Stereotactic surgery is a minimally invasive form of surgical intervention, which makes use of three-dimensional coordinate system, in order to locate small targets inside the body. Stereotactic system is also used to perform ablation, biopsy, lesion, injection, stimulation, implantation, radiosurgery (SRS), and others. Stereotaxic surgery is mostly used to locate lesions in the brain and deliver radiation therapy for the treatment of Parkinson’s disease. During radiation therapy, it is used to focus high-intensity radiation on targeted areas to shrink tumors. Stereotactic systems are effective for guiding fine-needle aspiration biopsies of brain lesions.
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Global Stereotactic Systems Market Dynamics- Drivers
Introduction of novel technology in minimally invasive surgery techniques is expected to drive growth of the global stereotactic systems market during the forecast period. For instance, in November 2018, Monteris Medical, published the favorable clinical data for its NeuroBlate Laser Ablation after Stereotactic Radiosurgery (LAASR) for patients with brain metastasis in the Journal of Neurosurgery. The NeuroBlate System is a minimally invasive, robotically controlled laser thermotherapy that uses MRI-guided laser light to ablate unwanted tissue in the brain where the lesion originates. Monteris is exclusively focused on advancing both LITT technology and clinical research to serve the unmet needs of neurosurgeons and their patients.
Furthermore, in December 2017, the U.S. Food and Drug Administration approved GammaPod, new system of Xcision Medical Systems, LLC. GammaPod is a noninvasive stereotactic radiotherapy system intended for treating cancer in breast tissue.
Moreover, in March 2018, Sunway Medical Centre (SunMed), Malaysia’s multi-disciplinary Medical Centre, introduced Leksell Gamma Knife Icon (an advanced radiation machine, which was manufactured by Elekta AB). It is used for the treatment of various neurological disorders and brain conditions that require open brain surgery.
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Global Stereotactic Systems Market Dynamics- Restraints
Risk involved in stereotactic systems is expected to restrain growth of the global stereotactic systems market growth in the near future. For instance, in November 2018, the clinical trial for stereotactic body radiation therapy, sponsored by Case Comprehensive Cancer Center, was terminated due to major side effects while treating patients with advanced head and neck cancer.
Global Stereotactic Systems Market- Regional Analysis
On the basis of region, the global stereotactic systems market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
Among regions, North America is expected to account for the major market share in the global stereotactic systems market during the forecast period. This is owing to presence of many key players in the region. For instance, in March 2016, Monteris Medical, a privately-held company, started developing innovative laser-based MRI-guided neuroablation tools and solutions in its new facility unit in Plymouth, Minnesota. Moreover, growing prevalence of Parkinson’s disease (PD) creates demand for stereotactic systems for treating the disease, which will in turn boost the market growth. For instance, in March 2018, the Parkinson’s Foundation Prevalence Project estimated that about 60,000 Americans are diagnosed with PD each year. This number is predicted to rise to 1.2 million in upcoming years. The combined cost of Parkinson’s disease, including treatment, social security payments, and lost income from inability to work, is estimated to be nearly US$ 25 bn per year in the U.S. alone.
Furthermore, increasing proactive initiatives by healthcare industry to support new projects in order to promote various healthcare startups in the Asia Pacific region is expected to drive growth of the Asia Pacific stereotactic system market. For instance, in October 2018, Asia Pacific Medical Technology Association (APACMed) in partnership with U.S.-based MedTech Innovator, launched MedTech Innovator Asia. The main objective of MedTech Innovator Asia is to accelerate the growth of the most promising medical device, digital health, and diagnostic startups in the Asia Pacific region.
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Competitive Landscape
Key players in the global stereotactic system market include Alliance HealthCare Services, Micromar Ind. e Com. LTDA, adeor Medical AG, Monteris Medical, Elekta AB., and inomed Medizintechnik GmbH.
Global Stereotactic Systems Market Taxonomy
By Equipment Type
- Gamma knife
- Line accelerator (LINAC) machines
- Proton beam
By Applications
- Brain tumor
- Arteriovenous malformations
- Parkinson’s disease
- Epilepsy
- Breast Cancer
By End-User
- Hospital
- Ambulatory surgical centers
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
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