Gamma Probe Device Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Gamma Probe Device Market Analysis
The gamma probe device market is expected to register a CAGR of 7.5% during the forecast period (2022-2027).
During the early pandemic, the factors such as supply chain disruptions, lockdown restrictions, suspension of non-urgent scheduled visits and hospitalizations, and stringent social distancing norms in the first quarter of 2020 due to which the demand for gamma probe devices was impacted. According to the study titled "Parathyroid surgery during the COVID-19 pandemic: Time to think about the 'New Normal' published in the Elsevier Clinics in August 2020, All elective procedures at the hospital has postponed, with the exception of those considered urgent or medical emergencies. the number of parathyroid operations during the pandemic. Moreover, gamma probes are used for sentinel lymph node detection in early breast cancer. According to the study published in the European Journal Of Breast Health, titled 'Impact of COVID-19 On Breast Cancer Management: A Radiological Perspective from A Tertiary Centre' in February 2021, the coronavirus pandemic has had a significant impact on breast cancer diagnosis and treatment. Due to the aforementioned factors, the market declined during the COVID-10 pandemic, but it is anticipated that it will pick up during the forecast period.
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 Health Organization update in March 2021, breast cancer affected 2.3 million women globally in 2020, with 685,000 fatalities. Breast cancer had been diagnosed in 7.8 million women in the previous five years as of the end of 2020, making it the most common cancer in the world. Moreover, according to Globocan 2020, the new cases reported under breast cancer were 2,261,419 worldwide, and the number of deaths were 684,996 worldwide, with 11.7% and 6.9% shares among all the kinds of cancer, respectively. In order to detect non-palpable and small breast lesions, gamma probes are also used in radioactive seed localization (RSL). As a result, the increasing prevalence of breast cancer is predicted to increase demand for gamma probe devices, which will ultimately accelerate market growth.
Gamma probe device market participants and producers are concentrating on creating new products that incorporate cutting-edge gamma probe technologies into their product offerings. For instance, in January 2022, Lightpoint Medical, a medical device company developing miniaturized surgical tools for advanced intra-operative cancer detection, has received CE Mark approval for SENSEI, the first robotic gamma probe to be commercially available to European hospital systems. Therefore, it is anticipated that the market will grow more quickly over the projected period as a result of market participants actively participating in the launches of technologically advanced products.
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.
Gamma Probe Device Market Trends
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.
Gamma Probe Device Industry Overview
Companies in the global gamma probe devices market are aiming to expand the reach of their products while strengthening their market share through new launches, market acquisitions, and mergers. Market leaders are strategically acquiring small businesses to add to their product offerings in response to the growing demand for gamma probe devices in sentinel lymph node uptake operations. Additionally, manufacturers are concentrating on acquiring companies to expand their global distribution networks and industrial and commercial platforms. 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 imaging.
Gamma Probe Device Market Leaders
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Wake Medical
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Raditec Medical AG
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Thermo Fisher Scientific
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Hologic, Inc
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Dilon Technologies, Inc
*Disclaimer: Major Players sorted in no particular order
Gamma Probe Device Market News
- In May 2022, KUBTEC has signed an agreement to acquire Oncovision's Wprobe technology, a line of wireless gamma probes for sentinel lymph node localization, the gold standard in radio-guided surgery.
- In February 2022, Lightpoint Medical reported that Dr. Doug Adams, a specialist in robotic thoracic surgery at Bethesda North Hospital (part of TriHealth, Ohio) performed a first-in-the-world lung procedure with SENSEI, the company's new miniature robotic gamma probe.
Gamma Probe Device Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Increasing Incidences of Breast Cancer
- 4.2.2 Rising Technological Advancement
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4.3 Market Restraints
- 4.3.1 Cost Effective Alternatives
-
4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Modality
- 5.1.1 Standalone
- 5.1.2 Mobile
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5.2 By Application
- 5.2.1 Parathyroid Surgical Treatment
- 5.2.2 Sentinel Lymph Node Mapping
- 5.2.3 Other Applications
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5.3 By End User
- 5.3.1 Hospitals
- 5.3.2 Ambulatory Surgical Centers
- 5.3.3 Other End Users
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle-East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle-East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Lake Shore Cryotronics Inc.
- 6.1.2 Hologic Inc.
- 6.1.3 Wake Medical
- 6.1.4 Raditec Medical AG
- 6.1.5 Thermo Fisher Scientific
- 6.1.6 Dilon Technologies Inc.
- 6.1.7 Tron Medical Ltd
- 6.1.8 Intramedicalimaging
- 6.1.9 BERTIN INSTRUMENTS
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityGamma Probe Device Industry Segmentation
A gamma probe is a device that contains a scintillation counter which measures and detects ionizing radiation for intraoperative use and these devices are also used for sentinel lymph node mapping, and radioactive seed localization (RSL) to locate small and non-palpable breast lesions, and parathyroid surgery. The Gamma Probe Device Market is segmented by Modality Type (Standalone, and Mobile), Application (Parathyroid surgical treatment, and Sentinel lymph node mapping, Other applications), End User (Hospitals, Ambulatory Surgical Centers, Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
| By Modality | Standalone | |
| Mobile | ||
| By Application | Parathyroid Surgical Treatment | |
| Sentinel Lymph Node Mapping | ||
| Other Applications | ||
| By End User | Hospitals | |
| Ambulatory Surgical Centers | ||
| Other End Users | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle-East and Africa | GCC |
| South Africa | ||
| Rest of Middle-East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Gamma Probe Device Market Research FAQs
What is the current Global Gamma Probe Device Market size?
The Global Gamma Probe Device Market is projected to register a CAGR of 7.5% during the forecast period (2024-2029)
Who are the key players in Global Gamma Probe Device Market?
Wake Medical, Raditec Medical AG, Thermo Fisher Scientific, Hologic, Inc and Dilon Technologies, Inc are the major companies operating in the Global Gamma Probe Device Market.
Which is the fastest growing region in Global Gamma Probe Device Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Gamma Probe Device Market?
In 2024, the North America accounts for the largest market share in Global Gamma Probe Device Market.
What years does this Global Gamma Probe Device Market cover?
The report covers the Global Gamma Probe Device Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Gamma Probe Device Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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