New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cyberknife Global Market Report 2023" - https://www.reportlinker.com/p06480014/?utm_source=GNW
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The global cyberknife market is expected to grow from $0.46 billion in 2022 to $0.55 billion in 2023 at a compound annual growth rate (CAGR) of 18%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cyberknife market is expected to reach $1 billion in 2027 at a CAGR of 16.46%.
The cyberknife market consists of sales of robotic linac, robotic manipulator, image guidance system, image tracking system.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The CyberKnife System is a non-invasive treatment for malignant and non-cancerous tumors and other disorders where radiation therapy is recommended. This allows for smaller treatment margins around the tumor, minimizing the amount of healthy tissue exposed to a high radiation dose.
North America was the largest region in the cyberknife market in 2022. The regions covered in cyberknife report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of cyberknife are linear accelerator-based and standalone cyberknife.Linear accelerator-based cyberknife refers to a cyberknife system that uses a linear accelerator (linac) installed directly on a robot to deliver the high-energy photons or X-rays required in radiation therapy.
A linear accelerator-based cyberknife device is used to deliver high-energy X-rays or photons used in radiation therapy. The cyberknife systems are used for treating tumors, cancer, vascular malformation, and others in hospitals, clinics, ambulatory surgical centers, radiotherapy centers, and others.
The increasing incidence of cancer is expected to propel the growth of the cyberknife market going forward.Cancer is a severe disorder in which the body’s cells reproduce fast and uncontrollably, resulting in abnormal growth.
Cyberknife is approved for treating a variety of cancers and is a non-invasive, non-surgical, pain-free treatment option where radiation therapy is indicated.The ongoing research and development activities to improve the cyberKnife system and expand its applications to other medical conditions are also expected to contribute to the growth of the market.
For instance, in September 2020, according to the report released by the National Cancer Institute, a US-based government agency, a projected 1,806,590 new cancer cases were identified in the US, while 606,520 people passed away from the illness. 1,730 cancer-related deaths and 16,850 new cancer diagnoses among kids and teenagers aged 0 to 19 are projected for 2020. By 2040, it’s anticipated that there will be 29.5 million new instances of cancer each year, and 16.4 million people will die from cancer. Further, according to a report by the American Cancer Society, the estimated number of new cancer Cases in 2021 was 1,898,160, which increased to 1,918,030 in 2022 Therefore, the increasing incidence of cancer is driving the growth of the cyberknife market.
Product innovations are a key trend gaining popularity in the cyberknife market.Major market players are concentrating their efforts on creating newer products, such as the development of improved imaging and treatment planning software and the development of new and enhanced accessories and peripherals, such as immobilization devices, respiratory gating systems, and other tools that help to improve the accuracy and precision of cyberknife treatments.
For instance, in June 2020, Accuracy, a US-based medical equipment manufacturing company, launched CyberKnife® S7™ System.It is a robotic, non-invasive radiation therapy device that can deliver all stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT) treatments in as little as 15 minutes.
This device combines speed, advanced precision, and real-time artificial intelligence (AI)-driven motion tracking and synchronization treatment delivery.
In September 2022, Standard Imaging, a US-based manufacturer of quality assurance solutions in radiation therapy, acquired Integrated Medical Technologies (IMT) for an undisclosed amount.This acquisition enables to better serve IMT customers by bringing together complementary solutions, expanding our bespoke production capabilities, and expanding IMT market segments in tissue equivalent dosimetry phantoms.
Integrated Medical Technologies (IMT) is a US-based provider of radiation therapy and medical imaging phantoms for radiotherapy and diagnostics.
The countries covered in the cyberknife market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The cyberknife market research report is one of a series of new reports that provides cyberknife market statistics, including cyberknife industry global market size, regional shares, competitors with a cyberknife market share, detailed cyberknife market segments, market trends, and opportunities, and any further data you may need to thrive in the cyberknife industry. This cyberknife market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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