Stereotactic Surgery Devices Market size is poised to reach USD 44 Billion by the end of 2036, growing at a CAGR of 5.7% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of stereotactic surgery devices was USD 26 Billion. The reason behind the growth is due to the rising cases of cancer across the globe. Stereotactic radiosurgery, such as Gamma Knife, is a three-dimensional surgical technique and a very precise form of therapeutic radiation that is often used to treat noncancerous (benign), cancerous (malignant) brain tumors, and also to treat small, early-stage lung cancer and pancreatic cancer, or cancers that have spread to the lung, liver, or adrenal gland.
For instance, Cancer is one of the world's top causes of death, accounting for more than 9 million deaths in 2020, and it is anticipated that by 2040, there will be more than 27 million new cancer cases worldwide.
The growing technological advancements are believed to fuel the market growth. Stereotactic radiation is constantly being improved, owing to technological advances that aid in boosting treatment precision.
Growth Drivers
Mobile augmented reality will become increasingly popular in the next 2-3 years, with estimates indicating that there will be more than 2 billion mobile AR users worldwide by 2023.
Challenges
Besides this, the market for stereotactic surgery equipment is changing rapidly as a result of extensive research and development activity by leading competitors which usually costs more as these devices require a high level of precision and availability of trained professionals. Furthermore, the high cost of device maintenance also adds to the overall cost.
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~5.7% |
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Base Year Market Size (2023) |
~ USD 26 Billion |
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Forecast Year Market Size (2036) |
~ USD 44 Billion |
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Regional Scope |
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Application (Liver, Breast, Prostate, Lung, Colon)
The breast segment is estimated to account for 25% share of the global stereotactic surgery devices market in the coming years owing to the rising cases of breast cancer. It is expected that smoking, exposure to carcinogenic substances, changes in other hormones caused by night shift jobs, family history, obesity, and a sedentary lifestyle raise the risk of breast cancer. This has led to an increase in demand for stereotactic surgery devices as stereotactic radiation therapy appears to be promising for elderly women with breast cancer. For instance, The FDA has authorized GammaPod, a novel breast-specific stereotactic body radiotherapy equipment designed to treat breast cancer since it can apply ablative doses with sharp gradients using stereotactic image guidance which means that the tumor receives a high dosage of radiation while the tissues surrounding it receive a considerably lesser dose that reduces the likelihood of side effects.
In 2020, there were more than 7 million women alive who had been diagnosed with breast cancer in the previous five years, making it the world's most common malignancy, which is expected to increase by more than 35% by 2040, to over 2 million cases per year.
Product (Gamma Knife, LINAC, Proton Beam Radiation Therapy (PBRT), CyberKnife)
Stereotactic surgery devices market from the gamma knife segment is set to garner a notable share shortly. Stereotactic radiosurgery, such as Gamma Knife, is a radiation therapy equipment that uses very accurate gamma ray beams to treat a lesion or tumor, and aberrant blood vessel forms in adults and children. Moreover, tumors and other diseases are destroyed with high-energy radiation by employing computer-aided design tools whereby instead of opening the skull to remove a tumor or lesion, gamma radiation beams are used.
Besides this, the LINAC (Linear Accelerator) segment may garner significant share during the forecast timeframe. The LINAC is presently the most often utilized device for conventional radiation and radiosurgery delivery that is becoming more common as a method of radiation therapy for cerebral arteriovenous malformations (AVMs). During treatment, the LINAC equipment moves and rotates around the target to provide radiation beams from various angles and is known as the most widely used method for delivering stereotactic radiosurgery and stereotactic body radiotherapy, respectively which is a non-surgical radiation therapy that is used to treat functional impairments and tiny brain tumors.
Our in-depth analysis of the global stereotactic surgery devices market includes the following segments:
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Product |
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Application |
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End-Use |
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North American Market Forecast
Stereotactic surgery devices market in North America is predicted to account for the largest share of 42% by 2036 impelled by the rising government initiative to increase cancer awareness. Recently 50 new actions and commitments to end cancer were announced by the President of the United States to decrease the cancer death rate and to prevent more than 3 million cancer deaths by 2047. For instance, The American Cancer Society (ACS) will develop a new curriculum and certification program for oncology professional navigators to support individuals with cancer which is an essential component in clinical settings to improve cancer outcomes in the United States, by ensuring that every cancer patient obtains timely, high-quality, and culturally competent care.
APAC Market Statistics
The APAC stereotactic surgery devices market is estimated to be the second largest, during the forecast timeframe led by growing medical tourism. India has evolved as a medical tourism hotspot that provides patients from all over the world with affordable, high-quality healthcare services. Moreover, India was ranked 10th in the 2020-2021 Medical Tourism Index, and its reputation as a top destination for medical treatments is projected to rise in the future years. This can lead to an increase in the demand for stereotactic surgery devices in the region.
For instance, more than 1 million patients from over 75 countries visit India each year for medical, wellness, and IVF treatments, generating roughly USD 5 billion for the business, which is predicted to grow to around USD 12 billion by 2026.
Author Credits: Radhika Gupta, Shivam Bhutani
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