Veterinary Stereotactic Radiosurgery System Global Market Report 2024

A veterinary stereotactic radiosurgery system is a form of external radiation therapy that precisely positions the patient while delivering a single, high dosage of radiation to a tumor.

The primary types of veterinary stereotactic radiosurgery systems encompass microsurgical instrumentation, optical or viewing instruments, and other related products. Microsurgical instrumentation refers to hand-held surgical tools designed specifically for microsurgical and delicate procedures, facilitating the handling of fragile tissues, tendons, and blood vessels. Various modalities involved in these systems include gamma knife, linear accelerator, particle beam radiation therapy, and cyber knife, which are utilized for applications in canine, feline, and other veterinary scenarios. Different end users for these systems include hospitals, contract research organizations (CROs), and other relevant entities.

The veterinary stereotactic radiosurgery system market research report is one of a series of new reports that provides veterinary stereotactic radiosurgery system market statistics, including veterinary stereotactic radiosurgery system industry global market size, regional shares, competitors with veterinary stereotactic radiosurgery system market share, detailed veterinary stereotactic radiosurgery system market segments, market trends, and opportunities, and any further data you may need to thrive in the veterinary stereotactic radiosurgery system industry. This veterinary stereotactic radiosurgery system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The veterinary stereotactic radiosurgery system market size has grown rapidly in recent years. It will grow from $2.61 billion in 2023 to $2.95 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The expansion observed in the historical period can be attributed to several factors, including the increasing trend of pet ownership, investments in veterinary healthcare, regulatory support, and the growth of pet insurance.

The veterinary stereotactic radiosurgery system market size is expected to see rapid growth in the next few years. It will grow to $4.74 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The anticipated growth in the forecast period can be attributed to several factors, including the expanding geriatric pet population, increasing awareness and education about veterinary care, and the globalization of veterinary services. Noteworthy trends expected in the forecast period encompass the integration of artificial intelligence (AI) and robotics, continuous technological innovation, an increased focus on personalized medicine for veterinary care, the integration of telemedicine, collaborations and partnerships within the industry, a growing popularity of cyberknife and linear accelerator (linac) systems, and an increased focus on minimally invasive procedures in veterinary stereotactic radiosurgery systems.

The growth of the veterinary stereotactic radiosurgery system market is anticipated to be driven by the increasing pet population. Pets, referring to animals kept in homes for enjoyment and companionship, can benefit from the veterinary stereotactic radiosurgery system, which aids in treating tumors in pets with diverse head sizes and shapes. According to the People's Dispensary Sick Animals wellness (PAW) Report, the UK's largest annual examination of pet wellness, 53% of UK adults are projected to own a pet in 2023, showcasing an increase from 51% in February 2020. Among them, 29% own a dog, 24% own a cat, and 2% own a rabbit. The veterinary practitioners report a 67% increase in the pet population over the last two years, with 71% attributing it to more pets in their clinics and 54% to an increase in new pets in their communities. Therefore, the surge in the pet population is a significant driver of the veterinary stereotactic radiosurgery system market.

The growth of the veterinary stereotactic radiosurgery system market is also expected to be fueled by an increase in pet health awareness. Pet health awareness, which refers to the level of information and knowledge pet owners possess about their pets' health needs and the importance of preventive treatment, leads to a preference for advanced treatment options like stereotactic radiosurgery. In 2021, the U. S. Department of Agriculture’s (USDA) Animal and Plant Health Inspection Service (APHIS) announced funding over $16.3 million for 64 projects with various partners to enhance programs aimed at protecting animal health. This reflects a growing recognition of the value of preventive healthcare for pets. Thus, the heightened awareness of pet health is a significant factor driving the veterinary stereotactic radiosurgery system market.

Technological advancements represent a prominent trend in the veterinary stereotactic radiosurgery system market. Key players are actively developing advanced technologies to maintain their position in the market. For example, Accuray Incorporated, a U. S. -based manufacturer of radiotherapy systems, introduced the CyberKnife S7 system, the latest iteration of its CyberKnife radiation therapy platform. Leveraging robotic radiation therapy, the S7 system administers stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT) treatments within a 15-minute timeframe. It addresses neurological diseases, benign, and malignant cancers across the body. The system utilizes Accuray's Synchrony motion-synchronization technology to tailor radiation administration in real-time based on patient and/or tumor movement. The unique robotic architecture allows radiation delivery from numerous angles.

In October 2022, Aspen Surgical Products Inc., a U. S. -based full-service veterinary hospital, acquired Symmetry Surgical, enhancing its portfolio and commercial capabilities. Symmetry Surgical, a U. S. -based provider of surgical instrumentation and solutions, adds clinically favored products to Aspen's portfolio, enabling diversification into more desirable adjacent categories.

In April 2021, Siemens Healthineers, a Germany-based healthcare company, acquired Varian Medical Systems, a UK-based healthcare company providing stereotactic radiosurgery systems for veterinary use. This acquisition strengthens Siemens Healthineers' position as a reliable partner in the healthcare sector and expands its influence across the full cancer care continuum.

Major companies operating in the in the veterinary stereotactic radiosurgery system market report are PetCure Oncology, Elekta AB, Accuray Incorporated, Varian Medical Systems Inc., C. R. Bard Inc., Nanovi Radiotherapy A/S, Ion Beam Applications SA, ZAP Surgical Systems Inc., Brainlab AG, Best Medical International Inc., Mevion Medical Systems Inc., Hitachi Ltd., Mitsubishi Electric Corporation, Sumitomo Heavy Industries Ltd., Shinva Medical Instrument Co. Ltd., Huiheng Medical Inc., Beijing Wandong Medical Equipment Co. Ltd., Guangzhou Yueshen Medical Equipment Co. Ltd., Jiangsu Keling Medical Appliances Co. Ltd., Shenzhen Xinglidong Medical Equipment Co. Ltd., Shandong Xinhua Medical Instrument Co. Ltd., Neusoft Medical Systems Co. Ltd., Xinjiang Xinxing Medical Equipment Co. Ltd., Beijing Neusoft Medical Systems Co. Ltd., Siemens Healthineers AG, Philips Healthcare Company, GE Healthcare Technologies Inc., Toshiba Medical Systems Corporation, Hitachi Aloka Medical Ltd., Vision RT Limited

North America was the largest region in the veterinary stereotactic radiosurgery system market in 2023. The regions covered in the veterinary stereotactic radiosurgery system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the veterinary stereotactic radiosurgery system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

A veterinary stereotactic radiosurgery system market includes revenues earned by entities by veterinary stereotactic radiosurgery system that are used in the treatment of cancers and other issues that affect the brain, neck, lungs, liver, spine, and other areas of the body of pets and animals. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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