Gamma Probe Device MarketSize and Trends

Gamma Probe Device Market - Driver

New product launches by the key players will fuel the growth of the global gamma probe device market during the forecast period. For instance, in July 2016, Dilon Technologies, Inc., an innovative medical solution provider, introduced new purple Navigator 2.0 gamma probe system for sentinel lymph node biopsy. The system is aided by the features like wireless, simple to operate, exceptional extended life, and the ergonomic stainless steel probes, that can be sterilized by major sterilization methods. Moreover, this company also adopted inorganic strategies such as full service support to the existing Navigator GPS system in the field. Moreover, in year 2016, researchers of École Polytechnique Fédérale de Lausanne (EPFL) developed wireless gamma probe, handle held and light weight, aiming to detect cancer cells and suspicious lymph nodes during surgery. According to International Atomic Energy Agency (IAEA), parathyroid detection is growing fast, while the intraoperative use of gamma probes for direct tumor detection is just emerging.

Moreover, increasing prevalence and high incidence of cancer expected to propel the growth of gamma probe device market. According to World Cancer Research Fund International, breast cancer is most common cancer worldwide in females and second most common cancer of all, with around 1,671,000 new cases diagnosed in 2012. For instance, according to Center of Disease Control and Prevention (CDC), the prevalence of invasive thyroid cancer was 13.5 in 2009 which increased to 14.5 per 100,000 in 2014. Further, according to breast cancer organization, 266,120 new cases of invasive breast cancer were expected to be diagnosed in United States as in year 2018. Further it says, as of January 2018, more than 3.1 million women were present in United States with the history of breast cancer. Moreover, according to Cancer Research UK, UK breast cancer incidence rates are estimated to be the 6th highest in Europe. Additionally, according to National Institute of Health suggest, the number of people living beyond a cancer diagnosis reached nearly 14.5 million in 2014 and is expected to rise to almost 19 million by 2024. These high number of undiagnosed patients will further swell the gamma probe market.

Furthermore, increasing number of cancer surgeries will propel gamma probe device market. For instance, according to article published in 2015 of The Lancet Oncology, of the 15·2 million new cases of cancer in 2015, over 80% of cases will need surgery. The article also estimates global annual number of surgical procedures to be 45 million by 2030. Moreover, according to State of California, the number of cancer surgeries performed in hospitals, Jan – Sep 2015, were – 677 bladder surgery, 2,111 brain, 19,914 breast, 5,456 colon, 264 esophagus, 952 liver, 2,508 lung, 656 pancreas, 4,474 prostate, 1,698 rectum and 744 stomach.

Market Trends

Moreover, increasing occurrence of key trends combined with the growing adoption of gamma probe devices has bolstered the market outlook. For instance, the surge in market trends related to the development of advanced gamma probe systems has drawn significant attention from both investors and healthcare providers alike.