Stereotactic Surgery Market Overview and Analysis
The market for stereotactic surgery devices was estimated to be worth USD 25.3 billion in 2022, and between 2023 and 2030, it is projected to grow at a compound annual growth rate (CAGR) of 3.9%.
Stereotactic surgery is a surgical technique that uses a three-dimensional coordinate system to accurately locate and target specific body parts, typically the brain. This technique allows for the most control and precision in intervention procedures with the least amount of damage to the surrounding healthy tissues. "Stereotactic" methods are those that precisely guide radiation or surgical instruments to the desired location using coordinates and a fixed frame of reference.
Medical technology is developing quickly in the field of stereotactic surgery, and its market has been expanding significantly. In stereotactic surgery, precise localization and targeting of particular body parts are performed, frequently with the aid of three-dimensional coordinates for accuracy. Radiation therapy and neurosurgery are two medical specialties where this minimally invasive method has found use. The growing ageing population with related neurological disorders, the need for less invasive procedures, and the development of imaging technologies have all propelled the market for stereotactic surgery. Major players in the industry have been spending money on R&D to improve the accuracy and effectiveness of stereotactic surgery methods. Innovation in this field has also been fostered by partnerships between technology companies and healthcare institutions.
Stereotactic Surgery Market Latest Trends:
As technology continues to progress and patient outcomes become more important, the market for stereotactic surgery is showing signs of renewed growth. A noteworthy development in stereotactic surgical systems was the ongoing integration of robotics and artificial intelligence (AI), which improved accuracy and made more complicated operations possible. Surgery is now more accurate and visually appealing thanks to the advancements in image-guided platforms and real-time navigation systems. Furthermore, developments in fields like cardiology and oncology have led to a growing emphasis on extending the scope of stereotactic surgery's applications beyond neurosurgery. While efforts were being made to make stereotactic surgery more widely available, partnerships between medical device manufacturers and healthcare providers were also promoting innovation.
Segmentation:
By Product Type
- Gamma Knife
- Linear Accelerators(LINAC)
- Proton Beam Therapy (PBRT)
- Cyber Knife),
Applications
- Brain Tumour Treatment
- Arteriovenous Malformations Treatment
- Parkinson’s Disease
- Epilepsy
- Others
End User
- Hospitals
- Ambulatory
- Surgery Centres
Drivers:
Little-Invasive Techniques
Stereotactic surgery accelerates patient healing by minimising the need for large incisions because it is a less invasive procedure. The growing inclination of patients and healthcare providers towards procedures with shorter recovery times and lower post-operative complications can be attributed to this.
Technological Developments
The precision and efficacy of stereotactic surgery have been greatly improved by ongoing developments in robotics, artificial intelligence, and imaging technologies. Surgeons and patients alike benefit from increased accuracy in procedures due to enhanced navigation systems, real-time imaging, and robotic assistance.
Neurological Disorders Are Becoming More Common
The need for stereotactic surgery has been fueled by the increased prevalence of neurological conditions like brain tumours, Parkinson's disease, and epilepsy. It is anticipated that the prevalence of these conditions will rise as the world's population ages, increasing the demand for precise and focused interventions.
Restraints:
Exorbitant starting costs Acquiring related technologies and stereotactic surgical systems can come with hefty upfront costs. The adoption of these systems may be hampered by this financial barrier, especially in healthcare settings with tight budgets or in underdeveloped areas.
Restricted Availability in Developing Areas
Developmentally poor infrastructure, a shortage of qualified personnel, and budgetary constraints may make advanced stereotactic surgery technologies inaccessible in these areas. Market expansion in some regions may be hampered by the disparity in access to state-of-the-art medical technologies.
Complicated Procedures for Regulatory Approval
New stereotactic surgical technologies may need to go through a drawn-out and complicated regulatory approval process. Tight regulations could slow down the release of novel products onto the market, which would slow down the adoption and advancement of new technologies.
COVID-19 Impact on Stereotactic Surgery Market
The COVID-19 pandemic has had a long-lasting effect on the market for stereotactic surgery, affecting a number of its dynamics. Early in the pandemic, there was a significant disruption to elective medical procedures, such as stereotactic surgeries, as resources were diverted by healthcare systems worldwide to address the spike in COVID-19 cases. This had an effect on the use of stereotactic surgical technologies by causing non-urgent surgeries to be cancelled or postponed. The pandemic's effects on the supply chain also had an impact on the production and distribution of medical equipment, which might have led to delays and shortages in the purchase of stereotactic surgical systems and their component parts.
Segmental Analysis:
There are several ways to analyse the stereotactic surgery market, and each one offers insights into a different facet of this developing medical technology. The market is divided into frame-based and frameless stereotactic systems based on technology. While frameless systems use imaging technologies and coordinates for accuracy without the need for a physical frame, frame-based systems use a rigid frame that is attached to the patient's head to ensure precise targeting. Radiation therapy, neurosurgery, and other treatments are covered in the application section. The growing incidence of neurological conditions is the main reason why neurosurgery is still the most common application. Due to their accuracy in treating tumours, radiation therapy applications such as stereotactic radiosurgery and stereotactic body radiation therapy have become more well-known.
Competitive Landscape:
The competitive landscape of the stereotactic surgery market provides details broken down by competitor. The background, finances, revenue, market potential, R&D spending, new market initiatives, global reach, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product breadth and width, and application dominance of the company are all covered in detail. The information provided above only relates to the companies' stereotactic surgery market focus.
- Key Players
- Koninklijke Philips N.V.
- Huiheng Group.
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- Renishaw plc.
- Varian Medical Systems, Inc.
- Hitachi Medical Systems Europe (Holding) AG
- Accuray Incorporated
- Ferring B.V.
- SHINVA MEDICAL INSTRUMENT CO., LTD.
- Elekta AB (publ)
- Radiological Society of North America
- Mevion Medical Systems
- Siemens
- ProTom International
- Provision Healthcare
- Nordion (Canada) Inc
- Vision RT Ltd.
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Stereotactic Surgical Planning Software Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Segment 1
- 5.2.1. Sub-Segment 1
- 5.2.2. Sub-Segment 2
- 5.3. Market Analysis, Insights and Forecast – By Segment 2
- 5.3.1. Sub-Segment 1
- 5.3.2. Sub-Segment 2
- 5.3.3. Sub-Segment 3
- 5.3.4. Others
- 5.4. Market Analysis, Insights and Forecast – By Segment 3
- 5.4.1. Sub-Segment 1
- 5.4.2. Sub-Segment 2
- 5.4.3. Sub-Segment 3
- 5.4.4. Others
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Latin America
- 5.5.3. Europe
- 5.5.4. Asia Pacific
- 5.5.5. Middle East and Africa
6. North America Stereotactic Surgical Planning Software Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Segment 1
- 6.2.1. Sub-Segment 1
- 6.2.2. Sub-Segment 2
- 6.3. Market Analysis, Insights and Forecast – By Segment 2
- 6.3.1. Sub-Segment 1
- 6.3.2. Sub-Segment 2
- 6.3.3. Sub-Segment 3
- 6.3.4. Others
- 6.4. Market Analysis, Insights and Forecast – By Segment 3
- 6.4.1. Sub-Segment 1
- 6.4.2. Sub-Segment 2
- 6.4.3. Sub-Segment 3
- 6.4.4. Others
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Latin America Stereotactic Surgical Planning Software Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Segment 1
- 7.2.1. Sub-Segment 1
- 7.2.2. Sub-Segment 2
- 7.3. Market Analysis, Insights and Forecast – By Segment 2
- 7.3.1. Sub-Segment 1
- 7.3.2. Sub-Segment 2
- 7.3.3. Sub-Segment 3
- 7.3.4. Others
- 7.4. Market Analysis, Insights and Forecast – By Segment 3
- 7.4.1. Sub-Segment 1
- 7.4.2. Sub-Segment 2
- 7.4.3. Sub-Segment 3
- 7.4.4. Others
- 7.5. Insights and Forecast – By Country
- 7.5.1. Brazil
- 7.5.2. Mexico
- 7.5.3. Rest of Latin America
8. Europe Stereotactic Surgical Planning Software Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Segment 1
- 8.2.1. Sub-Segment 1
- 8.2.2. Sub-Segment 2
- 8.3. Market Analysis, Insights and Forecast – By Segment 2
- 8.3.1. Sub-Segment 1
- 8.3.2. Sub-Segment 2
- 8.3.3. Sub-Segment 3
- 8.3.4. Others
- 8.4. Market Analysis, Insights and Forecast – By Segment 3
- 8.4.1. Sub-Segment 1
- 8.4.2. Sub-Segment 2
- 8.4.3. Sub-Segment 3
- 8.4.4. Others
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. UK
- 8.5.2. Germany
- 8.5.3. France
- 8.5.4. Italy
- 8.5.5. Spain
- 8.5.6. Russia
- 8.5.7. Rest of Europe
9. Asia Pacific Stereotactic Surgical Planning Software Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Segment 1
- 9.2.1. Sub-Segment 1
- 9.2.2. Sub-Segment 2
- 9.3. Market Analysis, Insights and Forecast – By Segment 2
- 9.3.1. Sub-Segment 1
- 9.3.2. Sub-Segment 2
- 9.3.3. Sub-Segment 3
- 9.3.4. Others
- 9.4. Market Analysis, Insights and Forecast – By Segment 3
- 9.4.1. Sub-Segment 1
- 9.4.2. Sub-Segment 2
- 9.4.3. Sub-Segment 3
- 9.4.4. Others
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. China
- 9.5.2. India
- 9.5.3. Japan
- 9.5.4. Australia
- 9.5.5. South East Asia
- 9.5.6. Rest of Asia Pacific
10. Middle East & Africa Stereotactic Surgical Planning Software Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Segment 1
- 10.2.1. Sub-Segment 1
- 10.2.2. Sub-Segment 2
- 10.3. Market Analysis, Insights and Forecast – By Segment 2
- 10.3.1. Sub-Segment 1
- 10.3.2. Sub-Segment 2
- 10.3.3. Sub-Segment 3
- 10.3.4. Others
- 10.4. Market Analysis, Insights and Forecast – By Segment 3
- 10.4.1. Sub-Segment 1
- 10.4.2. Sub-Segment 2
- 10.4.3. Sub-Segment 3
- 10.4.4. Others
- 10.5. Market Analysis, Insights and Forecast – By Country
- 10.5.1. GCC
- 10.5.2. South Africa
- 10.5.3. Rest of Middle East & Africa
11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2018
- 11.2. Key Industry Developments
- 11.3. Company Profile
- 11.3.1. Company 1
- 11.3.1.1. Business Overview
- 11.3.1.2. Segment 1 & Service Offering
- 11.3.1.3. Overall Revenue
- 11.3.1.4. Geographic Presence
- 11.3.1.5. Recent Development
- 11.3.2. Company 2
- 11.3.3. Company 3
- 11.3.4. Company 4
- 11.3.5. Company 5
- 11.3.6. Company 6
- 11.3.7. Company 7
- 11.3.8. Company 8
- 11.3.9. Company 9
- 11.3.10. Company 10
- 11.3.11. Company 11
- 11.3.12. Company 12
- 11.3.1. Company 1
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
