The global gamma knife market secured US$ XX Mn in 2015, and is expected to grow at more than xx% CAGR through 2025, accounting for over US$ XX Mn in terms of revenues. Strong growth is expected in regions such as India, South Korea, the U.S., Japan, EU5 and China. Varian and Elekta medical systems are likely to retain their dominance in developed economies, whereas Huiheng Medical, Inc. based at China will consolidate its position in Asia Pacific. Currently, North America, the biggest market for the gamma knife is likely to demote to second position due to robust acceptance of the gamma knife equipment in Asia Pacific.
Drivers and Trends of Market
Inclination towards non-invasive treatments have positively impacted adoption of radiation therapy, with Gamma Knife, LINAC and Cyber Knife gaining traction in healthcare sector. Positive perception toward gamma knife, rising preference for minimally-invasive surgeries and huge success rate are among the key factors anticipated to propel adoption of gamma knife treatment over the forecast period. Medical tourism, emphasis on R&D and increasing expenditure per capita on healthcare are some other factors anticipated to support growth of the market in long run. Improvements in technology that makes gamma knife more effective and safer are also expected to expand its adoption among end-users throughout the forecast period. Yet, high cost continues to be main challenge for widespread adoption and is likely to limit its adoption in developing economies.
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Brain Metastasis to Remain Largest Disease Indication Segment
Gamma knife treatment is applicable to treat various disease indications, including trigeminal neuralgia, cancer, brain metastasis, and AVM. Among these, application of gamma knife for remedying brain metastasis is likely to account for significant percentage of total market revenues, trailed by cancer and trigeminal neuralgia. Brain metastasis is likely to remain largest disease indication segment for gamma knife market over the forecast period.
Asia Pacific Gamma Knife Market to Expand at Significant CAGR
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Asia Pacific is likely to pip both Europe and North America to emerge as the largest market for gamma knife by 2025-end. Increasing adoption of gamma knife equipment in India, South Korea, Japan, and China will support expansion of the gamma knife market in Asia Pacific. The gamma knife market in Asia Pacific is estimated to expand at CAGR of more than 10% throughout the forecast period. APEJ will emerge as more lucrative region than Europe and North America however, collectively secure nearly two-fourth revenue share of the global gamma knife market by the end of 2025.
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Prominent Market Player’s Strategies to Maintain Market PositionHuiheng Medical, Inc., Elekta, and Varian Medical Systems are prominent gamma knife equipment manufacturers. These players are likely to maintain their position in the market through continuous innovative product development and stepping in into new markets