2024 Stereotactic Surgery Devices Market Overview: Key Insights on Size, Share, and Trends
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What is the Anticipated Growth Speed of the Stereotactic Surgery Devices Market Between 2024 and 2033?
In recent times, there has been a consistent increase in the market size for stereotactic surgery devices. A shift from $21.43 billion in 2023 to $22.41 billion in 2024, growing at a compound annual growth rate (CAGR) of 4.6%, projects this expansion. The notable growth during the historical period can be traced back to factors such as the preference for minimally invasive procedures, the incorporation of robotics and automation, heightened demand for precision and accuracy, along with improved safety measures.
In the coming years, the market size for stereotactic surgery devices is predicted to experience consistent expansion. By 2028, it is projected to reach $27.21 billion, growing at a compound annual growth rate (CAGR) of 5.0%. The growth during the forecast period is linked to factors such as the increasing prevalence of cancer, the integration of AI and machine learning, the extension into new medical fields, growing geriatric population, and tailoring of treatments to individual patients. The forecast period is also likely to foresee trends like enhanced precision and accuracy, device miniaturization, robotics and automation technology, personalized treatment strategies, and a wider range of applications and procedures.
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Which Factors Are Enhancing the Growth of the stereotactic surgery devices Market?
The rise in cases of Parkinson’s disease and epilepsy is projected to propel the expansion of the stereotactic surgical device market. Parkinson’s disorder, a neurodegenerative disease, triggers unintentional tremors, slow motion, and stiff, rigid muscles, while epilepsy is a neurological disorder that makes patients more prone to recurrent, unprovoked seizures. Stereotactic surgical devices help treat movement disorders, pain, psychiatry, alongside epilepsy and Parkinson’s disease. For instance, the Parkinson’s Foundation, a national nonprofit organization headquartered in New York, revealed in a study that more than 90,000 individuals will be diagnosed with Parkinson’s disease annually, which is a 50% increase from the previous annual rate of 60,000 diagnoses. Close to a million individuals in the U.S. are affected by Parkinson’s disease (PD) and the number is set to hit 1.2 million by 2030. Hence, the surging cases of Parkinson’s disease and epilepsy are fueling the growth of the stereotactic surgical device market.
Which Segments Are Crucial in the Stereotactic Surgery Devices Market?
1) By Product: Gamma Knife, Line Accelerator (LINAC) Machines, Proton Beam, CyberKnife
2) By Application: Brain Tumor Treatment, Arteriovenous Malformations Treatment, Parkinsons Disease, Epilepsy, Other Applications
3) By End User: Hospitals, Laboratories
What Emerging Trends Are Shaping the Future of the Stereotactic Surgery Devices Market?
Advancements in technology have become a prominent trend in the stereotactic surgical device market. To secure their market position, numerous key players are investing in the development of innovative technologies. For instance, Brainlab, a medical technology company based in Germany, launched a new product named ExacTrac Dynamic Surface in May 2023. This advanced product is a Surface-guided Radiation Therapy (SGRT) patient tracking and positioning system, offering high-speed thermal surface tracking capabilities along with an update of ExacTrac X-ray monitoring. This helps enhance flexibility and precision in patient positioning and monitoring across various treatments, such as cranial and spine stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT). The system projects a structured blue light pattern on the patient’s surface, which is captured by two 3D cameras. Each surface point is further enhanced with a thermal signature that is recorded by the third camera within the unit.
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What Regions Are At the Forefront of Stereotactic Surgery Devices Market Expansion?
North America was the largest region in the stereotactic surgery devices market in 2023. The regions covered in the stereotactic surgery devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Stereotactic Surgery Devices Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the stereotactic surgery devices market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Stereotactic Surgery Devices Market Include
1. Stereotactic Surgery Devices Market Executive Summary
2. Stereotactic Surgery Devices Market Segments
3. Stereotactic Surgery Devices Market Size And Template Market Growth Rate
4. Key Stereotactic Surgery Devices Market Trends
5. Major Stereotactic Surgery Devices Market Drivers
……
25. Key Mergers And Acquisitions In The Stereotactic Surgery Devices Market
26. Top Stereotactic Surgery Devices Companies
27. Stereotactic Surgery Devices Market Opportunities And Strategies
28. Stereotactic Surgery Devices Market, Conclusions And Recommendations
29. Appendix
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