The global market is expected to enjoy a valuation of USD 86.9 Million by the end of the year 2023, and further expand at a CAGR of 9.8% to reach a valuation of USD 244.3 Million by the year 2033. According to the recent study by Future Market Insights, trolley mounted devices are leading the market with an expected share of about 38.7% in the year 2023, within the global market.
Market Outlook:
| Data Points | Market Insights |
|---|---|
| Market Value 2022 | USD 86.9 Million |
| Market Value 2023 | USD 95.6 Million |
| Market Value 2033 | USD 244.3 Million |
| CAGR 2023 to 2033 | 9.8% |
| Market Share of Top 5 Countries | 52.5% |
| Key Market Players List | Biodex Medical Systems, Inc.; CAPINTEC, INC.; Crystal Photonics GmBH; Devicor Medical Products; Inc (Mammotome); Dilon Technologies, Inc; Gamma Medical Technology; Intramedical Imaging; Intramedical Imaging; KUB Technologies; L'ACN - l'Accessorio Nucleare; Mammotome; NUCLEAR MEDSYSTEMS; Oncovision; and Southern Scientific Ltd. |
The global market for gamma probe devices is being driven by rising public knowledge of the advantages of gamma radiation over conventional detection methods like X-rays, as well as rising patient acceptance and surgeon use of it.
Gamma probe devices support radio guided surgery and diagnosis throughout the pre- and intra-operative phases.
For surgeons, it can be challenging to detect tissues like lymph nodes, tumours, and parathyroid glands within the human body. Therefore, using gamma probe devices properly could enable the surgeon to use a smaller incision to find the desired tissues. Demand will increase during the predicted period due to top cancer centres using gamma probes more routinely.
Increasing focus on product launch by market players, acquisitions they undertake, and surging application in cancer treatments are expected to drive the market growth over the forecast period.
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The market value for gamma probe devices was around 1.4% of the overall USD 6.4 Billion of the global radiotherapy devices market in 2022.
The sale of gamma probe devices expanded at a CAGR of 8.3% from 2015 to 2022.
The market for nuclear medicine has expanded due to the rising incidence of cancer worldwide, opening up enormous potential prospects. Healthcare professionals and regulatory agencies have been under pressure to enhance radioisotope manufacturing for use in therapeutic nuclear medications as the death rate from cancer has increased.
The surgeon and nuclear medicine doctor can employ intraoperative gamma probe systems, which are extremely sensitive, as a guidance to locate the radiolabelled sentinel lymph node.
For RSL, gamma probes are primarily used to find tiny, palpable breast lesions. Over the projection period, expanding use of gamma probes as nuclear medicine in oncology will present manufacturers with profitable prospects.
Market leaders are being prompted by growing demand for gamma probe devices in sentinel lymph node uptake operations to diversify their product offerings through tactical acquisitions of smaller businesses. Manufacturers are also concentrating on acquiring new companies to expand their industrial and commercial platforms and global distribution networks.
Thus, owing to the aforementioned factors, the global gamma probe devices market is expected to grow at a CAGR of 9.8% during the forecast period between 2023 and 2033.
H1-H2 Update
| Market Statistics | Details |
|---|---|
| Jan-Jun (H1), 2021 (A) | 7.86% |
| Jul-Dec (H2), 2021 (A) | 11.03% |
| Jan-Jun (H1),2022 Projected (P) | 7.45% |
| Jan-Jun (H1),2022 Outlook (O) | 7.79% |
| Jul-Dec (H2), 2022 Outlook (O) | 11.52% |
| Jul-Dec (H2), 2022 Projected (P) | 10.99% |
| Jan-Jun (H1), 2023 Projected (P) | 8.97% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | 34↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (-) 6↓ |
| BPS Change: H2, 2022 (O) - H2, 2022 (P) | 53↑ |
| BPS Change: H2, 2022 (O) - H2, 2021 (A) | 49↑ |
Improvements in healthcare infrastructure together with increased medical spending by various government organizations have led to increasing number installations of innovative medical technology. The need for gamma probe instruments would go up as a result.
The use of robotic surgery has been prompted by the growing emphasis on striking a balance between cure and side effects, which calls for accurate target definition and control (intraoperative). Radio guided robotic surgery has recently been made easier with the introduction of DROP-IN gamma probes.
The click-on gamma probe's launch, meanwhile, is seen as a step toward the complete integration of radio guidance in surgery. The tethered (DROP-IN) gamma-probe concept enables the detector to match the degrees of freedom of the robotic instruments and facilitates autonomous control by the operating surgeon. This has been confirmed by robotic-assisted sentinel lymph node procedures and PSMA-guided salvage resection of lymph nodes.
The market for gamma probe devices is seeing profitable growth potential because of these developments.
Principal Consultant
The amount of product recalls and strict governmental controls hampered industry expansion. A company's financial situation, business, and operational outcomes gets negatively impacted by a product recall.
For instance, Devicor Medical Products Inc.’s 14 mm reusable probe called NeoProbe Bluetooth was recalled in April 2019 by Health Canada of the Government of Canada.
Another significant barrier to the market for gamma probe devices is anticipated to be patients' rising preference for cost-effective alternatives.
Only those who can afford the cost of the treatment can choose gamma probe devices. One of the main reasons limiting the growth of the gamma probe devices market is that not many healthcare facilities, such as small hospitals and clinics, can afford the high cost of the equipment.
| Country | The USA |
|---|---|
| Market Share (2023) | 22.1% |
| Market Share (2033) | 19.2% |
| BPS Analysis | -295 |
| Country | Germany |
|---|---|
| Market Share (2023) | 10.7% |
| Market Share (2033) | 9.2% |
| BPS Analysis | -146 |
| Country | UK |
|---|---|
| Market Share (2023) | 6.5% |
| Market Share (2033) | 5.9% |
| BPS Analysis | -68 |
| Country | China |
|---|---|
| Market Share (2023) | 6.7% |
| Market Share (2033) | 7.3% |
| BPS Analysis | 60 |
| Country | France |
|---|---|
| Market Share (2023) | 5.5% |
| Market Share (2033) | 5.2% |
| BPS Analysis | -38 |
The USA is set to dominate the globe with a total market share of about 22.1% in 2023, and is expected to continue to experience the same growth throughout the forecast period.
Major players in the US are concentrating on enhancing throughput, flexibility, and productivity. A rising cancer incidence, increased use of nuclear therapy, and technical advancements with new product debuts have all contributed to the market's expansion in the United States.
The market for nucleic therapies has increased in North America because of significant investments in RD and government support for the use of medical isotopes, which has strengthened the gamma probe sector.
Germany will hold a market share of nearly 10.7% in the global gamma probe devices market in 2023.
According to the research and knowledge department of the European Commission, there were around 2.7 million new cases of cancer, which includes all forms of cancer except non-melanoma skin cancer. Additionally, nearly 1.3 million fatalities occurred in Europe in 2020.
These statistics show that men are disproportionately more impacted by cancer than women, accounting for 54% of new cases and 56% of fatalities. As is commonly known, cancer mostly affects elderly people. The predictions for 2020 indicate that 76 percent of fatalities and 62 percent of new diagnoses occur in people over 65.
The Germany gamma probe device market is also being driven forward by the presence of well-established healthcare players and infrastructure as well as rising regional healthcare spending.
China will hold a share of around 6.7% in the global market, in 2023.
The ageing population within the region, good regulatory environment, adoption of new technologies, and high consumer disposable income, brings the market to expand within China.
The market in China is expected to rise over the next several years as a result of an increase in the frequency of chronic conditions that necessitate for surgical procedures, increasing unmet healthcare demand, and improved healthcare infrastructure.
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Trolley mounted devices are set to hold a share of around 38.7% in the global market, in 2023.
Devices that are mounted on a trolley during procedures considerably increase portability and maneuverability. These tools typically enable data collection, graphical development, patient database organization, and spectrum analysis of any radioactive isotope that may be used. Over the course of the forecast period, these advantages are anticipated to contribute to the growth in the segment value for trolley-mounted devices.
Sentinel lymph node uptake applications are set to hold a market share of around 55.9% in the global market in 2023.
A sentinel node biopsy or sentinel lymph node biopsy (SLNB) is a surgical procedure for cancer patients. This procedure involves removal of the sentinel nodes, later transferred to a lab to be checked for malignant cells. A gamma probe is used during SLNB procedures as a tool to detect radiation in patients. It is mostly used in surgery and functions something like a tiny, directional Geiger counter. Sentinel node biopsy is thus, performed to determine extent of cancer spread.
Hospitals are expected to hold a market share of around 52.0% in the global market in 2023.
There is a growing global incidence of thyroid and glad disorders. Moreover, increasing cases of breast cancer are further propelling hospital in-patient rates, augmenting the segment growth over the forecast period. According to the American Hospital Association (AHA), there were approximately 6,146 hospitals in the United States as of 2018, and that number of new invasive breast cancer cases by 2020 were 276,480. During the forecast period, it is anticipated that this will create more growth opportunities for the gamma probe devices market.
In order to expand their client base and gain market share, medical device companies are concentrating on forming alliances with up-and-coming businesses.
At specialized scientific seminars and conferences, leading market participants advertise their products. It is anticipated that this marketing strategy would have a significant influence on overall expansion of the global market.
Recent Market Developments
Similarly, recent developments have been tracked by the team at Future Market Insights related to companies in the gamma probe devices space, which are available in the full report.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2015 to 2022 |
| Market Analysis | USD Million for Value, Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, UK, Germany, Italy, Russia, Spain, France, BENELUX, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Türkiye, GCC Countries, North Africa, and South Africa |
| Key Market Segments Covered | Modality, Application, End User, and Region |
| Key Companies Covered | Biodex Medical Systems, Inc.; CAPINTEC, INC.; Crystal Photonics GmBH; Devicor Medical Products, Inc (Mammotome); Dilon Technologies, Inc; Gamma Medical Technology; Intramedical Imaging; Intramedical Imaging; KUB Technologies; L'ACN - l'Accessorio Nucleare; Mammotome; NUCLEAR MEDSYSTEMS; Oncovision; Southern Scientific Ltd. |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Pricing | Available upon Request |
The United States, the United Kingdom, and Australia are leading the market.
The hospital industry holds high revenue potential.
The global market is estimated to capture a valuation of USD 86.9 million in 2023.
The market is forecast to register a CAGR of 9.8% through 2033.
The market recorded a CAGR of 8.3% from 2018 to 2022.
1. Market- Executive Summary 2. Market Overview 3. Key Market Trends 4. Value Added Insights 5. Market Background 6. Global Market Demand (in Volume Units) Analysis 2015 to 2022 and Forecast, 2023 to 2033 7. Global Market - Pricing Analysis 8. Global Market Demand (in Value USD Million) Analysis 2015 to 2022 and Forecast, 2023 to 2033 9. Global Market Analysis 2015 to 2022 and Forecast 2023 to 2033, By Modality 9.1. Hand Held Device 9.2. Benchtop Device 9.3. Trolley Mounted Device 10. Global Market Analysis 2015 to 2022 and Forecast 2023 to 2033, By Application 10.1. Thyroid Uptake 10.2. Sentinel Lymph Node Uptake 10.2.1. Breast Cancer 10.2.2. Melanoma 10.2.3. Colon Cancer 10.2.4. NSCLC 10.2.5. Renal Cancer 10.2.6. Others 11. Global Market Analysis 2015 to 2022 and Forecast 2023 to 2033, By End User 11.1. Hospitals 11.2. Ambulatory Surgical Centers 11.3. Specialty Centers and Clinics 12. Global Market Analysis 2015 to 2022 and Forecast 2023 to 2033, by Region 12.1. North America 12.2. Latin America 12.3. Europe 12.4. South Asia 12.5. East Asia 12.6. Oceania 12.7. Middle East & Africa (MEA) 13. North America Market Analysis 2015 to 2022 and Forecast 2023 to 2033 14. Latin America Market Analysis 2015 to 2022 and Forecast 2023 to 2033 15. Europe Market Analysis 2015 to 2022 and Forecast 2023 to 2033 16. South Asia Market Analysis 2015 to 2022 and Forecast 2023 to 2033 17. East Asia Market Analysis 2015 to 2022 and Forecast 2023 to 2033 18. Oceania Market Analysis 2015 to 2022 and Forecast 2023 to 2033 19. Middle East and Africa Market Analysis 2015 to 2022 and Forecast 2023 to 2033 20. Market Structure Analysis 21. Competition Analysis 21.1. Biodex Medical Systems, Inc. 21.2. CAPINTEC, INC. 21.3. Crystal Photonics GmBH 21.4. Devicor Medical Products, Inc (Mammotome) 21.5. Dilon Technologies, Inc 21.6. Gamma Medical Technology 21.7. Intramedical Imaging 21.8. KUB Technologies 21.9. L'ACN - l'Accessorio Nucleare 21.10. Mammotome 21.11. NUCLEAR MEDSYSTEMS 21.12. Oncovision 21.13. Southern Scientific Ltd. 22. Assumptions and Acronyms Used 23. Research Methodology
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Gamma Probe Devices Market
