Gamma Probe Device Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Gamma Probe Device market in 2021?

The global gamma probe device market is estimated to have a market size of USD 250 million in 2021. With a Compound Annual Growth Rate (CAGR) of 4.5%, the market is expected to reach USD 350 million by the end of 2021. The increasing prevalence of cancer and advancements in surgical procedures are driving the growth of the gamma probe device market.

COVID-19 Impact on the Gamma Probe Device Market

The COVID-19 pandemic had a significant impact on the gamma probe device market. Due to lockdowns and restrictions on non-essential medical procedures, the market saw a temporary decline in demand. However, as healthcare systems adapt to the new normal and prioritize cancer detection and treatment, the market is expected to rebound in the coming years.

Gamma Probe Device Dynamics

The gamma probe device market is driven by factors such as the increasing incidence of cancer, technological advancements in surgical techniques, and the growing demand for minimally invasive procedures. The adoption of gamma probes in lymph node mapping and cancer staging procedures is also contributing to the market growth.

Segments and Related Analysis

The gamma probe device market can be segmented based on type, application, and end-user. By type, the market is divided into hand-held gamma probes and intraoperative gamma probes. In terms of application, the market includes cancer staging, lymph node mapping, and radioguided surgery. End-users of gamma probe devices are hospitals, ambulatory surgical centers, and specialty clinics.

By Region Analysis

Regionally, North America dominates the gamma probe device market due to the high prevalence of cancer and the presence of established healthcare infrastructure. Europe and Asia Pacific are also significant markets for gamma probe devices, with growing investments in healthcare and increasing awareness about early cancer detection.

Key Market Players and Competitive Landscape

Key players in the gamma probe device market include Dilon Technologies, Crystal Photonics, Ziteo Medical, and Neoprobe Corporation. These companies are focusing on developing innovative gamma probe devices with enhanced imaging capabilities and improved usability. The competitive landscape of the market is characterized by mergers, acquisitions, and partnerships to expand market reach and drive product innovation.

Recent Happenings in the Gamma Probe Device Market

In recent years, the gamma probe device market has witnessed advancements in imaging technologies, such as the integration of gamma probes with other imaging modalities for better visualization of tumors. Additionally, there have been collaborations between research institutions and medical device companies to develop next-generation gamma probe devices with higher accuracy and precision.