Gamma Knife Market 2021 Overview, Size Estimation, Share, Growth Analysis, Competitive Landscape till 2028 | Deltex Medical Group Plc., Cheetah Medical Inc.

Market Overview:

Gamma knife is an advanced radiation therapy (radiotherapy) used to treat cancer in adults and children. Gamma knife uses highly focused gamma rays to cut or destroy the tumor or damaged cells, causing little or no damage to the normal cells. This technology is widely used to treat epilepsy, trigeminal neuralgia, brain tumors, abnormal blood vessel formations (arteriovenous malformations), nerve disorders that causes chronic pain, and other neurological conditions.

Gamma knife can also treat some brain disorders, such as Parkinson’s disease. It is a minimally invasive procedure and requires less hospitalization and recovery time than neurosurgery. It is a painless computer-guided treatment that delivers highly focused radiation to tumors/lesions in the brain. Thus, there is an increasing demand for gamma knife worldwide.

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Competitive Landscape:

Major players operating in the global gamma knife market are American Radiosurgery Inc., Elekta AB, and Masep Medical Science & Technology Development Co., Ltd.

Key Market Drivers:

Increasing prevalence of cancer across the globe is expected to propel growth of the gamma knife market over the forecast period. Gamma knife kill cancer cells, causing little/no damage to healthy cells. According to the World Health Organization (WHO), cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020.

Moreover, increasing demand for gamma knife due to increasing prevalence of neurovascular and movement diseases worldwide is expected to augment the growth of the gamma knife market. For instance, in May 2020, Elekta announced the launch of the Leksell Gamma Knife Lightning, a cutting-edge solution for intracranial stereotactic radiosurgery. Leksell Gamma Knife Lightning advances personalized precision radiation medicine while reducing treatment planning time by up to 80% and beam-on time by up to 50%.

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COVID-19 Impact Analysis:

The impact of COVID-19 on the healthcare market is enormous and severely disrupts the entire supply chain of the healthcare industry, from raw materials to manufacturing and distribution. Supply chain and manufacturing activities in the U.S., U.K., Spain, Italy, and India have been disrupted due to the global lockdowns. People with cancer have struggled to receive treatment due the pandemic. Moreover, people remain wary of going out with COVID-19 cases still on the rise in many parts of the world, as well as the fear of a second/third wave of COVID-19. This in turn is expected to hamper the growth of the market.

Key Takeaways:

The gamma knife market is expected to exhibit a CAGR of XX % during the forecast period owing to increase in the incidence rate of brain and nervous system tumors. For instance, according to the American Brain Tumor Association, more than 700,000 people in the U.S. are living with a brain tumor, and more than 84,000 people will be diagnosed with a primary brain tumor in 2021.

Among regions, Asia Pacific is expected to witness significant growth in the gamma knife market due to increasing demand for gamma knife and increase in product launches and approvals in this region. For instance, in August 2020, Elekta announced that the high-field 1.5T MR radiation therapy system, Elekta Unity, has received clearance from the National Medical Products Administration (NMPA) for clinical use in China.

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This release was published on openPR.