What are the key outcomes of the five forces analysis of the global lumpectomy market?

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