Gamma Knife Market

Gamma Knife Market to Reach a Valuation of USD 651,241.9 thousand by 2020
According to a new market report published by Persistence Market Research “Global Market Study
on Gamma Knife: Asia to Witness Highest Growth by 2020,” the global Gamma Knife market is
valued at USD 526,733.2 thousand in 2014 and is expected to grow at a CAGR of 3.6% from 2014
to 2020 to reach an estimated value of USD 651,241.9 thousand in 2020.
Radiation therapy is a procedure entailing the precise delivery of high doses of radiation to tumors
and other relevant anatomical targets. Gamma Knife radiosurgery is a major form of radiation
therapy. It is mainly used to treat brain tumors, arteriovenous malformations, trigeminal neuralgia,
acoustic neuroma, and pituitary tumors. Globally, the Gamma Knife market is witnessing
significant growth due to increasing prevalence of cancer and obesity and growing aging
population. In addition, rising number of initiatives undertaken by various government associations
and the advanced features of Gamma Knife systems are also driving the growth of the market.
However, stringent regulatory requirements and prolonged approval time for Gamma Knife systems
and a high cost of implementation and shortage of skilled manpower inhibit the growth of the
market. The global Gamma Knife market is anticipated to grow from an estimated USD 526,733.2
thousand in 2014 to USD 651,241.9 thousand by 2020 at a CAGR of 3.6% during the forecast
period.
In North America, the Gamma Knife market is growing due to the rising incidence of cancer in the
region. In addition, increased awareness about Gamma Knife technology for cancer treatment is
also boosting the growth of the market in the region. According to WHO, approximately 2.8 million
people had cancer, including brain cancer, in the U.S. in 2000. Moreover, according to the Hindawi
Publishing Corporation, an international journal of surgical oncology, approximately 98,000 to
170,000 new brain metastases cases occur every year in North America.
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In Europe, increasing prevalence of cancer is boosting the growth of the Gamma Knife market in
the region. According to WHO, Europe accounts for only one-eighth of the world’s population.
However, the region records around a quarter of global cancer cases. Several government
associations, such as the Women Against Lung Cancer in Europe (WALCE) and European Head and
Neck society (EHNS), are trying to increase awareness about breast cancer, lung cancer, and head
and neck cancer and their brain metastases effects in Europe.
However, Asia represents the fastest growing region in the Gamma Knife market due to the rise in
cancer patients in various countries such as India, China, and Japan. According to WHO, the
occurrence of cancer in India and China is set to climb at a rate of 78% from 2013 to 2030. In
addition, growing aging population is also supporting the growth of the Gamma Knife market in the
region.
In Latin America, construction of manufacturing and research facilities by many companies is
driving the Gamma Knife market in Latin America. Furthermore, the governments of Latin
American countries have recognized the growing epidemic of cancer and are actively devising
several patient awareness programs to raise awareness of signs and symptoms of cancer, including
brain cancers.
Elekta AB, Varian Medical Systems, Inc., and Hokai are some of the leading players in the Gamma
Knife market. Other major players in the Gamma Knife market include Huiheng Medical, Inc.,
Cyber Medical Corporation Limited, Masep Infini Global, Inc., Nordion, Inc., ET Medical Group,
and American Shared Hospital Services.
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According to a new market report published by Persistence Market Research “Global Market Study on Gamma Knife: Asia to Witness Highest Growth by 2020,” the global Gamma Knife market is valued at USD 526,733.2 thousand in 2014 and is expected to grow at a CAGR of 3.6% from 2014 to 2020 to reach an estimated value of USD 651,241.9 thousand in 2020.

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