Dublin, Nov. 29, 2024 (GLOBE NEWSWIRE) -- The "Sentinel Node Biopsy Market Size, Share & Trends Analysis Report by Product (Surgical Instruments, Imaging Agents, Diagnostic Kits), Application (Breast Cancer), Procedure, End-use (Hospitals & Clinics, Others), Region and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global sentinel node biopsy market size is anticipated to reach USD 1.1 billion by 2030, expanding at a CAGR of 7% from 2024 to 2030.
This growth can be attributed to the increasing investment in cancer research and the rising awareness about sentinel node biopsy and other cancer treatment options. Moreover, the increasing competition among companies operating in the industry is expected to propel the market growth.
The growing funding for developing novel cancer treatments and increasing cancer research projects is anticipated to boost market growth. Several government and nonprofit organizations are increasing funding for cancer research. For instance, in September 2024, the Breast Cancer Research Foundation (BCRF) revealed that it is investing USD 70.3 million for breast cancer research in 2024-2025. Sentinel node biopsy is widely used in breast cancer. Thus, such funding for breast cancer disease research is expected to bring innovation in the market in the coming years.
In addition, the rising approvals from regulatory authorities for sentinel node biopsy products are anticipated to boost the market growth over the forecast period. For instance, in December 2022, Magtrace and Sentimag Magnetic Localization System from Endomagnetics Ltd. Obtained approval from the U.S. Food and Drug Administration (FDA). These systems are useful for lymph node biopsies in patients with breast cancer. Such authorizations from regulatory authorities of numerous countries are anticipated to boost the demand for the sentinel node biopsy products.
Furthermore, the rising number of initiatives focusing on increasing awareness about cancer disease and available treatment options is anticipated to support the market growth. Industry players, academic institutions, government bodies, and nonprofit organizations are undertaking several initiatives to increase knowledge of cancer treatments and symptoms. For instance, in September 2023, Hologic, Inc., a manufacturer of sentinel node biopsy products, collaborated with a nonprofit organization, Know Your Lemons, to enhance the early detection of breast cancer across the globe through empowering and creative education. Such initiatives are projected to have a positive impact on the industry growth.
Sentinel Node Biopsy Market Report Highlights
- Based on product, in 2023, the surgical instruments segment dominated the market, accounting for 50.63% of the revenue share. This dominance can be attributed to the increasing adoption of minimally invasive surgical techniques and a growing number of clinical trials focusing on sentinel node biopsy.
- Based on application, the breast surgery segment dominated the market in 2023 and accounted for the largest revenue share of 61.51%. The other segment, which includes several types of cancer, such as melanoma and gynecological cancers, is anticipated to grow fastest from 2024 to 2030.
- Based on procedure, the open surgery segment dominated the market in 2023. In contrast, the minimally invasive surgery segment is expected to grow fastest, with the highest CAGR of 8.35% over the forecast period.
- Based on end use, the hospitals & clinics segment dominated the market in 2023, accounting for a revenue share of 74.77%. In contrast, the ambulatory surgery center segment is expected to grow fastest over the forecast period.
- Based on region, North America accounted for the largest revenue share, 44.62%, in 2023. It is also expected to grow fastest due to the growing approvals for sentinel node biopsy products from the FDA and the presence of key market players in the region.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments
- Competitive Landscape: Explore the market presence of key players worldwide
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
The leading players in the Sentinel Node Biopsy market include:
- Hologic, Inc.
- Devicor Medical Products, Inc.
- KUBTEC
- SurgicEye
- Varay Laborix
- LabLogic Systems Ltd (Care Wise)
- Gamma Medical Technology
- Stryker
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Sentinel Node Biopsy Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.1.1. Rising Prevalence Of Cancer
3.2.1.2. Technological Advancements
3.2.1.3. Increasing Awareness About Sentinel Node Biopsy And Cancer Treatment
3.2.1.4. Growing Investment For Cancer Research
3.2.2. Market Restraint Analysis
3.2.2.1. High Cost Associated With Sentinel Node Biopsy
3.2.3. Market Opportunities Analysis
3.2.3.1. Expansion In Emerging Economies
3.2.3.2. Increasing Number Of Clinical Trials
3.2.4. Market Challenge Analysis
3.2.4.1. Lack Of Healthcare Professionals
3.3. Sentinel Node Biopsy Market Analysis Tools
Chapter 4. Sentinel Node Biopsy Market: Product Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Global Sentinel Node Biopsy Market Movement Analysis
4.3. Global Sentinel Node Biopsy Market Size & Trend Analysis, by Product, 2018 to 2030 (USD Million)
4.4. Surgical Instruments
4.4.1. Surgical Instruments Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.4.2. Needles
4.4.3. Probes
4.5. Imaging Agents
4.5.1. Imaging Agents Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.5.2. Radioactive Tracers
4.5.3. Fluorescent Dyes
4.5.4. Contrast Agents
4.6. Diagnostic Kits
4.6.2. Equipment
4.6.3. Reagents
Chapter 5. Sentinel Node Biopsy Market: Application Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Global Sentinel Node Biopsy Market Movement Analysis
5.3. Global Sentinel Node Biopsy Market Size & Trend Analysis, by Application, 2018 to 2030 (USD Million)
5.4. Breast Cancer
5.5. Colon Cancer
5.6. Esophageal Cancer
Chapter 6. Sentinel Node Biopsy Market: Procedure Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. Global Sentinel Node Biopsy Market Movement Analysis
6.3. Global Sentinel Node Biopsy Market Size & Trend Analysis, by Procedure, 2018 to 2030 (USD Million)
6.4. Open Surgery
6.5. Minimally Invasive Surgery
Chapter 7. Sentinel Node Biopsy Market: End Use Estimates & Trend Analysis
7.1. Segment Dashboard
7.2. Global Sentinel Node Biopsy Market Movement Analysis
7.3. Global Sentinel Node Biopsy Market Size & Trend Analysis, by End Use, 2018 to 2030 (USD Million)
7.4. Hospitals & Clinics
7.5. Ambulatory Surgery Centers
7.6. Diagnostic Centers
Chapter 8. Sentinel Node Biopsy Market: Regional Estimates & Trend Analysis By Product, By Surgeries, By End Use
8.1. Regional Dashboard
8.2. Market Size & Forecasts and Trend Analysis, 2018 to 2030
Chapter 9. Competitive Landscape
9.1. Market Participant Categorization
9.2. Key Company Profiles
- Hologic, Inc.
- Devicor Medical Products
- KUBTEC
- SurgicEye
- Varay Laborix
- LabLogic Systems Ltd (Care Wise)
- Gamma Medical Technology
- Stryker
9.3. Heat Map Analysis/ Company Market Position Analysis
9.4. Estimated Company Market Share Analysis, 2023
9.5. List of Other Key Market Players
For more information about this report visit https://www.researchandmarkets.com/r/j9coq9
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