As per estimation provided by The American Cancer Society in the U.S. for the year 2020, approximately 276,480 new cases of invasive breast cancer may be identified. Nearly, 48,530 new cases of carcinoma in situ (CIS) could be diagnosed. In addition, more than 42,170 women may die due to breast cancer. In the U.S., nearly 13% women are diagnosed with breast cancer in their lifetime. Converting the given percentage into numerical value, 1 and 8 women may be suffer with breast cancer over the course of their lives.
According to medical professional and experts, risk of breast cancer is proportional to the age factor. Hence, breast cancer is most prevalent among women aged 40 years and above. Rising awareness regarding the breast cancer causes and early prognosis, women are likely to demand for breast retractors.
Further, growing aesthetic procedures such as technological innovations and breast augmentation, for example, lighted retractors and disposable retractors are projected to drive growth of the global breast surgery retractors market.
Moreover, technological advances in the interface and design are likely to facilitate better usability for surgeons. Owing to the above-mentioned factors, the global breast surgery retractors market is estimated to scale at a decent CAGR of 3.3% in the tenure of forecast period (2020-2025).
Plastic Surgery Likely to Lead in Global Breast Surgery Retractors Market
Plastic surgery segment is likely to account for major share in the global breast surgery retractors market. As per data predictions provided by market analyst, the segment is likely to hold two-fifths of the entire breast surgery retractors market.
The plastic surgery is driven by breast lift (mastopexy), breast reduction procedures after pregnancy, and breast augmentation procedures. In tenure of the forecast period, plastic surgery segment is estimated to exhibit CAGR of 3.6%.
Furthermore, plastic surgery segment is anticipated to be followed by the lumpectomy segment. The later segment is likely to clock at modest CAGR of 3.3% in the given forecast period. Growth rate of the lumpectomy segment is attributed to non-hospitalization, effectiveness in prevention of recurrence of breast cancer, and post-surgery recovery. These factors are likely to boost the demand rate for lumpectomy procedures. Registering its growing popularity, the lumpectomy segment is anticipated to hold a quarter of breast surgery retractors market on global level.
Asia Pacific Anticipate to Exhibit Progressive Growth Rate on Back of Favorable Government Initiatives
On the regional basis, North America is anticipated to hold prominent position in the global breast surgery retractors market. As per market analysts, the regional market is likely to account for two-fifth of the entire market. However, the growth prospects seems to be quite stagnant. Rising awareness regarding aesthetic surgeries and growing number of plastic surgeries are propelling the market growth trajectory. North America market is projected to clock at a CAGR of 2.5% in coming years.
Meanwhile, the Asia Pacific market is likely to witness decent growth prospects during the forecast period. The regional market is likely to ramp at a CAGR of 4.3%. The growing incidence of breast cancer and rising awareness regarding treatment of the disease is likely to contribute to the expansion of the regional breast surgery retractors market.
In addition, favorable government initiatives to improve the healthcare infrastructure of developing countries are driving the market growth.