Sentinel Node Biopsy Market Grow at a CAGR of 5.1% till 2023 | Research Insights by Devicor Medical Products, Inc., part of Leica Biosystems., C. R. Bard, Inc., INTRAMEDICAL IMAGING LLC, and Others

Sentinel Node Biopsy Market Research Report– Information: By-Product (Breast Localization Wire, Tissue Marker, Gamma Probe, Drainage Catheters), Indication (Breast Cancer, Melanoma, Colon Cancer, Esophageal Cancer), End User (Hospitals & Clinics, Diagnostic Centers) - Global Forecast Till 2023

Market Scenario

Sentinel node biopsy is a medical procedure sued for the diagnosis of various types of cancer such as breast cancer, colon cancer, and others.

The global sentinel node biopsy market is expected to grow at a CAGR of 5.1% during the forecast period 2017-2023.

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There are various factors affecting the growth of the market such as increasing prevalence of cancer, technological advancement, and others. Additionally, extensive R&D activities in the diagnosis and treatment of cancer further fuel the market growth. Rising healthcare funding by the government organizations also accelerates the market growth. However, the high cost of the diagnostic procedure may affect the market growth.

Key Players

Some of key the players in the market are Devicor Medical Products, Inc., part of Leica Biosystems. (Germany), C. R. Bard, Inc. (U.S.), INTRAMEDICAL IMAGING LLC (U.S.), Hilfe Engineering Corporation (India), Surgic Eye (Germany), KUB Technologies, Inc. (U.S.), Navidea Biopharmaceuticals, Inc.(U.S.) and others.

Segmentation

The global sentinel node biopsy market is segmented on the basis of product, indication, and end user. On the basis of the product, the market is segmented into breast localization wire, tissue marker, gamma probe, drainage catheter, and others.

On the basis of the indication, the market is segmented into breast cancer, melanoma, colon cancer, esophageal cancer, and others.

On the basis of the end user, the market is segmented into hospitals & clinics, diagnostic centers, and others.

Regional Analysis

Geographically, Americas dominate the global sentinel node biopsy market owing to the rising number of patients with cancer, raising awareness about biopsy as a cancer diagnostic tool, and increasing government support for research & development. According to a report published by the breast cancer information and awareness, in 2017, around 252,710 new cases of invasive breast cancer are expected to be diagnosed in women, along with 63,410 new cases of non-invasive breast cancer.

Europe acquires the second largest share of the global sentinel node biopsy market as result of increasing focus of various government agencies on the treatment of various chronic and fatal diseases. Moreover, the growing public awareness is also expected to boost the European market. Germany is the largest market, which is driven by an increasing focus on research.

In the Asia Pacific, the market growth is driven by rising healthcare expenditure in major economies, growing the government initiatives for research & development are projected to drive the market in China and India and high prevalence of chronic diseases. Key player focuses on the Asia Pacific as a region of great opportunities in the market.

The United Arab Emirates (UAE), Saudi Arabia, and Kuwait are a major market in the Middle East due to the exponential growth of healthcare diagnostic industry and the demand for specialty care services. Whereas, the African region is expected to witness a moderate growth due to limited exposure to advanced healthcare technology devices and unawareness about sentinel node biopsy.

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Research Methodology

MRFR leverages its in-house expertise for drawing insightful conclusions into the market. Extensive primary and secondary research are undertaken which include SEC filings, interviews with stakeholders across the value chain, whitepaper references, etc. for backing the research findings. Top-down and bottom-up approaches employed validate the authenticity of the statistical observations available in the report. Furthermore, a multi-layer verification process is applied for eliminating deviations and discrepancies.

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