Stereotactic Surgery Devices Market Size, Share & Trends Analysis Report By Type (Gamma Knife, Linear Accelerator, CyberKnife, Proton Beam Therapy), By Region, And Segment Forecasts, 2018 - 2025

Report Overview

The global stereotactic surgery devices market size was valued at USD 16.2 billion in 2017. It is anticipated to progress at a CAGR of 4.9% over the forecast period. Increasing demand for minimally invasive surgical procedures is one of the key trends stimulating market growth.

Various benefits of advanced minimally invasive stereotactic surgeries, such as faster recovery, lower morbidity & mortality, and shorter hospital stay, are supporting their adoption. Consequently, these devices are replacing conventional invasive procedures.

In addition, rising uptake of these devices among patients suffering from arteriovenous malformations, epilepsy, and Parkinson’s disease is estimated to provide a significant push to the market over the coming years. Increasing incidence of these medical conditions has put positive impact on the growth of the market.

However, high installation costs and low treatment charges delay the recovery of the amount invested, which limits the adoption of the technology in hospitals and healthcare settings where the funds are limited.

Stereotactic Surgery Devices Market Trends

Radiosurgery is one of the effective treatments for cancer. Stereotactic radiosurgery helps in treating tumors with great precision using high dosage of radiations. Technological advancements in stereotactic radiosurgery help in increasing the precision and accuracy during the treatment. Moreover, stereotactic radiosurgery helps in focusing radiation dose on tumor cell lining, thereby minimizing the impact of the radiation on surrounding healthy tissues.

Various technologies are being incorporated in stereotactic radiosurgery and associated devices. Varian technology-based radiosurgery treatments help expand options for oncologists to treat various types of cancer. Varian Medical Systems offers Edge radiosurgery system, which is based on Varian technology and comprise other technological components. End users such as clinics can perform streamlined stereotactic radiosurgery with speed and precision using this advanced system.

Although stereotactic surgery has various advantages, high cost of stereotactic devices is expected to impede market growth. Stereotactic radiosurgery can be delivered using hardware or software such as standard Linear Accelerators (LINACs) or systems such as Gamma Knife. However, there is lack of reimbursement and funding to maintain such costly radiotherapy devices in many countries, which may negatively impact market growth. 

High cost of import and export for technologically advanced stereotactic radiosurgery devices is expected to hinder market growth. There is a noticeable increase in the number of cancer cases in countries such as India. Thus, India is importing stereotactic radiosurgery devices for the treatment of cancer. However, high cost involved in import of such devices is one of the factors impeding the adoption of stereotactic radiosurgery.

Product Type Insights

On the basis of product, the market is segmented into gamma knife, linear accelerator (LINAC), proton beam radiotherapy, and CyberKnife. LINAC accounted for the largest volume share owing to high number of installations and adoption. However, the CyberKnife segment is expected to expand at the highest CAGR in terms of both volume and value over the forecast period, owing to its growing popularity in developing countries.

High adoption of LINACs is attributed to its higher efficacy in treating the affected areas with a higher dosage of radiation while maintaining a lower risk of damage to healthy cells. Reduced surgical pain is also boosting its adoption over conventional radiotherapies. Moreover, a number of associations are undertaking awareness campaigns to educate people about new technologies and their advantages. The abovementioned factors are likely to contribute to the growth of the segment.

However, with the introduction of advanced technology enabling better visualization, the price of treatment has reduced, which has affected the return on investment, impeding the growth of the stereotactic surgery devices market. On the other hand, the CyberKnife segment is poised to exhibit the fastest growth over the forecast period. Some of the clinical benefits of CyberKnife are target specificity with a high dosage of radiation, continued visualization, and complete automation. These merits are projected to supplement the growth of the segment over the forecast period.

Regional Insights

North America dominated the overall market in 2017. The trend is anticipated to continue until 2025. The growth of the region can be attributed to growing prevalence of cancer, increasing government initiatives for creating awareness about availability of advanced treatment modalities, and presence of well-developed healthcare infrastructure.

The U.S. is the largest contributor in terms of revenue to the North American market. Higher spending capacity and domicile of major market players are the key factors that can be attributed to the dominance of the country within the region.

Eastern Europe does not have well-defined radiosurgery facilities. However, improving healthcare facilities and increasing adoption of new technologies are expected to boost market growth in Eastern Europe. The human stereotactic radiosurgery system market in Turkey and Russia is expected to grow at a significant rate mainly due to growing private sector and increasing installation base.

Government initiatives are expected to play a major role in driving market growth in France during the forecast period. For instance, Plan Cancer 2014 - 2019 primarily focuses on reinforcing efforts to curb inequality in uptake of & access to screening and increasing efficiency of programs to reduce avoidable deaths & severe treatments associated with delayed care. In addition, this program helps pediatric cancer patients by advising them about treatments at low costs. Thus, favorable reimbursement policies are likely to drive market growth in France during the forecast period. 

Rapidly developing economies, such as Brazil, Mexico, and Argentina, in Latin America are estimated to stimulate the growth of the regional market. Favorable regulatory policies and rising awareness among healthcare professionals regarding the benefits of stereotactic surgery devices are promoting the growth of the market.

Stereotactic Surgery Devices Market Share Insights

Some of the prominent companies operating in the market are Siemens Ag, Elekta AB, Varian Medical Systems, IBA, and Accuray Incorporated. Key players in the market are banking on strategies such as mergers & acquisitions and partnerships with small/local players to expand geographic foothold and widen product portfolios.

Stereotactic Surgery Devices Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, & country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global stereotactic surgery devices market report on the basis of device type and region:

• Product Type Outlook (Revenue, USD Million, 2014 - 2025)

  • Gamma Knife

  • LINAC

  • PBRT

  • CyberKnife

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

    • Greece

    • Italy

    • Spain

    • France

    • Belgium

    • Sweden

  • Asia Pacific

    • Japan

    • India

    • China

    • Australia

    • Singapore

    • South Korea

    • Malaysia

    • New Zealand

    • Indonesia

    • Hong Kong

  • Latin America

    • Mexico

    • Brazil

    • Argentina

  • MEA

    • Morocco

    • Kuwait

    • Iran

    • South Africa