The global stereotactic surgery devices market size is expected to grow at a decent pace in the forthcoming years as per the market study released by Market Research Future (MRFR). The global market valuation stayed at a CAGR of 4.30% during the forecast period 2023-2032.
Stereotactic surgery is a surgical intervention method that is minimally invasive in nature and uses a 3D coordinate system for locating small targets comprising inside the body and performs various key actions like biopsy and ablation. This form of surgery is used for the treatment and diagnosis of various neurological conditions. In a stereotactic brain tumor surgery, the tumor is removed with the help of image guidance which is obtained previously.
The market is expected to showcase growth due to the increasing preference among the masses for minimally invasive form of surgeries and increasing prevalence of brain-related conditions like Parkinson’s disease. However, at the same time, the market growth can be constrained due to the high cost of installation and low charges of treatment which delays the recovery of the invested amount, one which thereby limits the adoption of the technology.
The global stereotactic surgery devices market players includes, including GE Healthcare, Mitsubishi Heavy Industries, Ltd., Ferring B. V., Huiheng Medical, Inc., Varian Medical Systems, Koninklijke Philips N.V., Elekta AB, Accuray, Inc., Hitachi Medical Systems, and Shinva Medical Instrument Co., Ltd.
The market segmentation of the global stereotactic surgery devices is classified into the following key dynamics: product type and application.
By application, the market includes Parkinson’s disease, brain tumor, epilepsy, arteriovenous malformations, and others.
By product type, the market comprises of Linear accelerators (LINAC), gamma knife, proton beam therapy, and cyberknife. The Linear Accelerators segment is projected to hold the highest share of the market due to the growing rate of adoption and installations. In addition to these, the cyberknife segment is expected to be the fastest growing segment of mentioned product types over the assessment period due to its proliferating popularity and demand across developing economies.
The geographical segmentation of the global stereotactic surgery devices market insights covers the following key regions: the Americas, Asia Pacific, Europe, and the Middle East & Africa.
The Americas is the dominant region in the global landscape of stereotactic surgery devices. The region is expected to continue its global dominance in the forthcoming years as well. This is due to the increasing prevalence of neurological diseases, high disposable income, and the presence of an established healthcare infrastructure. The US contributes significantly to the overall Americas market, and its projected growth is expected to propel the entire regional market.
Europe holds the second largest position in the global stereotactic surgery devices market. The region is expected to hold on to its market position in the forthcoming years due to the growing occurrence of brain-related disease and presence of an established healthcare industry. The Asia Pacific region comprises of various leading and developing economies in the world, namely India, China, Australia, japan, Republic of Korea, and others. The region is expected to garner notable growth due to similar factors as that of the European region.
Finally, the Middle East & African regional market holds the least share in the global landscape and is expected to garner minimal growth percentage during the forecast period. The meagre growth of the region can be attributed to the Middle East region’s developed healthcare industry and growing number of initiatives undertaken by the government in favor of the healthcare sector. The growth in this region, particularly in the Middle East, is primarily spearheaded by countries like the United Arab Emirates (UAE) and Saudi Arabia.
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