NEWARK, Del, Dec. 26, 2022 (GLOBE NEWSWIRE) -- The global gamma knife market is valued at US$ 343.1 million as of 2023. The market is expected to grow at a CAGR of 5.7% during the forecast period, and by 2033, the market is expected to reach a valuation of US$ 600 million.
Massive technological advancements in the healthcare sector are expected to surge the demand for gamma knives during the forecast period. The gamma knife process being a computer-guided treatment, allows the surgeons to perform the operations at the highest level of precision. Furthermore, a computer-guided method also ensures that surgeons are able to carry out the procedure with high efficiency. This, coupled with the usage of imaging software, is expected to further surge the market share.
Apart from that, there are hardly any side effects involved in the gamma knife treatment. Moreover, the entire process being carried out using non-invasive procedures is expected to surge the adoption of gamma knife during the forecast period. It is owing to the fact that the beam strikes only at the target, and because of this, the surrounding areas remain free from any kind of reaction.
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An increase in the number of brain tumour cases is expected to further increase the market share of gamma knife. Being a non-invasive technique, brain tumour patients generally prefer to go in for gamma knife while undergoing an operation related to one of the most sensitive body parts. Apart from that, an increase in the number of obese patients is also expected to surge the market size going ahead. The world has also been witnessing an increasing number of neurological disorders, which is expected to further surge the market share.
Moreover, even governments across the world have also been promoting the usage of gamma knife owing to the numerous benefits associated with them. Most importantly, because of the ongoing innovations, it is expected that the cost of this procedure would drastically come down.
Thus, from the insights provided by FMI researchers it can be concluded that “an increasing demand for non-invasive treatment procedures, coupled with an increase in the number of obese and cancer patients is expected to surge the gamma knife market.”
Key Takeaways:
- The gamma knife market is projected to grow at a CAGR of 5.7% during the period 2023-2033.
- As of 2023, the market is valued at US$ 343.1 million.
- By 2033, the gamma knife market is expected to be valued at US$ 600 million.
- By region, North America is the largest market for gamma knife.
- The USA market is the largest market in the North America region, and is expected to grow at a CAGR of 6.3% and is anticipated to be valued at US$ 150.9 million by 2033.
- The UK gamma knife market is expected to grow at a CAGR of 5.9% and is anticipated to be valued at US$ 26.4 million by 2033.
- China's market is expected to grow at a CAGR of 5.7% and is anticipated to be valued at US$ 148.5 million by 2033.
- Japan market is expected to grow at a CAGR of 4.6% and is anticipated to be valued at US$ 49.4 million by 2033.
- South Korea gamma knife market is expected to grow at a CAGR of 4.3% and is anticipated to be valued at US$ 30.3 million by 2033.
- Based on the disease indication, the brain metastasis segment had the largest market share and is expected to grow at a CAGR of 5.4%.
- Based on the anatomy, the head segment had the largest market share and is expected to grow at a CAGR of 5.1%.
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Competitive Landscape
The key players operating in the market are making the right moves by investing in mergers and acquisitions. This comes at a time when companies across the world are looking to expand their market share. Apart from that, the companies are also investing in strategic tie-ups with players belonging to other niches.
Some of the recent developments in the gamma knife market are:
- In October 2022, Varian and the Cincinnati Children's/University of Cincinnati Medical Center Proton Therapy Center Announce Promising Results from FAST-01, the First-in-Human Clinical Trial of Flash Therapy
- In October 2022, Elekta Unity demonstrated promising quality-of-life outcomes for pancreas and prostate cancers at ASTRO Annual Meeting.
Gamma Knife Market Segmentation
By Disease Indication:
- Brain Metastasis,
- Cancer,
- Arteriovenous Malformation,
- Trigeminal Neuralgia,
- Others
By Anatomy:
- Head,
- Neck,
- Other Body Parts
By Region:
- North America
- Latin America
- APAC
- MEA
- Europe
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2017-2022 and Forecast, 2023-2033
4.1. Historical Market Size Value (US$ Mn) Analysis, 2017-2022
4.2. Current and Future Market Size Value (US$ Mn) Projections, 2023-2033
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About Future Market Insights, Inc.
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