The Gamma knives market is projected to be worth US$ 337.7 million in 2023. It is likely that the market will reach US$ 702.5 million by 2033. In addition, a 7.6% compound annual growth rate (CAGR) is anticipated for the industry between 2023 and 2033.
The rising incidence of brain tumours and neurological disorders around the world is one of the major factors boosting the market. The need for cutting-edge, minimally invasive treatment options like gamma knife market increases in tandem with the ageing population and the rise in brain-related conditions.
Because of its unmatched accuracy and efficacy in treating brain tumours and neurological disorders, the gamma knife market has seen impressive growth over the past few years. The Gamma Knife is a minimally invasive medical tool that targets and destroys abnormal brain tissues while sparing the healthy tissues around them using highly focused gamma rays. For patients with tumours, arteriovenous malformations (AVMs), trigeminal neuralgia, and other brain conditions, this precision makes it an ideal treatment option.
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Moreover, Gamma Knife offers numerous advantages over traditional brain surgery, such as reduced risk of complications, shorter recovery times, and minimal disruption to the patient’s daily life. This has resulted in higher patient acceptance and a growing preference for Gamma Knife treatments among both patients and healthcare providers.
Additionally, ongoing advancements in technology have further fueled the market’s expansion. Manufacturers are continuously improving the software and hardware components of the Gamma Knife system, enhancing its precision and treatment planning capabilities. The incorporation of 3D imaging and other advanced imaging modalities enables better visualization and targeting of the tumor or lesion, resulting in improved treatment outcomes.
Massive technological advancements in the healthcare sector are expected to surge the demand for gamma knives during the forecast period. The gamma knife process being a computer-guided treatment, allows the surgeons to perform the operations at the highest level of precision. Furthermore, a computer-guided method also ensures that surgeons are able to carry out the procedure with high efficiency. This, coupled with the usage of imaging software, is expected to further surge the market share.
Apart from that, there are hardly any side effects involved in the gamma knife treatment. Moreover, the entire process being carried out using non-invasive procedures is expected to surge the adoption of gamma knife during the forecast period. It is owing to the fact that the beam strikes only at the target, and because of this, the surrounding areas remain free from any kind of reaction.
An increase in the number of brain tumour cases is expected to further increase the market share of gamma knife. Being a non-invasive technique, brain tumour patients generally prefer to go in for gamma knife while undergoing an operation related to one of the most sensitive body parts. Apart from that, an increase in the number of obese patients is also expected to surge the market size going ahead. The world has also been witnessing an increasing number of neurological disorders, which is expected to further surge the market share.
Moreover, even governments across the world have also been promoting the usage of gamma knife owing to the numerous benefits associated with them. Most importantly, because of the ongoing innovations, it is expected that the cost of this procedure would drastically come down.
Thus, from the insights provided by FMI researchers it can be concluded that “an increasing demand for non-invasive treatment procedures, coupled with an increase in the number of obese and cancer patients is expected to surge the gamma knife market.”
Key Takeaways:
- The gamma knife market is projected to grow at a CAGR of 5.7% during the period 2023-2033.
- As of 2023, the market is valued at US$ 343.1 million.
- By 2033, the gamma knife market is expected to be valued at US$ 600 million.
- By region, North America is the largest market for gamma knife.
- The USA market is the largest market in the North America region, and is expected to grow at a CAGR of 6.3% and is anticipated to be valued at US$ 150.9 million by 2033.
- The UK gamma knife market is expected to grow at a CAGR of 5.9% and is anticipated to be valued at US$ 26.4 million by 2033.
- China’s market is expected to grow at a CAGR of 5.7% and is anticipated to be valued at US$ 148.5 million by 2033.
- Japan market is expected to grow at a CAGR of 4.6% and is anticipated to be valued at US$ 49.4 million by 2033.
- South Korea gamma knife market is expected to grow at a CAGR of 4.3% and is anticipated to be valued at US$ 30.3 million by 2033.
- Based on the disease indication, the brain metastasis segment had the largest market share and is expected to grow at a CAGR of 5.4%.
- Based on the anatomy, the head segment had the largest market share and is expected to grow at a CAGR of 5.1%.
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Competitive Landscape :
The key players operating in the market are making the right moves by investing in mergers and acquisitions. This comes at a time when companies across the world are looking to expand their market share. Apart from that, the companies are also investing in strategic tie-ups with players belonging to other niches.
Some of the recent developments in the gamma knife market are:
- In October 2022, Varian and the Cincinnati Children’s/University of Cincinnati Medical Center Proton Therapy Center Announce Promising Results from FAST-01, the First-in-Human Clinical Trial of Flash Therapy
- In October 2022, Elekta Unity demonstrated promising quality-of-life outcomes for pancreas and prostate cancers at ASTRO Annual Meeting.
Key Segments:
By Disease Indication:
- Brain Metastasis,
- Cancer,
- Arteriovenous Malformation,
- Trigeminal Neuralgia,
- Others
By Anatomy:
- Head,
- Neck,
- Other Body Parts
By Region:
- North America
- Latin America
- APAC
- MEA
- Europe
Author By:
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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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