The global Gamma Knife Market is expected to grow at a 5.7% CAGR between 2023 and 2033. As of 2023, the market is valued at US$ 343.1 million, and by 2033, the market is expected to be valued at US$ 600 million.
Future Market Insights’ (FMI) latest report, “Gamma Knife Market: Global Industry Analysis and Opportunity Assessment 2023-2033,” provides critical insights on the key regions in the global Gamma Knife market. According to the report, Asia Pacific Excluding Japan (APEJ) will be the most lucrative region for the global Gamma Knife market by the end of 2025.
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The growing geriatric population and a preference for less time-consuming treatments are driving the Gamma Knife market in North America. Another key market driver is an increase in cancer prevalence, as well as a shift toward painless and non-invasive surgeries.
The rise in per capita healthcare spending in North America is also boosting the Gamma Knife market. In 2011, for example, 17.7% of America’s GDP was spent on healthcare. Increased funding for non-invasive treatment research is also fueling the North American Gamma Knife market.
Cancer.org predicts that nearly 1,658,370 new cancer cases will be diagnosed in the United States in 2015. As a result of these new diagnoses, the demand for non-invasive treatment options is expected to rise.
In terms of compound annual growth rate (CAGR) and market value, FMI expects Asia Pacific Excluding Japan (APEJ) to be the most profitable market by the end of the forecast period.
The Asia Pacific Excluding Japan (APEJ) Gamma Knife market is currently valued at US$ 43.9 Mn, with a CAGR of more than 10% expected through 2025, reaching a valuation of US$ 131.5 Mn. By 2025, APEJ is expected to account for nearly 30% of the global Gamma Knife market in terms of market value.
The same factors that drive the North American Gamma Knife market also drive the APEJ market. However, funding for research and development will be significantly lower than in North America.
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Elekta, Varian Medical Systems, and Huiheng Medical are the market leaders in the Gamma Knife market.
The Gamma Knife tools from Elekta account for nearly 40% of total revenue. In North America and Europe, the company is well-known. The company has strategic alliances with prestigious institutions such as the Swedish Cancer Institute and the Ottawa Hospital.
Elekta employs approximately 950 people in research and development, according to FMI’s research on the Gamma Knife market. The company intends to seize market opportunities and focus on the radiotherapy market. As market expectations rise, the ability of the company to expand beyond its existing installed base becomes critical.
North America is the most profitable market for Varian Medical System, accounting for nearly 46% of total revenues. The company has a strong global presence in terms of brand recognition and technology.
By leveraging established brands, Varian Medical System sees a significant opportunity to expand in invasive surgery equipment. However, no safeguards are in place to protect patients and staff from high levels of radiation.
The company is concentrating on R&D activities for high-quality software that requires trained professionals for use and safety. These activities entail increasing the interconnectivity of products to ensure a smooth 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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