NEWARK, Del, April 18, 2023 (GLOBE NEWSWIRE) -- The stereotactic surgery devices market is expected to increase from US$ 26.34 billion in 2023 to US$ 39.36 billion by 2033.
The primary factors driving demand for stereotactic surgery devices are rising demand for minimally invasive operations, increasing cancer prevalence, and technological improvement in stereotactic surgery equipment.
During the first half of the covid-19 pandemic, countries such as India and Malaysia saw a substantial drop in medical tourism. This is due to travel restrictions established by many countries in order to prevent the virus from spreading. Nonetheless, the government's numerous tactics for controlling the crisis, as well as mass vaccination efforts, assisted the economy in opening up and operating at full capacity. As a result, it aided the market's recovery at a rapid speed in the second half of the epidemic.
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With governments and various healthcare professionals focused on research and development and investments in the healthcare sector, the next developments might drive the expansion of the stereotactic surgery instruments industry. Furthermore, the increasing use of these devices in patients with arteriovenous malformations, epilepsy, and Parkinson's disease is likely to provide a substantial boost to the market in the future years. The rising prevalence of these medical disorders is also projected to accelerate the adoption of stereotactic surgery instruments.
One of the most effective cancer treatments is radiosurgery. Stereotactic radiosurgery allows for the precise treatment of malignancies with high-dose radiation. Technical improvements in stereotactic radiosurgery aid in boosting treatment precision. Moreover, stereotactic radiosurgery aids in concentrating radiation dose on tumor cell lining, reducing the influence of radiation on adjacent healthy tissues.
Stereotactic radiosurgery and accompanying equipment are incorporating a variety of technologies. Radiosurgery therapies based on Varian technology help physicians treat many forms of cancer. Varian Medical Systems provide the Edge radiosurgery system, which is based on Varian technology and includes other technological components. Clinics, for example, can employ this modern equipment to perform streamlined stereotactic radiosurgery with speed and precision.
Despite the numerous benefits of stereotactic surgery, the expensive cost of stereotactic instruments is projected to stymie market expansion. Stereotactic radiosurgery can be delivered using ordinary Linear Accelerators (LINACs) or systems such as Gamma Knife. Unfortunately, many nations lack the financing and money to maintain such expensive radiation systems, which may have a negative impact on market growth.
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Key Points from the Stereotactic Surgery Devices Market
- The market is expected to surpass US$ 39.36 billion by 2033.
- Rising surgical procedures, growing cancer prevalence, and increased government awareness campaigns are key factors boosting market expansion.
- Stereotactic surgery devices market is expected to hold a CAGR of 4.1% during the forecast period 2023 to 2033.
- North America dominated the stereotactic surgery devices market.
Key Developments in the Stereotactic Surgery Devices Market
- October 2021 - Ion Beam Applications SA announced the launch of the world's first online proton therapy platform.
- June 2021 - Navi Netics Inc. received premarket product approval from the US Food and Drug Administration for their NaviNeticsD1 Stereotactic System.
- June 2021 - Elekta AB gained product approval from the US FDA for their linear accelerator-based Elekta harmony radiation therapy system.
- May 2022 - Elekta AB introduced the Elekta Spirit, a Next-generation Gamma Knife that will offer individualized radiosurgery with sub-milli-meter accuracy and treatment planning in less than 60 seconds.
Among the Key Companies in the Global Stereotactic Surgery Devices Market are
- Koninklijke Philips N.V.
- Hitachi Medical Systems
- Huiheng Group
- Siemens Ag
- Elekta AB
- Varian Medical Systems
- IBA
- Accuray Incorporated
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Stereotactic Surgery Devices Market Key Segmentation
Stereotactic Surgery Devices Market by Product:
- Stereotactic surgery devices market for Gamma Knife
- Stereotactic surgery devices market for LINAC
- Stereotactic surgery devices market for PBRT
- Stereotactic surgery devices market for Cyber Knife
Stereotactic Surgery Devices Market by Application:
- Stereotactic surgery devices market for Liver
- Stereotactic surgery devices market for Breast
- Stereotactic surgery devices market for Prostate
- Stereotactic surgery devices market for Lung
- Stereotactic surgery devices market for Colon
Stereotactic Surgery Devices Market by Region:
- Stereotactic Surgery Devices in North America Market
- Stereotactic Surgery Devices in Europe Market
- Stereotactic Surgery Devices in Asia Pacific Market
- Stereotactic Surgery Devices in Latin America Market
- Stereotactic Surgery Devices in the Middle East & Africa Market
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Table of Content
1. Executive Summary | Stereotactic Surgery Devices Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Product, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Product, 2023 to 2033
5.4. Y-o-Y Growth Trend Analysis By Product, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Application, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application, 2023 to 2033
6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
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