PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1320172
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1320172
Gamma knife market size was valued at USD 480.9 Million in 2022, expanding at a CAGR of 5.3% from 2023 to 2030.
The gamma knife market is defined as the global market for gamma knife-related products & services and radiosurgery systems. Additionally, it is a non-invasive surgical technology utilized in the treatment of several neurological conditions, primarily other brain disorders. Moreover, it involves highly focused radiation beams to precisely target and treat certain areas of the brain while reducing damage to healthy surrounding tissues.
The Gamma Knife procedure does not require open surgery and it is non-invasive. In addition, it uses focused radiation beams to target and treat specific brain areas while sparing surrounding healthy tissues. It reduces side effects and the risk of complications over traditional surgical methods, making it a unique option for patients. Moreover, the benefits of Gamma Knife surgery are attributed to a growing awareness among healthcare and patient professionals. The acceptance and use of this technology are increasing globally as more clinical evidence supports its safety and efficacy. However, the product manufacturing high cost and lack of suitable infrastructure are expected to obstruct market growth. Furthermore, in gamma knife technology continued advancements present opportunities for market growth. In line with this, manufacturers can focus on treatment planning software, improving imaging capabilities, and radiation delivery systems to improve efficiency, precision, and patient outcomes. The applicability of Gamma Knife technology could also be expanded by developing more versatile and compact systems. This, in turn, such factors projected to drive the gamma knife market demand.
The global gamma knife market is segmented on the basis of disease indications, anatomy, end user, and region.
The market is divided into eight categories based on disease indications: cancer, ocular diseases, brain metastasis, vascular disorders, functional disorders, movement disorders, trigeminal neuralgia, arteriovenous malformation (AVM), and others. The cancer segment is expected to dominate the market over the forecast period owing to the new cancer cases and cancer death. Additionally, in this case, an essential thing to remember is a particular portion of the market is made up of brain cancer. Moreover, when a patient's cancer is surmounted to stage four, there is a considerable possibility that it has affected the patient's brain. Thus, these elements are attributed to increasing segment growth.
The market is divided into two categories based on anatomy: neck, head, and others. The head segment is likely to maintain its dominance in the market. The effective and the non-invasive treatment of deep tumors in the head using this method, owing to such factors propelling the segment demand. Additionally, neurosurgery poses a great risk to the safety of the patient, thus deep tumors or cancer in the head is majorly done by gamma knife treatment.
The market is divided into three categories based on end-users: ambulatory service centers, hospitals, and clinics. The hospital segment is likely to possess the largest revenue share in the market. In the healthcare sector, the increasing technological advancement is expected to surge segment growth. Moreover, as a computer-guided treatment, the gamma knife process enables surgeons to perform the procedure at the highest level of accuracy. This is attributed to the surge in the market share while also promoting the utilization of imaging software.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
The gamma knife market is rising steadily owing to the increasing incidence of neurological disorders. Moreover, the global gamma knife market is driven by growing R&D activities, collaboration, and new product launches. One of the main elements fueling the market's rapid rise is strategic initiatives by the key market players including technology, availability, product cost, and performance. Furthermore, to acquire a competitive advantage key players are expanding their product offerings. For instance, Leksell GammaPlan is advanced treatment planning and management software that is fully compatible with Leksell Gamma Knife and is particularly designed to meet intracranial radiosurgery requirements. Additionally, it offers certain tools that make complete use of the advanced technology implemented into the system while ensuring efficient and safe treatment workflows.
For instance, in October 2022, Varian and Cincinnati Children's/University announced clinical trial results from FAST-01 (FeAsibility Study of Flash Radiotherapy for the Treatment of Symptomatic Bone Metastases), the first-in-human experience of proton Flash and the first clinical trial of ultra-high dose rate Flash therapy.
The scope of this report covers the market by its major segments, which include as follows: