The gamma probe device market is expected to register a CAGR of 7.5% during the forecast period. The market is growing at a good rate attributing to product launches with advanced features in gamma probe devices. For instance, in 2016, Dilon Technologies Inc. product Dilon Navigator 2.0, which is the latest generation of navigator system helps in for sentinel lymph node biopsy.
Moreover, the increasing incidences of breast cancer cases are also one of the major factors that are driving the overall market growth. For instance, according to the World Cancer Research Fund in 2018, there were around 2 million new cases of breast cancer that have promoted the surgical procedure wherein these devices are used for therapeutical and diagnosis purposes and further drives the growth for gamma probe devices.
Furthermore, 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. However, the high cost of gamma probe devices may hamper the market.
Key Market Trends
Mobile Segment is Expected to Hold a Large Share of the Gamma Probe Device Market
- Mobile devices are found to be highly preferred as these gamma probe devices give higher efficacy while maintaining a lower risk of damage. Moreover, continuous product development and innovation in gamma probe devices help in boosting the growth of the market. For instance, Bertin instruments have a product known as Gamma Tracer Spider, which is an ultra-compact self deployable with offering maximum protection.
- Moreover, these mobile gamma probes are also used for parathyroid surgical treatment and sentinel lymph node mapping for diagnosing and thus propelling the market segment.
- In addition, as per Globocan, in 2018, the number of cases of breast cancer worldwide results in promoting surgical procedures. The increasing number of surgical procedures promotes the high demand of gamma probe for diagnostic purposes and hence drive the overall market.
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.
Moreover, high investments in R&D and government support regarding the use of medical isotopes in North America leading to an increase in demand for nucleic medicines and further contributes to the gamma probe market. Furthermore, increasing healthcare expenditure and the presence of well-established healthcare infrastructure is also fuelling the growth of the overall regional market to a large extent.
Some of the companies which are currently dominating the market are Lake Shore Cryotronics Inc., Hologic Inc, Wake Medical, Raditec Medical AG, Thermo Fisher Scientific, Dilon Technologies Inc., Tron Medical Ltd, and Intramedica limaging.
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