NEWARK, Del, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The global gamma knife market is anticipated to reach a valuation of US$ 337.7 million in 2023, driven by ongoing research and development efforts. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 7.6% between 2023 and 2033 and reaching a total valuation of approximately US$ 702.5 million by 2033.
One of the major factors contributing to the growth of the gamma knife market is the global healthcare initiatives. Public and private initiatives to improve healthcare infrastructure, especially in developing nations, can create opportunities for gamma knife providers to expand their reach.
Comprehensive support services, including post-treatment care and counseling, can enhance patient experience and satisfaction. Efforts to harmonize regulatory standards across regions can simplify the approval process for gamma knife systems, making it easier to enter new markets.
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The shift toward value-based healthcare models, which focus on the quality and outcomes of care, can drive the adoption of technologies like gamma knife that offer high precision and effectiveness. Patients seeking high quality, cost-effective treatment options may travel across borders to receive gamma knife treatment, creating opportunities for international patient referrals and collaborations between healthcare institutions.
There is a growing opportunity for adopting gamma knife systems as healthcare infrastructure and access to advanced medical technologies improve in emerging markets. Advances in genomic profiling and molecular diagnostics can help identify patients who would benefit most from gamma knife radiosurgery, leading to targeted treatment plans.
Integrating remote monitoring and data analytics can enable healthcare providers to track patient outcomes, treatment effectiveness, and machine performance, leading to continuous improvement in gamma knife procedures.
The development of hybrid operating rooms, equipped with both surgical and radiological technologies, can promote the use of gamma knife alongside other surgical interventions. AI and machine learning applications can assist in treatment planning, making Gamma knife procedures even more precise and efficient.
Offering flexible financing options to patients can help make gamma knife treatment more accessible and affordable, driving patient demand. Improving the overall patient experience, including comfort and convenience during treatment, can be a differentiating factor for gamma knife centers.
Key Takeaways from the Gamma Knife Market Study
- The global gamma knife market was valued at US$ 313.8 million by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 7.2%.
- The market in India is expected to expand at a CAGR of 11.4% through 2033.
- By disease, the brain metastases segment to account for a share of 69.2% in 2033.
- From 2023 to 2033, the gamma knife market is expected to flourish at a CAGR of 7.6%.
- By 2033, the market value of gamma knife is expected to reach US$ 702.5 million.
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Gamma knife can complement regenerative medicine and stem cell therapies by providing a precise means of targeting specific areas in the brain for treatment, remarks Sabyasachi Ghosh, Associate Vice President at Future Market Insights, Inc.
Competitive Landscape from the Gamma Knife Market:
Prominent players in the gamma knife market are Elekta, Varian Medical Systems, Huiheng Medical, Inc., Akesis, Inc., MASEP Medical Science Technology Development (Shenzhen) Co., Ltd., American Radiosurgery Inc., Panacea Medical Technologies Pvt. Ltd., Nordion (Canada) Inc., Accuray Incorporated, and Hitachi, Ltd., among others.
Recent Developments in the Gamma Knife Market:
- In 2023, Varian announced the launch of its new Varian gamma knife icon system. The system features a more compact design, improved image guidance, and a faster treatment delivery system.
- In 2022, Akesis announced the launch of its new Akesis Galaxy SRS system. The system is the first and only gamma knife system to use a linear accelerator instead of a cobalt 60 source.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global gamma knife market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the gamma knife market, the market is segmented on the basis of disease indication (brain metastasis, cancer, arteriovenous malformation, trigeminal neuralgia, and others), and organ treated (head, neck, and other body parts), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
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Segmentation Analysis of the Gamma Knife Market:
By Disease Indication:
- Brain Metastasis
- Cancer
- Arteriovenous Malformation
- Trigeminal Neuralgia
- Others
By Anatomy:
- Head
- Neck
- Other Body Parts
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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