USD 21.8 billion
Stereotactic Surgery Devices Market Size, Share, Growth Analysis, By Equipment Type (Gama Knife, Linear Accelerator (LINAC)), By Application (Brain Tumor, Epilepsy), By End User (Hospitals & Ambulatory Surgical Centers, Specialty Clinics & Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2695 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
62
|Figures:
75
Stereotactic Surgery Devices Market Insights
Global Stereotactic Surgery Devices Market size was valued at USD 21.8 billion in 2022 and is poised to grow from USD 23.04 billion in 2023 to USD 35.9 billion by 2031, growing at a CAGR of 5.7% during the forecast period (2024-2031).
The global Stereotactic Surgery Devices Market has experienced remarkable growth and technological advancements in recent years, revolutionizing the way neurological disorders and conditions are treated worldwide. The increasing prevalence of neurological disorders, such as Parkinson's disease, epilepsy, brain tumors, and movement disorders, has been a significant driving factor behind the market's expansion. Additionally, the growing aging population, coupled with rising awareness about the benefits of minimally invasive procedures, has contributed to the surge in demand for stereotactic surgery devices. Advancements in technology have further fueled the market growth, leading to the development of cutting-edge devices that offer improved accuracy, enhanced visualization, and greater patient safety. These devices include frame-based stereotactic systems, frameless stereotactic systems, and image-guided surgical navigation systems. Moreover, the integration of robotics and real-time imaging technologies has provided neurosurgeons with better tools to precisely plan and execute complex procedures with increased confidence. Furthermore, the rising trend of medical tourism in emerging economies, along with the increasing number of specialized neurosurgery centers and hospitals, has opened up new opportunities for market players to expand their reach and establish a global presence. Despite the promising growth prospects, the global market faces some challenges. These include stringent regulatory requirements for product approval, which can impede market entry for new players. Additionally, the high cost of advanced stereotactic devices and the associated surgical procedures may limit their accessibility, especially in low-income regions. In conclusion, the global Stereotactic Surgery Devices Market is witnessing substantial growth due to the increasing prevalence of neurological disorders, technological advancements, and a growing focus on minimally invasive procedures. With ongoing research and development efforts, coupled with the rising demand for improved healthcare solutions, the market is expected to continue its upward trajectory, benefiting patients and healthcare providers alike by offering safer and more effective treatment options for complex neurological conditions.
US Stereotactic Surgery Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Gamma Knife
Fastest Growth
Gamma Knife
Growth Rate
5.7% CAGR
Global Stereotactic surgery devices Market ($ Bn)
Country Share for North America Region (%)
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Stereotactic Surgery Devices Market Segmental Analysis
Global Stereotactic Surgery Devices Market is segmented by Equipment Type, Application, End Use, and region. Based on Equipment Type, the market is segmented into Gama Knife, Linear Accelerator (LINAC), Proton Beam. Based on Application, the market is segmented into Brain Tumor, Epilepsy, Trigeminal Neuralgia, Arteriovenous Malformations, Others. Based on End Use, the market is segmented into Hospitals & Ambulatory Surgical Centers, Specialty Clinics & Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Stereotactic Surgery Devices Market Analysis By Product
The global Stereotactic Surgery Devices Market can be segmented based on product types, including cyber knife and gamma knife. Gamma Knife is currently the dominating segment in the global Stereotactic Surgery Devices Market. Gamma Knife is a non-invasive radiosurgery system that uses gamma rays to precisely target and treat brain lesions and tumors. Its ability to deliver highly focused radiation to specific areas of the brain, with minimal impact on surrounding healthy tissue, has contributed to its widespread adoption.
The Cyber Knife segment is emerging as the fastest-growing segment in the global Stereotactic Surgery Devices Market. Cyber Knife is a robotic radiosurgery system that utilizes a combination of robotics and real-time image guidance to precisely deliver radiation therapy to tumors and lesions in various parts of the body. The rapid growth of the Cyber Knife segment can be attributed to several key factors. Firstly, Cyber Knife's versatility in treating both intracranial and extracranial tumors, along with its ability to target moving organs, makes it a sought-after option for complex cases. This has expanded its application beyond brain tumors to treat conditions in the lung, liver, prostate, and spine, among others.
Stereotactic Surgery Devices Market Analysis By Application
The global Stereotactic Surgery Devices Market can also be segmented based on the type of application, including Breasts, Liver, Lungs, and Colon. The liver segment holds a dominant position in the global Stereotactic Surgery Devices Market. Liver stereotactic surgery is widely used for the treatment of both primary and metastatic liver tumors. The increasing prevalence of liver cancer and the growing adoption of minimally invasive surgical techniques have contributed to the significant market share of this segment. Liver stereotactic surgery devices offer precise targeting and treatment, allowing for better tumor control and reduced damage to healthy liver tissue. The rising demand for effective liver cancer treatments, coupled with advancements in imaging technologies and surgical navigation systems, has driven the popularity of liver stereotactic surgery devices.
The lungs segment is the fastest-growing segment in the global Stereotactic Surgery Devices Market. Lung stereotactic surgery, also known as stereotactic body radiation therapy (SBRT), has gained immense popularity as a non-invasive alternative to traditional lung cancer treatments. SBRT allows for highly accurate and targeted radiation delivery to lung tumors, resulting in better tumor control and minimal damage to surrounding healthy lung tissue. The increasing incidence of lung cancer, especially in non-small cell lung cancer cases, has boosted the demand for lung stereotactic surgery devices. Moreover, advancements in imaging technology and real-time navigation systems have improved the safety and efficacy of lung stereotactic surgery, contributing to its rapid growth in the market.
Global Stereotactic surgery devices Market By Type
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Stereotactic Surgery Devices Market Regional Insights
North America is the dominating region in the global Stereotactic Surgery Devices Market, attributed to its advanced healthcare infrastructure, well-established research facilities, and high healthcare expenditure. It holds the highest market share of 41.3%. The region has a strong presence of key market players, contributing to the widespread adoption of stereotactic surgery devices. Moreover, the rising prevalence of neurological disorders, particularly in the aging population, has bolstered the demand for these devices. Favorable reimbursement policies and increasing awareness among healthcare providers and patients about the benefits of minimally invasive procedures have further driven the growth of the market in North America. Additionally, technological advancements and continuous research and development efforts in the region have led to the introduction of cutting-edge devices, maintaining its dominant position in the market.
Asia Pacific is the fastest-growing region in the global Stereotactic Surgery Devices Market, experiencing rapid expansion due to factors such as improving healthcare infrastructure, increasing disposable incomes, and a rising geriatric population. The region's large patient pool with neurological disorders has created significant demand for innovative treatment options, including stereotactic surgery devices. The growing awareness of advanced medical technologies and the adoption of minimally invasive procedures have contributed to the market's acceleration in Asia Pacific. Additionally, increasing investments in healthcare and the establishment of specialized neurosurgery centers have enhanced accessibility to stereotactic surgery devices in the region. Collaborations between global market players and local healthcare providers have also facilitated the introduction of these devices in various Asian countries, boosting the region's growth rate.
Global Stereotactic surgery devices Market By Geography
- Largest
- Fastest
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Stereotactic Surgery Devices Market Dynamics
Stereotactic Surgery Devices Market Drivers
Increasing Prevalence of Neurological Disorders
- The rising incidence of neurological conditions, such as Parkinson's disease, epilepsy, and brain tumors, has contributed significantly to the demand for stereotactic surgery devices. These advanced devices offer targeted and precise treatment options for complex neurological disorders, providing better patient outcomes.
Rise in Geriatric Population
- The aging population is more prone to neurological disorders, such as Parkinson's and Alzheimer's diseases. As the global population continues to age, the demand for stereotactic surgery devices is expected to increase, addressing the healthcare needs of the elderly.
Stereotactic Surgery Devices Market Restraints
Stringent Limited Awareness and Training
- Stereotactic surgery techniques require specialized skills and training for effective and safe implementation. The lack of awareness and training among healthcare professionals may impede the adoption of these technologies, leading to underutilization of stereotactic surgery devices.
Risks and Complications
- Despite being minimally invasive, stereotactic procedures carry inherent risks, including infection, bleeding, or unintended damage to healthy tissue. Concerns about potential complications may lead some patients and healthcare providers to opt for traditional treatments or alternative approaches.
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Stereotactic Surgery Devices Market Competitive Landscape
The competitive landscape of the Global Stereotactic Surgery Devices Market is characterized by a mix of established multinational companies and innovative startups striving to gain a competitive edge. Key players such as Medtronic, Elekta AB, and Varian Medical Systems, with their extensive global presence and diverse product portfolios, dominate the market. These companies invest heavily in research and development to introduce cutting-edge technologies and maintain a strong market position. The market also witnesses the emergence of startups and niche players, particularly in regions with growing demand for healthcare solutions. These startups often focus on specific applications or niche technologies, providing innovative solutions tailored to the needs of the local market. They compete by offering cost-effective alternatives or catering to unmet clinical needs. Overall, the competitive landscape in the Stereotactic Surgery Devices Market remains dynamic, with companies vying for market share through continuous innovation, strategic collaborations, and expanding their global presence. As technology continues to evolve, the competition is likely to intensify, driving further advancements in stereotactic surgical techniques and benefiting patients worldwide.
Stereotactic Surgery Devices Market Top Player’s Company Profiles
- Abbott Medtronic
- Elekta AB
- Varian Medical Systems, Inc.
- Brainlab AG
- Accuray Incorporated
- Micromar
- Radionics
- Alliance Oncology
- MASEP Infini Global
- Adeor Medical AG
- GammaStar
- Monteris Medical
- Stereotaxis, Inc.
- Nexstim
- Inomed Medizintechnik
- Integra LifeSciences Corporation
- Renishaw plc
- ZAP Surgical Systems
Stereotactic Surgery Devices Market Recent Developments
- In In July 2023, Medtronic and Zimmer Biomet entered into a strategic partnership to co-develop a new line of robotic-assisted orthopedic surgery systems, expanding their product offerings in the Stereotactic Surgery Devices Market.
- In May 2023, Monteris Medical Corporation secured significant funding from venture capital firms to support the further development and commercialization of its innovative stereotactic surgery devices.
Stereotactic Surgery Devices Key Market Trends
- Shift Collaborations and Partnerships: Key market players are increasingly forming collaborations and partnerships with research institutions and healthcare providers to enhance product development and expand their geographical reach. These partnerships help foster innovation and improve the accessibility of stereotactic surgery devices.
- Focus on Personalized Medicine: With a shift towards personalized medicine, there is a growing emphasis on customized treatment plans for patients. Stereotactic surgery devices play a crucial role in delivering precise and individualized therapies, aligning with this trend in modern healthcare.
Stereotactic Surgery Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global Stereotactic Surgery Devices Market analysis, the market has witnessed remarkable growth due to the rising prevalence of neurological disorders, technological advancements, and increasing demand for minimally invasive procedures. Stereotactic surgery enables precise targeting of specific areas in the brain or body, reducing damage to healthy tissue. Advancements in 3D imaging, robotics, and real-time navigation have improved accuracy and patient safety. Key players' research and development efforts have led to innovative products and expanded market reach. However, challenges include strict regulatory requirements and high costs hindering market entry and accessibility in low-income regions. Despite this, the market is expected to continue its growth trajectory, providing safer and more effective treatment options for neurological conditions globally.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 21.8 billion |
| Market size value in 2031 | USD 35.9 billion |
| Growth Rate | 5.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Stereotactic Surgery Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Stereotactic Surgery Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Stereotactic Surgery Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Stereotactic Surgery Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Stereotactic Surgery Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Stereotactic Surgery Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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