Stereotactic Surgery Devices Global Market Report 2024

The stereotactic surgery devices market has grown steadily in recent years. It will grow from $21.43 billion in 2023 to $22.41 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The historical period's growth can be credited to the transition towards minimally invasive procedures, the incorporation of robotics and automation, a heightened need for precision and accuracy, and advancements in safety profiles.

The stereotactic surgery devices market is expected to see steady growth in the next few years. It will grow to $27.21 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The anticipated growth in the forecast period can be ascribed to an increase in cancer cases, the integration of AI and machine learning, expansion into new medical specialties, a growing geriatric population, and the trend towards customization and personalization in treatments. Key trends expected in the forecast period encompass enhancements in precision and accuracy, the miniaturization of devices, the implementation of robotics and automation, personalized treatment approaches, and the broadening of applications and procedures.

The anticipated growth in the stereotactic surgical device market is expected to be propelled by the increasing prevalence of Parkinson's disease and epilepsy. Parkinson's disease, a neurodegenerative condition characterized by involuntary shaking, slow movement, and rigid muscles, and epilepsy, a neurological disorder leading to recurring, unprovoked seizures, contribute to the rising demand for stereotactic surgical devices. These devices find applications in treating movement disorders, epilepsy, pain, psychiatry, and Parkinson's disease. For instance, a study from the Parkinson’s Foundation, a New York-based nonprofit organization, reported that in the United States, the annual diagnosis of Parkinson's disease is expected to surpass 90,000 in 2022, marking a 50% increase from the previously projected rate of 60,000 diagnoses per year. With nearly a million people affected by Parkinson's disease in the United States, the number is projected to reach 1.2 million by 2030. Hence, the growing cases of Parkinson's disease and epilepsy are significant drivers for the stereotactic surgical device market.

The expanding geriatric population is poised to contribute to the growth of the stereotactic surgical device market. The geriatric population, comprising individuals aged 65 and older, is a key demographic benefiting from the precise and minimally invasive treatment options provided by stereotactic surgical devices. According to the World Health Organization (WHO), by October 2022, one in six individuals globally will be 60 years or older, reaching 1.4 billion people compared to 1 billion in 2020. The number is expected to double to 2.1 billion by 2050. This demographic shift underscores the importance of stereotactic surgical devices in addressing the distinct health challenges faced by the elderly. In summary, the growing geriatric population is a significant factor driving the stereotactic surgical device market.

Technological advancements have become a prominent trend in the stereotactic surgical device market, with major companies in the industry focusing on developing innovative technologies to enhance their market position. For example, in May 2023, Brainlab, a medical technology company based in Germany, introduced a new product named ExacTrac Dynamic Surface. This innovation constitutes a surface-guided radiation therapy (SGRT) patient tracking and positioning system. The system integrates high-speed thermal surface tracking technology with an updated ExacTrac X-ray monitoring feature, providing increased versatility and accuracy in patient positioning and monitoring for various treatments, including cranial and spine stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT). The system utilizes a structured blue light pattern on the patient's surface, captured by two 3D cameras, with each surface point augmented by a thermal signature registered by a third in-unit camera.

Major companies in the stereotactic surgical device market are actively developing advanced technologies such as radiosurgery systems to reinforce their market presence. In May 2022, Elekta Medical Systems, an India-based healthcare device manufacturer, launched a state-of-the-art stereotactic radiosurgery system called Elekta Esprit. This advanced system aims to provide physicians with faster automated treatment planning, more personalized and patient-friendly treatments, and a level of precision capable of ensuring both mental and physical well-being. Ongoing design improvements ensure optimal treatment planning and execution with adaptable workflow options. The next-generation gamma knife enables more personalized radiosurgery with sub-millimeter accuracy and facilitates treatment planning in less than 60 seconds.

In April 2021, Siemens Healthineers AG, a German medical device company, completed the acquisition of Varian Medical Systems, Inc. for an undisclosed amount. This strategic move allows both Varian and Siemens Healthineers to address the growing demand for individualized, data-driven diagnostics, and precision cancer care, positioning them to combat the increasing global incidence of cancer. Varian Medical Systems, Inc., based in the United States, specializes in the manufacturing of radiation oncology treatments and software.

Major companies operating in the stereotactic surgery devices market report are Alliance Oncology, Micromar Industria Commercio Ltda., Adeor Medical AG, Monteris Medical Holding AG, Inomed Medizintechnik GmbH, Ion Beam Applications S.A. (IBA), Elekta AB (publ), Varian Medical Systems Inc., Accuracy Incorporated, Modus Medical Devices Inc., Koninklijke Philips N.V., Huiheng Group Co. Ltd., Mitsubishi Heavy Industries Ltd., GE Healthcare, Siemens AG, Medtronic plc, Brainlab AG, Renishaw plc, Neuropace Inc., Microvention Inc., MR Solutions Ltd., RaySearch Laboratories AB, Alpha Omega Engineering Inc., FHC Inc., Nexstim Plc, Scopis GmbH, IZI Medical Products LLC, Integra LifeSciences Holdings Corporation, Computerized Imaging Reference Systems Inc., MRI Interventions Inc., ZAP Surgical Systems Inc., Schaerer Medical USA Inc.

North America was the largest region in the stereotactic surgery devices market in 2023. The regions covered in the stereotactic surgery devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the stereotactic surgery devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

This report offers statistical insights into the stereotactic surgical devices market, encompassing global market size, regional distribution, competitors and their market shares, detailed market segments within the stereotactic surgical devices industry, prevalent market trends, opportunities, and any additional data essential for success in the stereotactic surgical devices sector. Providing a thorough perspective, the research report conducts an in-depth analysis of both current and future scenarios within the industry.

The stereotactic surgical devices market research report provides stereotactic surgical devices market statistics, including stereotactic surgical devices industry global market size, regional shares, competitors with a stereotactic surgical devices market share, detailed kids furniture market segments, market trends, and opportunities, and any further data you may need to thrive in the stereotactic surgical devices industry. The stereotactic surgical devices 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 stereotactic surgical device market consists of sales of intracranial drilling, intracranial injections, and brain cannulation. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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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