Radiosurgery Systems Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Condition, by End User : Global Opportunity Analysis and Industry Forecast, 2021-2031

Radiosurgery Systems Market Research, 2031

The global radiosurgery systems market size was valued at $2.10 billion in 2021, and is projected to reach $3.98 billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031.Radiosurgery is a type of external radiation therapy that uses a special device to position the patient and precisely delivers a single large dose of radiation to the tumor. Although it is called surgery, radiosurgery does not involve actual surgery. Instead, highly focused beams of radiation (gamma rays, X-rays, or protons) are used to treat cancerous tissues without surgical incision or opening. It destroys the DNA of tumor cells, making them unable to reproduce and grow. It also called stereotactic radiosurgery, is a precise form of radiation therapy. Medical conditions such as brain tumor, spine tumor, cancer require radiosurgery to treat malignant or benign tumor. The types of radiosurgery systems are gamma knife system, linear accelerator systems, and proton beam therapy.

Growth of the global radiosurgery systems market size is majorly driven by rise in number the number of chronic diseases such as cancer, technological advancement in healthcare sector and increase in the number of product launch and product approval for radiosurgery systems. Majorly, radiosurgery is used in brain tumor and spine tumor. Thus, rise in the prevalence of brain tumor and spine tumor anticipated to fuel the demand of radiosurgery systems for treatment purpose which boots the market growth. For instance, according to American Cancer Society, in 2021, it was estimated that, 83,570 individuals will be diagnosed with brain and other CNS tumors in the U.S. Among these cases 24,530 malignant tumors and 59,040 nonmalignant tumors. As per the same source, 18,600 is estimated number of deaths due to cancer. Moreover, radiosurgery is minimally invasive surgery which associated with many benefits. Thus, rise in the awareness about effectiveness of minimally invasive among population boots the growth of radiosurgery systems market. There are various benefits of minimal invasive radiosurgery such as faster recovery, lower morbidity and mortality, and shorter hospital stay, support their adoption. As a result, these devices replace conventional invasive procedures. Furthermore, the growing interest in these devices among patients suffering from arteriovenous malformations, epilepsy and Parkinson's disease is estimated to provide a significant boost to the market in the coming years.  

Advancement in the technology for radiosurgery systems anticipated to fuel the growth of market. Rise in the number of product launch for radiosurgery systems boosts the  radiosurgery systems market growth. For instance, in May 2022, Elekta, a leading innovator of precision radiation therapy solutions, announced launch of new radio surgery system known as Elekta Esprit, this is next generation Gamma Knife radiosurgery system. Moreover, increase in the adoption of key strategies such as collaboration, agreement, acquisition, and business expansion by radiosurgery industry boosts the radiosurgery systems market trends. For instance, in October 2020, Accuray Incorporated, a pioneer in the robotic stereotactic radiosurgery (SRS), announced collaboration with Brainlab, a Munich, Germany based market leader in digital surgery and precision radiotherapy. This collaboration is for enhancement and expansion of Accuray CyberKnife treatment platform for the neuro-radiosurgery market.

On the other hand, the advanced technology of radiation therapy is prohibitively expensive in most developing countries, which hinders their ability to expand economically. Thus, this factor attributed to hinder the growth of market. Larger radiation machines require sufficient room. The lack of infrastructure in nations with low healthcare spending is one of the most important limiting factors.   

Radiosurgery Systems Market Segmentation

The radiosurgery systems market is segmented into Type, Condition and End User. On the basis of type, the market is classified into gamma knife system, linear accelerator systems and proton beam therapy. On the basis of condition, the market is bifurcated into brain tumors and spine tumor. Brain tumor is further bifurcated into malignant and non-malignant. Malignant segment further sub-categorized into Meningioma, pituitary tumor and others. Non-malignant further sub categorized into Glioblastoma, Anaplastic astrocytoma and others. On the basis of end user, the market is bifurcated into hospitals and academic & research institute. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Segment Review

The gamma knife system segment dominated the market in 2021, and is expected to continue this trend throughout the forecast period, owing to neurological disorders and brain tumor and rapid adoption of gamma knife radiosurgery as effective treatment option. However, the proton beam therapy segment is expected to witness considerable growth during the radiosurgery systems market forecast period, owing to increase in the use of proton beam therapy in treatment of cancer and tumors, less side effects and high effectiveness associated with proton beam therapy comparing to other radiosurgery system.

The brain tumor segment dominated the market in 2021, and is expected to continue this trend throughout the forecast period, owing to rise in the prevalence of brain tumor and brain cancer, technological advancement in healthcare sector and increase in awareness among the people regarding importance of health. However, the spine segment is expected to witness considerable growth during the forecast period, owing to rise in prevalence of spinal cord cancer, surge in awareness about spinal cord tumor, and increase in number of professionals who conduct surgeries for the treatment of spine tumor.    

The hospital segment dominated the market in 2021, and is expected to continue this trend throughout the forecast period, owing to rise in the number of hospitals, increase in the expenditure by government to develop healthcare infrastructure and rise in the number of chronic diseases. However, the academic & research institutes segment is expected to witness considerable growth during the forecast period, owing to increase in number of research and development activities and rise in number of professionals who conduct research activities.

The North America market was dominant, in terms of revenue among other regions in 2021, owing to increase in the number of research activities, technological advancement in the healthcare sector and rise in the prevalence of chronic diseases and presence of key plyers who manufacture radiosurgery systems. On the other hand, Asia-Pacific was the second-largest contributor in the market in 2021, and is expected to register fastest CAGR during the forecast period, owing rise in expenditure by government organization to develop healthcare sector, increase in prevalence of chronic diseases and rise in the geriatric population. 

Some of the major companies that operate in the global radiosurgery systems market share include Accuray Incorporated, Elekta AB (Innovator), Atrium Health, Avocure, Brain LAB, Integra Life Sciences Holding Corp, Ion Beam Applications SA, Medtronic, Mevion Medical Systems, Inc., Nordion Inc., Reflexion Medical, Siemens (Varian Medical Systems), Summit Cancer Centers, ViewRay, Vision RT, Xcision Medical Systems, ZAP surgical System Inc.       

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the radiosurgery systems market analysis from 2021 to 2031 to identify the prevailing radiosurgery systems radiosurgery systems market opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the radiosurgery systems market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global radiosurgery systems market trends, key players, market segments, application areas, and market growth strategies.

  Radiosurgery Systems Market Report Highlights

Aspects	Details
By Type	Linear accelerator systems Proton beam therapy Gamma Knife system
By Condition	Brain Tumors Type Malignant Non malignant Spine Tumors
By End User	Hospitals Academic and Research institute
By Region	North America  (U.S., Canada, Mexico) Europe  (Germany, France, UK, Italy, Spain, Rest of Europe) Asia-Pacific  (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific) LAMEA  (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
Key Market Players	ZAP surgical System Inc., Brainlab, Xcision Medical Systems, Nordion Inc., ACCURAY INCORPORATED, Integra LifeSciences Holding Corp, Siemens (Varian Medical Systems), Medtronic, ViewRay, Elekta AB, Avocure, Atrium Health, vision rt ltd, Mevion Medical Systems, Inc., Summit Cancer Centers, RefleXion Medical, Ion Beam Applications SA

Analyst Review

Radiosurgery, also called stereotactic radiosurgery, is a precise form of radiation therapy. Medical conditions such as brain tumor, spine tumor, cancer require radiosurgery to treat malignant or benign tumor. The radiosurgery systems market is expected to exhibit growth during the forecast period owing to rise in the prevalence of brain tumor, increase in the number of cancer cases, and technological advancement.

Rise in adoption of key strategies such as collaboration, acquisition, agreement and partnership by key players of radiosurgery systems fuels the growth of market. For instance, in October 2020, Accuray Incorporated, a pioneer in the robotic stereotactic radiosurgery (SRS), announced collaboration with Brainlab, a Munich, Germany based market leader in digital surgery and precision radiotherapy. This collaboration is for enhancement and expansion of Accuray CyberKnife treatment platform for the neuro-radiosurgery market. Moreover, in April 2022, Xcision Medical Systems, LLC, a medical technology company, announced that Azienda Sanitaria Universitaria Friuli Centrale (ASU FC) in Italy recently began treating patients with GammaPod Stereotactic Radiosurgery System for treatment of breast cancer in women.

In addition, rise in the number of product approval for new technologies fuels the market growth. For instance, in April 2019, Xcision Medical Systems, LLC, a medical technology company, announced GammaPod stereotactic radiotherapy system has received CE mark. GammaPod stereotactic radiotherapy system is used in the treatment of breast cancer.

Author Name(s) : Linu Dash | Roshan Deshmukh

Related Tags

• Medical Imaging
• Surgical Equipment
• Neurology

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