Automato and Bit.bio Collab on iPSC Production AutomationLaboratory
The market potential for breast reconstruction is set to skyrocket, with a value of almost $465m in 2021 and a projection to grow at a 6.5% CAGR until 2030.
The two main drivers propelling the growth of the global breast reconstruction sector's sales are the rising prevalence of breast cancer, and continued advancements in the availability of reimbursements for these treatments.
“Automata, a highly regarded robotics and automation business supporting laboratories within life sciences, has publicised a collaboration with bit.bio“
In 2020, the WHO estimated that approximately 2.3 million women across the globe received a breast cancer diagnosis. Asian women were statistically more susceptible to the disease at this time, with almost 23% of female diagnoses occurring in this group.
In recent years there has been an influx of public information on breast reconstruction options, which has caused an increase in the quantity of people who consider this possibility after having a mastectomy or another breast cancer operation.
The expense of breast reconstruction treatments has been off-putting in the past, but more and more nations are undertaking reimbursement programmes, leading to an uptake in the number of surgeries.
Typically, just under $6,000 of the cost of a reshaping surgery called pedicled flaps is covered, compared to the free flaps option which usually only warrants $4,3000 of finance.
The availability of effective substitutes, especially non-surgical methods, is arguably the greatest hindrance to the breast reconstruction sector's development.
Another important aspect limiting market expansion is the frequency of products denied market entry due to a deficiency. In the last few years, several alternative reshaping products have been revoked due to flaws or other issues.
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