US$ 400 Million Opportunity in the Global Gamma Knife Market
According to the report, the global gamma knife market was valued at US$ 156.8 Mn in 2014 and is anticipated to reach US$ 411.0 Mn by 2025, registering a compound annual growth rate of 9.0% over the forecast period.
Radiation therapy is a procedure entailing the precise delivery of high doses of radiation to tumors and other relevant anatomical targets. Gamma Knife radiosurgery is a major form of radiation therapy. It is mainly used to treat brain tumors, arteriovenous malformations, trigeminal neuralgia, acoustic neuroma, and pituitary tumors. In Gamma Knife surgery, specialized equipment focuses close to 200 tiny beams of radiation on a tumor or other targeted cells. These beams deliver strong doses of radiation to targeted tumor cells with refined precision. This effectively means that surrounding healthy tissues are exposed to minimal or no radiation whatsoever.
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Market Drivers and Restraints
Global Gamma Knife market growth is majorly driven by rising ageing population, increasing incidence of cancer and increasing prevalence of neurological disorders. By disease indication, brain metastasis cases undergoing Gamma Knife treatment accounts for highest market share as compared to other indications. Painless and non-invasive elective surgeries with high success rate have recently become the treatment of choice. Leading Gamma Knife manufacturers are entering into tie-ups with premium healthcare organisations in developed and emerging economies for setting up Gamma Knife surgery centres and Gamma Knife installations.
However, lack of awareness about Gamma Knife treatment, negative perceptions of the radioactive elements and lack of trained professionals to operate these systems are expected to hamper market growth during the forecast period.
Market Segments
The global Gamma Knife market is segmented on the basis of indication, anatomy or organs treated and geography.
By indication type, the global Gamma Knife market is segmented into brain metastasis, cancer arteriovenous malformation (AVM), trigeminal neuralgia and others. Among these segments, brain metastasis accounted for approximately 68.5% share of the global Gamma Knife market in 2014 and is expected to dominate the market over the forecast period, exhibiting a CAGR of 9.2% between 2015 and 2025.
Cancer is the second-most prevalent indication, accounting for over 10.2% market share in 2014, and is expected to increase at a comparatively high CAGR of 10.3% during the forecast period.
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Trigeminal neuralgia accounted for approximately 9.8% share of the global Gamma Knife market in 2014 and is expected to further gain share at a comparatively high CAGR of 7% during the forecast period. Arteriovenous malformation and others contribute around 11.3% of the global Gamma Knife market revenue.
On the bases of anatomy, the global Gamma Knife market is segmented into head, neck and other body parts.
Head segment accounted for approximately 88.1% global market share in 2014 and is expected to dominate the global Gamma Knife market throughout the forecast period, exhibiting a CAGR of 9.2% between 2015 and 2025.
Neck segment accounted for over 7.8% share of the global market in 2014, which is expected to increase at a CAGR of 7.7%, during the forecast period. However, scope for Gamma Knife treatment for other body parts is expected to expand in future due to market expansion and innovations in techniques.
On the basis of region, North America dominated the global Gamma Knife market at 29% in terms of revenue in 2014. However, Europe, Asia Pacific, Latin America and MEA are projected to witness relatively high CAGRs of 7.7%, 10.5%, 11.1% and 11.7%, respectively over the forecast period.
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Competitive Landscape
Elekta AB, Varian Medical Systems, Inc., and Hokai are some of the leading players in the Gamma Knife market. Other major players in the Gamma Knife market include Huiheng Medical, Inc., Cyber Medical Corporation Limited, Masep Infini Global, Inc., Nordion, Inc., ET Medical Group, and American Shared Hospital Services
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