Stereotactic Surgery Devices Market

Stereotactic Surgery Devices Market Outlook 2023 to 2033

The stereotactic surgery devices market is expected to increase at a 4.1% CAGR from 2023 to 2033, from USD 26.34 billion in 2023 to USD 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)	USD 26.34 billion
Stereotactic Surgery Devices Market Anticipated Value (2033)	USD 39.36 billion
Stereotactic Surgery Devices Market Growth Rate (2023 to 2033)	4.1% CAGR

2018 to 2022 Stereotactic Surgery Devices Market Outlook in Comparison to 2023 to 2033 Growth Forecast

The stereotactic surgery devices market accounted for USD 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 growing need for minimally invasive techniques
• The substitution of levodopa medication with stereotactic surgery
• The rising rates of brain tumours, Parkinson's disease, and epilepsy

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 USD 39.36 billion by 2033 end is estimated for the market.

Year	Market Valuation
2016	USD 19.88 billion
2021	USD 24.31 billion
2022	USD 25.30 billion
2023	USD 26.34 billion
2033	USD 39.36 billion

Less Invasive Stereotactic Radiosurgery and Radiation are Becoming Increasingly Common

Some of the most significant drivers for the growth of the global stereotactic surgery devices market are

• The rising demand for various minimally invasive surgical and medical procedures and novel techniques.
• The growing trend of using stereotactic surgical procedures instead of levodopa therapy.
• The rising incidences of epilepsy, Parkinson's disease, and brain tumours.

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.

The Prevalence of Many Tumors, such as Brain Cancer, is Increasing

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.

Movement Disorders such as Parkinson's Disease are Becoming Common

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.

A Glimpse of Country-wise Insights

North America is likely to Lead the Global Market For Stereotactic Surgery Devices

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

• The rising prevalence of cancers such as lung cancer.
• An increase in the number of cases associated with trigeminal neuralgia.
• The rising government initiatives regarding disease treatment awareness.

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.

Cancer Incidence is Rising in Asia Pacific Region

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.

Category-wise Insights

Linear Accelerators (LINAC) had the High Volume Share in 2022, Owing to their low-cost and Wide Commercial Availability

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.

CyberKnife is Expected to Increase Notably during the Projection Period

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.

The Prevalence of Lung and Breast-related Disorders in the Healthcare Industry is Increasing

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.

Competitive Landscape

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.

Among the Key Companies in the Global Stereotactic Surgery Instruments Market are

• Koninklijke Philips N.V.
• Hitachi Medical Systems
• Huiheng Group
• Siemens Ag
• Elekta AB
• Varian Medical Systems
• IBA
• Accuray Incorporated

Scope of Report

Attribute	Details
Market Size Value In 2023	USD 26.34 billion
Market Size Value in End of Forecast (2033)	USD 39.36 billion
Market Analysis	USD 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

Table of Content

• 1. Executive Summary 
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
• 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product
  • 5.1. Gamma Knife
  • 5.2. Line accelerator (LINAC) machines
  • 5.3. PBRT
  • 5.4. Proton beam
• 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
  • 6.1. Liver
  • 6.2. Breast
  • 6.3. Prostate
  • 6.4. Lung
  • 6.5. Colon
  • 6.6. Others
• 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
  • 7.1. North America
  • 7.2. Latin America
  • 7.3. Europe
  • 7.4. South Asia
  • 7.5. East Asia
  • 7.6. Oceania
  • 7.7. MEA
• 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 11. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 12. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 13. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 15. Key Countries Market Analysis
• 16. Market Structure Analysis
• 17. Competition Analysis
  • 17.1. Koninklijke Philips N.V.
  • 17.2. Hitachi Medical Systems
  • 17.3. Huiheng Group
  • 17.4. Siemens Ag
  • 17.5. Elekta AB
  • 17.6. Varian Medical Systems
  • 17.7. Accuray Incorporated
  • 17.8. IBA Proton therapy
  • 17.9. Raysearch Laboratories
  • 17.10. Modus Medical Devices
• 18. Assumptions & Acronyms Used
• 19. Research Methodology