Radiosurgery Market

Market Overview

The global radiosurgery market was valued at USD 2.37 billion in 2023. It is estimated to reach USD 4.14 billion by 2032, growing at a CAGR of 6.4% during the forecast period (2024–2032). In recent years, there has been an increase in the cases of cancer and neurological disorders, which is anticipated to drive the global radiosurgery market growth, as it is a non-invasive or minimally invasive treatment option that can help to treat these diseases. A surge in the geriatric population, which is prone to these diseases, is further estimated to augment the market expansion. Moreover, technological advancements in the radiosurgery field that enhance this procedure's efficacy are expected to create opportunities for global market growth. 

Radiosurgery is a non-invasive medical procedure that uses precisely targeted radiation to treat tumors and other abnormalities in the body. Unlike traditional surgery, radiosurgery does not involve making incisions. Instead, it delivers highly focused radiation beams to the affected area, destroying abnormal tissue while minimizing damage to surrounding healthy tissue. This technique is commonly used to treat brain tumors, arteriovenous malformations (AVMs), trigeminal neuralgia, and other conditions.

Radiosurgery can be delivered through technologies such as Gamma Knife, CyberKnife, or linear accelerators. It offers several advantages, including shorter treatment times, lowered risk of complications, and the ability to treat tumors in delicate or inaccessible locations. Radiosurgery is often preferred for patients who are not suitable candidates for conventional surgery or those seeking a less invasive treatment option.

Highlight

• Hospitals dominate the end-user segment
• North America is the highest shareholder in the global market

Market Dynamics

Global Radiosurgery Market Drivers:

Rising Incidence of Cancer and Neurological Disorders 

The rising incidence of cancer and neurological disorders, such as brain tumors and arteriovenous malformations (AVMs), propels the radiosurgery market growth forward. As these conditions become more prevalent globally, the demand for non-invasive or minimally invasive treatment options increases. Radiosurgery offers a precise and effective solution for such ailments, appealing to patients and healthcare providers seeking advanced therapeutic modalities.

According to WHO, in 2022, there were an estimated 20 million new cancer cases and 9.7 million deaths, which is anticipated to increase by 77% to about 35 million new cancer cases predicted in 2050. Moreover, a major new study released by The Lancet Neurology shows that, in 2021, more than 3 billion people worldwide were living with a neurological condition. This growing patient population underscores the importance of radiosurgery in addressing the evolving healthcare landscape.

Growing Aging Population 

The growing aging population is a significant driver for the radiosurgery market. The fall in fertility rates and increased life expectancy have resulted in an aging population. Almost every country in the world is experiencing growth in the geriatric population. As per the United Nations Report, in 2022, the global population of people aged 65 years and over reached 771 million, representing approximately 10% of the global population.

Moreover, projections indicate that it is anticipated to reach a pace of 16% by the year 2050 and is further forecast to escalate to 24% by the year 2100. With an increasing number of elderly individuals worldwide, the prevalence of conditions treatable with radiosurgery, such as Parkinson's disease, essential tremors, and metastatic brain tumors, is on the rise. As the elderly grows, the demand for radiosurgery as a viable therapeutic option will escalate accordingly, driving market expansion.

Global Radiosurgery Market Restraint:

High Initial Investment Costs 

The high initial investment costs in radiosurgery primarily stem from purchasing and installing specialized equipment like linear accelerators or gamma knife systems. These machines are technologically advanced and designed for precise delivery of radiation therapy, ensuring minimal damage to surrounding healthy tissues. However, their sophistication comes at a significant expense, making them a substantial financial barrier for healthcare facilities considering the adoption of radiosurgery.

Moreover, the costs extend beyond equipment acquisition, encompassing infrastructure modifications, staff training, and ongoing maintenance expenses. This financial burden can be challenging for smaller healthcare facilities or regions with limited financial resources. Consequently, the upfront investment required for radiosurgery implementation often necessitates careful financial planning and consideration of long-term return on investment, potentially slowing down the widespread adoption of this innovative treatment modality.

Global Radiosurgery Market Opportunities:

Technological Advancements 

Technological advancements fuel the radiosurgery market by enhancing treatment precision, imaging capabilities, and patient outcomes. Innovations in dose delivery systems, real-time imaging, and robotic assistance improve the accuracy and efficacy of radiosurgical procedures. These advancements enable healthcare providers to treat a broader range of conditions more efficiently and reduce risk to surrounding healthy tissue.

For instance, in May 2022, Elekta advanced the field of radiosurgery to an unparalleled degree with the introduction of Elekta Esprit. This cutting-edge system will provide clinicians with faster-automated treatment planning and more individualized and patient-friendly treatments. It offers a level of accuracy that can safeguard both the mind and the individual. Esprit provides clinicians with advanced visualization capabilities, along with remote accessibility and collaboration options, all in one platform. This technology offers exceptional precision in treating even the most challenging locations while providing a more delicate and personalized approach to radiosurgery. These factors are expected to create opportunities for the growth of the market.

Regional Analysis

Based on region, the global radiosurgery market share is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America Dominates the Global Market

North America is the most significant global radiosurgery market shareholder and is expected to expand substantially during the forecast period. The dominance of the North American region can be attributed to the rising prevalence of cancer and neurological disorders, surging demand for new and innovative surgical methods for cancer and neurological disease treatment, increasing preference for non-invasive procedures, growing healthcare expenditure, and increasing adoption of new advanced techniques. For instance, according to the American Cancer Society, in the year 2022, around 1.9 million new cases of cancer were identified, and there were 609,362 deaths caused by cancer in the United States. Moreover, a rise in the geriatric population, which is more prone to these diseases, is further estimated to propel regional market expansion. For instance, projections indicate that the population of Americans aged 65 and above will rise to 96 million by 2060, a significant growth compared to the 52 million recorded in 2018. The number of people aged 65 and older is expected to rise from 16% to 23% for the same time frame.

Furthermore, various healthcare institutes are adopting advanced radiosurgery systems. For instance, in January 2024, Accuray Incorporated announced that the Providence Swedish Radiosurgery Center in Seattle, Washington, is improving its cancer treatment capabilities by acquiring the latest CyberKnife® S7™ System, the hospital's second purchase of a CyberKnife radiation delivery device. The system's robotic design allows for precise and accurate treatment, making it an excellent option for neurologic condition treatment. The new technology will enhance the medical team's ability to administer gold-standard stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT) treatments more efficiently than prior models, hence increasing the availability of an effective and convenient treatment option to a larger number of patients. Consequently, all these factors are estimated to boost the regional market growth.

A major concern for European governments and medical professionals is the high incidence of neurological illnesses. For instance, as per Alzheimer Europe, the estimated population of individuals living with dementia in the European Union (EU27) is 7,853,705, whereas, in European countries represented by AE members, it is anticipated to be 9,780,678. By the year 2050, it is expected that the number of people with dementia in Europe will double. Estimates include that within the European Union, there will be 14,298,671 individuals affected with dementia, and in the broader European region, there will be 18,846,286 individuals affected.

Furthermore, the increasing number of aging individuals in the region is promoting market growth. For instance, Eurostat reported that in 2022, the proportion of the EU population aged 65 or older was 21.1%. Moreover, it is projected that the median age of the EU-27 will rise by 4.5 years between 2019 and 2050, leading to a median age of 48.2 years. This is anticipated to enhance the growth of the regional market. Also, the leading institutes in this region are widely adopting radiosurgery. For instance, in May 2023, ZAP Surgical Systems, Inc., a prominent pioneer in surgical robotics, announced that Centre de Cancérologie de la Porte de Saint-Cloud (CCPSC) in Boulogne, France, has started treating patients using the revolutionary ZAP-X Gyroscopic Radiosurgery platform. Thus, the aforementioned aspects are estimated to boost the regional market expansion. 

Segmental Analysis

The global radiosurgery market is segmented by technology and end-users.

Based on technology, the global radiosurgery market is divided into cobalt 60 systems (Gamma Knife), electron-emitting high-energy linear accelerators (Linac), and proton beam therapy.

Cobalt-60 systems, often referred to as Gamma Knife, are advanced medical devices primarily used in stereotactic radiosurgery to treat brain tumors, vascular malformations, and other neurological conditions. These systems utilize gamma radiation emitted from cobalt-60, a radioactive isotope, to precisely target and destroy abnormal tissue within the brain while minimizing damage to surrounding healthy tissue. Gamma Knife procedures are non-invasive and highly accurate, offering an alternative to traditional surgery for certain conditions.

The system consists of multiple radiation sources arranged in a spherical geometry, which converge precisely on the target area, delivering a high radiation dose with minimal impact on surrounding tissues. This precision is achieved through advanced imaging techniques such as MRI and CT scans, which enable precise treatment planning. Cobalt-60 systems provide a safe and effective treatment option for patients with brain disorders, offering high rates of tumor control and minimizing the risk of complications associated with traditional surgical procedures.

Based on end-users, the global radiosurgery market is segmented into hospitals, clinics, and others. 

The hospital segment dominates the global market. Radiosurgery, a minimally invasive medical procedure, finds extensive use in hospitals for treating various conditions, notably brain tumors, arteriovenous malformations (AVMs), and trigeminal neuralgia. In hospitals, radiosurgery is favored for its non-invasive nature, often offering an alternative to traditional surgery, especially for patients deemed unsuitable for or reluctant to undergo invasive procedures. Its applications extend beyond neurosurgery, including treatments for certain cancers, functional disorders, and vascular abnormalities.

With its ability to deliver high doses of radiation precisely, radiosurgery enables effective tumor control while minimizing side effects and reducing treatment duration. Its versatility, efficacy, and patient-friendly approach make radiosurgery a valuable tool in modern healthcare, offering hope and improved outcomes for patients facing diverse medical challenges.

Recent Developments

• March 2024- AIIMS, New Delhi, provides gamma knife radiosurgery as a treatment option for eye tumors, including choroidal melanoma, which is a deviation from the normal approach.
• March 2024- Apollo Hospitals introduced ZAP-X, an innovative gyroscopic radiosurgery platform designed for the treatment of brain tumors. The platform was inaugurated at Indraprastha Apollo Hospital in New Delhi. Zap Surgical, a medical device manufacturer based in the United States, will introduce the platform in India.