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.
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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.
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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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