According to Persistence Market Research (PMR), the global gamma knife market will reach a valuation of US$651,241.9 thousand by 2020. Across the world, the increasing prevalence of chronic diseases such as cancer and obesity and an increasing geriatric population base susceptible to diseases are the reasons for the proliferation of the global gamma knife market. Along with this, initiatives undertaken by healthcare groups and government welfare agencies for adoption of advanced medicine are contributing to the growth of the gamma knife market.
However, the growth of this market is impeded by regulations and the availability of insufficient technical capabilities for operating gamma knife systems. Gamma knife systems are subject to stringent regulatory clearances that require long approval times due to utilization of the equipment for critical health conditions. The high cost of installation and inadequate number of skilled personnel to operate gamma knife systems are detrimental to the market’s growth.
What does Gamma Knife Therapy involve?
Analysts at PMR present an overview of the features of gamma knife systems and how these systems are used for specialty medical treatments:
Gamma knife systems are one of the three radiosurgery systems. These systems are denoted as cobalt 60 systems, since cobalt is the source of gamma rays in these systems.
Gamma knife radiosurgery is an important form of radiation therapy for the treatment of tumors and other deformities in the brain.
Contrary to its name, gamma knife surgery is not a surgical procedure and nor does it involve the use of any kind of knife. The procedure involves using beams of highly focused gamma rays for treating small- and medium-sized lesions in affected organs.
Gamma knife surgery involves transmitting as much as 200 tiny rays of radiation that are focused on a tumor or other targeted cells. Nevertheless, the transmitted beam has very little effect on the brain tissue it traverses; the radiation beams converge to impart a strong radiation dose to the target cells.
Gamma knife radiosurgery is highly precise and only the malign cells are targeted, causing minimal damage to healthy tissues in their surroundings.
This surgery is preferred for its low chances of side effects compared with other radiation therapy types and is considered to be a safer treatment option than traditional brain surgery. Generally, gamma knife radiosurgery is performed as a one-time therapy carried out in one day.
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Increasing Incidence of Cancer Benefits North America Gamma Knife Market
North America is a significant market for gamma knife systems due to the widespread utilization of gamma knife radiosurgery in mainstream medicine. The valuation of the regional gamma knife market in North America will increase from US$217,115.5 thousand in 2014 to US$269,995.5 thousand by 2020 at a CAGR of 3.7% therein. In this region, the increasing incidence of cancer and increased awareness about gamma knife radiation therapy are bolstering growth of the regional market. According to the World Health Organization (WHO), in the U.S., approximately 2.8 million cancer cases were registered in 2000. Moreover, as per statistics from Hindawi Publishing Corporation – an international publication for surgical oncology – approximately 98,000 to 170,000 new cases of brain metastases are registered every year in North America. This high number of brain deformities leads to high demand for effective radiosurgery devices such as gamma knife systems.