Gamma Probe Device Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Gamma Probe Device Market: Snapshot
Notable rise in the number of cancer patients globally is boosting the sales prospects in the gamma probe device market. Furthermore, the market is expected to be driven by increasing number of breast cancers across the globe. Gama probe devices are mainly used in the detection of radiations in patients. Moreover, increase in the product use in parathyroid surgery and sentinel lymph node mapping is projected to push the expansion of the gamma probe device market in the years ahead.
Companies operating in the global gamma probe device industry are increasing cash in-flow toward R&D projects in order to introduce new features and improve overall efficiency of their existing products. Moreover, enterprises in the gamma probe device market are restlessly working to strengthen their product portfolio by launching new products.
Mergers, acquisitions, partnerships, and collaborations are some of the key strategies used by companies in the gamma probe device market in order to expand their production capabilities and regional expansions. These efforts are prognosticated to bolster the gamma probe device market in the years ahead.
The gamma probe device market is estimated to gain lucrative opportunities in the North America region owing to many factors such as presence of robust healthcare industry and considerable number of cancer patients in the region. Moreover, constant technological developments in varied medical equipment by the regional players and growing use of nuclear medicines is expected to augment the North America gamma probe device market in the near future.
The emergence of the COVID-19 pandemic has resulted into exhausted worldwide economy. Moreover, the global healthcare industry has experienced significant burden to provide services to patients. Major companies operating in the global gamma probe device market are focused on strengthening their distribution channels in order to maintain consistent supply of their products.
Gamma Probe Device Market: Overview
Consequent upon tremendous expansion of gamma detection probe technology for the surgical management of numerous malignancies, the use of gamma probe device continues to rise. First developed some 60 years ago, radioguided surgery has particularly served to make an impact on the surgical management of cancer patients. Specifically, radioguided surgery provides real-time information to the surgeon regarding the location and extent of the disease.
Besides this, radioguided surgery involving a gamma detection probe helps to minimize invasiveness of several diagnostic and therapeutic procedures, while at the same time providing maximum benefit to cancer patients. This involves critical use of gamma probe device for therapeutics.
Clinically, radioguided surgery, including the one with gamma probe involves use of radiation detection probe system for intraoperative detection of radionuclides.
An upcoming research report on the gamma probe device market delves into demand dynamics and growth opportunities to provide valuable insights of the said market for the forecast period between 2018 and 2028. Analysis of the gamma probe device market thus provided here is a valuable guide for market stakeholders to make informed business decisions.
Gamma Probe Device Market: Competitive Landscape
The gamma probe device market finds presence of some top-notch medical device companies, depicting a fairly consolidated vendor landscape. Dilon Technologies Inc., Wake Medical Ltd., Intramedical Imaging LLC, Lake Shore Cryotronics Inc., and Berkeley Nucleonics Corporation are companies that hold sway in this market.
Product launch is another key growth strategy observed in the gamma probe device market. For example, in July 2016, Dilon Technologies introduced the latest generation of Navigator system for sentinel lymph node biopsy. The newest generation of Navigator system is completely wireless, reliable for long use, simple to operate, and probes can be sterilized with major sterilization methods.
Besides this, Dilon Technologies committed to provide full service support to existing Navigator GPS in the area. This indicates key players are involved in adopting inorganic growth routes too.
Earlier, Dilon Technologies Inc. acquired Navigator gamma probe business segment of RMD Instruments Corp. – an auxiliary of Dynasil Corporation of America, which indicates practices of mergers and acquisitions in the market.
Following the acquisition, Dilon’s moves ahead for its objectives to expand product offerings for both diagnostic and surgical segments of breast imaging.
Gamma Probe Device Market: Key Trends
Primarily, increasing incidence of cancer is predicted to fuel growth of gamma probe device market. According to statistics of the World Cancer Research Fund International, breast cancer tops among the number of cancers in females worldwide, and is second most common type of cancer. High number of cancer cases that now use nuclear medicine for therapeutics is likely to fuel demand for gamma probe devices.
Product innovations is another key factor fuelling the growth of gamma probe device market.
On the flip side, high cost of therapeutics involving gamma probe technique is a restraint to the growth of this market.
Gamma Probe Device Market: Regional Analysis
North America currently commands leading revenue in the gamma probe device market. Factors such as increasing prevalence of cancer, increasing use of nuclear medicines, and continual technological advancements of medical instruments by key players based in the region push North America to the fore.
Europe trails North America in terms of revenue share in the overall gamma probe device market.
Asia Pacific, however, is anticipated to register notable growth in the gamma probe device market over the forecast period. Increasing use of nuclear medicines on account of spurt in advancements of healthcare practices are likely to fuel growth of gamma probe device market in the region.
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