US$ 400 Million Opportunity in the Global Gamma Knife Market
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The global Gamma Knife market, valued at US$ 172 million in 2015, is projected to increase at over 9% CAGR through 2025, surpassing US$ 400 million in revenues. Growth will be strongest in the U.S., EU5, Japan, South Korea, China, and India.
Elekta and Varian Medical Systems will remain dominant players in developed regions, whereas China-based Huiheng Medical, Inc. will consolidate its position in Asia Pacific.
North America, currently the largest market for Gamma Knife, will be relegated to second spot owing to strong adoption of Gamma Knife equipment in Asia Pacific.
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High Success Rate Boosting Adoption among End-users
Increasing preference toward non-invasive procedures has positively impacted the adoption of radiation therapy, with LINAC, Cyber Knife, and Gamma Knife gaining traction in the healthcare sector. Increasing preference for minimally-invasive surgeries, positive perception toward Gamma Knife, and high success rate are among the chief factors expected to boost adoption during the forecast period, 2015-2025.
Rising per capita healthcare expenditure, emphasis on R&D, and medical tourism are also expected to support the growth of Gamma Knife market in the long run. Technological advancement that make Gamma Knife safer and more effective are also expected to increase its adoption among end-users during the forecast period.
However, high cost continues to be a major challenge for widespread adoption and can limit its adoption in developing countries.
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Brain Metastasis will be the Largest Disease Indication Segment
Gamma Knife radiation therapy is used to treat a number of disease indications, including brain metastasis, cancer, AVM, and trigeminal neuralgia. Among these, use of Gamma Knife for treating brain metastasis will account for a significant percentage of global market revenues, followed by cancer and trigeminal neuralgia.
Throughout the forecast period 2015-2025, brain metastasis will remain the largest disease indication segment for Gamma Knife market.
Asia Pacific will pip both North America and Europe to emerge as the largest market for Gamma Knife by 2025. Robust adoption of Gamma Knife equipment in Japan, South Korea, China, and India will continue to drive the growth of the market in Asia Pacific.
The Asia Pacific Gamma Knife market is projected to at over 10% CAGR during the forecast period 2015-2025. North America and Europe will lose market share to Asia Pacific and collectively account for nearly 50% revenue share of the market by 2025.
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Elekta, Varian Medical Systems, and Huiheng Medical, Inc. – leading Gamma Knife equipment manufacturers, will continue to leverage its position through innovative product development and foray into new markets.
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