Sentinel node biopsy is a surgical procedure used for staging of various cancers including melanoma, breast cancer and others. It helps surgeons to detect the spread of cancer in lymph nodes. The procedure involves injection of radioactive tracer and/or blue dye around the tumor site, which then travels to the sentinel lymph nodes. These sentinel nodes are then removed and examined for presence of cancer cells. If cancer is not found in sentinel nodes, it is less likely to have spread to other nodes. Sentinel node biopsy reduces unnecessary axillary lymph node dissection in patients with node-negative disease, thereby minimizing surgery-related complications such as lymphedema.
The global sentinel node biopsy market size is estimated to reach US$ 1,209.2 million by 2031 registering a CAGR of 7.0% over the forecast period.
Key Takeaways
Key players operating in the sentinel node biopsy market are Hologic, Inc., Stryker Corporation, Devicor Medical Products, Inc., Boston Scientific Corporation, KUBTEC Medical Imaging, LabLogic Systems Ltd., SurgicEye GmbH, CareWise Health, Navidea Biopharmaceuticals, Inc., Intramedical Imaging, LLC, GE Healthcare, Siemens Healthineers, Philips Healthcare, Medtronic, and C. R. Bard, Inc.
Geographically, North America dominates the Sentinel Node Biopsy Market Growth is rising prevalence of cancer and favorable reimbursement policies for surgical procedures. However, Asia Pacific region is expected to witness highest growth over the forecast period supported by growing healthcare expenditure, increasing cancer awareness and improving diagnostic infrastructure in emerging countries.
Market Drivers
Rising incidence of cancer globally, especially breast cancer, is a major factor augmenting market growth. According to WHO, cancer burden is expected to rise by about 70% over the next 2 decades. In addition, increasing preference for minimally invasive surgeries over conventional lymph node dissection and favorable reimbursement for sentinel lymph node biopsy procedures are bolstering market revenues.
Market Restraints
However, factors such as high costs associated with technologically advanced imaging systems and tracers, and dearth of skilled medical professionals in developing regions can impede market expansion to some extent over the forecast period.
Segment Analysis
This market can be segmented based on product type, indication, end user and region. Breast cancer indication accounts for the largest segment in the sentinel node biopsy market as sentinel node biopsy has become the standard method for staging breast cancer. Breast cancer accounted for over 25% of the market share due to high incidence rates of breast cancer worldwide. Lymphoscintigraphy kits are dominating the product type segment as they are used in the initial stage of sentinel lymph node biopsy procedure to identify sentinel lymph nodes through injection of radioactive tracer. Hospitals dominates the end user segment as majority of sentinel node biopsy procedures are conducted in hospital settings.
Global Analysis
North America region dominates the global sentinel node biopsy market due to increasing breast cancer incidence rates and favourable reimbursement scenario for lymphoscintigraphy kits. According to American Cancer Society, about 268,600 new cases of breast cancer are diagnosed each year in the United States. Europe is the second largest market due to growing awareness regarding early cancer detection. Asia Pacific region is expected to grow at a highest CAGR during the forecast period due to growing healthcare infrastructure and increasing healthcare spending in emerging economies like China and India. Due to high incidence rates of breast cancer in China, the country accounts for a major share in the Asia Pacific sentinel node biopsy market.
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