Gamma Knife Market
Number of pages: 100 | Report Format: PDF | Published date: June 05, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 377.28 million |
|
Revenue Forecast in 2031 |
US$ 575.32 million |
|
CAGR |
4.8% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Indication, Anatomy, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, gamma knife was valued at US$ 377.28 million in 2022 and is expected to register a revenue CAGR of 4.8% to reach US$ 575.32 million by 2031.
Gamma Knife Market Fundamentals
The gamma knife is a minimally invasive neurosurgical tool used to treat many brain conditions, most notably brain tumors and some functional brain abnormalities. The gamma knife actually administers precision radiation therapy to selected brain regions rather than performing actual surgery. Several important trends have recently been seen in the gamma knife market. These patterns reflect changes in the healthcare environment, rising demand for accurate and non-invasive neurosurgery procedures, and technological developments.
Gamma Knife Market Dynamics
The global gamma knife market has experienced several notable trends in recent years. The increased use of gamma knife procedures as a successful treatment option, ongoing technological improvements, and the development of minimally invasive surgery choices are projected to drive market growth. An increase in the number of cancer cases worldwide is also expected to increase the market share of gamma knives during the forecast period. Based on a survey conducted by cancer.org, by 2040, the world might witness over 27.5 million new cancer cases and sixteen million cancer deaths. Moreover, based on research published by the American Cancer Society, brain cancer is considered the third highest cause of death among people aged forty-plus. Additionally, the market is anticipated to grow as leading companies approve more applications and launch more products. Elekta, for instance, introduced its most advanced system, Elekta Esprit, its next-generation stereotactic radiosurgery system, in May 2022. Elekta Esprit offers clinicians significantly faster-automated treatment planning, more individualized and patient-friendly treatments, and a level of precision capable of protecting the mind and the person. Additionally, the continuous R&D efforts by major companies to create technologically innovative gamma knife systems are anticipated to significantly raise market revenue over the course of the projection year.
However, the gamma knife system and associated treatment can be expensive. The initial investment in the equipment and the cost of maintenance, as well as the need for highly trained personnel, contribute to the overall cost of gamma knife treatment. This can limit the affordability and accessibility of the technology, particularly in regions with limited healthcare resources or where reimbursement coverage is inadequate.
Gamma Knife Market Ecosystem
The global gamma knife market is analyzed from the following perspectives: indication, anatomy, end user, and region.
Gamma Knife Market by Indication
Based on indication, the global gamma knife market is segmented into brain metastasis, trigeminal neuralgia, arteriovenous malformation, ocular diseases, vascular disorders, and others.
Brain metastasis segment accounts for the largest global gamma knife market, with revenue share of 68%. According to estimates, 20–40% of persons with cancer will develop brain metastases at some point during their illness. It occurs more frequently when cancer is further advanced. Patients with lung cancer are particularly susceptible to brain metastases. Brain metastasis is thought to occur in 25–40% of non–small cell lung cancer (NSCLC) patients and 40–50% of small cell lung cancer (SCLC) patients at some time during their disease.
Gamma Knife Market by Anatomy
Based on anatomy, the gamma knife market is segmented into head, neck, and others.
The head segment accounts for the largest global gamma knife market revenue share. Arteriovenous malformations (AVMs), functional impairments, and brain tumors are among the conditions that are primarily treated with the gamma knife. When intending to remove a brain tumor, the Gamma Knife might be utilized as a preoperative tool. Gamma Knife can aid in identifying crucial areas that need to be conserved during surgery by mapping the tumor and its surrounding structures. It assists in enhancing the surgical strategy and lowering the danger of harming healthy brain tissue. After a brain tumor has been surgically removed, remaining or recurrent tumor tissue that cannot be safely removed through subsequent surgery may be treated with the Gamma Knife. The high precision of Gamma Knife allows targeted radiation to be delivered to the remaining tumor cells while minimizing damage to nearby healthy brain tissue.
Gamma Knife Market by End User
Based on end users, the gamma knife market is segmented into hospitals & clinics, ambulatory surgical centers, and others.
The hospital segment accounts for the largest global gamma knife market revenue share. Gamma knife treatment is offered in hospitals with established specialized radio surgery centers. These centers are equipped with gamma knife machines, advanced imaging technology, treatment planning systems, and other necessary resources to deliver precise and effective radiation therapy. These hospitals invest in the necessary equipment, infrastructure, and expertise to provide gamma knife treatment to patients.
Gamma Knife Market by Region
Geographically, the global gamma knife market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounts for the largest global gamma knife market revenue share. Increased disease burden, rising cancer & brain tumor prevalence, growing awareness among medical professionals of noninvasive treatment options, widespread use of these instruments in surgical facilities, and improved healthcare infrastructure in this region are major drivers of high growth. The fact that cancer is one of the most common chronic diseases in the nation is another factor that is predicted to boost market growth over time. In the United States, for example, there were recorded 101,809 cases of colon cancer, 44,780 cases of rectum cancer, and 26,259 cases of stomach cancer, all of which are predicted to increase demand for interventional operations there. Brain tumors are comparatively prevalent in the US. In 2021, there are anticipated to be about 87,720 new instances of primary brain tumors (including benign and malignant tumors). According to predictions from the American Brain Tumor Association. Malignant brain and central nervous system (CNS) tumor cases were anticipated to increase to about 23,800 in 2021. Additionally, compared to most wealthy nations, the United States has a better healthcare infrastructure. The National Cancer Institute (NCI) estimates that the country spent USD 156 billion on cancer treatment in 2020. Consequently, the gamma knife market is anticipated to grow as a result of the additional funding. According to data from Cancer.net released in February 2022, primary malignant tumors of the brain and spinal cord will be detected in 25,050 individuals (14,170 men and 10,880 women) in the United States in 2022. According to the same source, in the United States, a brain or CNS tumor will also be identified in 4,170 children under the age of 15 in 2022. As a result, the market is anticipated to experience growth throughout the projected period due to the rising number of cancer cases in the country and the rising need for stereotactic radiosurgery for its treatment.
Europe accounts for the second-largest global gamma knife market revenue share. The overall regional market's growth is aided by rising healthcare spending and advantageous reimbursement programs. Additionally, the region's need for gamma knives is increasing due to the rising cancer prevalence in Europe. According to the World Health Organization, only one-eighth of the world's population is in Europe. However, the region is responsible for around 25% of all cancer incidences globally. Cancer is one of Europe’s main causes of death, which contributes significantly to the overall disease burden. It significantly impacts the public health and healthcare systems and affects millions of individuals across the continent. In order to improve cancer prevention, diagnosis, and treatment, Europe is heavily engaged in cancer research. The European Cancer Organization (ECCO) and the European Society for Medical Oncology (ESMO) are two groups that seek to advance cancer research, harmonize standards, and improve patient treatment across the region.
Asia Pacific is projected to record the fastest global gamma knife market revenue. The gamma knife market is anticipated to be driven by a number of crucial factors throughout the course of the forecast period, including an increase in the frequency of neurological illnesses, an increase in healthcare spending, and a rise in the accessibility of gamma knife procedures.
Gamma Knife Market Competitive Landscape
The prominent players operating in the global gamma knife market are: -
Gamma Knife Market Strategic Developments
The gamma knife is a non-invasive neurosurgical device used to treat brain disorders, particularly brain tumors and certain functional brain disorders.
The global gamma knife during the forecast period is expected to grow at a revenue CAGR of 4.8%.
Accuray Incorporated, Akesis Inc., Elekta AB, Hitachi, Ltd., and Huiheng Medical, Inc. are the major players in the global gamma knife market.
The Asia Pacific region is projected to grow at a high revenue CAGR in the global gamma knife market.
The excessive cost of therapy and devices, and regulatory approvals are a few of the factors restricting the global gamma knife market.
*Insights on financial performance are subject to the availability of information in the public domain