The global veterinary stereotactic radiosurgery system market is expected to witness moderate growth during the forecast period between 2021 and 2031.
The global veterinary stereotactic radiosurgery system market is expected to witness moderate growth during the forecast period between 2021 and 2031.
Veterinary stereotactic radiosurgery systems are devices which are deployed for radiation therapy, with the help of special equipment, to accurately position the patients and provide a single dose of radiation to a tumor.
COVID-19 pandemic negatively impacted the growth in the global veterinary stereotactic radiosurgery system market. With rising cases globally, governments imposed strict social distancing regulations and lockdowns in a bid to contain the spread of the virus.
This led to veterinary hospitals and clinics performing reduced number of radiation therapies and impacted the demand for stereotactic radiosurgery systems in veterinary facilities.
Continuous growth in the mhealth segment, with the emergence of different applications, is anticipated to also contribute to market growth, during the post-pandemic phase.
Veterinary Stereotactic Radiosurgery System Market - Trends and Opportunities
Rising demand for stereotactic radiosurgery to treat pets suffering from cancer is the key growth driver for the global veterinary stereotactic radiosurgery system market.
Another factor that could create lucrative revenue-generating opportunities for market players in future could be increasing pet population suffering from different forms of cancer in both developed and developing economies.
In addition to this, rising adoption of remodelled stereotactic machinery for veterinary purposes in a bid to reduce the operational costs could trigger the growth in the global veterinary stereotactic radiosurgery system market, in future.
Other factors such as the development in the mhealth segment and novel, emerging trends in the cancer diagnostics tests market could bolster the overall veterinary stereotactic radiosurgery system market, in years to come.
Particle beam radiation therapy segment is expected to make the largest contribution, in terms of revenue, to the overall market because of increased benefits such as reduced irritation to tissues and efficient treatment, with decreased radiation effects, projected to fuel demand in future.
Veterinary Stereotactic Radiosurgery System Market - Competitive Landscape
With the presence of several well-established market players, the competition in the global veterinary stereotactic radiosurgery system market is intense. It is anticipated that many of these players will account for a large share in the overall market, in future.
Prominent market players could look to engage in growth strategies such as novel product launches which could create new opportunities to generate revenue for leading players and gain a competitive edge over other players, in future.
Well-established veterinary stereotactic radiosurgery system market players could sign collaborative deals with smaller players in a bid to expand their market presence and increase their revenue shares.
Some of the leading players in the global veterinary stereotactic radiosurgery system market include Accuray, PetCore Oncology, Elekta AB, and Varian Medical Systems.
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Veterinary Stereotactic Radiosurgery System Market - Regional Assessment
North America is expected to offer maximum revenue-generating opportunities for the overall veterinary stereotactic radiosurgery system market because of growing cancer prevalence among different pets in countries such as US and Canada.
Growth in the disease among pets could play a key role in raising the demand analysis for cancer diagnostic tests, which could contribute to market growth in the region.
Also, development in the mhealth segment with huge investments by leading players could assist in the growth of the veterinary stereotactic radiosurgery system market, too.
Europe is anticipated to witness significant growth in the overall market because of increasing government initiatives to conduct research and development undertakings such as development of centers to conduct research activities in veterinary radiation oncology in countries such as UK and Germany.
Asia Pacific is projected to witness strong growth in the global veterinary stereotactic radiosurgery system market because of growing willingness to take improved care of pets among families residing in countries such as India and China.
The rest of the world is expected to witness moderate growth in the veterinary stereotactic radiosurgery system market, in years to come.
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