As per our report, the size of the gamma knife market was worth USD 229.55 million in 2019 and estimated to be growing at a CAGR of 8.79%, to reach USD 349.8 million by 2024.
Gamma knife is one of the types of radiation therapy that used to treat brain tumours and other abnormalities of the brain with the help of computerized software. It is mostly used in high-risk brain treatment due to delivering intense radiation doses to the target area. The market size is estimated to expand due to the highest use in brain metastasis. Gamma knife radiosurgery can be included with the chemotherapy, radiation therapy and brain surgery. Food and drug administration approved gamma knife surgery since last 50 years for the use of brain diseases, and it is a cost-saving treatment as compared to other conventional therapy.
Rising incidence of brain tumours and cancer, coupled with the increasing adoption of gamma knife are majorly propelling the growth of the global gamma knife market.
According to the data published by the World Health Organization (WHO), cancer is one of a leading cause of death in the world, and an estimated 9.6 million were died due to cancer in 2018. As per the National Brain Tumor Society, around 0.7 million people in the United States are now suffering from the brain tumour, and over 87,000 cases will be joining to the count by 2020. As mentioned in the lines, as discussed above, the growing prevalence of cancer and brain tumours is primarily accelerating the growth of the global gamma knife market. Several medical devices manufacturers are focusing on the development of gamma knife instruments due to the rising patient population of central nervous system tumours and brain tumours across the world.
The usage of gamma knife radiosurgery is increasing in treating brain tumours, epilepsy, neurological disorders, malformations and other central nervous system disorders, which is estimated to provide a significant boost to the global gamma knife market growth. Rising prevalence of cancer, obesity, aging population and the growing number of people suffering from brain metastasis, neuralgia and other diseases are further accelerating the growth of the market. Additionally, increasing usage of the gamma knife instruments in the cancer surgical centres are also lavishing the growth rate of the global gamma knife market.
Side effects and high costs associated with the gamma knife instruments is the most significant restraint to the growth of the global gamma knife market. The strict regulations and lack of skilled workers in the healthcare industry are further hindering the gamma knife market.
Market Size Available
2018 to 2024
2019 to 2024
By Disease Indication and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
This research report on the global gamma knife market segmented and sub-segmented based on the disease indication and region.
Gamma Knife Market Analysis – By Disease Indication
Based on disease indication, the Brain metastasis segment holds the largest market share for gamma knife, accounting to more than sixty per cent of the share. The other segment is expected to grow at the fastest rate during the forecast period.
Gamma Knife Market Analysis – By Region
Regionally, the North American region has the leading share in the global gamma knife market, which is followed by the Asia Pacific and Europe regions. Asia Pacific region is expected to have the fastest growth rate during the forecast period, which can be owed to the growing patient base and growing economies in countries such as India and China. During the forecast period, the Asia Pacific region is expected to overtake North America region in share.
TOP COMPANIES IN THE MARKET
Key market players leading the global gamma knife market profiled in this report are Varian Medical Systems, Elekta AB, Cyber Medical Corporation Ltd., Huiheng Medical Inc., Masep Infini Global, Inc., Hokai, Nordion Inc., ET Medical group and American Shared Hospital Services.
RECENT MARKET DEVELOPMENTS
In 2019, the University of Minnesota health was come up with the latest next-generation gamma knife radiosurgery for the treatment of brain tumours patients. The gamma knife icon is the advanced type of gamma knife radiosurgery that can be used for targeting treatment.
In 2020, Elekta launches their new product called Leksell gamma knife lightening for the treatment of stereotactic radiosurgery which is entirely automatic system treatment planning solution that includes beam-on time constraint.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Disease Indication
5.1.1 Brain Metastasis
5.1.3 Trigeminal Neuralgia
5.1.4 AVM (Arteriovenous Malformation)
5.1.6 Y-o-Y Growth Analysis, By Disease Indication
5.1.7 Market Attractiveness Analysis, By Disease Indication
5.1.8 Market Share Analysis, By Disease Indication
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
184.108.40.206 By Disease Indication
6.1.4 Market Attractiveness Analysis
220.127.116.11 By Disease Indication
6.1.5 Market Share Analysis
18.104.22.168 By Disease Indication
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Varian Medical Systems
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Elekta AB
8.3 Cyber Medical Corporation Ltd.
8.4 Huiheng Medical Inc.
8.5 Masep Infini Global, Inc.
8.7 Nordion Inc.
8.8 ET Medical group
8.9 American Shared Hospital Services
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures