Stereotactic Radiation Therapy Market

on-surgical personalized treatment option to boost the global market

The global stereotactic radiation therapy market was valued at USD 3.7 Billion in 2022 and is expected to reach USD 7.9 Billion by 2033. The linear accelerator radiosurgery systems with around 68.9% value share, has topped the global market within the product category in 2022 and is expected to grow at a CAGR of close to 7.3% over the forecast period (2023 to 2033)

Market Outlook:

Data Points	Market Insights
Market Value 2022	USD 3.7 Billion
Market Value 2023	USD 3.9 Billion
Market Value 2033	USD 7.9 Billion
CAGR 2023 to 2033	7.3%
Market Share of Top 5 Countries	62.6%
Key Market Players	Mevion Medical Systems, Inc., Accuray Incorporated, MASEP Medical Science & Technology Development (Shenzhen) Co, Akesis, Inc., Elekta, Hitachi, Ltd. (Mitsubishi Electric Corporation), Siemens Healthineers AG (Varian Medical Systems, Inc.), Ion Beam Applications, ProTom International, Pronova Solutions, Sumitomo Heavy Industries, Ltd., Provision Cares, Optivus Proton Therapy Inc., Advanced Oncotherapy, Sun Nuclear Corporation, and B dot Medical Inc. (partnered with Toshiba)

The treatment of functional disorders and tiny brain tumors with stereotactic radiosurgery (SRS), a non-surgical radiation therapy has been growing rapidly. In comparison to conventional therapy, it can administer precisely focused radiation in fewer high-dose treatments, helping to maintain healthy tissue. Stereotactic body radiation (SBRT) is the name of the procedure utilised for the treatment of body tumors using SRS.

Small brain tumors and other abnormalities in function of the brain were the original target conditions for the development of stereotactic radiosurgery (SRS), a very precise radiation therapy technique. Stereotactic body radiotherapy (SBRT) is a technique used to treat body tumors that uses the same concepts as cranial SRS, namely precise radiation with delivery accuracy to within one to two millimetres.

Sales Analysis of Stereotactic Radiation Therapy Market from 2017 to 2022 Vs Market Outlook for 2023 to 2033

The global market for stereotactic radiation therapy (SRT) was around 55.3% of the overall USD 6.6 Billion of the global radiation therapy market in 2022.

The rapid advancement of technology in the radiation therapy segment in recent years has pushed the expansion of the SRT market. The rising prevalence of cancer disorders and the growing geriatric population is driving the growing need for rapid improvement in SRT technology around the world.

The growing research for development of cost-effective stereotactic radiotherapy, and increasing awareness regarding radiotherapy are few other growth drivers increasing the demand for stereotactic radiation therapy. Globally, radiation therapy is the treatment of choice for over 7 out of 10 patients with cancers of the breast, head and neck, lung or oesophagus

There is a huge demand for radiation therapy systems in low and middle income countries as cancer kills more population than HIV, TB and malaria combines. This affects the lives of patients and their families with huge physical, emotional and financial crisis.

• As per the insights by American Society of Clinical Oncology (ASCO)-2023, in United States, around 14 thousand men and 10 thousand women are estimated to be diagnosed with brain and spinal cord cancer in 2023. Further, more than 5 thousand children under 20 years are likely to be diagnosed with CNS tumor.

Increase in cancer cases and the sophistication of new treatment protocols drives the market for newly developed automated SRT systems which makes treatment rapid and cost-effective.

Owed to the above factors, the global market is projected to grow at CAGR of 7.3% in forecasted period.

What Factors drive the Global Market for Stereotactic Radiation Therapy Systems?

For several decades, lung cancer has been the most frequent cancer in the world.

• According to the American Society of Clinical Oncology-2020, around 2,206,771 persons were diagnosed with lung cancer worldwide in 2020.

In a study conducted at the Markey Cancer Centre in 2021, stereotactic body radiation therapy (SBRT) was utilized for persons with stage I or stage II lung cancer who are not adequate for surgical procedure. Because X-rays are well focused and healthy tissue receives relatively little radiation, SBRT side effects are rare. This non-surgical therapy option with less side effects of the SBRT is enticing patients and clinicians to use it.

Stereotactic radiation therapy provides good tumor control rates while delivering precise doses. In comparison to conventional radiation therapy, it allows for larger radiation doses to be provided in fewer treatment sessions. This leads to better outcomes, such as higher tumor control rates and higher survival rates for some malignancies. The possibility of shorter treatment sessions and fewer side effects leads to the growing use of stereotactic radiation therapy.

Stereotactic radiation therapy is a non-invasive or minimally invasive therapeutic option that, in some situations, avoids the need for surgery. It can be used to treat both primary and metastatic tumors, offering a non-invasive alternative to invasive methods. Stereotactic radiation therapy is appealing to patients and physicians due to its ability to deliver targeted radiation without requiring open surgery.

All the above factors are expected to contribute as the driving forces for the market growth over forecast period.

What are the Factors Restraining the Demand for the Stereotactic Radiation Therapy?

Moving targets, such as tumors impacted by respiration or other physiological motion, can be difficult to target and track accurately in stereotactic radiation therapy. Techniques such as respiratory gating or tumor tracking may be used to solve this issue, but they complicate the treatment process and necessitate more resources.

Stereotactic radiation therapy necessitates extensive technical knowledge and specialised training. SRT's success is dependent on accurate treatment planning, target localization, and precision radiation delivery. Because of the complexities of the therapy procedure, trained radiation oncologists, medical physicists, and dosimetrists are required, which can be a constraint in some circumstances.

While stereotactic radiation therapy has demonstrated excellent short-term outcomes, there is a need for more long-term data on its effectiveness and potential late toxicities. Long-term follow-up studies are essential to evaluate the durability of tumor control and the impact on patient survival and quality of life. The limited availability of long-term data may influence decision-making and adoption of SRT in certain scenarios.

Country-wise Insights

Why is USA a Prominent Market for Stereotactic Radiation Therapy in North America Region?

The USA occupies 33.7% of market share in 2022 globally. The growing prevalence of cancer and the need for effective treatment choices drive the demand for sophisticated radiation therapy techniques like stereotactic radiation therapy. As the incidence of cancer rises, so does the demand for precise and focused therapies such as stereotactic radiation therapy.

• According to the American Cancer Society, 1.9 million additional cancer cases are projected in the United States in 2023.

These factors, together with continuous research and clinical trials, continue to promote stereotactic radiation therapy's adoption and development as a key treatment technique in oncology and other medical sectors.

What Makes China a Highly Lucrative Market for Stereotactic Radiation Therapy?

China expenditure on stereotactic radiation therapy in 2022 was USD 272.8 Million.

China approaches healthcare collaboratively, with substantial relationships between hospitals, research institutions, and industrial players.

• For example, in March 2023, China National Pharmaceutical firm Corp (Sinopharm), a State-owned healthcare firm, announced a joint venture deal with Elekta, a Swedish medical equipment manufacturer, to manufacture radiation equipment in China.

Ongoing SRT research and clinical trials help to enhance the evidence base and improve treatment methods. The good findings of these research are driving the use of SRT in clinical practise.

What Makes the Germany a Large Market for Stereotactic Radiation Therapy?

In 2022, the Germany held a significant share in the global market and contributed around USD 318.1 Million. Germany has a well-developed healthcare system that includes cutting-edge medical facilities, hospitals, and research institutes. The availability of cutting-edge radiation treatment equipment and expertise facilitates the country's extensive adoption of SRT. Germany lays a great emphasis on providing patients with least invasive treatment choices. SRT is an outpatient, non-invasive technique that delivers very precise radiation to tumors, minimising the need for open surgery. The demand for non-invasive treatments corresponds to the expansion of the SRT market in Germany.

Germany is well-known for its medical technical breakthroughs. SRT has become more precise and effective as better imaging devices, treatment planning software, and real-time tumor tracking technologies have been developed and adopted. These technical improvements aid in the expansion of the SRT market in Germany.

Category-wise Insights

Which Technology is Predicted to Expand Rapidly Between 2023 and 2033?

By technology, linear accelerator radiosurgery systems held 68.9% market share in world in 2022.

A linear accelerator radiation therapy tailors high-energy radiation such as x-rays or electrons to conform to the contour of a tumor to damage cancer cells while preserving normal tissue in the surrounding area. It has numerous built-in safety safeguards to ensure that it delivers the correct dose and is frequently examined by a medical physicist to confirm that it is functioning properly. This precise treatment use of technology is helping these therapies gain popularity.

Why Molecular Weight is Preferred Prominently in Stereotactic Radiation Therapy?

CNS cancer held 24.5% market share in 2022 globally.

SRS reduces the risk of haemorrhage, infection, and anaesthesia associated with surgery. It is an outpatient procedure that involves little interruption of other therapies, like as chemotherapy. The outcomes of SRS for brain metastases or other CNS malignancies appear to be comparable to those of surgery to remove the tumor. This is the rationale for the widespread use of these technologies in CNS cancer treatment around the world.

Which End User is Benefiting the Global Market?

The hospitals have a considerable presence in the stereotactic radiation therapy market, accounting for 42.2% value share in 2022, and exhibit a high CAGR of 6.2% over the forecast period. The increased use of SRT in hospitals is a result of more data generated during cancer diagnosis and treatment, as well as increased patient visits globally each year. Increasing government initiatives aimed at providing hospitals with cutting-edge technology are a few of the factors driving this market's expansion.

Competitive Landscape

Collaboration in research & development, and commercialization to expand market and create technologically advanced systems with new-edge applications are key strategies adopted by key players. Numerous large firms compete in the field of stereotactic radiation therapy. Among the well-known players in this field are:

• Oct. 2022, The MEVION S250-FIT Proton Therapy System with HYPERSCAN Pencil Beam Scanning (PBS) has been introduced by Mevion Medical Systems. The technology will be designed and installed for the first time at Stanford Health Care.
• May 2023, At the ESTRO convention in Vienna, Austria, from May 12 to 16, 2023, Varian, a Siemens Healthineers company, will highlight its comprehensive cancer care solutions, which include cutting-edge imaging, radiation therapy, software, and services.

Similarly, recent developments related to the company’s manufacturing the stereotactic radiation therapy systems have been tracked by the team at Future Market Insights, which are available in the full report.

Report Scope as Per Stereotactic Radiation Therapy Industry Analysis

Attribute	Details
Forecast Period	2023 to 2033
Historical Data Available for	2017 to 2022
Market Analysis	USD Million for Value, Units for Volume
Key Regions Covered	North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East and Africa (MEA)
Key Countries Covered	USA, Canada, Brazil, Mexico, Argentina, Germany, Italy, France, UK, Spain, BENELUX, Russia, Nordics, China, Japan, South Korea, India, Indonesia, Thailand, Philippines, Vietnam, Malaysia, Australia, New Zealand, GCC countries, Türkiye, Israel, Northern Africa and South Africa.
Key Market Segments Covered	Technology, Indication, End User, and Region
Key Companies Profiled	Mevion Medical Systems, Inc., Hitachi, Ltd. (Mitsubishi Electric Corporation), Accuray Incorporated, MASEP Medical Science & Technology Development (Shenzhen) Co, Akesis, Inc, Elekta, Siemens Healthineers AG (Varian Medical Systems, Inc.), Ion Beam Applications, ProTom International, Pronova Solutions, Sumitomo Heavy Industries, Ltd., Provision Cares, Optivus Proton Therapy Inc., Advanced Oncotherapy, Sun Nuclear Corporation, B dot Medical Inc. (partnered with Toshiba)
Report Coverage	Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives
Pricing	Available upon Request

Key Market Segments Covered in the Stereotactic Radiation Therapy Industry Research

By Technology:

• Linear Accelerator Radiosurgery Systems
• GammaKnife Radiosurgery Systems
• Proton Beam Therapy
• CyberKnife

By Indication:

• CNS Cancer
• Prostate Cancer
• Head and Neck
• Breast Cancer
• Lung Cancer
• Other

By End User:

• Hospitals
• Imaging Centers
• Cancer Research Centers
• Oncological Treatment Centers

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa

Frequently Asked Questions

What is the Market Size in 2023?

The market is valued at USD 3.9 billion in 2023.

What is the Market Growth Outlook?

The market is likely to register a CAGR of 7.3% from 2023 to 2033.

How Big will be the Market in 2033?

The market is projected to value at USD 7.9 billion in 2033.

What is the Market Share of the Top 5 Countries?

The market share of the top 5 countries is 62.6%.

What Opportunities Await the Market Players?

Technological advancements in radiation therapy are likely to provide a boost to the market.