Stereotactic Surgery Devices Market To Reach USD 24.73 Billion By 2027 – Reports and Data
Growing demand for minimally invasive surgery is one of the significant factors influencing market growth.
The global stereotactic surgery devices market is expected to reach USD 24.73 Billion by 2027, according to a new report by Reports and Data. Stereotactic surgery is a form of minimally invasive surgical technique used to treat functional defects and small tumors of the brain.
Growing demand for minimally invasive surgery is likely to stimulate market demand. These procedures provide various advantages, such as faster recovery time, lower risk of bleeding, lower risk of pain, lower risk of infection, and smaller scars for patients undergoing surgeries with larger incisions that need removal of parts of the skull. Minimally invasive surgery is meant especially for those patients having tumors and abnormalities that are hard to reach, subject to movement within the body, or located close to vital organs and anatomic regions.
In the first quarter of 2019, it has been estimated that 13,410 men and 10,410 women (23,820 adults) in the U.S. will undergo diagnosis with primary cancerous tumors related to brain and spinal cord. Brain tumors are responsible for 85.0% to 90.0% of all primary CNS (central nervous system) tumors. Moreover, approximately 3,720 children below the age of 15 years will undergo diagnosis in the years 2019. Brain and nervous system cancer occupies the 10th spot in the leading global cause of death. Also, it has been estimated that 9,910 men and 7,850 women (17,760 adults) will suffer death from primary cancerous brain and central nervous system tumors. Thus, the increasing occurrence of brain tumors are causative in the market growth.
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Further key findings from the report suggest
- By product type, proton beam radiation therapy contributed to the second-largest market share in 2018 and is expected to grow at a rate of 4.1% in the forecast period. This therapy targets tumors and cancer cells with extreme precision and helps in reducing overall toxicity. Also, it reduces the possibility of severity of short and long term side-effects on healthy tissues and organs in the vicinity, thereby reduces the chances of secondary tumors that may be caused by treatment.
- By application, brain tumor treatment dominated the market in 2018 and is likely to witness a growth rate of 5.8% in the forecast period.
- By end-users, hospitals dominated the market in 2018. The factors including well-resourced operating & diagnostic rooms, higher purchasing power, existence of highly skilled healthcare professionals, and improved health coverage for hospital-based healthcare services from several private and group insurance plans, among others, are responsible for the high market share of hospitals.
- North America held the largest market share in 2018 and is estimated to experience a growth rate of 4.1% in the period 2019-2026. The market dominance of North America is owing to the presence of advanced healthcare facilities and increasing acceptance of new technologies in the region.
- Key participants include Elekta AB, Accuracy Inc., Ion Beam Applications SA, Mevion Medical Systems, Micromar, Inomed, Alliance Oncology, Medical AG, Monteris Medical, and Varian Medical Systems Inc., among others.
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For the purpose of this report, Reports and Data have segmented the global stereotactic surgery devices market on the basis of product type, application, end-users, and region:
Product Type Outlook (Revenue, USD Million; 2016-2027)
- Gamma Knife
- Linear Accelerator
- Proton Beam Radiation Therapy
- Cyber Knife
Application Outlook (Revenue, USD Million; 2016-2027)
- Brain Tumor Treatment
- Arteriovenous Malformations Treatment
- Parkinson’s Disease Treatment
- Epilepsy Treatment
End-Users Outlook (Revenue, USD Million; 2016-2027)
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Regional Outlook (Revenue, USD Million; 2016-2027)
- North America
- Asia Pacific
- Latin America
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