PUBLISHER: The Business Research Company | PRODUCT CODE: 1415643
PUBLISHER: The Business Research Company | PRODUCT CODE: 1415643
“Radiosurgery And Radiotherapy Robotics Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on radiosurgery and radiotherapy robotics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for radiosurgery and radiotherapy robotics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The radiosurgery and radiotherapy robotics market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Radiosurgery and radiotherapy robotics encompass medical procedures that utilize advanced technology to precisely administer radiation doses to targeted areas of the body. These procedures are employed to treat a variety of medical conditions and play a pivotal role in contemporary healthcare. The integration of robotics enhances the precision and effectiveness of cancer treatment, while minimizing harm to adjacent healthy tissues.
The primary product categories within radiosurgery and radiotherapy robotics include those based on X-rays, gamma-rays, and proton beams. X-rays are a form of high-energy electromagnetic radiation that can penetrate most substances. These products find application in various treatments, encompassing external beam radiotherapy, internal beam radiotherapy (brachytherapy), and are employed by healthcare facilities such as hospitals and clinics.
The radiosurgery and radiotherapy robotics market research report is one of a series of new reports from The Business Research Company that provides radiosurgery and radiotherapy robotics market statistics, including radiosurgery and radiotherapy robotics industry global market size, regional shares, competitors with a radiosurgery and radiotherapy robotics market share, detailed radiosurgery and radiotherapy robotics market segments, market trends and opportunities and any further data you may need to thrive in the radiosurgery and radiotherapy robotics industry. This radiosurgery and radiotherapy robotics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The radiosurgery and radiotherapy robotics market size has grown strongly in recent years. It will grow from $4.15 billion in 2023 to $4.36 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to prevalence of cancer, demand for minimally invasive surgical techniques, increase in funding for medical robot research, global healthcare infrastructure.
The radiosurgery and radiotherapy robotics market size is expected to see strong growth in the next few years. It will grow to $5.37 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to aging population, rising acceptance of robotic technology, high tumor-treating effectiveness, government support for the radiosurgery, growing awareness of the benefits of radiosurgery and radiotherapy robots. Major trends in the forecast period include ai-assisted treatment planning, radiomics and big data analysis, remote consultations and telesurgery, nanotechnology integration, high technical of radiosurgery robotics development.
The radiosurgery and radiotherapy robotics market is poised for growth, primarily due to the escalating prevalence of cancer. Cancer represents a group of diseases that can originate in virtually any organ or tissue within the body, characterized by the uncontrolled proliferation of abnormal cells that can breach their natural boundaries and spread to other organs or invade nearby tissues. In the realm of cancer treatment, radiosurgery and radiotherapy robotics assume a vital role by offering high precision in terms of geometric accuracy, facilitating precise placement and imaging, and presenting advanced therapeutic options for a wide range of cancer types, including pancreatic cancer. For instance, in 2023, the American Cancer Society Inc., a non-profit health organization based in the United States, projects the diagnosis of approximately 1.9 million new cancer cases, marking an increase from the 1.8 million new cases reported in 2020. Additionally, it anticipates 609,820 cancer-related deaths in the US in 2023, up from 606,520 deaths recorded in 2020. Consequently, the growing prevalence of cancer is a significant driver behind the expansion of the radiosurgery and radiotherapy robotics market.
The increasing demand for minimally invasive procedures is poised to drive the expansion of the radiosurgery and radiotherapy robotics market. Minimally invasive procedures, often referred to as MIPs, involve performing surgeries through small incisions in the body, typically employing specialized instruments and cameras inserted through these incisions. In the context of radiosurgery and radiotherapy, robots are used to precisely deliver radiation doses to target malignancies with a level of accuracy and consistency that surpasses traditional methods, as robots are capable of highly accurate and consistent movements. As an illustration, in January 2023, the International Society of Aesthetic Plastic Surgery (ISAPS) reported a 19.3% increase in the overall number of procedures conducted by plastic surgeons in 2021 compared to 2020, encompassing more than 17.5 million non-surgical procedures carried out globally. Consequently, the surging demand for minimally invasive procedures is a significant driver of the radiosurgery and radiotherapy robotics market's growth.
The radiosurgery and radiotherapy robotics market could face challenges in its growth trajectory due to the high costs associated with these technologies. The initial investment required for acquiring radiosurgery and radiotherapy robotic systems can be substantial, and ongoing expenses related to maintenance and upgrades can also add to the financial burden. These cost factors may pose significant barriers, particularly for smaller healthcare facilities or those operating within limited budgets, in the adoption of these advanced technologies. As an example, data from the National Library of Medicine in October 2021 revealed that median prices for different radiosurgery and radiotherapy procedures, such as Gamma Knife (GK), Fractionated Stereotactic Radiation Therapy (FSRT), and Stereotactic Radiosurgery (SRS), ranged from $22,915 to $49,529. Furthermore, these prices exhibited considerable variation, with some values reaching two to nine times the median prices. For instance, the median price for Gamma Knife (GK) was reported at $111,298, while Fractionated Stereotactic Radiation Therapy (FSRT) had a median price of $312,480, and Stereotactic Radiosurgery (SRS) had a median price of $104,396. Consequently, the high costs associated with radiosurgery and radiotherapy robotics present a hindrance to the growth of this market.
Leading companies in the radiosurgery and radiotherapy robotics market are actively embracing innovative technological solutions to maintain their competitive edge. One such advancement is the implementation of a dynamic surface positioning and monitoring system, designed for surface-guided radiation therapy (SGRT). This system employs a thermal-surface camera to continuously monitor patient positioning and detect any movement during the treatment process. For example, in May 2023, Brainlab, a Germany-based developer of software and hardware solutions for radiotherapy and radiosurgery, introduced the ExacTrac Dynamic Surface Positioning and Monitoring System. This single-camera unit solution ensures uniformity across radiation departments and enables ongoing patient monitoring, especially during breath-hold treatments. The primary objective of ExacTrac Dynamic Surface is to establish consistency throughout the department while delivering precise tracking. Clinicians can easily integrate ExacTrac Dynamic Surface into their workflows, benefiting from a short learning curve and a user-friendly interface that remains consistent across different linear accelerators.
In May 2022, Brainlab AG, a German medical technology company, completed the acquisition of medPhoton GmbH for an undisclosed sum. This strategic move is anticipated to enable Brainlab to broaden its range of innovative radiotherapy products. medPhoton GmbH, headquartered in Austria, specializes in radiosurgery and radiotherapy robotics and is renowned for its development and production of robotic imaging solutions tailored for image-guided radiation therapy and navigational surgery.
Major players in the radiosurgery and radiotherapy robotics market are Mitsubishi Electric Corporation, Hitachi Ltd., Siemens Healthineers AG, Medtronic PLC, Elekta AB, Shinva Medical Instrument Co. Ltd., Neusoft Medical Systems Co. Ltd., Accuray Incorporated, Sumitomo Heavy Industries Ltd., Ion Beam Applications SA, Brainlab AG, ViewRay Inc., Zhuhai Hokai Medical Instruments Co. Ltd., RaySearch Laboratories AB, Mevion Medical Systems Inc., Vision Rt Limited, Sun Nuclear Corporation, Panacea Medical Technologies Pvt. Ltd., C-Rad AB, Radiadyne LLC, ProTom International Holding Corporation, CIVCO Radiotherapy, Standard Imaging Inc., Intraop Medical Corporation, Best Medical International Inc., Modus Medical Devices Inc., Mirada Medical Ltd.
North America was the largest region in the radiosurgery and radiotherapy robotics market in 2023. The regions covered in radiosurgery and radiotherapy robotics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the radiosurgery and radiotherapy robotics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The radiosurgery and radiotherapy robotics market consists of sales of gamma knife, robotic arm, linear accelerator, imaging systems and TrueBeam 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 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.