As per the research report, the Latin America Gamma Knife Market Size is valued at USD 29.44 million in 2022 and expected to grow at a CAGR of 8.24%, reaching USD 43.74 million by 2027 during the forecast period 2022 to 2027.
Increasing acceptance of these devices in surgery centers as a result of the rising frequency of neurological illnesses and the growing inclination for minimally invasive treatments are the factors driving the growth of the market.
Another critical element contributing to the surge in demand for these devices is the fast-expanding demand for the recently created Leksell Gamma Knife Icon, the increased need for technical upgrades, and an increasing understanding of the benefits of this type of radiation therapy.
Furthermore, the increased occurrence of primary brain tumors is expected to enhance demand over the projection period. Moreover, gamma knife therapy's related benefits over other treatment options, such as enhanced accuracy, precision, & treatment safety, are expected to drive up the demand in surgical centers.
The market is expected to grow as gamma knife therapy in neurological treatment grows due to its advantages over traditional operations. For example, it offers higher safety, less damage to surrounding tissues, and micro accuracy while treating the target cells in the brain because it is a non-invasive process.
However, several obstacles may hamper the market's expansion. One of the critical concerns is the expensive expense of implementing the equipment. Furthermore, the cost of treatment is highly high. The tumor's severity also determines the expense of treatment. A lack of awareness about this alternative surgical treatment could stymie market expansion in emerging countries.
Latin America has a moderate revenue share of the global market. The main factors influencing the region are a high incidence of brain tumors, rising awareness among healthcare professionals about non-invasive treatment options like stereotactic surgeries, increased adoption of these instruments in surgery centers, and improving healthcare infrastructure.
This research report on the Latin America Gamma Knife Market has been segmented and sub-segmented into the following categories.
By Disease Indication:
By Country:
Geographically, the Latin American gamma knife market is dominated by the global market in terms of volume due to the rising prevalence of malignancies and brain tumors and the growing use of gamma knife tools in surgery facilities, which are all contributing to an increase in disease load.
The Brazil gamma knife market is the second-largest market in terms of revenue due to the increased prevalence of various types of cancer and preference for minimally invasive procedures. In addition, high adoption and acceptance in developed markets are some factors influencing market growth.
The Mexico gamma knife market is expected to lead the Latin American market due to the high success rate of gamma knife procedures, innovations, and developments in technology, and comprehensive health insurance cover for radiosurgery procedures are some of the regional factors influencing the gamma knife market.
Patients with severe conditions in Brazil can be treated with this technique, which is a non-invasive process and can be cured in a few days with no extended hospital stay, allowing them to return to regular life and activity quickly. The gamma knife treatment usually takes a few hours and has minimal to no adverse effects. According to the Leksell Gamma Knife Society, gamma knife technology is generally preferred, and no other radiosurgery technique has a higher level of clinical acceptance.
KEY MARKET PLAYERS
Prominent companies leading the Latin American Gamma Knife Market profiled in the report are Varian Medical Systems, Nordion Inc., ET Medical group and American Shared Hospital Services, Huiheng Medical Inc., Masep Infini Latin America, Inc., Hokai, Elekta AB, Cyber Medical Corporation Ltd.,
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