SENTINEL NODE BIOPSY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Sentinel Node Biopsy Market Size and Trends

The global sentinel node biopsy market is estimated to be valued at USD 752.1 Mn in 2024 and is expected to reach USD 1,209.2 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 7% from 2024 to 2031.

Discover market dynamics shaping the industry: Request sample copy

The market is expected to witness lucrative growth over the forecast period owing to rising awareness about minimally invasive cancer staging techniques among patients and doctors. Technological advancements in imaging solutions to detect sentinel lymph nodes accurately is another key factor augmenting the demand for sentinel node biopsy. Adoption of robot-assisted sentinel lymph node biopsy systems will further support revenue generation in the coming years.

Discover high revenue pocket segments and roadmap to it: Request sample copy

Insights By Product Type - Advancements in surgical technology drives surgical instruments segment growth

In terms of product type, surgical instruments segment is expected to contribute the highest market share of 42.1% in 2024 owing to continuous advancements in minimally invasive surgical techniques and devices. Surgical instruments account for over 40% of total product sales as they are essential for performing sentinel node biopsy procedures. Technological developments such as improved energy devices, 3D high-definition imaging integration, and robotics have enhanced the accuracy and effectiveness of sentinel node identification and removal surgeries. 

Insights By Application - Rising breast cancer incidence fuels the segment growth

In terms of application, breast cancer segment is expected to contribute the highest market share of 32.12% in 2024 due to an increasing global prevalence. Breast cancer accounts for nearly 1 in 4 cancer diagnoses among women worldwide each year. Diagnostic kits provide a simplified and streamlined way for pathology labs to examine lymph node samples extracted during sentinel node biopsy procedures. Components such as radioactive tracer injection solutions, blue dye tracers, specimen collection media, and slide preparation kits minimize manual handling and processing requirements. 

Insights By Procedure Type - Preference for minimally invasive options lifts adoption of minimally invasive surgery procedures

In terms of procedure type, minimally invasive surgery is expected to contribute the highest market share of 54.1% in 2024 owing to advantages over open surgery methods. Patients demonstrating a strong preference for minimally traumatic surgical options has propelled the minimally invasive segment growth in recent years. These procedures cause less scarring, reduce recovery times, lessen post-operative pain, and lower the risk of infection or bleeding complications compared to traditional open lymph node dissections. 

Regional Insights

To learn more about this report, Request sample copy

Regional Analysis:

Dominating Region: North America

North America dominates the global sentinel node biopsy industry with an estimated share of 38.2% in 2024. This is driven by factors such as a strong presence of leading pharmaceutical and medical device companies, availability of advanced healthcare infrastructure, and favorable government policies that encourage innovations and research activities in the region.

Fastest-Growing Region: Asia Pacific

The Asia Pacific market exhibits the fastest growth in the sentinel node biopsy industry due to rising healthcare expenditure, growing medical tourism industry, increasing cases of cancer, and rising awareness about disease diagnosis and treatment.

Sentinel Node Biopsy Market Outlook for Key Countries

Advancements in Medical Technology Fuel Sentinel Node Biopsy Growth in the U.S.

The U.S. sentinel node biopsy market benefits from the widespread adoption of cutting-edge medical technologies, which enhance the accuracy and efficiency of sentinel node biopsy procedures. For example, in April 2022, KUBTEC Medical Imaging, a medical technology company, launched its wireless sentinel lymph node localization technology at the 23rd annual meeting of the American Society of Breast Surgeons, highlighting the continuous innovation in the field. The introduction of advanced imaging technologies is expected to further boost the demand for sentinel node biopsies in the country.

Rising Cancer Cases and Technological Advancements Drive Market Expansion in Japan

Japan sentinel node biopsy industry is expected to experience growth during the forecast period, driven by factors such as an increasing number of cancer cases and ongoing advancements in technology. For example, in September 2023, the National Cancer Center of Japan reported around 1,019,000 new cancer diagnoses and 380,400 cancer-related deaths in 2022.

Increased Awareness and Healthcare Spending Boost Sentinel Node Biopsy Market Growth in France

France sentinel node biopsy industry is projected to grow during the forecast period, fueled by increasing awareness about cancer treatments and rising healthcare expenditure. For instance, data from the Institut Montaigne published in January 2022 indicates that France allocates over 11% of its GDP to healthcare.

High Adoption of Advanced Surgical Technologies Supports Market Growth in Germany

Germany sentinel node biopsy industry is supported by high adoption rates of advanced surgical technologies. The German Cancer Society reported in February 2023 that 80% of breast cancer patients receive sentinel node biopsy to assess cancer spread. In December 2022, the German Federal Ministry of Health approved new reimbursement guidelines to support the use of advanced imaging techniques in sentinel node biopsy.

Market Concentration and Competitive Landscape

Get actionable strategies to beat competition: Request sample copy

Top Strategies Followed by the Global Sentinel Node Biopsy Market Players

• Established Players: Leading companies in the global sentinel node biopsy market focus heavily on research and development to drive innovation. They invest sizable portions of their revenue into developing new procedures, medical devices, imaging technologies, and biomarkers that can improve accuracy and outcomes for sentinel node biopsy.
• Mid-Level Players: Companies like Biomérieux are focusing on providing affordable diagnostic solutions. For example, in July 2022, Biomérieux launched a more cost-effective, point-of-care diagnostic test for sentinel lymph node biopsy aimed at hospitals in developing countries. This approach targets underserved markets with cost-sensitive patient populations, which has helped increase access to essential diagnostic services.
• Small-Scale Players: Smaller players such as OncoSyn focus on niche markets, developing highly specific sentinel node biopsy kits for specialized cancer types, like prostate and lung cancer. Their innovative product line, launched in June 2023, addresses the needs of patients in underserved regions where large-scale equipment is less accessible.

Emerging Startups in the Global Sentinel Node Biopsy Market

Innovative Technologies: Startups like LymphoTech, founded in 2021, are pioneering the use of smart sensors to enhance the precision of sentinel node biopsy procedures. LymphoTech's NIRF imaging technology, approved for clinical trials in July 2023, improves sentinel lymph node detection and reduces false-negative rates.

Sustainable Solutions: Startups focusing on sustainability are also emerging in the market. EcoBio Solutions, a company founded in 2022, specializes in biodegradable sentinel node biopsy agents. Their innovative material reduces environmental impact, as traditional biopsy dyes often contribute to chemical waste.

Market Contribution: Microscan Biotech, established in 2021, focuses on providing sentinel node biopsy solutions for rare cancers such as melanoma and non-small cell lung cancer (NSCLC). By developing specialized products that cater to specific oncological needs, Microscan is able to carve out a significant market share in a highly competitive space.

Sentinel Node Biopsy Industry News

• In April 2024, Hologic, Inc., a medical technology company, entered a definitive agreement to acquire Endomagnetics Ltd., a U.K.-based company specializing in breast cancer surgery technologies. The acquisition, valued at approximately USD 310 million, enhances Hologic, Inc.’s capabilities in breast cancer surgery localization and lymphatic tracing with products like the Sentimag platform, Magseed marker, and Magtrace injectables.
• In January 2024, Sahlgrenska University Hospital, one of Sweden's largest hospitals, completed a clinical trial on the use of ultra-low doses of superparamagnetic iron oxide nanoparticles for sentinel lymph node localization in breast cancer patients. The trial, conducted between January 2023 and January 2024, involved 220 participants and aimed at advancing lymphatic tracing methods in breast cancer surgery.

Key Takeaways from Analyst

• The global sentinel node biopsy market is expected to grow steadily, driven by rising breast cancer and melanoma cases. The Asia Pacific region is forecast to be the fastest-growing due to increasing healthcare spending and awareness, while North America will maintain its dominance due to advanced healthcare infrastructure and adoption of cutting-edge medical techniques.
• The market is supported by the benefits of sentinel node biopsies, including accurate staging, minimally invasive procedures, and fewer side effects compared to traditional methods. Additionally, the increasing expertise of surgeons and the rise of one-day surgery centers are contributing to market expansion.
• Opportunities lie in the growth of medical tourism, ongoing research, and new product innovations, including ultrasound guidance systems, radioisotope tracers, and robot-assisted devices. Collaborations with hospitals and surgical centers are also key strategies for market penetration.

Market Report Scope

Market Dynamics

Market Driver - Increasing prevalence of cancer globally

The burden of cancer has been rising dramatically across the globe in recent decades. Various factors such as increasing life expectancy, adoption of unhealthy lifestyle habits, environmental pollution, and others have contributed to this alarming rise. According to the National Cancer Institute, in August 2024, the number of people living with metastatic cancers in the U.S. is projected to rise from 623,405 in 2024 to 693,452 by 2025. As sentinel node biopsy is crucial for detecting cancer spread, the increasing prevalence of cancer is expected to drive market growth in the coming years.

Market Challenge - High costs associated with sentinel node biopsy procedures

One of the key challenges faced by the global sentinel node biopsy market is the high costs associated with the procedures. Sentinel node biopsy requires sophisticated medical imaging equipment, specialized surgical instruments and kits, and highly trained medical professionals to perform the accurate localization and extraction of sentinel lymph nodes. This makes sentinel node biopsy a costly diagnostic option for healthcare providers and patients. The equipment such as gamma probes and lymphazurin used during the surgical procedures add significantly to the overall costs.

Market Opportunity - Growing focus on early cancer detection and treatment

One of the major opportunities for the global sentinel node biopsy market is the growing focus on early cancer detection and treatment. Early detection of cancer, when it is still localized, significantly improves the chances of successful treatment. Sentinel node biopsy provides a minimally invasive method to stage cancer and guide further treatment decisions. It helps detect early metastasis and avoid unnecessary extensive surgery in node negative patients.

Key Stakeholders of Market

What does Growth in the Sentinel Node Biopsy Market Industry mean for Different Stakeholders?

The sentinel node biopsy market has multiple players with varied designations and offers multiple opportunities based on their scope of operations.

Uncover macros and micros vetted on 75+ parameters: Get instant access to report

Market Segmentation

•  Product Type Insights (Revenue, USD Mn, 2019 - 2031)
• • Surgical Instruments
    • Needles
    • Probes
    • Others
  • Imaging Agents
    • Radioactive Tracers
    • Fluorescent Dyes
    • Contrast Agents
  • Diagnostic Kits
    • Equipment
    • Reagents
•  Application Insights (Revenue, USD Mn, 2019 - 2031)
• • Breast Cancer
  • Melanoma
  • Colon Cancer
  • Other Cancers
•  Procedure Type Insights (Revenue, USD Mn, 2019 - 2031)
• • Open Surgery
  • Minimally Invasive Surgery
•  End User Insights (Revenue, USD Mn, 2019 - 2031)
• • Hospitals & Clinics
  • Ambulatory Surgical Centers
  • Diagnostic Centers
  • Research Laboratories
  • Others
• Regional Insights (Revenue, USD Mn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
• Key Players Insights
  • Hologic, Inc.
  • Stryker Corporation
  • Devicor Medical Products, Inc.
  • Boston Scientific Corporation
  • KUBTEC Medical Imaging
  • LabLogic Systems Ltd.
  • SurgicEye GmbH
  • CareWise Health
  • Navidea Biopharmaceuticals, Inc.
  • Intramedical Imaging, LLC
  • GE Healthcare
  • Siemens Healthineers
  • Philips Healthcare
  • Medtronic
  • C.R. Bard, Inc.