SENTINEL NODE BIOPSY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
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. Sentinel lymph node biopsy is an important procedure for staging of cancers like breast cancer and melanoma. It helps determine whether cancer has spread from the primary site to lymph nodes. This minimally invasive diagnostic technique provides critical information to guide treatment decisions for patients. During the procedure, a radioactive tracer or blue dye is injected near the cancer site which travels to the first draining lymph node, known as the sentinel lymph node. Surgeons then remove this lymph node to check for the presence of cancer cells. If sentinel lymph node is cancer-free, it is unlikely that the cancer has spread to other lymph nodes. This reduces unnecessary additional surgery for lymph node dissection.
Market Dynamics:
Market drivers such as rising cancer incidence globally and growing preference for minimally invasive techniques are fueling the demand for sentinel lymph node biopsy. Early and accurate staging of cancers is critical for determining personalized treatment options. Sentinel lymph node biopsy addresses this need in a less invasive manner compared to full lymph node dissection surgery. However, limitations of current radioactive tracers and short shelf life of kits pose a challenge. Also, availability of alternative techniques for lymph node assessment restrains market growth. Going forward, the development of nanoparticle tracers with better detection ability and tracers customized for specific cancer types will expand opportunities.
Key Features of the Study:
- This report provides in-depth analysis of the global sentinel lymph node biopsy market, and provides market size (USD Mn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global sentinel lymph node biopsy market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include 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, and C. R. Bard, Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global sentinel lymph node biopsy market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global sentinel lymph node biopsy market
Market Segmentation
Market Segmentation
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