Gamma knife radiosurgery is a radiation therapy, which is aimed at treating brain tumors, acoustic neuroma, pituitary tumors, and acoustic neuroma. The global gamma knife market is expected to witness significant growth in the years to come due to the increasing number of gamma knife radiosurgery procedures that are being introduced by the leading players. Some of the prominent companies in the global gamma knife market are Varian Medical Systems, Inc., Cyber Medical Corporation Limited, Nordion, Inc., ET Medical Group, American Shared Hospital Services, Elekta AB, Huiheng Medical, Inc., Masep Infini Global, Inc., and Hokai.
Recently, Antoni van Leeuwenhoek Hospital’s Cancer Institute acquired Elekta’s Leksell Gamma Knife Icon in Amsterdam. The new stereotactic radiosurgery system for the brain comes with an option to utilize frameless multi-session treatment or traditional frame-based treatment. Leksell Gamma Knife Icon is expected to offer enhanced flexibility in the stereotactic radiosurgery procedures. Frameless or mask-based therapy gives an opportunity to expand the range of cancer patients who can benefit from gamma knife radiosurgery. Leksell Gamma Knife Icon is expected to offer frameless treatments for the patients with a personalized treatment approach. NKI-AVL’s Gamma Knife Icon system is predicted to be operative by August 2016. KNI-AVL will be equipped with a range of Elekta linear accelerators, ancillary radiotherapy technology, and planning solutions.
Increasing Prevalence of Cancer to Drive Global Gamma Knife Market by 2020
The introduction of new gamma knife radiosurgery techniques by the emerging companies is expected to make the global market more competitive for the leading players in the years to come.
The global gamma knife market stood at US$526.7 mn in 2014 and is expected to reach US$651.2 mn by 2020 at a 3.60% CAGR. The increasing prevalence of cancer, rising obesity across the globe, rising aging population, and advancements in gamma knife radiology are some of the factors expected to drive the global gamma knife market during the forecast period. Lengthy approval procedures for gamma knife systems and strict regulatory requirements are two of the factors expected to restrict the growth of the global gamma knife market in the years to come. However, growing awareness among people about the importance of diagnosing and treating cancer at its early stage is predicted to boost the global gamma knife market in the coming few years.
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North America to Expand at 3.70% CAGR from 2014 to 2020
The global gamma knife market is segmented on the basis of application and geography. Based on application, the global gamma knife market is classified into brain tumors, trigeminal neuralgia, arteriovenous malformations, and brain metastases. The global brain metastases market stood at US$360.6 mn in 2014 and is predicted to reach US$448.9 mn by 2020 at a 3.70% CAGR.
By geography, the global gamma knife market is divided into North America, Europe, Latin America, and Asia. North America, being the largest region, is expected to progress from US$217.1 mn in 2014 to US$269.9 mn by 2020 at a 3.70% CAGR. However, Asia is expected to be the fastest growing regional segment of the global gamma knife market by 2020.