Market Overview:
A breast cyst is a noncancerous (benign), fluid-filled sac in the breast and it is one of the most common causes of a breast lump. It developed naturally as a result of fluid accumulation inside the breast glands, this is found in women aged 20 to 50 years and it can be single or multiple. A cyst may feel like a grape or water balloon or firm.
Market Size & Growth Rate:
The breast cyst treatment market was valued at USD 530 million in 2021 and is projected to reach USD 865 million by 2027, with a CAGR of 7.3 % over the forecast period 2022-2027. The growth could be attributed to the return of demand to pre-pandemic levels, increasing authorization of novel & innovative medicines, extensive research, disease prevalence, and immunotherapies.
Market Drivers:
Fine-needle aspiration (FNA) segment is expected to drive market growth
- Fine needle aspiration is a type of significant process for the biopsy method and it extracts a small amount sample of breast tissue from the body by introducing a needle into the targeted sample area.
- It is specified in any condition where a mass or fluid sample intends for treatment or diagnosis.
- FNA is used to determine the cell type of abnormal suspicious breast tissue including thyroid nodules, and suspicious skin masses.
- The main benefits of FNA are that it is relatively quick, it rarely requires anesthesia, the skin is not cut, so no stitches are required, and there is usually no scar. Generally, no recovery time is needed after most fine needle aspiration biopsy procedures and in some cases, one can even get the results on the same day.
- The growth in the needle aspiration segment is driven by the increasing incidence of various cancer cases like breast biopsy, lung biopsy, and prostate biopsy.
Market Restraints:
Lack of awareness of breast cysts in developing nations
- The average breast cyst awareness level is still low in developing countries.
- In developing nations breast cysts awareness levels and literacy among women are the main risk factors associated with women’s awareness and knowledge levels
- In addition, identifying the etiology of breast cysts is very difficult in the early stages
- Moreover, the lack of approved treatment options, and insubstantial low infrastructure in healthcare platforms, along with only 20% of health insurance and reimbursements provided in developing countries. it is difficult for people to afford the bills and minimal surgical treatments.
These factors hinder market growth in developing nations.
Market Opportunities:
The majority of the significant breast cyst treatment market players proactively working to develop potential drug products & tools, and acquisitions & mergers to improve breast cyst treatment options.
- In January 2019, IZI Medical Products acquired Cook Medical, a product portfolio of soft tissue biopsy and breast localization needle assets to capture new markets.
- In January 2019, Cianna Medical's merger agreement with Merit Medical Systems, through which Merit medical provided clinical support for research activities of Cianna Medical for commercializing new developments in the market.
- In March 2019, Hologic received CE certification for its LOCalizer wireless radiofrequency identification breast lesion localization system. It is inserted into the patient’s breast nearly 30 days before surgery to determine the exact location of breast lesions before breast tissue or mass removal surgery.
Recent Developments in the Industry:
- In August 2022, AstraZeneca in collaboration with Daiichi Sankyo received FDA nod for Enhertu. the drug which is directed to treat breast cancer patients exhibiting low HER2 protein in their tumors.
- In August 2021, NeoDynamics AB company has launched a product biopsy needle used in the NeoNavia FlexiPulse probe for developing breast cancer diagnosis and treatment.
- In April 2020, Fisher's received FDA approval for an advanced CytoCore fine needle device to treat patients with breast cysts and it has received marketing authorizes across the world.
Market Segmentation:
As per the research analysis, the global breast cyst treatment market is segmented by treatment type into surgeries, fine needle aspiration, radiotherapy, and hormonal therapy by end users into hospitals, clinics, and other
- On the bases of the treatment type, surgeries is one type of treatment for breast cyst. It is necessary to treat or remove a breast cyst in abnormal tissue conditions and it is considerable if an uncomfortable breast cyst recurs after a significant time period. If a breast cyst contains any abnormal blood mass or fluid and exhibits other associated symptoms.
- In case of hormonal therapy segment, using birth control pills like oral contraceptives to control the menstrual cycles of women can reduce the repetition of breast cysts. However, with minimum significant adverse effects, birth control pills or other hormone therapy, like tamoxifen are generally prescribed for women associated with severe symptoms. The stoping hormone therapy after menopause can also help prevent breast cysts.
- Fine-needle aspiration is also one of the main segments used to diagnose and treat a breast cyst to remove all the fluid from the breast cyst during the process.
Geographical Classification:
The global breast cyst treatment market is segmented into major countries including North America, Europe, South America, Asia Pacific, and the Middle East and Africa.
North America Breast Cyst Treatment Market:
The growing awareness regarding breast cancer including breast cysts due to associated programs initiated in the region will enhance the patients toward breast cyst therapeutics. For instance, the center for disease control and prevention is associated with public, private, and non-profit platforms to educate people regarding breast cancer & cysts through various program activities.
In addition, focusing on investment and funding in research and development activities for noval techniques and tools in the treatment type segment of breast cyst diagnostics to propel the growth of the market. For instance, according to the national cancer institute research, around USD 574.9 million was invested for research on breast cancer including breast cysts.
AsiaPacific Breast Cyst Treatment Market:
The growing prevalence of breast cysts in several countries across the asia pacific region is anticipated to have a good reflection on breast cyst therapeutics market growth. A breast cyst is among the most prevalent types of breast disease, causing significant abnormal life among women in asia. Moreover, a large population and growing economy, speed prevalence of breast cysts, and growing investments push market access in key markets such as Japan, China, Australia, Singapore, and India. For example, as per Breast Screen Australia, women aged 50-74 in Australia are required to get free mammography every two years as part of the government's nationwide screening scheme.
The growing popularity of different developing novel treatment deportments in the breast cysts market is enhancing the segment administrations is anticipated to increase in demand during the coming years.
Competitive Analysis:
However, it is expected to grow rapidly in the next couple of years with intense competition among the players and a rising number of cases. A few key players are already being observed adopting strategies, such as collaboration for the development of therapies and drugs, which may make the market crowded with new products in the next couple of years.
Major Companies:
Major key companies which are contributing to the growth of the market include Pfizer, Sanofi, Merck, Teva Pharmaceutical Industries, Bayer AG, Allergan, Johnson and Johnson, Advin Health Care, Becton, Dickinson and Company, Swastik Enterprise, Argon Medical Devices, Inc., Somatex Medical Technologies GmbH, Remington Medical Inc., Hakko co., ltd., Bpb Medica and Others
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