The global Gamma Knife Market is expected to grow at a CAGR of 5.7% during the period 2023-2033. The market holds a valuation of US$ 343.1 million as of 2023, and by 2033, the market is expected to reach a valuation of US$ 600 million.
In its latest report, “Gamma Knife Market: Global Industry Analysis and Opportunity Assessment 2023-2033,” Future Market Insights (FMI) provides critical insights on the key regions in the global Gamma Knife market. Asia Pacific Excluding Japan (APEJ) will be the most lucrative region for the global Gamma Knife market by the end of 2025, according to the report.
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Rise in geriatric population and preference for less time-consuming treatment are the key factors fuelling the Gamma Knife market in North America. Other key market drivers include an increase in cancer prevalence and a shift toward painless and non-invasive surgeries.
The increase in per capita healthcare expenditure in North America is also fueling the Gamma Knife market. For example, 17.7% of America’s GDP was spent on healthcare in 2011. Increased funding for non-invasive treatment research is also boosting the Gamma Knife market in North America.
According to Cancer.org, nearly 1,658,370 new cancer cases are expected to be diagnosed in the United States in 2015. The demand for non-invasive treatment options is expected to rise as a result of these new diagnoses.
FMI expects Asia Pacific Excluding Japan (APEJ) to be the most profitable market by the end of the forecast period in terms of compound annual growth rate (CAGR) and market value.
The Asia Pacific Excluding Japan (APEJ) Gamma Knife market is currently valued at US$ 43.9 Mn and is expected to grow at a CAGR of more than 10% through 2025, reaching a valuation of US$ 131.5 Mn. APEJ is expected to account for nearly 30% of the market value share of the global Gamma Knife market by 2025.
The same factors that are propelling the North American Gamma Knife market are also propelling the APEJ market. However, the funding for research and development is expected to be comparatively lower than that in North America.
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Elekta, Varian Medical Systems, and Huiheng Medical are the market leaders in the Gamma Knife market.
Elekta’s Gamma Knife tools account for nearly 40% of total revenue. The company is well-known in North America and Europe. The company has strategic partnerships with prominent institutes, such as Swedish Cancer Institute and Ottawa Hospital.
According to FMI’s research on the Gamma Knife market, Elekta employs approximately 950 people in research and development. The company intends to capitalise on market opportunities and concentrate on the radiotherapy market. As market expectations rise, the company’s ability to expand the business beyond its existing installed base becomes critical.
North America is Varian Medical System’s most profitable market, accounting for nearly 46% of total revenues. In terms of brand recognition and technology, the company has a strong global presence.
Varian Medical System sees a significant opportunity to expand in invasive surgery equipment by leveraging established brands. However, there are no safeguards in place to protect patients and staff from high radiation levels.
The company is focusing on R&D activities for high-quality and software which require trained professional for usage and safety. These activities involve increasing interconnectivity of products for a seamless operation.
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Gamma Knife Market – Key Segment By Disease Indication:
- Brain Metastasis
- Cancer
- Arteriovenous Malformation (AVM)
- Trigeminal Neuralgia
- Others
By Anatomy:
- Head
- Neck
- Other Body Parts
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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