Sentinel Node Biopsy Market, Size, Share, Growth, Business Risk & Industry Analysis Reports 2030
The global sentinel node
biopsy market is growing
pervasively mainly due to the increasing prevalence of various types of cancer
including melanoma, colon cancer, breast cancer, esophageal cancer, head and
neck cancer among others. Moreover, the spreading awareness towards the
advantages of sentinel node biopsy escalates its market on the global platform.
The Sentinel Node Biopsy Market is projected to reach at 4.90% CAGR
during the forecast period 2022-2030.
Additional factors
propelling the growth of the market include the changing lifestyle led by the
growing urbanization & industrialization. Improving economic conditions
worldwide are defining the growth of the sentinel node biopsy market, enabling
access to the quality of life & to the improved healthcare. Furthermore,
factors such as increasing number of biopsy procedures and rising demand for
new techniques for the diagnosis of cancerous growth provide significant
impetus to the market growth.
On the other hand,
factors such as prohibitive costs associated with the biopsy and the large
unmet need are some of the key factors impeding the market growth, especially
in the developing nations. Nevertheless, factors such as the availability of
new products and services and the presence of well-established market players
in the developing as well as developed countries will support the market
growth, filling up the demand and supply gap.
Major Key
Players:
Sentinel Node Biopsy Market Players include Devicor Medical Products, Inc. (Germany), C.
R. Bard, Inc. (U.S.), Hilfe Engineering Corporation (India), Intramedical
Imaging LLC (U.S.), KUB Technologies, Inc. (U.S.), Surgic Eye (Germany), and
Navidea Biopharmaceuticals, Inc. (U.S.) among others.
Segment Analysis
The MRFR analysis is segmented into four key dynamics
for enhanced understanding.
By Product
: Breast Localization Wire, Tissue Marker, Gamma Probe, and Drainage Catheters,
liquid biopsy among others.
By Indication:
Breast Cancer, Melanoma, Colon Cancer, and Esophageal Cancer among others.
By End-user
: Hospitals & Clinics, and Diagnostic Centers among others.
By Regions
: North America, Asia Pacific, Europe, and the Rest-of-the-World.
Regional Analysis
The North American region,
heading with the increasing number of market players offering biopsy devices
and instruments, accounts for the leading market for sentinel node biopsy,
globally. Factors such as the extensive and early uptake of medical technology
for advancing medical devices and the increasing governmental support for
R&D activities alongside the high health care expenditures substantiate the
market growth in the region.
Furthermore, the increasing
number of women suffering from breast disorders and rising prevalence of breast
cancer along with the availability of quality care drives the growth of the
regional market. With the constant developments by companies operating in
cancer diagnostics, the market is expected to create the major revenue pocket
during the review period.
The sentinel node biopsies market
in the European region led by the increasing emphasis on the development of
advent diagnostic devices, accounts for the next largest market, globally.
Moreover, factors propelling the growth of the regional market include rising
government support with the increased funding for R&D activities in the
field of oncology and the rising numbers of specialty services offered by
various healthcare providers.
Germany leads the European
sentinel node biopsies market owing to an increasing demand for cancer diagnosis.
Whereas France and the U.K heading with the availability of tertiary care
facilities in these countries and rising healthcare expenditures, secure second
and third position, respectively.
The Asia Pacific region is
emerging as a profitable market for Sentinel Node biopsies, growing
rapidly. Increasing incidents of breast cancer is a key driving factor
fostering market growth. Furthermore, factors such as the increasing
demand for quality devices in healthcare and rapidly developing healthcare technology
are fuelling the market growth in the APAC region, leading to increased use of
advanced biopsy equipment.
India and China led by the
presence of the highly skilled workforce and the increasing demand for biopsy
procedures in hospitals and specialty care centers, exhibit enormous growth
opportunities. Moreover, growing occurrences of chronic diseases, an
increase in the number of women suffering for reproductive disorders, and
increasing expenditure on surgical procedures in developing economies throughout
the APAC foster the growth of the regional market.
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