Market Trends of Global Gamma Probe Device Industry
This section covers the major market trends shaping the Gamma Probe Device Market according to our research experts:
Parathyroid Surgical Treatment Segment is Expected to Hold a Large Share of the Gamma Probe Device Market
A surgical procedure called a sentinel node biopsy is used to determine whether cancer has spread into your lymphatic system from a primary tumor. The most frequent uses for it are in melanoma and breast cancer evaluations. According to the study titled "Sentinel Lymph Node Mapping in Breast Cancer: Initial Experience of a Multidisciplinary Team" published in the Cureus Journal in April 2022, sentinel nodes are the first to receive lymph-borne metastatic cells, making lymphoscintigraphy and subsequent biopsy a highly reliable method for identifying nodal metastasis, especially in cases of early-stage (I, II) breast cancer. Thus, it is anticipated that the segment growth will be aided by this procedure's ability to analyze breast cancer. However, it is anticipated that rising breast prevalence will hasten segment growth. According to the American Cancer Society updated in January 2022, it is estimated that 287,850 new breast cancer cases are expected in 2022, with 43,250 estimated deaths. There are more than 3.8 million breast cancer survivors in the United States. Breast cancer is the leading cause of death on 103 countries worldwide, and the incidence of breast cancer far exceeds those of other cancers in both developed and developing countries. Therefore, rising breast cancer prevalence is predicted to lead to an increase in the number of breast biopsies, which will increase demand for gamma probe devices over the forecast period and speed up market growth.
Moreover, continuous product development and innovation in gamma probe devices help in boosting the growth of the market. For instance, in April 2022, At the American Society of Breast Surgeons 23rd Annual Meeting, KUBTEC Medical Imaging unveiled the latest and most advanced wireless sentinel lymph node localization technology on the market. The launch of KUBTEC's GammaPRO is the latest development that the gamma probe market has seen in years. Therefore, it is anticipated that increasing technological advancement in product by market players will support market growth.
As a result, the market is driven by all of the aforementioned factors, including the rising prevalence of breast cancer, product technological advancements, and the high demand for gamma probe for diagnostic purposes.
North America is Expected to Hold a Significant Share in the Growth of the Gamma Probe Device Market
North America is expected to hold a significant market share in the gamma probe device market attributing to an increasing number of cancers affecting patients, increasing use of nuclear medicines, and technological advancement with new product launches by major players in this region. Furthermore, increasing healthcare expenditure and the presence of well-established healthcare infrastructure are also fuelling the growth of the overall regional market to a large extent.
According to the Breast Cancer. Org in March 2022, 1 in 8 women in the United States (about 13%) will develop invasive breast cancer over the course of their lifetime. According to the above source, as of January 2022, there are more than 3.8 million women with a history of breast cancer in the United States. This includes women currently being treated and women who have finished treatment. It is believed that using a hand-held gamma probe in conjunction with an intraoperative gamma camera that provides real-time intraoperative images of the sentinel lymph node (SLN) will improve the accuracy of finding the SLN in patients with early breast cancer and more accurately localize the surgical site hence is expected to boost the market growth as rising in breast cancer cases and adoption of the gamma probe devices in the diagnosis and treatment of breast cancer.
However, various strategies adopted by the market players to bring the technologically advanced product into the market are expected to accelerate the market growth. In April 2021, Dilon Technologies Inc., the owner of the Navigator Gamma Probes and a world-class global leader in breast cancer therapy and detection, has acquired all of Dune Medical's assets, including Dune Medical's 'MarginProbe essentially.
Thus, owing to above mentioned factors it is expected to drive market growth in North America region during the forecast period.
