Global Gamma Knife market is set to record the CAGR of nearly 7.2% over the period from 2020 to 2026.
The global Gamma Knife market is set to record the CAGR of nearly 7.2% over the period from 2020 to 2026. The report offers assessment and analysis of the Gamma Knife market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million).
Gamma knife is advanced kind of radiation treatment for children as well as adults having small to medium brain tumors, epilepsy, arteriovenous malformations, trigeminal neuralgia, and a nerve condition causing chronic pain. Moreover, gamma knife is a beam of highly focused gamma rays that destroy the damaged tissues or tumors in brain. Patients affected due to severe ailments are treated with the help of gamma knife technology as it is a non-invasive procedure and helps in reducing hospital stay for an elongated duration. Reportedly, this technique of radiosurgery is preferred over other invasive techniques across the globe and has gained immense popularity & acceptance across the global healthcare sector.
Market Growth Dynamics
Rise in the occurrence of cancer and growing inclination towards minimally-invasive surgical procedures will drive the market trends. Apart from this, rise in the aging populace prone to chronic ailments will pave a way for the growth of the market in the near future. In addition to this, burgeoning use of gamma knife therapy for treating neurological disorders will embellish the business growth in the years to come. Moreover, it is safe, causes lesser damage to tissues in vicinity, and offers micro precision during treatment of neurological diseases.
Reportedly, rise in the popularity of Leksell gamma knife icon and constant advancement witnessed in the gamma knife techniques will prompt the surge in the industry progression in the years to come. Nonetheless, huge gap between demand & supply of gamma knife technique in African countries and high cost of these techniques as well as low awareness about the techniques in the emerging economies will obstruct the growth of the market in the years ahead.
Asia Pacific Market Size To Reach Scalable Heights Over Forecast Timespan
The growth of the market in Asia Pacific over the estimated timespan is due to growing awareness about the benefits of the technique and entry of new players in the business. In addition to this, improvement in healthcare facilities and acceptance of stereotactic surgeries in the region will further drive the industry growth in Asia Pacific. Countries like South Korea, China, Japan, Thailand, and India are predicted to be key regional revenue pockets over the forecast timespan.
Key players in the industry are Nordion Inc., Varian Medical Systems, American Shared Hospital Services, Elekta, Huiheng Medical, Inc., and ET Medical Group.
The global gamma knife market is segmented as follows:
Rise in the occurrence of cancer and growing inclination towards minimally-invasive surgical procedures will drive the market trends.
The CAGR of the industry is expected to be nearly over 7.2% during the forecast time.
Asia Pacific will contribute remarkably towards the global market share over the estimated timeframe.