Gamma Knife Market Growth & Trends
The global gamma knife market size is expected to reach USD 239.2 million by 2025, expanding at a CAGR of 3.7%, according to a new report by Grand View Research, Inc. Increasing prevalence of cancer, brain tumors, and other neurological diseases, rising adoption of these instruments in surgery centers, growing preference for Minimally Invasive Surgeries (MIS), and technological advancements in the device are amongst few factors expected to drive the market.
Gamma knife therapy is used for treatment of various brain and neurological disorders such as brain tumors, brain metastases, epilepsy, and arteriovenous malformations. Demand for these instruments in surgery centers is growing due to their various advantages such as safety, micro precision, lack of postsurgical complications, and lack of incisions.
Technological advancements have improved precision in surgery. For instance, upgradation of Leksell Gamma Knife models U, B, C/4C, and Perfexion to Icon provided micro precision in surgery and boosted adoption of this device in surgery centers. According to reports published by Elekta AB, approximately 70,000 patients undergo gamma knife surgery each year. This number is expected to increase over the forecast period owing to rising prevalence of target diseases and increasing preference for MIS.
In addition, growing demand for MIS over open surgeries is one of the key factors responsible for increasing adoption of this therapy. Gamma knife treatment procedure results in fewer traumas and faster recovery as compared to open surgeries. It helps reduce hospital stays, thus ensuring economic viability and reduction in medical expenses. Lack of incisions and postsurgical complications are key factors responsible for boosting demand for minimally invasive surgeries.
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Gamma Knife Market Report Highlights
Global gamma knife market size was estimated at USD 171,505.7 thousandin 2016 and is expected to grow at a CAGR of around 3% from 2017 to 2025
Malignant tumors emerged as the largest segment and the ocular diseases segment is anticipated to witness fastest growth over the next 8 years
The Asia Pacific region is anticipated to witness lucrative growth over the next decade owing to rising incidence of cancer, developments in healthcare infrastructure, and rapid economic development across major emerging economies. It is expected to grow at a CAGR of around 4% over the forecast period
Elekta AB is the only player operating in this market since Gamma Knife is a patent-protected trademark product of the company.