According to analysts at Zion Market Research, the global gamma knife market is expected to witness a significant growth of 7.2% CAGR during the forecast period 2020–2026. The rise in market development is attributed due to the augmenting cases of brain tumors, cancer, neurological disorders, and rising geriatric population. The gamma knife is a very sophisticated radiation therapy for cancer treatment in children & adults. Gamma knife is a beam of extremely focused gamma rays to accurately destroy or cut the damaged or tumor cells, usually in the brain causing slight or no damage to the nearby normal cells. Gamma knife technology is utilized to cure trigeminal neuralgia, medium brain tumors, nerve disorders that cause chronic pain, abnormal blood vessel formations (arteriovenous malformations), epilepsy, and other neurological conditions.
Some of the key players in the market are Varian Medical Systems, Elekta, Nordion Inc., Huiheng Medical, Inc., American Shared Hospital Services, and ET Medical Group.
Increasing Technological Development & Incidence Of Neurological Disorders To Boost The Global Gamma Knife Market
The augmenting incidence of neurological disorders and the increasing geriatric population globally are the major growth drivers for the global market. Additionally, the technological development in radiosurgery systems as well as gamma knife, and programs taken by various administration associations to elevate awareness concerning therapeutic use of radiation therapy systems for the treatment of brain tumors are also impelling the expansion of the global gamma knife market. Regarding therapeutic applications, the brain metastases hold the maximum share in the global market. The strict policies for the authorization of the gamma knife system and high set up & maintenance charges are some of the factors that are limiting the development of the global gamma knife market. Furthermore, the lack of trained healthcare professionals to activate a gamma knife, perils of side-effects linked with radiological elements, and lack of consciousness in relation to the therapeutic use of gamma knife are also impacting the development of the global gamma knife market, particularly in the emerging countries.
The global gamma knife market is bifurcated on the basis of application, anatomy, and regional analysis. Based on the application, the market is divided into trigeminal neuralgia, arteriovenous malformations, brain metastases, and brain tumors. Based on the anatomy, the market is divided into neck, head, and others.
The Asia Pacific Region Predicted To Register Maximum Share In The Global Gamma Knife Market
Based on geographical analysis, the global gamma knife market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The market across Asia Pacific region is growing with a noteworthy rate due to advanced healthcare infrastructure and surging incidence of neurological disorders in the region. The emerging countries, such as Japan, India, and China are the key markets for gamma knife across the region. Latin America is also another major market for gamma knife. This is owing to surging research & development investments in the production of radiosurgery equipment in the low production cost. Brazil holds the maximum share in the gamma knife market across the Latin America region due to the improving healthcare infrastructure in the country and the surging prevalence of cancer.
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The global gamma knife market is segmented as follows:
- Brain Tumors
- Arteriovenous Malformations
- Trigeminal Neuralgia
- Brain Metastases
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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