Gamma Knife Market to Surpass US$ 300 Million by 2025, Buoyed by Increase in Patient

The Global Gamma Knife Market was valued at US$ 174.4 million in 2016 and is projected to expand at a CAGR of 7.7% during the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Increase in patient awareness about the disease and gamma knife technology would increase the patient flow at the gamma knife centers thus stimulating more installations worldwide.

Currently, there are more than 300 gamma knife centers globally. Africa, Middle East and Latin America regions are identified with a few lesser gamma knife centers compared to North America, Europe and Asia. Seven centers in the U.S. had ordered the new gamma knife Icon system in 2015 representing the preference for this platform in treating cranial indications. Samsung Medical Center (SMS) in Seoul—one of the busiest gamma knife radiosurgery centers in Asia after China—was the first center in Asia to acquire Leksell Gamma Knife Icon system in 2015. The Icon system offers frameless treatment with similar accuracy as that of frame-based treatment. Moreover, this new addition to the Leksell Gamma Knife system has an integrated image guidance system and an Online Adaptive Dose Control option to ensure that the dose reaches the target location.

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Adoption of gamma knife technology is on rise and has gained traction in recent years. Though the technology was introduced decades ago, the exorbitantly high costs associated with them dissuaded its large scale adoption across the healthcare sector. Average cost of gamma knife system is over US $5 million. This was a major reason for the gamma knife market to be deprived of potential demand. On contrary, over 2,500 research studies are available for gamma knife technology which can be a major convincing factor for adoption of gamma knife technology.

Gamma knife can however be cost competitive only when demand for intracranial stereotactic radiosurgery (SRS) is high enough to allow maximum utilization of gamma knife system. Low patient flow makes the system capital intensive for the organization. To improve the gamma knife market condition it is essential to create awareness about the disease and availability of this precision therapy.

The U.S. federal government reduced Medicare reimbursement for gamma knife treatment from US $8,100 to US $3,400 in 2013. This further reduces the accessibility of a highly precise brain tumor treatment method to the general population in the U.S. Although an alternative technology, Cyber Knife, is available, many physician prefer using gamma knife over linac-based surgery based on their comfort and skills. Therefore, the gamma knife market is expected to experience a gradual growth.

To know the latest trends and insights prevalent in the gamma knife market, click the link below: www.coherentmarketinsights.com/market-insight/gamma-knife-market ..

Key takeaways of the market:

Elekta is the dominant player in the global gamma knife market

North America leads the global gamma knife market in terms of revenue, however with growing investments and awareness, Asia Pacific region is expected to grow at a rapid rate during the forecast period

Brain metastasis is the major therapeutic application gamma knife system is being used globally

Use of gamma knife in movement disorders is increasing as more and more patients and physicians are getting aware about the applications of this technology

Tumors in head (brain) is the major site of therapy where gamma knife system is being used. Market for this test type is therefore estimated to be higher compared to neck and other sites.

The global gamma knife market is facing competition from its alternative Cyber Knife system which can also be used in treating tumors in other parts of the body

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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This release was published on openPR.