Stereotactic Radiosurgery Market: Current Analysis and Forecast (2023-2030)

Report Description

The Stereotactic Radiosurgery Market is expected to reach USD 7.5 Billion in 2030 by growing at a CAGR of 5.1%.  For instance, according to the report of the U.S. Census Bureau in 2021, more than 54 million people of geriatric age were living in the country in 2020 and this number is expected to reach 85.7 million by 2050, which will be about 20% of the total population of the U.S. In addition to this, the increasing product launches by pharmaceutical companies to find a cure for chronic diseases, such as cancer are also driving the stereotactic radiosurgery market. Global pharmaceutical giants are leaving no stone unturned to showcase their potential for finding cures for rising cases of cancer. For instance, the American Cancer Society (ACS) estimates that there will be 235,760 lung cancer cases in the U.S. in 2021.

Some of the major players operating in the market include Elekta; Accuray Incorporated; Varian Medical Systems, Inc.; Akesis, Inc.; Provision Healthcare; IBA Worldwide; ProTom International; Advanced Oncotherapy; Hitachi, Ltd.; Mevion Medical Systems.

Insights Presented in the Report

“Amongst technology, the proton beam radiation therapy category to grow with high CAGR during the forecast period”

Based on technology, the market is segmented into gamma knife, linear accelerator, proton beam radiation therapy, cyberknife, and others. The proton beam radiation therapy segment is expected to hold a significant share in the forecast period owing to the utilization of proton beam therapy in the treatment of cancer and tumors. This prevalence has seen a significant increase, resulting in fewer adverse reactions and a high level of efficacy compared to other radiotherapy systems which has led to multiple innovative product launches. For instance, in October 2022, Mevion Medical Systems announced the introduction of their Mevion Proton Therapy System, which combines the capabilities of a proton therapy device with the capabilities of a pencil beam scanner (PBS). This system will be the first of its kind to be designed and implemented in the Stanford Healthcare facility. Top of FormThus, amongst technology, the proton beam radiation therapy category is expected to grow with a high CAGR during the forecast period.

“Amongst application, the brain cancer segment held a significant share in the year 2022”

By the application, the market is bifurcated into brain cancer, prostate cancer, head and neck cancer, breast cancer, lung cancer, and others. The brain cancer segment held a significant share in 2022 majorly due to the rise in the prevalence of brain cancer. For example, according to the American Cancer Society, it is estimated that people will be diagnosed with tumors in the brain and other parts of the central nervous system (CNS) in 2021 in the U.S., out of these, 24,530 are malignant and 59,040 are benign. Also, advances in technology, increased awareness of medical conditions, and an aging population are all factors that have contributed to this development of the segment. Thus, the brain cancer segment dominated the market in the year 2022 amongst applications.

“Amongst end-users, the ambulatory surgical center segment to grow with a significant rate in forecast period”

Based on end-users, the market is segmented into hospitals, ambulatory surgical centers, and others. The ambulatory surgical center segment is expected to grow with high CAGR owing to the growth of healthcare systems, as well as the rise in the incidence and prevalence of chronic diseases, like cancer and Parkinsonian disease. Also, several new launches and programs for providing enhanced care to patients are driving this segment’s growth. A prime example of this is the launch of the Walgreens Find Care specialty pharmacy program in June 2020 by Walgreens Boots Alliance, which is intended to provide individualized care to those with rare and chronic conditions, such as stereotactic radiosurgery. Thus, amongst end-users, the ambulatory surgical centers segment is expected to grow at a significant rate in the forecast period.

“Amongst regions, North America region held a significant share in the year 2022”

For a better understanding of the market adoption of the stereotactic radiosurgery industry, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America dominated the market of stereotactic radiosurgery in 2022. Several factors such as an increase in the incidence of cancers, an increase in the demand for non-hazardous medical treatments, an increase in government attention to the sector, an increase in chronic diseases, a surge in government investment in expanding healthcare facilities, and the implementation of regulatory reforms. For instance, the American Society of Clinical Oncology ASCO reported in January 2021 that head and neck cancer was responsible for approximately 4% of all cancer cases in the U.S. in 2020. An estimated 66,630 individuals (48,740 males and 17,860 females) had been diagnosed with head and neck cancers in 2020. North America dominated the stereotactic radiosurgery market among regions in the year 2022.

Stereotactic Radiosurgery Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global stereotactic radiosurgery market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team

Frequently Asked Questions (FAQ)

Research Methodology

Research Methodology for the Stereotactic Radiosurgery Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global stereotactic radiosurgery market were the three major steps undertaken to create and analyze the adoption of stereotactic radiosurgery in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global stereotactic radiosurgery market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the stereotactic radiosurgery market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the stereotactic radiosurgery market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments and sub-segments for major regions. Major segments are included in the report as technology, application, end-users, and region. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the stereotactic radiosurgery market. Further, we conducted factor analysis using dependent and independent variables such as technology, application, end-users, and region of the stereotactic radiosurgery market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the stereotactic radiosurgery market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global stereotactic radiosurgery market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the stereotactic radiosurgery market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global stereotactic radiosurgery market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global stereotactic radiosurgery market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the technology, application, end-users, and region in the global stereotactic radiosurgery market.

The main objective of the Global Stereotactic Radiosurgery Market Study

The current & future market trends of the global stereotactic radiosurgery market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the stereotactic radiosurgery market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of technology, application, end-users, and region Define and analyze the regulatory framework for the stereotactic radiosurgery industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the stereotactic radiosurgery market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the stereotactic radiosurgery market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team