Global Gamma Probe Device Market, By Modality (Standalone, Mobile), Application (Parathyroid Surgery, Sentinel Lymph Node Mapping), End User (Hospitals, Ambulatory Surgical Centers, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Over the last decade, the high adoption of the gamma probe devices has increased rapidly due to the rising breast cancer cases. The various recent advancements in gamma probe devices with low cost and an increasing preference for minimally invasive image-guided techniques will favor market expansion. However, the inclination towards other alternatives might impede the market and may negatively affect the market's growth.
- Data Bridge Market Research analyses that the gamma probe device market is expected to grow at a CAGR of 8.00% during the forecast period. “Mobile Devices” accounts for the largest modality segment in the gamma probe device market, owning continuous product development and innovation in the generation.
Market Definition
The gamma probe device is basically a non-invasive medical device that is utilized for radionuclide injection into the interstitial space. It is primarily used in breast cancer treatment to locate sentinel lymph nodes, but it is also used in parathyroid surgery. During intra-operation and pre-operation, gamma probe devices allow surgeons to perform radio-guided diagnosis and surgery. The gamma probe device market is being pushed by factors such as product launches with advanced functions, an increase in the occurrence of breast cancers, and a growing awareness among the population about the advantages of gamma radiation over other detection techniques such as X-ray growing adoption amongst patients and its utilization by surgeons.
Gamma Probe Device Market Dynamics
Drivers
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Surging Breast Cancer Cases
The surge in cases of breast cancer across the globe is expected to boost the growth of the market within the forecasted period.
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Awareness Regarding Gamma Radiation Advantages
The advantages of gamma radiation in the techniques to detect using X-rays help accept patients and increase their consumption by surgeons accelerate the demand for gamma probe device across healthcare providers and healthcare payers.
The government and other organizations' increase in breast cancer awareness programs to drive the adoption of these solutions further influence the market. Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the gamma probe device market.
Opportunities
Furthermore, various advancements in healthcare, continuous product development and innovation in gamma probe devices as well as the radio-guided surgeries which involved gamma detection probe helps in minimizing the invasiveness of several diagnostic and therapeutic procedure with maximum benefits for cancer patients extend profitable opportunities to the market players in the forecast period of 2022 to 2029.
Restraints/Challenges
On the other hand, the high cost of gamma probe devices are expected to obstruct market growth. Also, the various factors such as the other alternatives being selected by the patients and expensive procedures involved in the gamma probe devices are projected to challenge the gamma probe device market in the forecast period of 2022-2029.
This gamma probe device market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the gamma probe device market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Gamma Probe Device Market
The global gamma probe device market has grown moderately as a result of the COVID-19 virus outbreak. In addition to this, the growth the susceptibility to the virus among people with a history of chronic diseases has compelled market participants to increase production capacity. Taking this opportunity into account, the market is expected to expand at a scalable rate over the forecasted timeframe.
Recent Development
- In January 2021, the Lightpoint Medical announced that its robotic gamma probe, SENSEI, has received CE mark approval. The product can detect cancer metastasis and sentinel lymph nodes through the lymphatic system.
- In August 2021, the Lightpoint Medical, a leading provider of medical equipment based in the United Kingdom, has partnered with Telix Pharmaceuticals Limited. The latter is a biotechnology firm based in Australia. Under the terms of the agreement, both companies would investigate the use of Telix's TLX599-CDx in conjunction with Lightpoint's SENSEI. They hope to obtain approval for the commercialization of both prostate cancer surgical devices.
Global Gamma Probe Device Market Scope
The gamma probe device market is segmented on the basis of modality, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Modality
- Standalone
- Mobile
On the basis of modality, the gamma probe device market is segmented into standalone and mobile. The mobile devices are expected to capture a significant market share in the market due to the continuous product development and innovation in the generation.
Application
- Parathyroid Surgery
- Sentinel Lymph Node Mapping
On the basis of application, the gamma probe device market is segmented into parathyroid surgery, sentinel lymph node mapping. The sentinel lymph node uptake is sub segmented into breast cancer, melanoma, colon cancer, NSCLC, renal cancer and others. However, the parathyroid surgical is expected to dominate the application segment within the market.
End User
- Hospitals
- Ambulatory Surgical Centers
- Others
On the basis of level of end user, the gamma probe device market is segmented into hospitals, ambulatory surgical centers and others. The hospitals segment is the dominating segment in the end users owing to the increasing thyroid and breast cancer.
Gamma Probe Device Market Regional Analysis/Insights
The gamma probe device market is analyzed and market size insights and trends are provided by country, modality, application and end user as referenced above.
The countries covered in the gamma probe device market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the gamma probe device market because of increasing number of cancers affecting patients, increasing use of nuclear medicines and technological advancement with new product launches by major players in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increasing healthcare expenditure, increasing breast cancer mortality rate and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The gamma probe device market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for gamma probe device market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the gamma probe device market. The data is available for historic period 2010-2020.
Competitive Landscape and Gamma Probe Device Market Share Analysis
The gamma probe device market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to gamma probe device market.
Some of the major players operating in the gamma probe device market are Lake Shore Cryotronics, Inc., Hologic, Inc, WakeMed Health & Hospitals, Raditec Medical AG, Thermo Fisher Scientific, Dilon Medical Technologies, Inc., Tron Medical Ltd, MASEP, ISOTREND spol. s r.o., Nordion (Canada) Inc., UT Health East Texas., Blount Memorial Hospital, Brainlab AG, and Intramedical Imaging, LLC, among others.
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