Market scenario
The global stereotactic
surgery devices market size is expected to grow at a decent pace in the
forthcoming years as per the market study released by Market Research Future
(MRFR). The global market valuation stayed at USD 27.23 billion in 2030 and is
projected to grow with a CAGR of 4.6% during the forecast period 2022-2030.
Stereotactic
surgery is a surgical intervention method that is minimally invasive in nature
and uses a 3D coordinate system for locating small targets comprising inside
the body and performs various key actions like biopsy and ablation. This form
of surgery is used for the treatment and diagnosis of various neurological
conditions. In a stereotactic brain tumor surgery, the tumor is removed with
the help of image guidance which is obtained previously.
The market is
expected to showcase growth due to the increasing preference among the masses
for minimally invasive form of surgeries and increasing prevalence of
brain-related conditions like Parkinson’s disease. However, at the same time,
the market growth can be constrained due to the high cost of installation and
low charges of treatment which delays the recovery of the invested amount, one
which thereby limits the adoption of the technology.
Competitive Landscape
The global stereotactic
surgery devices market players includes, including GE Healthcare, Mitsubishi
Heavy Industries, Ltd., Ferring B. V., Huiheng Medical, Inc., Varian Medical
Systems, Koninklijke Philips N.V., Elekta AB, Accuray, Inc., Hitachi
Medical Systems, and Shinva Medical Instrument Co., Ltd.
Market Segmentation
The market
segmentation of the global stereotactic surgery devices is classified into the
following key dynamics: product type and application.
By application,
the market includes Parkinson’s disease, brain tumor, epilepsy, arteriovenous
malformations, and others.
By product type,
the market comprises of Linear accelerators (LINAC), gamma knife, proton beam
therapy, and cyberknife. The Linear Accelerators segment is projected to hold
the highest share of the market due to the growing rate of adoption and
installations. In addition to these, the cyberknife segment is expected to be
the fastest growing segment of mentioned product types over the assessment
period due to its proliferating popularity and demand across developing
economies.
Regional Analysis
The geographical
segmentation of the global stereotactic
surgery devices market insights covers the following key regions: the
Americas, Asia Pacific, Europe, and the Middle East & Africa.
The Americas is
the dominant region in the global landscape of stereotactic surgery devices.
The region is expected to continue its global dominance in the forthcoming
years as well. This is due to the increasing prevalence of neurological
diseases, high disposable income, and the presence of an established healthcare
infrastructure. The US contributes significantly to the overall Americas
market, and its projected growth is expected to propel the entire regional
market.
Europe holds the
second largest position in the global stereotactic surgery devices market. The
region is expected to hold on to its market position in the forthcoming years
due to the growing occurrence of brain-related disease and presence of an
established healthcare industry. The Asia Pacific region comprises of various
leading and developing economies in the world, namely India, China, Australia,
japan, Republic of Korea, and others. The region is expected to garner notable
growth due to similar factors as that of the European region.
Finally, the
Middle East & African regional market holds the least share in the global
landscape and is expected to garner minimal growth percentage during the
forecast period. The meagre growth of the region can be attributed to the
Middle East region’s developed healthcare industry and growing number of
initiatives undertaken by the government in favor of the healthcare sector. The
growth in this region, particularly in the Middle East, is primarily
spearheaded by countries like the United Arab Emirates (UAE) and Saudi Arabia.
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