According to a new market report published by Persistence Market
Research “Global Market Study on Gamma Knife: Asia to Witness
Highest Growth by 2020,” the global
Gamma Knife market is valued at USD 526,733.2 thousand in 2014
and is expected to grow at a CAGR of 3.6% from 2014 to 2020 to reach
an estimated value of USD 651,241.9 thousand in 2020.
Radiation therapy is a procedure entailing the precise delivery of
high doses of radiation to tumors and other relevant anatomical
targets. Gamma Knife radiosurgery is a major form of radiation
therapy. It is mainly used to treat brain tumors, arteriovenous
malformations, trigeminal neuralgia, acoustic neuroma, and pituitary
tumors. Globally, the Gamma Knife market is witnessing significant
growth due to increasing prevalence of cancer and obesity and growing
aging population. In addition, rising number of initiatives
undertaken by various government associations and the advanced
features of Gamma Knife systems are also driving the growth of the
market. However, stringent regulatory requirements and prolonged
approval time for Gamma Knife systems and a high cost of
implementation and shortage of skilled manpower inhibit the growth of
the market. The global Gamma Knife market is anticipated to grow from
an estimated USD 526,733.2 thousand in 2014 to USD 651,241.9 thousand
by 2020 at a CAGR of 3.6% during the forecast period.
In North America, the Gamma Knife market is growing due to the rising
incidence of cancer in the region. In addition, increased awareness
about Gamma Knife technology for cancer treatment is also boosting
the growth of the market in the region. According to WHO,
approximately 2.8 million people had cancer, including brain cancer,
in the U.S. in 2000. Moreover, according to the Hindawi Publishing
Corporation, an international journal of surgical oncology,
approximately 98,000 to 170,000 new brain metastases cases occur
every year in North America.
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In Europe, increasing prevalence of cancer is boosting the growth of
the Gamma Knife market in the region. According to WHO, Europe
accounts for only one-eighth of the world’s population. However,
the region records around a quarter of global cancer cases. Several
government associations, such as the Women Against Lung Cancer in
Europe (WALCE) and European Head and Neck society (EHNS), are trying
to increase awareness about breast cancer, lung cancer, and head and
neck cancer and their brain metastases effects in Europe.
However, Asia represents the fastest growing region in the Gamma
Knife market due to the rise in cancer patients in various countries
such as India, China, and Japan. According to WHO, the occurrence of
cancer in India and China is set to climb at a rate of 78% from 2013
to 2030. In addition, growing aging population is also supporting the
growth of the Gamma Knife market in the region.
In Latin America, construction of manufacturing and research
facilities by many companies is driving the Gamma Knife market in
Latin America. Furthermore, the governments of Latin American
countries have recognized the growing epidemic of cancer and are
actively devising several patient awareness programs to raise
awareness of signs and symptoms of cancer, including brain cancers.
Elekta AB, Varian Medical Systems, Inc., and Hokai are some of the
leading players in the Gamma Knife market. Other major players in the
Gamma Knife market include Huiheng Medical, Inc., Cyber Medical
Corporation Limited, Masep Infini Global, Inc., Nordion, Inc., ET
Medical Group, and American Shared Hospital Services.
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