Stereotactic Surgery Devices Market Trends – Global Industry Overview and Compet

Posted by Nicky Arora on March 26th, 2020

The global stereotactic surgery devices market size is expected to reach USD 25.9 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.9% during the forecast period. Stereotactic surgery is a minimally invasive alternative for traditional invasive ablation and biopsy methods. Since, stereotactic surgery has various advantages such as higher efficacy, minimal or no surgical incisions, and lower risk of damage to healthy cells, it is replacing conventional radiotherapies. These surgical procedures have helped overcome drawbacks associated with traditional invasive surgeries, such as destruction of healthy cells and higher risk of recurrence & postoperative complications.

Only around 10.0% of the population in low and middle-income countries have access to radiation therapy, owing to dearth of radiation therapy devices. A market leader, Elekta, in its 2016 annual report stated that the number of installations of linear accelerators in high-income countries was approximately 13,000, whereas the requirement was around 25,000. Hence, huge demand-supply discrepancy of radiotherapy devices is likely to open new avenues for major market players in developing countries.

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Further key findings from the study suggest:

• Linear accelerators (LINAC) accounted for the leading volume share in 2017, owing to higher affordability and larger commercial availability
• CyberKnife is poised to exhibit the fastest growth over the forecast period owing to their growing adoption in developing countries
• North America dominated the market in 2017 due to number of government initiatives focused on creating awareness regarding availability of advanced treatment options and presence of developed healthcare infrastructure
• Some of the major players operating in the market are Siemens Ag, Elekta AB, Varian Medical Systems, IBA, and Accuray Incorporated

These players dominate the market with their strong brand identity and extensive geographical reach attained through various strategic initiatives such as mergers & acquisitions and partnership agreements.