Global Gamma Knife Market to surpass US$ 294.5 million by 2027, Says Coherent Market Insights (CMI)
/EIN News/ -- SEATTLE, June 03, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global gamma knife market is estimated to be valued at US$ 215.8 million in 2020 and is expected to exhibit a CAGR of 4.5% during the forecast period (2020-2027).
Key Trends and Analysis of the Global Gamma Knife Market:
The increasing number of product launches is expected to drive the growth of global gamma knife market. For instance, in May 2020, Elekta AB announced the launch of Leksell Gamma Knife Lightning, a next-generation treatment optimizer that represents a significant step forward in the already efficient workflows for the integrated Leksell Gamma Knife stereotactic radiosurgery (SRS) system. Leksell Gamma Knife Lightning is the only fully integrated automated treatment planning solution for Gamma Knife that enables plan optimization based on parameters that include beam-on time constraints.
Moreover, increasing prevalence of cancer and neurovascular diseases is driving demand for gamma knife procedure for treatment of cancer and neurovascular diseases, which is expected to drive the gamma knife market growth over the forecast period. For instance, according to the Central Brain Tumor Registry of the United States (CBTRUS) 2018, the incidence of all primary malignant and non-malignant brain tumors, and other Central Nervous System (CNS) tumors was 23.03 cases per 100,000 for 392,982 tumors in 2018 in U.S. According to the same source, an estimated 86,970 new cases of primary malignant and non-malignant brain and other CNS tumors were expected to be diagnosed in the U.S. in 2019.
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Key players are focusing on expanding their business in the market through inorganic growth strategies such as acquisitions. For instance, in May 2020, Elekta announced that it will further focus on cancer care providers and their patients through its acquisition of Kaiku Health. The Finland-based company is best known for the Kaiku Health app that monitors patient-reported outcomes, providing intelligent symptom tracking, and management for healthcare providers in routine oncology care and studies.
The increasing number of new technologies to treat tumors in the head, neck, and spine is expected to drive growth of the global gamma knife market. For instance, American Radiosurgery manufactured new RGS Orbiter, which will aid in the treatment of tumors in the head, neck, and spine, and entire body. This unique technology allows to treat tumors that cannot be treated using conventional gamma knife technology. The RGS Orbiter concept is unique. It is the first single-fraction Cobalt-60 radiosurgical system for treatment of lesions outside of the brain.
Key Market Takeaways:
North America gamma knife market is expected to exhibit a CAGR of 4.6% during the forecast period (2020-2027), as wide number of cancer centers in the U.S are offering new gamma knife technology. For instance, in 2016, Roswell Park Comprehensive Cancer Center become the first U.S.-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.
Moreover, Europe market is expected to exhibit significant growth in the gamma knife market due to rising adoption of gamma knife system in hospitals in the region. For instance, in 2017, Elekta announced that the Poliambulanza Foundation Hospital is the 50th health center globally and the first in Italy to treat patients with its Leksell Gamma Knife Icon stereotactic radiosurgery (SRS) system.
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Competitive Landscape:
Key players operating in the global gamma knife market include Elekta AB, American Radiosurgery Inc., and Masep Medical Science & Technology Development Co., Ltd.
Market Segmentation:
-
Global Gamma Knife Market, By Indication
- Brain Metastasis
- Arteriovenous Malformation (AVM)
- Trigeminal Neuralgia
- Others
-
Global Gamma Knife Market, By Anatomy
- Head
- Neck
- Others
-
Global Gamma Knife Market, By End User:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
-
Global Gamma Knife Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
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