CyberKnife Market Size, Share & Trends Analysis Report By Application (Tumor, Cancer, Vascular Malformation, Others), By End-use (Hospitals, Outpatients Facilities) By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global cyberKnife market size was valued at USD 451.4 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 18.7% from 2023 to 2030. The increasing prevalence of cancer, recent product launches, and growing preference for non-invasive or minimally invasive procedures over surgery are the factors propelling the growth of the cyberKnife market. The increasing prevalence of cancer is the most prominent factor driving the growth of the market. Factors contributing to the rise of the prevalence of cancer include increasing tobacco use, rising alcohol consumption, lack of physical activity, and growing adoption of unhealthy diets by individuals.

According to an article, published by CDC in October 2022, cigarette smoking is linked to 80% to 90% of lung cancer deaths in the U.S. Thus, indicating that individuals consuming tobacco is at a higher risk of developing cancer. Therefore, an increasing number of the smoking population indicates a higher number of people at risk of developing cancer.      

New product launches by the key players in the market are also contributing to the growth of the cyberKnife market. For instance, in June 2020, Accuray Incorporated launched the CyberKnife S7 system. It is next generation cyberKnife platform, which is a robotic, non-invasive radiation therapy device that treats cancerous and benign tumors throughout the body, as well as neurologic disorders. The product is built for the speed of clinicians’ need for operational efficiency. 

Another factor that is boosting the growth of the cyberKnife market is the increasing preference for non-invasive and minimally invasive procedures. Various factors such as shorter hospital stays, less trauma, quick recovery time, and comparatively lower cost than surgical procedures are leading to a higher number of patients opting for non-invasive or minimally invasive procedures. Moreover, these procedures are also highly effective and reduce the spread of cancer by killing cancer cells and damaging their DNA. Thus, the rapid technological advancements that are continuously evolving the treatment roadmap for cancer patients and leading to higher adoption of minimally invasive or non-invasive procedures are expected to propel the market growth.

Application Insights

In 2022, the cancer segment held the highest market share owing to the increasing incidence of cancer worldwide. According to the American Cancer Society, in 2023, an estimated 1,958,310 new cancer cases will be diagnosed in the U.S. and the top 5 cancers include breast, prostate, lung,  bronchus, and colorectal. Moreover, the rising usage of cyberKnife in the treatment of cancer patients across different types of cancers is also leading toward segment growth. 

The vascular malformation segment is expected to undergo maximum growth during the forecast period as it is one of the most effective treatments for arteriovenous malformations. It is a non-surgical, noninvasive treatment that uses a precisely targeted beam of radiation to damage the walls of the blood vessels and close the AVM. It uses one of the most advanced technologies that help in conducting the procedure with great accuracy.

End-use Insights

The hospital segment held the highest market share in 2022. The presence of highly skilled professionals and an increasing number of patient visits in this facility are the major factors leading to the dominance of the segment. Moreover, the rising number of hospitals in order to meet the growing need of patients is also leading to segment growth. 

On the other hand, the outpatient facilities segment is anticipated to register maximum growth during the forecast period. Ambulatory surgical centers and specialty clinics are expected to experience maximum growth during the forecast period. This is due to the advantages such as a shorter waiting period and also reduced overall cost and out-of-pocket expense for the patients.   

Regional Insights

North America accounted for the highest revenue share in 2022 in the cyberKnife market. Factors such as the increasing prevalence of chronic diseases, a rapid shift towards painless and non-invasive surgeries, and growing demand for less time-consuming treatments are the key factors driving the growth of the cyberKnife market in this region. For instance, according to the American Society for Radiation Oncology, the number of radiation facilities in the U.S. increased from 1,987 in 2005 to 2,332 in 2020, representing a growth rate of 17.0%.

Asia Pacific is anticipated to undergo maximum growth during the forecast period with the highest CAGR. Increasing geriatric population that is more susceptible to developing chronic diseases, growing incidences of cancer, and rising affordability of population to undergo treatment in the region is driving the growth of the market. For instance, in 2020, cancer incidence in Asia accounted for 49.3% of the global cancer incidence, according to the global cancer observatory report, published by WHO.    

Key Companies & Market Share Insights

In an attempt to establish a strong position in the market, key players are carrying out various strategic initiatives such as mergers &  acquisitions, partnerships,  collaboration, and expansion, etc. These strategies help the companies not only expand the reach of their products but also enhance the overall quality of the product with additional expertise. 

Key players in the cyberKnife market are aiming to expand their market presence and secure a strong position by entering into partnerships with well-established global players. For instance, in October 2022, Accuray Incorporated entered into a commercial collaboration agreement with GE Healthcare to expand access, and advance the practice of precision radiation therapy. Some of the prominent players in the global cyberKnife market include:

• Accuray Incorporated

• Varian Medical Systems

• Koninklijke Philips 

Cyberknife Market Report Scope

Global CyberKnife Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels in addition to provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global cyberKnife market report based on the  application, End-use and region:

• Application Outlook (Revenue USD Million, 2018 - 2030)

  • Tumor

  • Cancer

  • Vascular malformation

  • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals

  • Outpatient facilities

  • Research and Manufacturing

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • India

    • China

    • South Korea

    • Thailand

    • Australia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait