The Gamma Knife Market to grace digital transformation curve at a CAGR of 3.7%

Gamma Knife radiosurgery is a major form of radiation therapy used to treat brain metastases. The global brain metastases reached USD 360,610.2 thousand in 2014 and USD 448,903.1 thousand in 2020, growing at a CAGR of 3.7% owing to considerable rise in global Gamma Knife market by USD 526,733.2 thousand in 2014 to USD 651,241.9 thousand by 2020 at a CAGR of 3.6%.

The global Gamma Knife market is expected to grow at a significant rate in the coming years, due to the increasing prevalence of brain disorders and the growing adoption of advanced medical technologies. In addition, the rising awareness of the benefits of Gamma Knife treatment, as well as the availability of government funding and insurance coverage for these procedures, are expected to drive market growth.

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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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