Radiosurgery Systems Market to Reach $3.98 Bn, Globally, by 2031 at 6.7% CAGR: Allied Market Research

Increase in the number of chronic diseases such as cancer, technological advancements in the healthcare sector, and rise in product launches as well as product approvals for radiosurgery systems drive the growth of the global radiosurgery systems market.

PORTLAND, Ore., Aug. 25, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Radiosurgery Systems Market by Type (Gamma Knife system, Linear accelerator systems, Proton beam therapy), by Condition (Brain Tumors, Spine Tumors), by End User (Hospitals, Academic and Research institute): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global radiosurgery systems industry was estimated at $2.10 billion in 2021, and is anticipated to hit $3.98 billion by 2031, registering a CAGR of 6.7% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chain, competitive scenario, and regional landscape. The market study is exclusively meant to help the readers with a complete valuation of industry analysis and trends.

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Determinants of growth-

Increase in the number of chronic diseases such as cancer, technological advancements in the healthcare sector, and rise in product launches as well as product approvals for radiosurgery systems drive the growth of the global radiosurgery systems market. Moreover, surge in adoption of key strategies such as collaboration, agreement, acquisition, and business expansion by the radiosurgery industry has been beneficial for the market.

Covid-19 scenario-

• The majority of radiotherapy cases were either postponed or rescheduled due to conversion of surgical centers into Covid hospitals.
• Thus, it caused scarcity of PPE kits for other surgical processes which impeded the market growth. At the same time, decrease in the number of diagnostic and investigation tests for cancer had a negative impact on the market.

Scope of the Report: -

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The gamma knife system segment to dominate by 2031-

By type, the gamma knife system segment contributed to nearly three-fifths of the global radiosurgery systems market share in 2021, and is expected to lead the trail by 2031. The same segment is also anticipated to portray the fastest CAGR of 7.0% during the forecast period, due to rapid adoption of gamma knife radiosurgery as effective treatment option.

The brain tumors segment to maintain the lion's share-

Based on condition, the brain tumors segment generated more than four-fifths of the global radiosurgery systems market revenue in 2021, and is expected to lead the trail by 2031. The same segment would also manifest the fastest CAGR of 6.8% from 2022 to 2031. This is attributed to rise in the prevalence of brain tumor and brain cancer, technological advancements in the healthcare sector, and increase in awareness among people regarding importance of health.

The hospitals segment to lead the trail-

Based on end-user, the hospitals segment held around four-fifths of the global radiosurgery systems market revenue in 2021. Simultaneously, the same segment would also garner the fastest CAGR of 6.9% during the forecast period. This is due to rise in the number of hospitals and increase in the number of chronic diseases.

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North America garnered the major share in 2021-

Based on region, North America held the major share in 2021, generating more than two-thirds of the global radiosurgery systems market. Increase in the number of research activities, technological advancements in the healthcare sector, rise in the prevalence of chronic diseases, and presence of key players drive the market growth. The Asia-Pacific region, on the other hand, would garner the fastest CAGR of 7.5% by 2031. Surge in expenditure by government organizations to develop the healthcare sector, surge in prevalence of chronic diseases, and rise in the geriatric population fuel the market growth.

Key players in the industry-

• Elekta AB (Innovator)
• Avocure
• Brain LAB
• Integra Life Sciences Holding Corp
• Ion Beam Applications SA
• Accuray Incorporated
• ZAP surgical System Inc.
• Medtronic
• Mevion Medical Systems, Inc.
• Nordion Inc.
• Reflexion Medical
• Siemens (Varian Medical Systems)
• Atrium Health
• Summit Cancer Centers
• ViewRay
• Xcision Medical Systems
• Vision RT

The report analyzes these key players in the global radiosurgery systems market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.

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