Global Gamma Probe Devices Market Insights
A gamma probe device is a non-invasive medical device used for interstitial injection of a radionuclide. This device is primarily used to locate sentinel lymph nodes for breast cancer treatment, and is also used in parathyroid surgery. Gamma probe devices are enabling surgeons operate in radio-guided diagnosis and surgery during intra-operation and pre-operation. It is often difficult to locate tissues such as lymph nodes, tumours, and parathyroid glands within the human body for surgeons. Consequently, the utilization of gamma probe devices in a proper way could facilitate surgeons to go for a smaller incision to locate the tissues of interest.
Due to their primary use for sentinel lymph node mapping and diagnosis of thyroid disease, the gamma probe devices market size is expected to experience noteworthy expansion over the forecast period of 2020 to 2030.
Gamma Probe Devices Market Insights by Modality
The gamma probe devices market is mainly segmented into three types of modality - handheld devices, benchtop devices, and trolley-mounted devices. The trolley-mounted devices segment accounts for over 41% of the global market, owing to a rise in demand from hospitals. On the other hand, the handheld devices segment is forecast to experience higher growth because of their convenience factor, i.e. easy operability and less cost. Besides, developments in technology in handheld portable gamma probe devices are expected to boost the segment during the period of forecast, making this an opportunity for players in the gamma probe devices market space.
Gamma Probe Devices Market Insights by End User
Gamma probe devices have various end users such as hospitals, ambulatory surgical centres, and speciality clinics. The hospitals segment dominates the gamma probe devices market with over 53% value share, owing to the increasing need for gamma probe devices in critical care units for breast and thyroid cancer procedures. The speciality clinics segment is the fastest-growing segment in the gamma probe devices market, due to rising preference for cancer treatment in these clinics.
Regional Outlook of Gamma Probe Devices Market
Europe is expected to hold approximately 44% of the gamma probe devices market share as far as revenue is concerned, by 2030, due to the increasing breast cancer mortality rate in this region. By country, the U.S is anticipated to be the largest and most lucrative market with high revenue share. Key players in the U.S are channelizing their efforts to increase productivity, flexibility, and throughput capabilities. Increase in industry consolidation activities, including acquisitions and collaborations among global and regional players, new product launches, and increasing research & development activities are the key characteristics of the overall competition in the global gamma probe devices market. North America is expected to hold the second-largest share in the global gamma probe devices market over the coming years. The market in South Asia is expected to experience significant growth over the next ten years.
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Gamma Probe Devices Market: Key Players
The gamma probe devices market is moderately consolidated in nature. Several players are operating in this market landscape, out of which, leading companies are Hologic, LabLogic Group Holdings, and Danaher Corporation. These companies have strong product portfolios, product developments, and innovative business strategies. Other players in the market are Devicor Medical Products, Inc. Intramedical Imaging, Crystal Photonics GmbH, BIODEX, Oncovision, and Capintec Inc.
These key market players have focused on various business strategies such as strategic alliances with other medical device companies for product sales and distribution, and collaboration with healthcare institutes for research & development of advanced technologies.
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The Analyst’s Viewpoint
“Key market players should emphasize on portable and low-cost gamma probe device development, with advanced technologies, which will allow them to hold a better position in the global gamma probe devices market space.
COVID-19 Impact on Gamma Probe Devices Market
The present coronavirus pandemic is having a significant impact on the medical device industry, including the gamma probe devices market across the world. Several international production and manufacturing businesses have been affected significantly. Some of the leading companies are unable to manufacture enough products to meet global demand due to a shortage of manpower. This factor is expected to have a huge adverse impact on the world economy over the coming days. The supply chain has been disrupted, as lockdowns and trade restrictions are in place to combat the spread of COVID-19. Thus, the production of medical devices is anticipated to be limited, as such, affecting the progress of the global gamma probe devices market.
Gamma Probe Devices Market: About the Report
Fact.MR published an exclusive forecast report on the gamma probe devices market for 2020 and 2030. The foremost objective of this report on the gamma probe devices market is to pitch spearhead insights on the market scenario, demand generators, and technological advancements in the gamma probe devices market. Also, the study addresses key dynamics that are expected to diversify the sales and future prominence of gamma probe devices.
The report on the gamma probe devices market begins with an executive overview, in which, definition by modality and application has been provided. The report further proceeds with the taxonomy of the gamma probe devices market, elaborating on key segments. Also, the report outlines visionary insights on the dynamics of the gamma probe devices market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with the key buying factors for gamma probe devices. Pricing analysis of the gamma probe devices market, along with the difference between gamma probe devices used as per application, has also been included in the report, to help readers clearly understand the product framework map in the gamma probe devices market.
Gamma Probe Devices Market – Report Scope
Fact.MR recently published a market study on the global market for gamma probe devices. The study provides a detailed assessment of key market dynamics, including the drivers, trends, opportunities, and restraints, as well as detailed information about the gamma probe devices market structure. The market study presents exclusive information about how the gamma probe devices market will grow during the forecast period of 2020-2030.
Key indicators of market growth, which include year-on-year (Y-o-Y) growth of the market and compounded annual growth rate (CAGR) are explained in Fact.MR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the gamma probe devices market during the forecast period.
The study is relevant for stakeholders in the gamma probe devices market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the gamma probe devices market, investors, industry experts, researchers, and journalists, as well as business researchers, can leverage the information and data presented in Fact.MR’s study.
It also offers actionable insights based on the future trends in the gamma probe devices market. Furthermore, small businesses and new entrants in the gamma probe devices market too can make use of the information presented in this study, based on which, they can make appropriate business decisions to gain momentum in the market.
Key Segments of Gamma Probe Devices Market
Fact.MR’s study on the gamma probe devices market offers information divided into four important segments — modality, application, end user, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Key Questions Answered in Fact. Mr’s Gamma Probe Devices Market Report
- Which regions will continue to remain the most profitable regional markets for gamma probe devices market players?
- Which factors will induce a change in the demand for gamma probe device manufacturers during the assessment period?
- How will changing trends impact the gamma probe devices market?
- How can market players capture the low-hanging opportunities in the gamma probe devices market in developed regions?
- Which companies are leading the gamma probe devices market?
- What are the winning strategies of stakeholders in the gamma probe devices market to upscale their position in this landscape?
- What is the impact of the COVID-19 pandemic on the gamma probe devices market?
Gamma Probe Devices Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the gamma probe devices market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the gamma probe devices market study include statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as validation from companies in the gamma probe devices market, and makes Fact.MR’s projections on the growth prospects of the gamma probe devices markets more accurate and reliable.
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