The stereotactic surgery devices market is expected to increase at a 4.1% CAGR from 2023 to 2033, from US$ 26.34 billion in 2023 to US$ 39.36 billion in 2033.
Disease Prevalence is Increasing as a Result of Changing Lifestyles
The products and solutions provided by the worldwide stereotactic surgery devices market manufacturers and participants enable surgical procedures such as biopsy, injection, implantation, radiosurgery, ablation, lesion, and stimulation. Because of the non-invasive or minimally invasive nature of the surgical operations offered by these solutions, items in the worldwide stereotactic surgery devices market are in high demand among medical professionals all over the world.
Proton beam, gamma knife, and LINAC or line accelerator machines are the most important types of equipment offered by manufacturers and sellers in the landscape of the worldwide stereotactic surgery devices market. Among the key applications for these items in the worldwide stereotactic surgery devices market are the treatment of arteriovenous malformations, epilepsy, trigeminal neuralgia, brain tumour treatment, and Parkinson's disease.
| Report Attribute | Details |
|---|---|
| Stereotactic Surgery Devices Market Value (2023) | US$ 26.34 billion |
| Stereotactic Surgery Devices Market Anticipated Value (2033) | US$ 39.36 billion |
| Stereotactic Surgery Devices Market Growth Rate (2023 to 2033) | 4.1% CAGR |
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The stereotactic surgery devices market accounted for US$ 25.30 billion in 2022, expanding at a 3.7% CAGR from 2018 to 2022.
It is a minimally invasive procedure that uses a coordinate system to pinpoint small targets within the body. Factors propelling the expansion of the stereotactic surgery devices market are
The lack of alternative therapies has increased the demand for stereotactic surgery devices. High initial setup costs and the presence of a tight regulatory environment are factors limiting market expansion.
| Historical CAGR (2018 to 2022) | 3.7% |
|---|---|
| Forecast CAGR (2023 to 2033) | 4.1% |
As per the FMI analysts, a valuation of US$ 39.36 billion by 2033 end is estimated for the market.
| Year | Market Valuation |
|---|---|
| 2016 | US$ 19.88 billion |
| 2021 | US$ 24.31 billion |
| 2022 | US$ 25.30 billion |
| 2023 | US$ 26.34 billion |
| 2033 | US$ 39.36 billion |
Some of the most significant drivers for the growth of the global stereotactic surgery devices market are
The scarcity of substitute treatment alternatives has increased demand for the devices and equipment offered by manufacturers and players in the worldwide stereotactic surgical devices market. The high cost of the initial setup of this high-value equipment, as well as the presence of tight regulatory standards and government laws, may impede growth in the global stereotactic surgery devices market in the approaching years.
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The rising incidence of brain and spinal cord tumours is one of the crucial reasons influencing the growth of the stereotactic surgical devices market. According to the International Agency for Research on Cancer and the World Health Organization's GLOBOCAN study, almost 308,102 new cases of brain and central nervous system malignancies were recorded worldwide in 2020.
Brain tumours can be fatal and are frequently treated using stereotactic surgery, which employs linear particle accelerators and proton beam therapy, among other techniques. As a result, the rising prevalence of brain and CNS malignancies is expected to drive demand for stereotactic surgery products. Consequently, it leads to the growth of the stereotactic surgery devices market over the forecast period.
The increased prevalence of movement disorders such as Parkinson's disease is fuelling the need for stereotactic surgery instruments. The International Parkinson and Movement Disorders Society predicts that 9.4 million people worldwide went through Parkinson's disease in 2020.
In patients with complaints of tremors associated with movement problems, where pharmaceutical treatments have not been successful in treating the symptoms, stereotactic radiosurgery is regarded as the treatment of choice. As a result, the expanding Parkinson's disease patient population may result in a large demand for stereotactic surgical equipment, supporting the stereotactic surgery devices market growth throughout the projection period.
Benefits associated with these devices, such as the ability to target surgically inaccessible lesions, are projected to contribute to the expansion of the worldwide stereotactic surgery devices market. Severe regulatory criteria for product approvals and expensive gadget costs may limit the growth of the stereotactic surgery devices market.
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North America is predicted to account for the high proportion of the stereotactic surgery devices market among all regions. North America stereotactic surgery devices market is expected to grow due to key growth factors such as
Modern healthcare infrastructure, high disposable income, new product approvals, and increased awareness are a few more factors that contributed to the expansion of this region's market.
The increased prevalence of diseases such as lung cancer is one of the primary factors driving the growth of the United States’ stereotactic surgical instruments market. According to the American Cancer Society, roughly 235,760 new instances of lung cancer and around 131,880 deaths from lung cancer are expected in the country in 2021.
For individuals who cannot opt for surgery due to age, lung disease, or heart illness, stereotactic radiosurgery is the recommended therapy approach for lung cancer. As a result, the presence of a large patient population suffering from lung cancer correlates to several people opting for stereotactic radiosurgery due to its minimally invasive nature, which influences demand for stereotactic surgery devices. It further results in growing product demand and supports the growth of the United States stereotactic surgery devices market.
Asia Pacific, on the other hand, is expected to see considerable growth in the stereotactic surgery market due to ongoing healthcare infrastructure development and increased government spending in research & development, as well as increased awareness of innovative treatment methods.
Asia Pacific accounted for the second largest market share due to the growing senior population, high cancer prevalence, and rapidly growing healthcare tourism. Asia Pacific dominates the market because of the region's high cancer prevalence, availability of modern therapy, and well-developed healthcare infrastructure.
The LINAC sector led the market in terms of volume due to its high adoption and installation rate. The widespread use of LINAC is due to its great efficacy in treating afflicted areas with a large dose of radiation while posing a low risk of damage to healthy cells. Decreased surgical pain is also increasing its popularity over traditional radiotherapies. Furthermore, some organisations are conducting public awareness efforts to educate people about new technology and its benefits. The elements are anticipated to contribute to the segment's growth.
The CyberKnife segment, on the other hand, is expected to develop significantly during the projected period due to the increasing use in developing nations. Target specificity with a high dose of radiation, continuous imaging, and complete automation are some of the clinical benefits of CyberKnife. These benefits are expected to supplement the segment's growth over the projection period. Furthermore, new cyber knife product introductions by prominent companies are further propelling segment growth.
With the rapidly increasing cases of lung cancer, the lung segment is likely to rise significantly throughout the projection period. A growing number of smokers is the big cause of lung cancer, which is also contributing significantly to the expansion of this market. According to a CDC paper published in October 2022, cigarette smoking is responsible for 80% to 90% of lung cancer fatalities in the United States. Other tobacco products, such as pipes or cigars, also raised the risk of lung cancer as well.
The breast category accounted for a significant market share of 24.2% in 2022 due to the high frequency of breast cancer in comparison to other malignancies,. Breast cancer is the most often diagnosed cancer among American women, according to the American Cancer Society. In 2022, breast cancer accounted for 30% of newly diagnosed tumours in women. It is not only the most frequent cancer in America but also in the world, accounting for around 12.5% of all new cancer cases each year.
The leading manufacturers in the stereotactic surgery devices sector are working on various strategic efforts such as alliances, acquisitions, and growth to increase their market share. Partnerships and collaborations are also being leveraged by key players to improve their product and service offerings.
Elekta, for example, extended its relationship with Philips in June 2021 to shorten the route from cancer diagnosis to survivorship for improved outcomes. Key players are also attempting to maintain their market dominance by launching technologically advanced items. Elekta acquired a CE mark for their new radiosurgery system, Elekta Esprit, in November 2022.
| Attribute | Details |
|---|---|
| Market Size Value In 2023 | US$ 26.34 billion |
| Market Size Value in End of Forecast (2033) | US$ 39.36 billion |
| Market Analysis | US$ billion for Value |
| Key Region Covered | North America; Europe; Asia Pacific; Latin America; The Middle East & Africa |
| Key Segments | By Product, By Application, By Region |
| Key Companies Profiled | Koninklijke Philips N.V.; Hitachi Medical Systems; Huiheng Group; Siemens Ag; Elekta AB; Varian Medical Systems; IBA; Accuray Incorporated |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is valued at US$ 26.34 billion in 2023.
Koninklijke Philips N.V., Hitachi Medical Systems, and Huiheng Group are the key market players.
LINAC is the key segment in the stereotactic surgery devices market.
The market registered a 3.7% CAGR over the historical period from 2018 to 2022.
The global market is expected to reach US$ 39.36 billion in 2033.
1. Executive Summary | Stereotactic Surgery Devices Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Product, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Product, 2023 to 2033 5.3.1. Gamma Knife 5.3.2. Line accelerator (LINAC) machines 5.3.3. PBRT 5.3.4. Proton beam 5.4. Y-o-Y Growth Trend Analysis By Product, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Product, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Application, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application, 2023 to 2033 6.3.1. Liver 6.3.2. Breast 6.3.3. Prostate 6.3.4. Lung 6.3.5. Colon 6.3.6. Others 6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022 7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. South Asia 7.3.5. East Asia 7.3.6. Oceania 7.3.7. MEA 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 8.2.1. By Country 8.2.1.1. USA 8.2.1.2. Canada 8.2.2. By Product 8.2.3. By Application 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Product 8.3.3. By Application 8.4. Key Takeaways 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Product 9.2.3. By Application 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Product 9.3.3. By Application 9.4. Key Takeaways 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. United kingdom 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Europe 10.2.2. By Product 10.2.3. By Application 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Product 10.3.3. By Application 10.4. Key Takeaways 11. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. India 11.2.1.2. Malaysia 11.2.1.3. Singapore 11.2.1.4. Thailand 11.2.1.5. Rest of South Asia 11.2.2. By Product 11.2.3. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Product 11.3.3. By Application 11.4. Key Takeaways 12. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. China 12.2.1.2. Japan 12.2.1.3. South Korea 12.2.2. By Product 12.2.3. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Product 12.3.3. By Application 12.4. Key Takeaways 13. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. Australia 13.2.1.2. New Zealand 13.2.2. By Product 13.2.3. By Application 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Product 13.3.3. By Application 13.4. Key Takeaways 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of MEA 14.2.2. By Product 14.2.3. By Application 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Product 14.3.3. By Application 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2022 15.1.2.1. By Product 15.1.2.2. By Application 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2022 15.2.2.1. By Product 15.2.2.2. By Application 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2022 15.3.2.1. By Product 15.3.2.2. By Application 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2022 15.4.2.1. By Product 15.4.2.2. By Application 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2022 15.5.2.1. By Product 15.5.2.2. By Application 15.6. United kingdom 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2022 15.6.2.1. By Product 15.6.2.2. By Application 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2022 15.7.2.1. By Product 15.7.2.2. By Application 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2022 15.8.2.1. By Product 15.8.2.2. By Application 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2022 15.9.2.1. By Product 15.9.2.2. By Application 15.10. India 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2022 15.10.2.1. By Product 15.10.2.2. By Application 15.11. Malaysia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2022 15.11.2.1. By Product 15.11.2.2. By Application 15.12. Singapore 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2022 15.12.2.1. By Product 15.12.2.2. By Application 15.13. Thailand 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2022 15.13.2.1. By Product 15.13.2.2. By Application 15.14. China 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2022 15.14.2.1. By Product 15.14.2.2. By Application 15.15. Japan 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2022 15.15.2.1. By Product 15.15.2.2. By Application 15.16. South Korea 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2022 15.16.2.1. By Product 15.16.2.2. By Application 15.17. Australia 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2022 15.17.2.1. By Product 15.17.2.2. By Application 15.18. New Zealand 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2022 15.18.2.1. By Product 15.18.2.2. By Application 15.19. GCC Countries 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2022 15.19.2.1. By Product 15.19.2.2. By Application 15.20. South Africa 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2022 15.20.2.1. By Product 15.20.2.2. By Application 15.21. Israel 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2022 15.21.2.1. By Product 15.21.2.2. By Application 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Product 16.3.3. By Application 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. Koninklijke Philips N.V. 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.2. Hitachi Medical Systems 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.3. Huiheng Group 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.4. Siemens Ag 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.5. Elekta AB 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.6. Varian Medical Systems 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.7. Accuray Incorporated 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.8. IBA Proton therapy 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.9. Raysearch Laboratories 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.10. Modus Medical Devices 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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Stereotactic Surgery Devices Market
