Fact.MR – A Market Research and Competitive Intelligence Provider: The global gamma probe devices market is projected to exhibit a CAGR of 10% during the forecast period between 2020 to 2030, predicts Fact.MR.
Hand-Held Gamma Probe Devices to Remain Highly Sought-After Across Hospitals
Fact.MR’s report provides a detailed analysis of the global gamma probe devices market based on the competitive intensity. In addition, the report offers information across leading segments in terms of modality, application, end-user, and region. The study also presents in-depth data regarding opportunities, drivers, restraints, industry developments, and latest trends.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global gamma probe devices market is projected to exhibit a CAGR of 10% during the forecast period between 2020 to 2030, predicts Fact.MR. Increasing usage of these devices for the diagnosis of thyroid disease and sentinel lymph node mapping is anticipated to drive the growth in this market.
Gamma probe devices are hand-held devices used to locate lymph nodes. These are also utilized for Radioactive Seed Localization (RSL) to detect non-palpable and small breast lesions. Radio-guided surgeries that use gamma probes help in lowering the invasiveness of various therapeutic and diagnostic procedures.
Further, increasing prevalence of breast cancer across the globe is likely to propel the market for gamma probe devices in the near future. According to the Centers for Disease Control and Prevention (CDC), breast cancer is considered to be the second-most common cancer among women in the U.S.
Hence, to curb the growing burden of breast cancer and educate the people regarding the benefits of early diagnosis, government in several countries are providing favorable medical policies. On the back of such initiatives, government and private healthcare organizations are increasing the adoption of gamma probe devices, especially across India, the U.S., and China.
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In terms of modality, handheld gamma probe devices are highly sought-after among healthcare professionals. These devices are cost-effective and can be easily operated. Many companies worldwide are also investing in this domain to launch state-of-the-art handheld devices for the healthcare sector.
“Surging popularity of gamma probe devices among surgeons for making small incisions to locate the infected tissue is propelling the sales. To capitalize on this trend, manufacturers are incorporating advanced technologies such as artificial intelligence to increase their revenues,” says a Fact.MR analyst.
Key Takeaways:
- Based on modality, the trolley-mounted devices segment accounts for more than 41% of the market share.
- In terms of end-users, the hospitals segment is dominating the global gamma probe devices market on the back of increasing thyroid and breast cancer procedures.
- By 2030, Europe is expected to account for around 44% of the market share owing to the rising breast cancer mortality rate across the U.K. and Germany.
- The U.S. is expected to spearhead the growth in the North America market owing to the growing prevalence of breast cancer and expansion of healthcare infrastructure.
Growth Drivers:
- Increasing number of hospitals and specialty clinics worldwide is likely to drive the gamma probe devices market revenue growth in the upcoming years.
- Ongoing development of the healthcare infrastructure, especially in developing countries is anticipated to propel market growth.
- Gamma probe devices are wireless and have ergonomic stainless steel probes. Hence, surgeons prefer these devices more than the others as these are easy to use.
Restraints:
- High cost of gamma probe devices across emerging economies might limit the sales.
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Competitive Landscape
The gamma probe devices market is moderately consolidated, opines Fact.Mr. Key companies are focusing on innovative business strategies, such as partnerships, mergers & acquisitions, new product launches, and joint ventures. They are also investing in research & development activities to introduce technologically advanced devices.
For instance,
- August 2021: Lightpoint Medical, a leading medical equipment provider based in the U.K. joined hands with Telix Pharmaceuticals Limited. The latter is a biotechnology company headquartered in Australia. Under this agreement, both companies would explore the usage of Telix’s TLX599-CDx with Lightpoint’s SENSEI. They are aiming to bag approval for the commercialization of both the devices for prostate cancer surgery.
- January 2021: Lightpoint Medical announced that it received the CE mark approval for its robotic gamma probe named SENSEI. The product is capable of detecting cancer metastasis and sentinel lymph nodes through the lymphatic system.
Key Players in the Gamma Probe Devices Market Include:
- Devicor Medical Products, Inc.
- Hologic
- LabLogic Group Holdings
- Danaher Corporation
- Intramedical Imaging
- Crystal Photonics GmbH
- BIODEX
- Oncovision
- Capintec Inc.
More Valuable Insights on Gamma Probe Devices Market
Fact.MR provides an unbiased analysis of the gamma probe devices market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the global gamma probe devices market with a detailed segmentation on the basis of:
Modality
- Handheld Devices
- Benchtop Devices
- Trolley-mounted Devices
Application
- Thyroid Uptake
- Sentinel Lymph Node Uptake
- Breast Cancer
- Melanoma
- Colon Cancer
- NSCLC
- Renal Cancer
- Others
End-user
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
Key Questions Covered in Gamma Probe Devices Market Report
- The report offers insight into the gamma probe devices market demand outlook for 2020-2030.
- The market study also highlights projected sales growth for gamma probe devices market between 2020 and 2030.
- Gamma probe devices market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
- Gamma probe devices market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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