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.
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.
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.
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.
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.
Report Attribute |
Details |
Market size value in 2020 |
USD 22,282.2 million |
Revenue forecast in 2025 |
USD 25,926.6 million |
Growth Rate |
CAGR of 4.9% from 2018 to 2025 |
Base year for estimation |
2017 |
Historical data |
2014 - 2016 |
Forecast period |
2018 - 2025 |
Quantitative units |
Revenue in USD million and CAGR from 2018 to 2025 |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors and trends |
Segments covered |
Product type, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
Country scope |
U.S.; Canada; U.K.; Germany; Greece; Italy; Spain; France; Belgium; China; Japan; India; Australia; Singapore; South Korea; Malaysia; New Zealand; Indonesia; Hong Kong; Brazil; Mexico; Argentina; Africa; Kuwait; Morocco; Iran |
Key companies profiled |
Siemens Ag; Elekta AB; Varian Medical Systems; IBA; Accuray Incorporated |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
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
b. The global stereotactic surgery devices market size was estimated at USD 20,570.2 million in 2019 and is expected to reach USD 22,282.2 million in 2020.
b. The global stereotactic surgery devices market is expected to grow at a compound annual growth rate of 4.9% from 2018 to 2025 to reach USD 25,926.6 million by 2025.
b. North America dominated the stereotactic surgery devices market with a share of 40.9% in 2019. This is attributable to the growing prevalence of cancer, increasing government initiatives for creating awareness about the availability of advanced treatment modalities, and the presence of well-developed healthcare infrastructure.
b. Some key players operating in the stereotactic surgery devices market include Siemens Ag, Elekta AB, Varian Medical Systems, IBA, and Accuray Incorporated.
b. Key factors that are driving the market growth include rising surgical procedures growing prevalence of cancer, and increasing government initiatives for creating awareness.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.