Stereotactic Surgery Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Stereotactic Surgery Devices Market by Product Type (Gamma Knife, Linear Particle Accelerators, Proton Therapy Systems, and Stereotactic Systems), End User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to grow at a steady CAGR forecast till 2030 owing to the rising prevalence of neurological disorders, increasing adoption of minimally invasive procedures, and increase in product development activities by the key market players across the globe.

The global stereotactic surgery devices market is projected to grow at a 5.37% CAGR during the forecast period from 2024 to 2030. The market for stereotactic surgery devices is experiencing significant growth due to several interconnected factors. Firstly, the rising prevalence of neurological conditions such as brain tumors, Parkinson's disease, and epilepsy has increased the demand for precise surgical interventions that stereotactic devices can offer. Additionally, there is a growing adoption of minimally invasive procedures, driven by their benefits of reduced recovery times and lower complication rates. Furthermore, the ongoing product development activities by the key market players are enhancing the capabilities and features of stereotactic devices, leading to innovations that improve surgical outcomes and patient safety further propelling the market growth during forecast period from 2024 to 2030.

Stereotactic Surgery Devices Market Dynamics:

According to the recent data provided by the GLOBOCAN, in 2022, globally the estimated new cases of brain and central nervous system cancer was estimated to be 322,000 per 100,000 population and the projection were estimated to increase 474,000 per 100,000 population by 2045.

Additionally, as per the recent data provided by the World Health Organization (2024), epilepsy affects approximately 50 million people worldwide, making it one of the most prevalent neurological disorders globally. Nearly 80% of those affected reside in low- and middle-income countries.

As these neurological conditions become more prevalent, there is an increased demand for precise and effective surgical solutions to manage and treat them. Stereotactic surgery devices play a pivotal role in accurately targeting and treating brain tumors, controlling epileptic seizures, and addressing stroke-related complications. Their ability to deliver targeted therapy with minimal invasiveness enhances treatment outcomes and reduces recovery times. Consequently, the growing number of cases necessitates advanced surgical technologies, driving the demand for stereotactic devices across the globe.

Along with the factors mentioned above, technological advancements in the field of stereotactic surgery devices such as the development of new techniques to enhance the yield and diagnostic accuracy are also expected to aid in the growth of the stereotactic surgery devices market. For instance, in June 2021, NaviNetics Inc. received the premarket product approval from the US Food and Drug Administration for their NaviNeticsD1 stereotactic system.

However, the risk associated with stereotactic surgery device such as infection, bleeding, or adverse reactions to anesthesia, and stringent regulatory concerns for product approval may hinder the growth of stereotactic surgery devices.

Stereotactic Surgery Devices Market Segment Analysis:

Stereotactic Surgery Devices Market by Product Type (Gamma Knife, Linear Particle Accelerators, Proton Therapy Systems, and Stereotactic Systems), End User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product type segment of the overall stereotactic surgery devices market, the proton therapy system are expected to hold the largest share in the year 2023. Proton therapy, known for its precision and reduced collateral damage to surrounding healthy tissues, complements stereotactic surgery's focus on high-accuracy interventions. The integration of proton therapy systems into cancer treatment regimens highlights the need for advanced stereotactic devices to precisely target tumors and optimize therapeutic outcomes. Proton therapy's ability to deliver high doses of radiation with minimal exposure to healthy tissues supports the growing trend toward personalized and targeted cancer treatments, which, in turn, fuels the demand for stereotactic surgery systems that can accurately guide and monitor such therapies.

Additionally, the technological advancements driven by proton therapy innovations, fostering a competitive market environment that spurs continuous improvement and expansion. For instance, in October 2021, Ion Beam Applications SA announced the launch of the first online platform dedicated to proton therapy.

Hence, all the above-mentioned factors are expected to boost the growth of the segment, thus generating a considerable revenue for Proton Therapy Systems during the forecast period.

North America is expected to dominate the overall stereotactic surgery devices market:

Among all the regions, North America is expected to hold the largest share in the global Stereotactic Surgery Devices market in 2023. The growing prevalence of traumatic brain injuries, neurological disorders such as epilepsy, Alzheimer's, and Parkinson's disease across the region is escalating the overall market of stereotactic surgery across the region. Additionally, recent product developmental activities, and rising government initiatives are expected to aid in the growth of the North American stereotactic surgery devices market during the forecast period from 2024 to 2030.

According, to the recent data provided by the Centre for Disease Control and Prevention (2024), in 2021, about 2.9 million adults 18 and older reported having active epilepsy in the United States

Furthermore, as per the recent data provided by Centre for Disease Control and Prevention (2024), in 2021, there were more than 586 traumatic brain injury-related hospitalizations per day in the United States.

Additionally, as per the recent data provided by the Alzheimer's Association, in 2024, approximately 6.9 million Americans age 65 and older are living with Alzheimer's.

Furthermore, as per the recent data provided by the Parkinson's Foundation (2022), nearly 90,000 people are diagnosed with Parkinson's disease in the U.S. each year and approximately one million people in the U.S. are living with Parkinson's disease (PD). This number is expected to rise to 1.2 million by 2030.

These complex neurological disorders often require highly accurate surgical interventions to manage symptoms, improve outcomes, and enhance quality of life. Stereotactic surgery devices, known for their precision in targeting specific brain regions, are essential for treating these conditions effectively. The rising incidence of these disorders and the demand for minimally invasive surgical techniques are leading to greater adoption of stereotactic devices, which are crucial for accurate diagnostics, treatment planning, and real-time adjustments during surgery thus, escalating the market across the region.

Furthermore, the increased emphasis on product development activities and high interest of device manufacturers in accessing local markets further aid in the growth of the regional markets for stereotactic surgery devices. For instance, in June 2021, Elekta AB received the product approval from the US FDA for their linear accelerator-based Elekta harmony radiation therapy system.

Therefore, the interplay of above mentioned various factors in the region are expected to boost the North America stereotactic surgery devices market during the forecast period.

Stereotactic Surgery Devices Market Key Players:

Some of the key market players operating in the stereotactic surgery devices market include Elekta AB, Accuray Incorporated, Ion Beam Applications S.A., Mevion Medical Systems, Varian Medical Systems, Inc. (Siemens Healthineers), inomed Medizintechnik GmbH, adeor medical AG, Bramsys Industria e Comercio Ltd., Micromar Ind. E Com. LTDA, Mizuho Medical Co. Ltd., Shinva Medical Instrument co.,ltd., Panacea Medical Technologies Pvt. Ltd., Sumitomo Heavy Industries, Ltd., Hitachi Co. Ltd., ClearPoint Neuro, and others.

Recent Developmental Activities in the Stereotactic Surgery Devices Market:

• In July 2024, Apollo Cancer Centres collaborated with Accuray to launch Indian sub- continent's first robotic stereotactic radiotherapy program.
• In January 2024, ClearPoint Neuro announced the FDA clearance for SmartFrame OR(TM) stereotactic system.

Key Takeaways From the Stereotactic Surgery Devices Market Report Study:

• Market size analysis for current stereotactic surgery devices size (2023), and market forecast for 6 years (2024 to 2030)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the stereotactic surgery devices market.
• Various opportunities available for the other competitors in the stereotactic surgery devices market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current stereotactic surgery devices market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for stereotactic surgery devices market growth in the coming future?

Target Audience who can be Benefited From This Stereotactic Surgery Devices Market Report Study:

• Stereotactic surgery devices product providers
• Research organizations and consulting companies
• Stereotactic surgery devices -related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in stereotactic surgery devices
• Various end-users who want to know more about the stereotactic surgery devices market and the latest technological developments in the stereotactic surgery devices market.

Frequently Asked Questions for the Stereotactic Surgery Devices Market:

1. What are stereotactic surgery devices?

• Stereotactic surgery devices are specific devices that are used in the performance of stereotactic radiosurgery and radiotherapy such as proton systems and LINACs.

2. What is the market for stereotactic surgery devices?

• The global stereotactic surgery devices market is projected to grow at a 5.37% CAGR during the forecast period from 2024 to 2030.

3. What are the drivers for the stereotactic surgery devices market?

• The market for stereotactic surgery devices is experiencing significant growth due to several interconnected factors. Firstly, the rising prevalence of neurological conditions such as brain tumours, Parkinson's disease, and epilepsy has increased the demand for precise surgical interventions that stereotactic devices can offer. Additionally, there is a growing adoption of minimally invasive procedures, driven by their benefits of reduced recovery times and lower complication rates. Furthermore, the ongoing product development activities by key market players are enhancing the capabilities and features of stereotactic devices, leading to innovations that improve surgical outcomes and patient safety further propelling the market growth during forecast period from 2024 to 2030.

4. Who are the key players operating in the stereotactic surgery devices market?

• Some of the key market players operating in the stereotactic surgery devices market include Elekta AB, Accuray Incorporated, Ion Beam Applications S.A., Mevion Medical Systems, Varian Medical Systems, Inc. (Siemens Healthineers), inomed Medizintechnik GmbH, adeor medical AG, Bramsys Industria e Comercio Ltd., Micromar Ind. E Com. LTDA, Mizuho Medical Co. Ltd., Shinva Medical Instrument co.,ltd., Panacea Medical Technologies Pvt. Ltd., Sumitomo Heavy Industries, Ltd., Hitachi Co. Ltd., ClearPoint Neuro, and others.

5. Which region has the highest share in the stereotactic surgery devices market?

• Among all the regions, North America is expected to hold the largest share in the global stereotactic surgery devices market in 2023. The growing prevalence of traumatic brain injuries, neurological disorders such as epilepsy, Alzheimer's, and Parkinson's disease across the region is escalating the overall market of neurological diagnostic and monitoring equipment across the region. Additionally, recent product developmental activities, and rising government initiatives are expected to aid in the growth of the North American stereotactic surgery devices market during the forecast period from 2024 to 2030.