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
