ID: MRFR/MED/5327-HCR | February 2021 | Region: Global | 90 pages
stereotactic surgery devices market is expected to grow significantly over the forecast period. It is anticipated that the market held a market value of USD 16.59 billion in 2017 and is projected to grow at a CAGR of 5.2% over the forecast period. Stereotactic surgery is used to treat and diagnose several neurological diseases. In stereotactic brain surgery for brain tumour, tumour is removed with assistance of image guidance, that is previously obtained images are used to guide the surgeon to the exact location of the lesion in the brain. The factors such as increasing preference for minimally invasive surgeries and growing prevalence of brain-related diseases such as Parkinson’s disease is expected to propel the growth of the market over the forecast period. According to the Parkinson’s Foundation, approximately 60,000 Americans are diagnosed with Parkinson’s disease each year. According to the same source, it is anticipated that about 930,000 people in the US will be having Parkinson’s disease by 2020. However, the high installation cost and low treatment charges delays the recovery of the invested amount which thereby limits the adoption of the technology. This factor is expected to restrain the market growth during the forecast period.
Stereotactic Surgery Devices MarketKey players:
Koninklijke Philips N.V., Huiheng Medical, Inc., Mitsubishi Heavy Industries, Ltd., GE Healthcare, Varian Medical Systems, Hitachi Medical Systems, Accuray, Inc., Ferring B. V., Elekta AB, and Shinva Medical Instrument Co., Ltd are some of the key players in the market.
Stereotactic Surgery Devices Market Segmentation:
The global stereotactic surgery devices market has been segmented into product type and application.
The global market, on the basis of product type, has been segmented into gamma knife, Linear accelerators (LINAC), proton beam therapy, and cyberknife. By product type, linear accelerators (LINAC) segment is expected to hold largest market share owing to the growing adoption rate and installations. Additionally, cyberknife is expected to be the fastest growing segment over the assessment period owing to its growing popularity in the developing economies.
On the basis of application, the market has been segmented into brain tumour, arteriovenous malformations, Parkinson’s disease, epilepsy, and others.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The stereotactic surgery devices market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European stereotactic surgery devices market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The stereotactic surgery devices market in the Middle East & Africa has been segmented into the Middle East and Africa.
Stereotactic Surgery Devices Market Regional Summary
Geographically, the Americas is anticipated to dominate the global stereotactic surgery devices market owing to the growing prevalence of neurological diseases, presence of developed healthcare infrastructure, and high disposable income. According to the National Organization for rare Diseases, approximately 10,000-15,000 new cases of trigeminal neuralgia occur each year in the US.
Europe is expected to hold the second largest position in the global stereotactic surgery devices market. The market growth in this region is attributed to the increasing occurrences of brain diseases and presence of developed healthcare sector.
The stereotactic surgery devices market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. The Asia-Pacific region is expected to be fastest growing region owing to the growing prevalence of brain-related diseases and continuously growing healthcare sector.
The Middle East & Africa has the least share of the market. Majority of the market of this region is expected to be held by the Middle East region due to a well-developed healthcare sector and growing government initiatives for the healthcare sector.
Global Stereotactic Surgery Devices Market Share (%), by Region, 2017
Source: White Papers, Company Presentations, Annual Reports
Market Segmentation Synopsis:
Global Stereotactic Surgery Devices Market, by Product Type
Global Stereotactic Surgery Devices Market, by Application
Global Stereotactic Surgery Devices Market, by Region
Frequently Asked Questions (FAQ) :
Current valuation of the Stereotactic Surgery Devices Market is USD 16.59 billion as of 2017.
Stereotactic Surgery Devices Market would grow with a 5.2% CAGR over the forecast period encompassing 2018 to 2023.
Stereotactic Surgery Devices Market may face a slumbering effect from factors like high installation cost and low treatment charges, which could delay the investment return.
linear accelerators (LINAC) has the maximum Stereotactic Surgery Devices Market share.
Cyberknife segment is expected to be the fastest-growing segment of the Stereotactic Surgery Devices Market.