Gamma Knife Market Exhibiting a CAGR of 5.90% Between 2021 and 2031
Future Market Insights (FMI) provides vital insights on the key regions in the global Gamma Knife market in its latest report, “Gamma Knife Market: Global Industry Analysis and Opportunity Assessment 2015-2025”.
According to the report, Asia Pacific Excluding Japan (APEJ) will emerge as the most lucrative region for the global Gamma Knife market by the end of 2025.
FMI, in its research report, has covered the Gamma Knife market in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The North America Gamma Knife market, valued at US$ 46.3 Mn in 2014 will expand at a CAGR of 7.5% through 2025, reaching a valuation of over US$ 100 Mn by 2025.
Rise in geriatric population and preference for less time-consuming treatment are the key factors fuelling the Gamma Knife market in North America.
Increase in the prevalence of cancer, coupled with shift towards painless and non-invasive surgeries are other key drivers of the market.
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Rise in per capita healthcare expenditure is also fuelling the Gamma Knife market in North America. For example, 17.7% of America’s GDP was spent on healthcare in 2011.
Increase in funding for R&D on non-invasive treatment is also providing an impetus to the Gamma Knife market in North America.
According to Cancer.org, in the US, nearly 1,658,370 new cancer cases are expected to be diagnosed in 2015. Owing to these new diagnoses, the demand for non-invasive treatment options is expected to witness a surge.
In terms of compound annual growth rate (CAGR) and market value, FMI expects Asia Pacific Excluding Japan (APEJ) to emerge as the most lucrative market by the end of forecast period.
Currently valued at US$ 43.9 Mn, the Asia Pacific Excluding Japan (APEJ) Gamma Knife market is projected to expand at over 10% CAGR through 2025, reaching a valuation of US$ 131.5 Mn. APEJ is expected to account for nearly 30% of the market value share of the global Gamma Knife market by 2025.
The same factors that are driving the North America Gamma Knife market are fuelling the market in APEJ as well.
However, the funding for research and development is expected to be comparatively lower than that in North America.
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FMI’s research on the Gamma Knife market revealed that approximately 950 employees at Elekta are involved in research and development activities.
The company aims to exploit market opportunities and focus on radiotherapy market.
The company’s capacity to drive the business further from the existing installed base becomes critical as it is subject to stringent market expectations.
North America is the most lucrative market for Varian Medical System, with the region accounting for nearly 46% of the total revenues.
The company has a strong presence globally in terms of brand recognition and technology.
A key opportunity for Varian Medical System is to expand in invasive surgery equipment by leveraging established brands.
However, lack in safety measures for patients and staff from high radiations.
The company is focusing on R&D activities for high-quality and software which require trained professional for usage and safety.
These activities involve increasing interconnectivity of products for a seamless operation.
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Gamma Knife Market – Key Segment
By Disease Indication:
- Brain Metastasis
- Arteriovenous Malformation (AVM)
- Trigeminal Neuralgia
- Other Body Parts
- North America
- Latin America
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
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