According to the most recent revised industry research from Future Market Insights (FMI), the global gamma probe devices market valued at over US$72. 4 million in 2020 and is expected to have a CAGR of almost 9. 5% during the forecast era (2021-2031).
Gamma probe devices help surgeons identify radiolabeled tissue before surgery for analysis, diagnosis, and radio-controlled operations. A gamma probe device allows the expert doctor to make a smaller incision even while locating the tissues of interest.
The increasing number of thyroid and breast cancer patients and the emerging preference for non-invasive procedures due to a less hospitable and cost-effective solution will also drive the gamma probe devices market.
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Most minimally invasive surgical procedures require gamma probe devices. Innovation in gamma probe devices and improved patient outcomes in minimally invasive surgical procedures are also expected to drive market expansion.
The growing preference for image-guided procedures and recent advancements in cheap gamma probe devices are also expected to drive the expansion of the market during the forecast period.
Gamma probe devices are used in sentinel lymph node mapping in breast cancer and parathyroid surgery. According to the WHO, 2. 3 million women were diagnosed with breast cancer, while 685,000 deaths occurred from the same cause in 2020.
Breast cancer is the fourth leading cause of cancer death in the UK and accounts for around seven of all cancer deaths, according to the UK Organisation for Cancer Research. Diseases such as breast cancer can be prevented if patients are diagnosed at an early stage.
However, only a few key players such as Hologic Inc. , Danaher, BIODEX and Southern Scientific Ltd. are actively involved in the manufacture of gamma probe devices, which will create massive opportunities for other small and giant brands to enter the market. gamma probe devices market.
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Key findings from market research
“The increasing prevalence of breast cancer and the growing awareness of the population about the benefits of gamma radiation in various remedies will drive the market during the forecast period,” says an IMF analyst.
Who wins?
The market for gamma probe devices is relatively consolidated. In this industry, there are several participants, with Hologic, LabLogic Group Holdings and Danaher Corporation being the largest. These corporations have strong product portfolios, product inventions, and business strategies.
These key market players have pursued a wide diversity of business approaches, adding strategic partnerships with other medical device corporations for the commercialization of products and services, as well as collaboration with healthcare establishments for studies and advancements of complex technologies.
In December 2019, Mammotome, a subdivision of Danahera Diagnostics, introduced a new logo identity with an updated look and feel. Mammotome also began dispensing the TruCore TM II automatic trocar biopsy tool in regions.
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About the IMF:
Future Market Insights (market research organization qualified by ESOMAR and member of the Greater New York Chamber of Commerce) provides detailed information on the determinants that are increasing demand in the market. It shows opportunities that will drive market expansion into segments on the base of source, application, sales channel, and end-use over the next 10 years.