Pune, India, February 2019 /MRFR Press Release/- Market Research Future has a half cooked research report on the global sentinel node biopsy market.
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.
Acknowledging the exponential traction, the market is witnessing currently, Market Research Future (MRFR) in its recently published a study report asserts that the global sentinel node biopsy market will witness significant accruals by 2023 registering 5.1 % CAGR during the review period (2017 to 2023).
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.
Global Sentinel Node Biopsy Market- Segments
The MRFR analysis is segmented into four key dynamics for enhanced understanding.
By Product : Breast Localization Wire, Tissue Marker, Gamma Probe, and Drainage Catheters 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.
Global Sentinel Node Biopsy Market- 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.
Global Sentinel Node Biopsy Market- Competitive Analysis
The global sentinel node biopsy market appears intensely competitive and fragmented with a large number of players churning the competition. Players employ a continuous improvement strategy to analyze and update tests, implement improvements and launch new solutions to meet the changing demands of both patients and healthcare professionals.
These key players invest heavily in developing the pipeline of innovative tests to address unmet patient needs. They strive to develop non-invasive, comprehensive and proven effective, tests that can help to match advanced-cancer patients with the approved targeted therapies as well as drugs in clinical trials.
Key players leading the global sentinel node biopsy market 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.
January 30, 2019 ---- Castle Biosciences, Inc. (the US), a skin cancer diagnostics company providing personalized genomic information to improve cancer management decisions, published the clinical test result of its Melanoma test - the DecisionDx ® - useful to determine decisions for the use of sentinel lymph node biopsy, a surgical procedure used to help stage melanoma.
The data supporting the clinical use of the DecisionDx indicates that the test result can be used with clinicopathologic factors to inform patient recommendations for sentinel lymph node biopsy (SLNB) in line with national melanoma clinical practice guidelines.
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