Stereotactic Surgery Devices Market Opportunity Assessment, Market Challenges, Key vendor analysis, Vendor landscape by 2028
Market Highlights:
The global Stereotactic
Surgery Devices Market held a market value of USD 16.59 billion in the
year 2017 and is expected to grow at a CAGR of 5.2% during the forecast period.
Stereotactic surgery is a minimally invasive form of surgical intervention that
uses a 3D coordinate system to locate small targets inside the body and perform
actions such as ablation and biopsy. The rising preference for minimally
invasive surgeries, increasing adoption of stereo static surgery devices, and
growing prevalence of brain-related diseases such as Parkinson’s disease, brain
tumor, and others is anticipated to drive the growth of the market over the
assessment period. According to the National Tumor Society, an estimated
700,000 people in the US were living with a primary brain tumor in 2017 and
about 78,980 people are expected to be diagnosed for primary brain tumor in
2018. Moreover, according to reports published by Elekta AB company, an
estimated 70,000 patients undergo gamma knife surgery each year.
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On the other hand, the high installation cost and low
treatment charges delays the recovery of the invested amount which thus limits
the adoption of the technology. This factor is expected to hamper the growth of
the market over the forecast period.
Key Players:
Some of the prominent players in the global stereotactic
surgery devices market are Huiheng Medical, Inc., Mitsubishi Heavy
Industries, Ltd., GE Healthcare, Elekta AB, Koninklijke Philips N.V., Varian
Medical Systems, Hitachi Medical Systems, Accuray, Inc., Ferring B. V., and
Shinva Medical Instrument Co., Ltd.
Segmentation:
The global stereotactic surgery devices market has been
segmented into product type and application.
·
The global market, on the basis of product
type, has been segmented into gamma knife, Linear accelerators (LINAC),
proton beam therapy, and cyberknife. By product type, linear accelerators
(LINAC) segment is expected to hold largest market share owing to the growing
adoption rate and installations. Additionally, cyberknife is expected to be the
fastest growing segment over the assessment period owing to its growing
popularity in the developing economies.
·
On the basis of application, the market
has been segmented into brain tumor, arteriovenous malformations, Parkinson’s
disease, epilepsy, and others.
Regional Analysis:
Geographically, the Americas is expected to dominate the
global market owing to the rising prevalence of neurological diseases, presence
of developed healthcare infrastructure, and high disposable income. Europe is
anticipated to hold the second largest position in the global Stereotactic
Surgery Devices Market Trends The market growth in this region is mainly
due to the increasing occurrences of brain diseases and presence of developed
healthcare sector. The Asia-Pacific region is expected to be fastest growing
region owing to the growing prevalence of brain-related diseases and
continuously growing healthcare sector. The Middle East & Africa has the
least share of the market owing to the limited presence of developed healthcare
infrastructure in the African region.
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