The global radiosurgery systems market was valued at $2,095.2 million in 2021, and is projected to reach $3,979.2 million by 2031, registering a CAGR of 6.7% from 2022 to 2031. An extremely accurate type of therapeutic radiology is radiosurgery, often known as stereotactic radiosurgery. Despite the name surgery, which implies actual surgery, radiosurgery is a single radiation therapy session that mimics the effects of a surgical procedure. Radiosurgery is a minimally invasive procedure that treats tumors and other issues in the brain, neck, lungs, liver, spine, and other areas of the body by using a large number of precisely focused radiation beams. Furthermore, stereotactic radiosurgery harms the DNA of the targeted cells, just like other radiation treatments do. Tumors then contract as the damaged cells lose their capacity to procreate.
Radiosurgery can be used to treat many conditions in the brain such as blood vessel disorders like arteriovenous malformation, trigeminal neuralgia, epilepsy and other. Mainly radiosurgery is used in primary brain tumor which includes pituitary tumor, meningioma, glioma, acoustic neuroma, hemangioblastoma, pediatric brain tumor, metastatic tumors and others. Moreover, radiosurgery is used to treat cancer disease.
The radiosurgery systems market is driven by rise in prevalence of cancer, technological advancement in development of radiosurgery systems, rise in the number of product launch and product approval for radiosurgery system. For instance, according to World Cancer Research Fund International, it was reported that 18,094,716 cancer cases were diagnosed over the globe. Moreover, according to World Health Organization, (WHO), in 2020, approximately 2.26 million new breast cancer cases were diagnosed worldwide. In addition, rise in the number of brain cancer, brain tumor and spinal cord tumor increases the demand of radiosurgery systems for treatment purpose. For instance, according to World Cancer Research Fund International, it was reported that 308,102 brain, central nervous system cancer cases were diagnosed over the globe.
The global radiosurgery systems market is predicted to develop as more patients battle brain tumors, which cause increase in the shift of consumer preference toward minimally invasive and non-invasive techniques. The use of minimally invasive radiosurgery is supported by a number of advantages, including quicker healing, lower morbidity and mortality, and shorter hospital stays.
Geriatric population is more susceptible to chronic diseases. Rise in number of geriatric populations increases the demand of radiosurgery systems for cancer treatment. Thus, this factor contributes to drive the growth of radiosurgery systems market. In addition, Governments globally have increased the expenditure on the healthcare sector. For instance, according to the Centers for Medicare & Medicaid Services, the U.S. health care spending grew by 9.7% from 2020 to 2019, reaching $4.1 trillion ($12,530 per person). Similarly, as per the Office for National Statistics, total healthcare expenditure in the UK accounted for 12.8% of the gross domestic product (GDP) in 2020, compared to 10.2% in 2019. Furthermore, it has been estimated that approximately 30% of the healthcare expenditure is used in upgrading the healthcare infrastructure, especially medical equipment used at public health centers (hospitals). Hence, this rise in healthcare expenditure across the globe is expected to fuel the demand for in radiosurgery systems application in different disease treatment, thereby boosting the market growth. On the other hand, high cost associated with radiosurgery systems and side effects of radiosurgery attributes to hinder market growth.
The radiosurgery systems market is segmented on the basis of type, condition, end user and region. On the basis of type the market is segmented into gamma knife system, linear accelerator systems and proton beam therapy. On the condition market is segmented into brain tumors and spine tumor. Brain tumor is further bifurcated into malignant and non-malignant. Malignant segment further sub-categorized into Meningioma, pituitary tumor and others. Non-malignant further sub categorized into Glioblastoma, Anaplastic astrocytoma and others. On the end user, market is bifurcated into hospitals and academic & research institute. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global radiosurgery systems market include Accuray Incorporated, Elekta AB, Atrium Health, Avocure, Brain LAB, Integra Life Sciences Holding Corp, Ion Beam Applications SA, Medtronic, Mevion Medical Systems, Inc., Nordion Inc., Reflexion Medical, Siemens (Varian Medical Systems), Summit Cancer Centers, ViewRay, Vision RT, Xcision Medical Systems, ZAP surgical System Inc.
Radiosurgery can be used to treat many conditions in the brain such as blood vessel disorders like arteriovenous malformation, trigeminal neuralgia, epilepsy and other. Mainly radiosurgery is used in primary brain tumor which includes pituitary tumor, meningioma, glioma, acoustic neuroma, hemangioblastoma, pediatric brain tumor, metastatic tumors and others. Moreover, radiosurgery is used to treat cancer disease.
The radiosurgery systems market is driven by rise in prevalence of cancer, technological advancement in development of radiosurgery systems, rise in the number of product launch and product approval for radiosurgery system. For instance, according to World Cancer Research Fund International, it was reported that 18,094,716 cancer cases were diagnosed over the globe. Moreover, according to World Health Organization, (WHO), in 2020, approximately 2.26 million new breast cancer cases were diagnosed worldwide. In addition, rise in the number of brain cancer, brain tumor and spinal cord tumor increases the demand of radiosurgery systems for treatment purpose. For instance, according to World Cancer Research Fund International, it was reported that 308,102 brain, central nervous system cancer cases were diagnosed over the globe.
The global radiosurgery systems market is predicted to develop as more patients battle brain tumors, which cause increase in the shift of consumer preference toward minimally invasive and non-invasive techniques. The use of minimally invasive radiosurgery is supported by a number of advantages, including quicker healing, lower morbidity and mortality, and shorter hospital stays.
Geriatric population is more susceptible to chronic diseases. Rise in number of geriatric populations increases the demand of radiosurgery systems for cancer treatment. Thus, this factor contributes to drive the growth of radiosurgery systems market. In addition, Governments globally have increased the expenditure on the healthcare sector. For instance, according to the Centers for Medicare & Medicaid Services, the U.S. health care spending grew by 9.7% from 2020 to 2019, reaching $4.1 trillion ($12,530 per person). Similarly, as per the Office for National Statistics, total healthcare expenditure in the UK accounted for 12.8% of the gross domestic product (GDP) in 2020, compared to 10.2% in 2019. Furthermore, it has been estimated that approximately 30% of the healthcare expenditure is used in upgrading the healthcare infrastructure, especially medical equipment used at public health centers (hospitals). Hence, this rise in healthcare expenditure across the globe is expected to fuel the demand for in radiosurgery systems application in different disease treatment, thereby boosting the market growth. On the other hand, high cost associated with radiosurgery systems and side effects of radiosurgery attributes to hinder market growth.
The radiosurgery systems market is segmented on the basis of type, condition, end user and region. On the basis of type the market is segmented into gamma knife system, linear accelerator systems and proton beam therapy. On the condition market is segmented into brain tumors and spine tumor. Brain tumor is further bifurcated into malignant and non-malignant. Malignant segment further sub-categorized into Meningioma, pituitary tumor and others. Non-malignant further sub categorized into Glioblastoma, Anaplastic astrocytoma and others. On the end user, market is bifurcated into hospitals and academic & research institute. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global radiosurgery systems market include Accuray Incorporated, Elekta AB, Atrium Health, Avocure, Brain LAB, Integra Life Sciences Holding Corp, Ion Beam Applications SA, Medtronic, Mevion Medical Systems, Inc., Nordion Inc., Reflexion Medical, Siemens (Varian Medical Systems), Summit Cancer Centers, ViewRay, Vision RT, Xcision Medical Systems, ZAP surgical System Inc.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the radiosurgery systems market analysis from 2021 to 2031 to identify the prevailing radiosurgery systems market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the radiosurgery systems market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global radiosurgery systems market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Linear accelerator systems
- Proton beam therapy
- Gamma Knife system
By Condition
- Brain Tumors
- Type
- Malignant
- Non malignant
- Spine Tumors
By End User
- Hospitals
- Academic and Research institute
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- ACCURAY INCORPORATED
- Elekta AB
- Atrium Health
- Avocure
- Brainlab
- Integra LifeSciences Holding Corp
- Ion Beam Applications SA
- Medtronic
- Mevion Medical Systems, Inc.
- Nordion Inc.
- RefleXion Medical
- Siemens (Varian Medical Systems)
- Summit Cancer Centers
- ViewRay
- vision rt ltd
- Xcision Medical Systems
- ZAP surgical System Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: RADIOSURGERY SYSTEMS MARKET, BY TYPE
CHAPTER 5: RADIOSURGERY SYSTEMS MARKET, BY CONDITION
CHAPTER 6: RADIOSURGERY SYSTEMS MARKET, BY END USER
CHAPTER 7: RADIOSURGERY SYSTEMS MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Radiosurgery Systems Market," the radiosurgery systems market size was valued at $2.10 billion in 2021, and is estimated to reach $3.98 billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031. Radiosurgery is a non-surgical procedure, it is also called stereotactic radiosurgery. It is a very precise form of therapeutic radiology. Although it is called surgery, radiosurgery does not involve actual surgery. Instead, highly focused beams of radiation (gamma rays, X-rays, or protons) are used to treat cancerous tissues without surgical incision or opening. It is commonly used for the treatment of various type of cancers and tumors. Radiosurgery works in the same way as other types of therapeutic radiology, it destroys the DNA of tumor cells, making them unable to reproduce and grow. The tumor will shrink over time. In blood vessel lesions, such as an arteriovenous malformation (AVM), the blood vessels eventually close after treatment.Factors that drive the growth of the radiosurgery systems market include rise in number of product launch and product approval in the field of radiosurgery. Moreover, increase in the adoption of key strategies such as collaboration, agreement, business expansion, acquisition by key players for development of radiosurgery systems market development fuels the market growth. For instance, in May 2022, Elekta, a leading innovator of precision radiation therapy solutions, announced launch of new radio surgery system known as Elekta Esprit, this is next generation Gamma Knife radiosurgery system. Moreover, in January 2019, Accuray Asia Limited, a subsidiary of Accuray Incorporated, medical equipment manufacturing company, and CNNC High Energy Equipment (Tianjin) Co., Ltd, a subsidiary of China Isotope and Radiation Corporation, announced business expansion for manufacture and sell radiation oncology systems in China.
In addition, rise in number of chronic diseases such as cancer causes increase in applications of radiosurgery systems in treatment. For instance, according to National Cancer Institute, in 2020, estimated number of new cancer cases in U.S. are 1,806,590 and estimated number of deaths are 606,520. Moreover, according to world cancer research and international, in 2020 approximately 2,261,419 new breast cancer and 2,206,771 lung cancer cases diagnosed across the globe. As per the same source breast and lung cancers were the most common cancers worldwide, contributing 12.5% and 12.2% of the total number of new cases diagnosed in 2020.
Moreover, rise in the awareness among people regarding availability of healthcare services and increase in the number of diagnostic centers anticipated to fuel the market growth. In addition, rise in number of medical professionals and increased disposable income among population contributes to drive the growth of radiosurgery market. Moreover, technological advancement in the healthcare sector and availability of different type radiosurgery systems such as gamma knife system, linear accelerator systems and proton beam therapy fuels the market growth. In addition, increase in number of hospitals, rise in the expenditure by government for development of healthcare sector and rise in the awareness about importance regular health checkup anticipated to boost the radiosurgery systems market growth.
On the basis of type, the market is classified into gamma knife system, linear accelerator systems and proton beam therapy. The gamma knife system segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to neurological disorders and brain tumor and rapid adoption of gamma knife radiosurgery as effective treatment option. On the basis of condition, it is classified into brain tumor and spine tumor. The brain tumor segment dominated the market in 2021, and is expected to continue the radiosurgery systems market trends during the forecast period, owing to rise in the prevalence of brain tumor and brain cancer, technological advancement in healthcare sector and increase in awareness among the people regarding importance of health.
On the basis of end user, the market is classified into hospitals & diagnostic centers, biotechnology & pharmaceutical companies, academic & research institutes. The hospitals segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to rise in the number of hospitals, increase in the expenditure by government to develop healthcare infrastructure and rise in the number of chronic diseases.
North America accounted for a majority of the global radiosurgery systems market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to increase in the number of research activities, technological advancement in the healthcare sector and rise in the prevalence of chronic diseases. Asia-Pacific is anticipated to witness lucrative growth, owing to owing rise in expenditure by government organization to develop healthcare sector, increase in prevalence of chronic diseases and rise in the number of radiosurgery industry who manufactures radiosurgery systems.
Key Findings of the Study
- By type, the gamma knife system segment was the highest contributor to the market in 2021.
- By condition, the brain tumor segment was the highest contributor to the market in 2021.
- By end user, the hospitals segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
- By region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- Accuray Incorporated
- Elekta Ab
- Atrium Health
- Avocure
- Brainlab
- Integra Lifesciences Holding Corp
- Ion Beam Applications Sa
- Medtronic
- Mevion Medical Systems, Inc.
- Nordion Inc.
- Reflexion Medical
- Siemens (Varian Medical Systems)
- Summit Cancer Centers
- Viewray
- Vision Rt Ltd
- Xcision Medical Systems
- Zap Surgical System Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 315 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 2095.2 million |
| Forecasted Market Value ( USD | $ 3979.2 million |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 17 |
