Stereotactic Surgery Devices Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented by Product Type (Gamma Knife, LINAC, PBRT, CyberKnife), by Application (Liver, Breast, Prostate, Lung, Colon, Others), and By Region, Competition 2018-2028
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationStereotactic Surgery Devices Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented by Product Type (Gamma Knife, LINAC, PBRT, CyberKnife), by Application (Liver, Breast, Prostate, Lung, Colon, Others), and By Region, Competition 2018-2028
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 24.76 billion |
| CAGR (2023-2028) | 5.59% |
| Fastest Growing Segment | PBRT segment |
| Largest Market | North America |
Market Overview
Global Stereotactic Surgery Devices Market has valued at USD 24.76 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.59% through 2028
Key Market Drivers
Increasing Neurological Disorders
Neurological disorders are a group of medical conditions that affect the nervous system, which includes the brain, spinal cord, and peripheral nerves. These disorders can lead to a wide range of symptoms and challenges that affect a person's cognitive, sensory, motor, and autonomic functions. Neurological disorders can have various causes, including genetic factors, environmental influences, infections, injuries, autoimmune responses, and degenerative processes.
Multiple Sclerosis (MS) is an autoimmune disorder in which the immune system attacks the protective covering of nerve fibers, leading to communication problems between the brain and the rest of the body.
Technological Advancements
Integration of high-resolution imaging techniques, such as MRI and CT scans, directly into stereotactic surgery systems allows surgeons to visualize the target area in real-time during the procedure. This enhances accuracy and reduces the need for multiple imaging steps.
These systems can help minimize human error and enhance the precision of procedures.
Rising Demand of Minimally Invasive Procedures
Minimally invasive surgery (MIS), also known as minimally invasive procedures, is a surgical approach that involves using small incisions, specialized tools, and advanced imaging techniques to perform surgical procedures with less damage to surrounding tissues.
The smaller incisions and reduced exposure of internal tissues to the external environment can lead to a lower risk of surgical site infections.
Key Market Challenges
Risk of Complications
Stereotactic procedures, while offering precise targeting and minimally invasive approaches, are not without potential risks and complications. These challenges need to be carefully managed to ensure patient safety and the successful outcomes of procedures.
Competition and Market Saturation
As more companies develop and market stereotactic surgery devices, the market becomes more competitive. This can lead to pressure to innovate, differentiate products, and offer competitive pricing. Intense competition often leads to price wars as manufacturers strive to capture market share. This can impact profit margins and make it challenging for smaller companies to compete.
Key Market Trends
Collaborative Research and Development
Collaborative efforts between medical device manufacturers, research institutions, healthcare providers, and other stakeholders play a significant role in advancing the field of stereotactic surgery devices.
Segmental Insights
Product
In 2022, the Global Stereotactic Surgery Devices was dominated by the PBRT segment with overall revenue of 85.58% in 2022 and is predicted to continue expanding over the coming years. PBRT is not widely adopted, but its high cost is a major factor in its dominance of the market. Furthermore, PBRT is effective in the treatment of a variety of malignancies. In terms of volume, the LINAC segment held a dominant position due to its high rate of adoption and installation. However, over the next five years, the market for CyberKnife is expected to experience the most rapid growth. CyberKnife offers a range of clinical advantages, including target specificity through a high dose of radiation, continuous visualization, and full automation.
Application Insights
In 2022, the Global Stereotactic Surgery Devices was dominated by breast segment with a share of around 24.23% in 2022 and is predicted to continue expanding over the coming years.
Regional Insights
The North America region has established itself as the leader in the Global Stereotactic Surgery Devices with a share of around 41.29% in 2022. The prevalence of cancer in the region is on the rise due to a variety of factors, including poor dietary habits, rapid technological progress, and governmental and non-governmental efforts to promote early detection and treatment. For example, the America Cancer Society has allocated more than $16 million for the creation of Cancer Health Equity Research Centers at minority-serving institutions.
Recent Developments
- In June 2021, Elekta hasrenewed its collaboration with Philips to facilitate the journey from cancerdiagnosis to cancer survival for improved results. This new partnership buildson the strong partnership the two companies already have in MR-guided adaptiveradiation therapy, which is growing rapidly. With this expanded cross-portfoliopartnership, Elekta will be able to use their combined skills to enhancepatient care even further. The strategic partnership aims to provide clinicians with a betterdiagnostic and adaptive, tailored treatment experience, shorter treatmentcycles and more accurate therapy for patients, as well as lower healthcarecosts for providers.
- On November 2022, Elekta isproud to announce that they have been awarded the CE mark for their newradiosurgical system, the Elekta ESPrit, a new Leksell Gamma Knife. This regulatory approval marks the initial step in allowing individualssuffering from brain disease to receive treatment through this cutting-edgesystem in Europe and in other countries where CE mark recognition is recognised– and, subsequently, in other parts of the world. The Leksell Gamma Knife isa minimally invasive, non-invasive alternative to traditional open surgery andtraditional radiotherapy. The Esprit Gamma Knife takes this to a whole newlevel with submillimeters (0.3mm*) precision and treatment planning in under 60seconds. It cantarget the smallest and most difficult intracranial tumours and lesions withminimal impact on surrounding healthy tissue. This critical accuracy protectsmotor, sensory, and neurocognitive functions to aid in the preservation of themind and the individual.
Key Market Players
- VendorLandscape
- Siemens Ag
- Elekta AB
- VarianMedical Systems
- IBA GroupInc.
- AccurayIncorporated
| By Product Type | By Application | By Region |
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