Radiosurgery Systems Market By Type (Gamma Knife system, Linear accelerator systems, Proton beam therapy), By Condition (Brain Tumors, Spine Tumors), By End User (Hospitals, Academic and Research institute): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global radiosurgery systems market was valued at $2,095.2 million in 2021, and is projected to reach $3,979.2 million by 2031, registering a CAGR of 6.7% from 2022 to 2031. An extremely accurate type of therapeutic radiology is radiosurgery, often known as stereotactic radiosurgery. Despite the name surgery, which implies actual surgery, radiosurgery is a single radiation therapy session that mimics the effects of a surgical procedure. Radiosurgery is a minimally invasive procedure that treats tumors and other issues in the brain, neck, lungs, liver, spine, and other areas of the body by using a large number of precisely focused radiation beams. Furthermore, stereotactic radiosurgery harms the DNA of the targeted cells, just like other radiation treatments do. Tumors then contract as the damaged cells lose their capacity to procreate.
Radiosurgery can be used to treat many conditions in the brain such as blood vessel disorders like arteriovenous malformation, trigeminal neuralgia, epilepsy and other. Mainly radiosurgery is used in primary brain tumor which includes pituitary tumor, meningioma, glioma, acoustic neuroma, hemangioblastoma, pediatric brain tumor, metastatic tumors and others. Moreover, radiosurgery is used to treat cancer disease.
The radiosurgery systems market is driven by rise in prevalence of cancer, technological advancement in development of radiosurgery systems, rise in the number of product launch and product approval for radiosurgery system. For instance, according to World Cancer Research Fund International, it was reported that 18,094,716 cancer cases were diagnosed over the globe. Moreover, according to World Health Organization, (WHO), in 2020, approximately 2.26 million new breast cancer cases were diagnosed worldwide. In addition, rise in the number of brain cancer, brain tumor and spinal cord tumor increases the demand of radiosurgery systems for treatment purpose. For instance, according to World Cancer Research Fund International, it was reported that 308,102 brain, central nervous system cancer cases were diagnosed over the globe.
The global radiosurgery systems market is predicted to develop as more patients battle brain tumors, which cause increase in the shift of consumer preference toward minimally invasive and non-invasive techniques. The use of minimally invasive radiosurgery is supported by a number of advantages, including quicker healing, lower morbidity and mortality, and shorter hospital stays.
Geriatric population is more susceptible to chronic diseases. Rise in number of geriatric populations increases the demand of radiosurgery systems for cancer treatment. Thus, this factor contributes to drive the growth of radiosurgery systems market. In addition, Governments globally have increased the expenditure on the healthcare sector. For instance, according to the Centers for Medicare & Medicaid Services, the U.S. health care spending grew by 9.7% from 2020 to 2019, reaching $4.1 trillion ($12,530 per person). Similarly, as per the Office for National Statistics, total healthcare expenditure in the UK accounted for 12.8% of the gross domestic product (GDP) in 2020, compared to 10.2% in 2019. Furthermore, it has been estimated that approximately 30% of the healthcare expenditure is used in upgrading the healthcare infrastructure, especially medical equipment used at public health centers (hospitals). Hence, this rise in healthcare expenditure across the globe is expected to fuel the demand for in radiosurgery systems application in different disease treatment, thereby boosting the market growth. On the other hand, high cost associated with radiosurgery systems and side effects of radiosurgery attributes to hinder market growth.
The radiosurgery systems market is segmented on the basis of type, condition, end user and region. On the basis of type the market is segmented into gamma knife system, linear accelerator systems and proton beam therapy. On the condition market is segmented into brain tumors and spine tumor. Brain tumor is further bifurcated into malignant and non-malignant. Malignant segment further sub-categorized into Meningioma, pituitary tumor and others. Non-malignant further sub categorized into Glioblastoma, Anaplastic astrocytoma and others. On the end user, market is bifurcated into hospitals and academic & research institute. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global radiosurgery systems market include Accuray Incorporated, Elekta AB, Atrium Health, Avocure, Brain LAB, Integra Life Sciences Holding Corp, Ion Beam Applications SA, Medtronic, Mevion Medical Systems, Inc., Nordion Inc., Reflexion Medical, Siemens (Varian Medical Systems), Summit Cancer Centers, ViewRay, Vision RT, Xcision Medical Systems, ZAP surgical System Inc.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the radiosurgery systems market analysis from 2021 to 2031 to identify the prevailing radiosurgery systems market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the radiosurgery systems market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global radiosurgery systems market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Linear accelerator systems
Proton beam therapy
Gamma Knife system
By Condition
Brain Tumors
Type
Malignant
Non malignant
Spine Tumors
By End User
Hospitals
Academic and Research institute
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market Players
ACCURAY INCORPORATED
Elekta AB
Atrium Health
Avocure
Brainlab
Integra LifeSciences Holding Corp
Ion Beam Applications SA
Medtronic
Mevion Medical Systems, Inc.
Nordion Inc.
RefleXion Medical
Siemens (Varian Medical Systems)
Summit Cancer Centers
ViewRay
vision rt ltd
Xcision Medical Systems
ZAP surgical System Inc.
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