AI-powered algorithms to drive the Gamma Knife Market at a CAGR of 3.7%

Surgical procedures are witnessing an influx of new-fangled technology, so as to help the surgeons in eliminating challenges pertaining to conventional or laparoscopic applications. There are surgical robots being increasingly deployed to reduce the error on human grounds. In other words, advancements in surgical instruments have opened the doors for a novel era with respect to surgical research. To put it simple, visual technology would be used sophistically in surgeries in the near future. This would be the overall outlook of the surgery market in the upcoming period.

According to a new market report published by Persistence Market Research "Global Market Study on Gamma Knife: Asia to Witness Highest Growth by 2022," the global Gamma Knife market is valued at USD 526,733.2 thousand in 2014 and is expected to grow at a CAGR of 3.6% from 2014 to 2022 to reach an estimated value of USD 651,241.9 thousand in 2022.

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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.

Globally, the Gamma Knife market is witnessing significant growth due to increasing prevalence of cancer and obesity and growing aging population. In addition, rising number of initiatives undertaken by various government associations and the advanced features of Gamma Knife systems are also driving the growth of the market.

However, stringent regulatory requirements and prolonged approval time for Gamma Knife systems and a high cost of implementation and shortage of skilled manpower inhibit the growth of the market.

Some of the major players in the Gamma Knife market:

Elekta AB.
Varian Medical Systems, Inc.
Huiheng Medical, Inc.
Cyber Medical Corporation Limited.
Masep Infini Global, Inc.
Nordion, Inc.
Hokkaido.
ET Medical Group.
American Shared Hospital Services.

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In North America, the Gamma Knife market is growing due to the rising incidence of cancer in the region. In addition, increased awareness about Gamma Knife technology for cancer treatment is also boosting the growth of the market in the region. According to WHO, approximately 2.8 million people had cancer, including brain cancer, in the U.S. in 2000. Moreover, according to the Hindawi Publishing Corporation, an international journal of surgical oncology, approximately 98,000 to 170,000 new brain metastases cases occur every year in North America

In Europe, increasing prevalence of cancer is boosting the growth of the Gamma Knife market in the region. According to WHO, Europe accounts for only one-eighth of the world's population. However, the region records around a quarter of global cancer cases. Several government associations, such as the Women Against Lung Cancer in Europe (WALCE) and European Head and Neck society (EHNS), are trying to increase awareness about breast cancer, lung cancer, and head and neck cancer and their brain metastases effects in Europe.

However, Asia represents the fastest growing region in the Gamma Knife market due to the rise in cancer patients in various countries such as India, China, and Japan. According to WHO, the occurrence of cancer in India and China is set to climb at a rate of 78% from 2013 to 2030. In addition, growing aging population is also supporting the growth of the Gamma Knife market in the region.

In Latin America, construction of manufacturing and research facilities by many companies is driving the Gamma Knife market in Latin America. Furthermore, the governments of Latin American countries have recognized the growing epidemic of cancer and are actively devising several patient awareness programs to raise awareness of signs and symptoms of cancer, including brain cancers.

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The global Gamma Knife market is segmented as follows:

Gamma Knife market, by application

Brain Metastases
Brain Tumors
Trigeminal Neuralgia
Arteriovenous Malformations
Others


Key Questions Answered in This Report.

What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?

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This release was published on openPR.