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Precision Cancer Treatment with Cyberknife Technology
According to The Business Research Company's, The cyberknife market size has grown rapidly in recent years. It will grow from $0.55 billion in 2023 to $0.64 billion in 2024 at a compound annual growth rate (CAGR) of 17.7%. The growth in the historic period can be attributed to rising cancer incidence, growing aging population, demand for precision medicine, patient preference for non-invasive procedures, advancements in radiotherapy.
The cyberknife market size is expected to see rapid growth in the next few years. It will grow to $1.16 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%. The growth in the forecast period can be attributed to increasing cancer burden worldwide, advancements in oncology research, expanding access to healthcare, rising awareness and education, integration with multidisciplinary approaches. Major trends in the forecast period include rise in proton therapy integration, shift towards outpatient and freestanding centers, patient-centric treatment planning, growing clinical evidence and research, telemedicine and remote treatment planning.
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Market Drivers and Trends:
The increasing incidence of cancer is expected to propel the growth of the cyberknife market going forward. Cancer is a severe disorder in which the body's cells reproduce fast and uncontrollably, resulting in abnormal growth. Cyberknife is approved for treating a variety of cancers and is a non-invasive, non-surgical, pain-free treatment option where radiation therapy is indicated. The ongoing research and development activities to improve the cyberKnife system and expand its applications to other medical conditions are also expected to contribute to the growth of the market. For instance, in January 2022, according to ABC News Internet Ventures, a US-based newspaper company, in the year 2022, the anticipated number of newly diagnosed cancer cases is around 2 million, which represents a significant increase compared to the 1 million new cases reported in 2021. Approximately 5,250 new cases of cancer is diagnosed every day in the United States, totalling 1,918,030 Americans receiving a cancer diagnosis. Therefore, the increasing incidence of cancer is driving the growth of the cyberknife market.
Major players operating in the cyberknife market is integrating their efforts towards developing innovative solutions such as treatment planning system. A treatment planning system (TPS) refers to a software platform used in the field of radiation therapy and medical imaging to plan and optimize the delivery of radiation treatment to patients. For instance, in June 2021, Accuray Incorporated, a US-based radiation therapy systems manufacturer company, announced the launch of the 'RayStation' treatment planning support. It is specifically designed to support the CyberKnife M6 and S7 robotic and radiotherapy systems. RayStation facilitates clinicians in generating treatment plans for the CyberKnife M6 and S7 Systems, as well as other conventional radiation therapy devices, all within a unified treatment planning system (TPS). This streamlines the integration of Accuray systems into the radiation oncology department, providing a cohesive and efficient planning solution.
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Major Key Players of the Market:
Accuracy Inc.; IBA Group; Mitsubishi Electric Corporation; Hitachi America Ltd.; Sumitomo Heavy Industries Ltd.; Nucletron B.V.; General Electric Company; Varian Medical Systems Inc.; RaySearch Laboratories AB; Brainlab AG; Nordion Inc.; Modus Medical Devices Inc.; Toshiba Medical Systems Corporation; ShenZhen Gene MDx Biotech Co. Ltd.; ViewRay Inc.; Mevion Medical Systems Inc.; Isoray Inc.; Optivus Proton Therapy Inc.; Masep Medical Company; Best Medical International Inc.; Huiheng Medical Inc.; Cyber Medical Corporation; Siemens AG; Sun Nuclear Corporation; Koninklijke Philips N.V.; CyberKnife Center of Miami; ALASKA CyberKnife Center; Elekta AB; RefleXion Medical Inc.; ZAP Surgical Systems Inc.; AccuBoost; Bionix Radiation Therapy LLC; C-RAD Co.; Xcision Medical Systems LLC
Cyberknife Market 2024 Key Insights:
• The cyberknife market size will grow to $1.16 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%.
• Surge In Incidence Of Cancer Is Anticipate To Flourish The Growth Of The Cyberknife Market
• Navigating The Future Of Radiation Therapy To Shape Cyberknife's Path With Treatment Planning Systems
• North America was the largest region in the cyberknife market in 2023
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