Veterinary Stereotactic Radiosurgery System Industry Growth Expected to Reach $5.28 Billion by 2029 at a CAGR of 12.6% | Segmentation and Growth Opportunities
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What Is the Forecast for the Veterinary Stereotactic Radiosurgery System Market Growth in 2025?
Over recent times, the market size for veterinary stereotactic radiosurgery systems has experienced considerable expansion. It’s projected that this market will expand from $2.92 billion in 2024 to $3.28 billion in 2025, indicating a compound annual growth rate (CAGR) of 12.3%. This significant growth during the historical phase can be traced back to factors such as the rise in pet ownership, investments in veterinary healthcare, supportive regulatory frameworks, and the growth in pet insurance.
What Is the Forecast for the Veterinary Stereotactic Radiosurgery System Market Size Through 2029?
In the next few years, the market size of the veterinary stereotactic radiosurgery system is predicted to experience fast growth. It is expected to increase to $5.28 billion by 2029, with a compound annual growth rate (CAGR) of 12.6%. The growth trajectory in the forecast period can be assigned to factors such as the increasing geriatric pet population, heightened awareness and education, and the globalization of veterinary services. Predominant trends for the forecast period include the fusion of artificial intelligence and robotics, ongoing technological advancements, a heightened focus on customized medicine, the incorporation of telemedicine, collaborations and partnerships, rising popularity of cyberknife and linac systems, and an emphasis on minimally invasive procedures.
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What are the Key Market Players in Veterinary Stereotactic Radiosurgery System Market and How They’re Evolving?
Major companies operating in the veterinary stereotactic radiosurgery system market include PetCure Oncology, Elekta AB, Accuray Incorporated, Varian Medical Systems Inc., Nanovi Radiotherapy A/S, Ion Beam Applications SA, ZAP Surgical Systems Inc., Brainlab AG, Best Medical International Inc., Mevion Medical Systems Inc., Hitachi Ltd., Sumitomo Heavy Industries Ltd., Shinva Medical Instrument Co. Ltd., Beijing Wandong Medical Equipment Co. Ltd., Neusoft Medical Systems Co. Ltd., Xinjiang Xinxing Medical Equipment Co. Ltd., Beijing Neusoft Medical Systems Co. Ltd., Siemens Healthineers AG, Philips Healthcare Company, GE Healthcare Technologies Inc., Toshiba Medical Systems Corporation, Hitachi Aloka Medical Ltd., Vision RT Limited
What Are the Primary Growth Drivers in the Veterinary Stereotactic Radiosurgery System Market?
The market for veterinary stereotactic radiosurgery systems is projected to expand, stimulated by the increasing number of household pets. These animals, kept for companionship and pleasure, often require treatment for various types of tumors, which these systems can effectively handle irrespective of differing head sizes and shapes. The People’s Dispensary Sick Animals wellness (PAW) report reveals that the yearly check-up of pet health shows that 53% of UK adults would become pet owners in 2023, with 29% having a dog, 24% having a cat, and 2% having a rabbit. This growth in pet ownership is recognized by nearly 67% of veterinary practitioners, who have recorded a rise in pet numbers over the previous two years. They attribute this primarily to increased visits to their clinics (71%) and observing more new pets in their areas (54%). Consequently, this upward trend in pet ownership is contributing to the flourishing veterinary stereotactic radiosurgery system market.
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What Are the Leading Segments in the Global Veterinary Stereotactic Radiosurgery System Industry?
The veterinary stereotactic radiosurgery system market covered in this report is segmented –
1) By Product: Microsurgical Instrumentation, Optical Or Viewing Instruments, Other Products
2) By Modality: Gamma Knife, Linear Accelerator, Particle Beam Radiation Therapy, Cyber Knife
3) By Application: Canine, Feline, Other Applications
4) By End User: Hospitals, Contract Research Organizations (CROs), Other End Users
Subsegments:
1) By Microsurgical Instrumentation: Stereotactic Frames, Navigation Systems, Targeting Devices
2) By Optical Or Viewing Instruments: Endoscopes, Surgical Microscopes, Imaging Systems
3) By Other Products: Treatment Planning Software, Radiation Delivery Systems, Accessories
What Are the Key Market Trends in the Veterinary Stereotactic Radiosurgery System Industry?
Key advancements in technology are becoming increasingly influential in the realm of the veterinary stereotactic radiosurgery system market. To maintain their market position, major industry players are focusing on the development of advanced technological solutions. For instance, US-based radiotherapy system manufacturer, Accuray Incorporated, released the CyberKnife S7 system, which represents the latest offering from the company’s CyberKnife radiation therapy line. The robotically assisted radiation therapy system can administer both stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT) treatments in just 15 minutes, treating neurological disorders and varying types of cancers. The S7 system, equipped with Accuray’s Synchrony motion-synchronization technology, allows for the real-time adaptation of radiation therapy in response to patient or tumor movement. Furthermore, the system’s one-of-a-kind robotic design facilitates the emission of radiation from potentially thousands of varying angles.
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What Is the Regional Outlook for the Veterinary Stereotactic Radiosurgery System Market?
North America was the largest region in the veterinary stereotactic radiosurgery system market in 2024. The regions covered in the veterinary stereotactic radiosurgery system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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This Report Delivers Insight On:
1. How big is the veterinary stereotactic radiosurgery system market, and how is it changing globally?
2. Who are the major companies in the veterinary stereotactic radiosurgery system market, and how are they performing?
3. What are the key opportunities and risks in the veterinary stereotactic radiosurgery system market right now?
4. Which products or customer segments are growing the most in the veterinary stereotactic radiosurgery system market?
5. What factors are helping or slowing down the growth of the veterinary stereotactic radiosurgery system market?
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