By 2023, the Gamma Knife Market knives will be worth US$ 343.1 million. Throughout the projected period, the market is anticipated to expand at a CAGR of 5.7%, and by 2033, it is anticipated to reach a valuation of US$ 600 million.
Over the projected period, it is anticipated that significant technological improvements in the healthcare industry will increase demand for gamma knives. The computer-guided nature of the gamma knife procedure enables the surgeons to carry out the procedures with the utmost accuracy. A computer-guided approach also guarantees that surgeons can perform the treatment with excellent efficiency. The market share is anticipated to increase even more as a result of this and the use of imaging software.
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Other than that, there aren’t many side effects associated with gamma knife therapy. Also, the use of gamma knives is anticipated to increase during the projection period due to the fact that the entire treatment is performed utilising non-invasive techniques. The reason why the surrounding surroundings don’t see any form of reaction is because the beam solely hits the intended target.
The market share of gamma knives is anticipated to grow further as the number of brain tumour cases rises. Patients with brain tumours typically prefer to use the gamma knife since it is a non-invasive procedure when having surgery on one of the most delicate body parts. In addition, a rise in the number of obese patients is anticipated to drive up market size in the future. Also, there have been more neurological illnesses reported around the globe, which is predicted to further increase market share.
Furthermore, due to the many advantages linked with gamma knives, governments all over the world have been pushing their use. Most importantly, it is anticipated that the price of this operation would drop significantly due to the ongoing developments.
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.”
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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%.
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.
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Key Companies in Gamma Knife Market
- Elekta,
- Varian Medical Systems,
- Huiheng Medical, Inc.,
- Akesis, Inc
Gamma Knife Market Segmentation
By Disease Indication:
- Brain Metastasis,
- Cancer,
- Arteriovenous Malformation,
- Trigeminal Neuralgia,
- Others
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By Anatomy:
- Head,
- Neck,
- Other Body Parts
By Region:
- North America
- Latin America
- APAC
- MEA
- Europe
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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