Radiosurgery Market

Market Overview

Radiosurgery Market Size Anticipated to Touch a CAGR of 6.4% During the Forecast Period.

Radiosurgery is a form of external radiation therapy that uses special equipment to position the patient and precisely administer a single large dose of radiation to the tumor. It is performed using advanced robotics, tumor tracking systems, and imaging capabilities. It is also referred to as radiation surgery, stereotactic radiosurgery, and stereotactic radiosurgery. In stereotactic radiosurgery, guided radiation is administered at large doses to minimize or kill tumors and lesions. As per the National Cancer Institute (NCI), around 50% of the cancer patients are treated using radiosurgery. 

Recently, the Radiosurgery Society (RSS) announced that its "RS-Search Patient Registry" treated around 25,000 cancer patients with stereotactic radiosurgery and stereotactic body radiotherapy. Similarly, Elekta AB introduced the Lecksell Gamma Knife Icon device. It is backed with a new concept of virtual treatment of any brain target.  Other factors driving the market include the growing prevalence of cancer and brain tumor, increasing number of practitioners in the field of oncology, rising healthcare infrastructure in developing countries, increasing product approvals, technological advancements, and growing R&D activities.

Market Dynamics

Market Drivers

• Rising Prevalence of Cancer to Uplift the Radiosurgery Market

Globally, the prevalence of cancer is increasing at an alarming rate due to a sedentary lifestyle, high BMI, and rising alcohol consumption. As per the WHO, around 9.6 million people died of cancer in 2018, out of which, about 70% of the deaths occurred in the developing countries, which is further grabbing the attention of leading and emerging market players.  

• Global Radiosurgery Market Dynamics

Rising adoption of radiosurgery procedures for cancer treatment and surge in technological advancement in radiosurgery are the key factors driving the market growth. As per the WHO, in 2012, around 14.1 million new cases were diagnosed, and about 8.2 million people died of cancer across the globe. The lack of sufficient resources in the field of radiotherapy, less awareness, lack of skilled and experienced professionals are some of the factors impeding market growth. However, the emergence of new market players in the field and increasing demand for cancer treatment are expected to drive the market growth.

• The Most Quintessential Factors of Radiosurgery Market

LINAC devices use high-energy x-rays to diagnose large tumors and other lesions outside the brain. It has the potential to identify and treat massive tumors. It is widely used for external beam radiation therapy and in the radiosurgery due to its multifaceted applications. In addition, Linear Accelerators (LINAC) reduces the risk of neurocognitive deterioration resulting in rapid subjective improvement of symptoms and lesion regression just 3 months after the diagnosis. As a result, LINAC systems are widely used globally due to its multitude of applications, which is further boosting the market growth.

Segmental Analysis

Hospital to Dominate the End-User Segment

Hospitals are dominating the end-user segment due to the increasing number of radiosurgery, rising prevalence of cancer, and the growing adoption of new and technologically advanced radiosurgery devices. The segment is expected to grow with one of the highest CAGR during the forecast period, which is further grabbing the attention of leading players that are engaging in collaborations and mergers to sustain in the cut-throat competition.  In November 2018, Mevion and Chengdu Xingcheng signed a strategic agreement to create a leading proton therapy center in Chengdu, China.

Regional Analysis

Regionally, the global radiosurgery market is segmented into North America, Europe, Asia Pacific, and the Middle East and Africa.

North America is dominating the radiosurgery market and is likely to continue the same during the forecast period. This can be attributed to the rising prevalence of cancer, surging demand for new and innovative surgical methods for cancer treatment, increasing preference of non-invasive procedures, growing healthcare expenditure, and increasing adoption of new advanced techniques. As per the American Cancer Society, around 40,000 people were diagnosed with head and neck cancer in 2014, out of which, around 12,000 people died of the disease. Head and neck cancer account for nearly 5–6% of the cancer cases and the number is likely to increase in the years to come, which is further boosting the market growth. To attend to the dire situation, the leading players are engaging in strategic collaboration and mergers to develop an advanced cancer treatment.

Europe to Lead the Radiosurgery Market

In 2018, Europe accounted for the second-largest share in the radiosurgery market. This can be attributed to the increasing prevalence of cancer and the rising adoption of advanced cancer treatment in the U.K, Germany, and France, which is further offering lucrative opportunities for market growth.  Other factors driving the market growth include rising government support, rapid introduction of radiotherapy training programs, and the increasing presence of leading and emerging players who are continuously working to develop advanced radiotherapy products to sustain in the raging competition.

The Asia Pacific to be the Fastest Growing Regional Market

The Asia Pacific is grabbing the highest shares and is one of the fastest-growing radiosurgery markets.  India, China, and Japan are the major contributors to the market growth due to increasing health infrastructure, rising per-capita income, surging prevalence of cancer, high acceptance of radiosurgery, and rising government support in the countries. 

The Middle East and Africa to Emerge in the Market

In Africa, the prevalence of cancer is increasing at a concerning rate. Lack of better healthcare infrastructure, low healthcare expenditure, unavailability of radiotherapy facilities, and less awareness regarding cancer treatments are some of the factors impeding the market growth. As per the NCBI, around half a million new cases of cancer are diagnosed in Sub-Saharan Africa, and the number is expected to increase in the years to come, which is further adding fuel to the market growth.  Whereas, the Middle East is emerging in the radiosurgery market due to rising government support, increasing healthcare expenditure, surging investments in the healthcare sector, rising product approvals, and increasing demand for radio surgical procedures.

Radiosurgery Market Segmentation

By Indication

• Cobalt 60 Systems (Gamma Knife)
• Electron Emitting High-Energy Linear Accelerator (Linac)
• Proton Beam Therapy

By End-User

• Hospitals
• Clinics
• Others

By Regions

Americas

• North America
• South America

Europe

• Western Europe
  • Rest of Western Europe
• Eastern Europe

Asia-Pacific

MEA

• The Middle East
• Africa