The global Gamma Knife Market is expected to grow at a CAGR of 5.7% during the period 2023-2033. The market holds a valuation of US$ 343.1 million as of 2023, and by 2033, the market is expected to reach a valuation of US$ 600 million.
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.
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.
The leading companies operating in the Gamma Knife market are Elekta, Varian Medical Systems, and Huiheng Medical.
Gamma Knife tools account for nearly 40% of total revenues of Elekta. The company has a strong presence in North America and Europe. The company has strategic partnerships with prominent institutes, such as Swedish Cancer Institute and Ottawa Hospital.
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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It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.Global Silage Additives Market ReportThe research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the gamma knife market include American Radiosurgery Inc., Elekta AB, and Masep Medical Science & Technology Development Co., Ltd.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Gamma Knife Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/gamma-knife-market/download-sampleMarket DynamicsThe increasing prevalence of cancer and obesity and the growing aging population are the major factors driving the gamma knife market.
The growing awareness about the technology involved in the surgery and attractive advantages offered by the same over open surgeries leads to high market demand.
The rise in the number of initiatives taken by several government associations and the advanced features of gamma Knife systems are positively impacting the gamma knife market's growth.
Moreover, the improving healthcare technology and rising healthcare expenditure, especially in developing countries, are likely to offer lucrative growth opportunities for key players of the gamma knife market in the coming years.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
