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- Report code : CMI-408
- Industry : Medical Devices
- Published On : Dec 2019
- Pages : 185 Pages
- Format :
Press Release: Gamma Knife Market to Surpass US$ 223.1 Million by 2027
Press Release: Gamma Knife Market to Surpass US$ 223.1 Million by 2027
Gamma Knife Market – Insights
Gamma knife is a highly focused radiation therapy for brain or spinal cancer involving a single treatment high-dose radiation. Cyberknife treats cancer anywhere in the body and has one to five radiation capability. Gamma knife therapy is considered to be safer than open-skull surgeries owing to these factors. The global gamma knife market is expected to grow gradually with increase in awareness. According to journal of neurosurgery 2016, there are more than 300 gamma knife centers around the globe, which are estimated to treat around 60,000 patients every year. However, there still exists a high demand-supply gap in Africa Countries. Furthermore, China, India, Thailand, South Korea, and Japan are leading countries in terms of the number of gamma knife centers.
The global gamma knife market size was valued at US$ 173.55 million in 2019, and is expected to witness a CAGR of 3.2% over the forecast period (2019 – 2027).
Global Gamma Knife Market Share (%) Analysis, By Indication, 2019
Source: Coherent Market Insights Analysis (2019)
Non-invasive precision therapy to favor the growth of global gamma knife market
Gamma knife radiotherapy involves convergence of 201 beams that can treat the tumor cell, leaving the surrounding healthy cells undamaged. With the help of pre-operative and diagnostic images from CT/MRI scans, the instrument provides highly accurate irradiation at the tumor site. This is a major factor that is driving demand for gamma knife radiotherapy in treating brain tumors. Application of this procedure is increasing further in the treatment of trigeminal neuralgia, and arteriovenous malformations.
Global Gamma Knife Market – Restraints
Growth of the global gamma knife market is expected to be hampered over the forecast period owing to increasing FDA recalls. For instance in May 2017, the U.S. food and drug administration recalled the Leksell Gamma Knife Icon developed by Elekta, Inc., under Class 2 Device Recall due to safety issue.
Global Gamma Knife Market - Regional Insights
On the basis of region, the global gamma knife market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global gamma knife market as a wide number of cancer centers in U.S. are offering the new gamma knife technology. For instance, in 2016, Roswell Park Comprehensive Cancer Center become the first American based cancer center and the second institution in the U.S. to implement Elekta’s new Leksell Gamma Knife Icon radiosurgery system, which expands the range of conditions that can be treated through gamma knife radiosurgery and gives more patients an option for cognition-sparing treatment of brain disorders. This new technology means that more patients with brain tumors and metastases will be able to receive this minimally invasive treatment at the center.
Asia Pacific is the fastest growing region in the global gamma knife market owing to increasing regulatory approvals for gamma knife systems. For instance, in 2018, Elekta's Leksell Gamma Knife Icon radiosurgery system has received clearance from the China Food and Drug Administration (CFDA), enabling health care providers in the country to offer this advanced technology to patients in China.
Global Gamma Knife Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027
Source: Coherent Market Insights Analysis (2019)
Global Gamma Knife Market - Competitive Landscape
Key players operating in the global gamma knife market include Elekta AB, Varian Medical Systems Inc., Huiheng Medical Inc., Cyber Medical Corporation Limited, Masep Infini Global Inc., ET Medical Group, Nordion Inc., Hokai and GE Healthcare.
Chronic neurological disorders such as metastatic brain tumors, trigeminal neuralgia, and arteriovenous malformations are complex to treat. Standard brain surgery and radiation therapy can damage healthy tissues and cause various side effects. Moreover, these treatment methods involve in-hospital post treatment care. Gamma knife is one of the most effective non-invasive technologies that is steadily gaining traction in the treatment of tumors. Gamma knife surgery represents a major advancement in brain surgery.
Market Dynamics
Increasing prevalence of neurological disorders is expected to drive growth of the global gamma knife market over the forecast period. For instance, according to the Institute for Health Metrics and Evaluation (IHME) 2019 reports, neurological disorders were the leading cause of (DALYs) The Disability-Adjusted Life Year (276 million) and second leading cause of deaths (9.0 million) globally in 2016.
However, high cost associated with utilization of this technology is restraining growth of the gamma knife market. For instance, according to the American City Business Journals 2016, the average cost of the gamma knife system is over US$ 5 million and construction of the bunker and its security costs around US$ 2 million for installation.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 35 market data tables and 33 figures on "Gamma Knife Market” - Global forecast to 2027
Asia Pacific Intelligence Center (India): 