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. In Gamma Knife surgery, specialized equipment focuses close to 200 tiny beams of radiation on a tumor or other targeted cells. These beams deliver strong doses of radiation to targeted tumor cells with refined precision. This effectively means that surrounding healthy tissues are exposed to minimal or no radiation whatsoever.
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 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.
North America is the largest region and Asia represents the fastest growing region in the Gamma Knife market. In terms of application, brain metastases represent the largest and fastest growing segment of this market.
The North American Gamma Knife market is anticipated to grow from an estimated USD 217,115.5 thousand in 2014 to USD 269,995.5 thousand by 2020 at a CAGR of 3.7% during the forecast period.
The global brain metastases are estimated at USD 360,610.2 thousand in 2014 and is expected to reach USD 448,903.1 thousand by 2020, growing at a CAGR of 3.7% during the forecast period.
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Some of the major players in the Gamma Knife market:
- Elekta AB.
- Varian Medical Systems, Inc.
- Huiheng Medical, Inc.
- Cyber Medical Corporation Limited.
- Masep Infini Global, Inc.
- Nordion, Inc.
- ET Medical Group.
- American Shared Hospital Services.
These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability, and financial overview.