Stereotactic systems are mostly used in minimally invasive surgical technique for precisely directing the tip of a delicate instrument or beam of radiation in three-dimensional coordinates to locate target part inside the body and to perform ablation, biopsy, lesion, injection, stimulation, implantation, radiosurgery (SRS), and others. Stereotaxic surgery is mostly used to locate lesions in the brain and deliver radiation therapy for the treatment of Parkinson’s disease. During radiation therapy, it is used to focus high-intensity radiation on targeted areas to shrink tumors. Stereotactic systems are effective for guiding fine-needle aspiration biopsies of brain lesions.
Stereotactic Systems Market Drivers
Rapid innovation in minimally invasive surgery techniques is one of the major factors, which is expected to boost growth of the stereotactic systems market. For instance, in November 2018, Monteris Medical, published the favorable clinical data for its NeuroBlate Laser Ablation after Stereotactic Radiosurgery (LAASR) for patients with brain metastasis in the Journal of Neurosurgery. The NeuroBlate System is a minimally invasive, robotically controlled laser thermotherapy that uses MRI-guided laser light to ablate unwanted tissue in the brain where the lesion originates. Monteris is exclusively focused on advancing both LITT technology and clinical research to serve the unmet needs of neurosurgeons and their patients.
Furthermore, in December 2017, the U.S. Food and Drug Administration approved GammaPod, new system of Xcision Medical Systems, LLC. GammaPod is a noninvasive stereotactic radiotherapy system intended for treating cancer in breast tissue.
Moreover, in March 2018, Sunway Medical Centre (SunMed), Malaysia’s multi-disciplinary Medical Centre, introduced Leksell Gamma Knife Icon (an advanced radiation machine, which was manufactured by Elekta AB). It is used for the treatment of various neurological disorders and brain conditions that require open brain surgery.
Stereotactic Systems Market Restraints
However, some risk factors associated with the use of stereotactic systems may hamper growth of the market. For instance, in November 2018, the clinical trial for stereotactic body radiation therapy, sponsored by Case Comprehensive Cancer Center, was terminated due to major side effects while treating patients with advanced head and neck cancer.
Stereotactic Systems Market- Regional Analysis
On the basis of region, the global stereotactic systems market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
Based on region, North America is projected to gain major share in the stereotactic systems market, owing to expansion of various key players in this region. For instance, in March 2016, Monteris Medical, a privately held company, started developing innovative laser-based MRI-guided neuroablation tools and solutions in its new facility unit in Plymouth, Minnesota. Moreover, increasing prevalence of Parkinson's disease (PD) creates demand for stereotactic systems for treating the disease, which will in turn boost growth of the market. For instance, in March 2018, the Parkinson’s Foundation Prevalence Project estimated that about 60,000 Americans are diagnosed with PD each year. This number is predicted to rise to 1.2 million in upcoming years. The combined cost of Parkinson’s disease, including treatment, social security payments, and lost income from inability to work, is estimated to be nearly US$ 25 bn per year in the U.S. alone.
Furthermore, increasing initiatives by healthcare industry to support new projects in order to promote various healthcare startups in the Asia Pacific region is expected to expand growth of the stereotactic system market. For instance, in October 2018, Asia Pacific Medical Technology Association (APACMed) in partnership with U.S.-based MedTech Innovator, launched MedTech Innovator Asia. The main objective of MedTech Innovator Asia is to accelerate the growth of the most promising medical device, digital health, and diagnostic startups in the Asia Pacific region.
Key players in the stereotactic system market include Alliance HealthCare Services, Micromar Ind. e Com. LTDA, adeor Medical AG, Monteris Medical, Elekta AB., and inomed Medizintechnik GmbH.
Stereotactic Systems Market Taxonomy
By Equipment Type
By End User
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.