Increasing prevalence of neurological disorders and preference for non-invasive treatment are driving adoption of Gamma Knife in healthcare centres globally. The global Gamma Knife market is expected to reach US$ 187 million in revenues by 2016, up from an estimated US$ 172 million in 2015.
The global radiation therapy equipment market was estimated to be worth US$ 4.6 billion in 2013. By 2020, demand for radiation therapy equipment market is expected to reach US$ 6.95 billion. Stereotactic radiation therapy, which comprises Gamma- and Cyber- Knife, represented 10% share of the total radiation therapy equipment sold in 2013. Adoption of radiation therapy equipment is expected to provide an impetus to the Gamma Knife market.
Gamma Knife is used in the treatment of brain metastasis, arteriovenous malformation, cancer, and trigeminal neuralgia. Use of Gamma Knife in treating brain metastasis currently accounts for the bulk of demand. Use of Gamma Knife in treating brain metastasis accounted for nearly 68.4% of the total revenues in 2014.
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North America Largest Market for Gamma Knife
Demand for Gamma Knife is highest in North America, followed by Europe and Asia Pacific.
The North America Gamma Knife market is expected to reach US$ 53.3 million in 2016, up from an estimated US$ 49.7 million in 2015. Adoption of Gamma Knife is robust in the US; recently seven medical centres, including Roswell Park Cancer Institute (Buffalo, New York), The University of Texas MD Anderson Cancer Center (Houston, Texas), and Gamma Knife of Spokane (Spokane, Washington) ordered Leksell Gamma Knife® Icon™. Opening of a new Gamma Knife facility at the University of Alberta hospital in Canada is also expected to raise awareness about non-invasive treatment option and provide an impetus to the Canada Gamma Knife market.
Demand for Gamma Knife equipment in Europe is expected to surpass US$ 50 million by 2016. Healthcare centres in the UK and Germany are at the forefront of buying Gamma Knife for treating brain tumours. In July this year, three healthcare centres — The Leeds Gamma Knife Centre at St James’s Institute of Oncology (Leeds, UK), Bristol Gamma Knife Centre, University Hospitals Bristol NHS Foundation Trust (Bristol, UK), and University Medical Centre Mannheim (UMC, Mannheim, Germany) – placed order for Leksell Gamma Knife® Icon™.
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The Asia Pacific Gamma Knife market is expected to expand at a CAGR of over 10% to reach a valuation of US$ 131.5 million by 2025. Many countries in Asia Pacific are developing their cities into medical tourism hubs. Owing to this, adoption of Gamma Knife is gaining traction with government and private players placing orders for the equipment.
Stockholm, Sweden based Elekta AG and California, U.S. based Varian Medical Systems, Inc. are the dominant players in the global Gamma Knife market.