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 The veterinary stereotactic radiosurgery system market has experienced robust growth, with significant increases in size and projections for the future. This surge is attributed to various factors, including pet ownership trends, healthcare investments, regulatory support, and the growing popularity of pet insurance.

Market Growth and Projections

• Historical Growth: The veterinary stereotactic radiosurgery system market has witnessed substantial expansion, escalating from $2.61 billion in 2023 to $2.95 billion in 2024, showcasing a remarkable Compound Annual Growth Rate (CAGR) of 13.0%.
• Future Projections: The market is poised for continued growth, with an estimated value of $4.74 billion in 2028, anticipating a CAGR of 12.6%. This growth is fueled by factors such as an expanding geriatric pet population, heightened awareness, and the globalization of veterinary services.

Key Drivers of Market Expansion

• Pet Population Surge: The increasing pet population, as evident in the UK, plays a pivotal role in driving market growth. In 2023, 53% of UK adults owned a pet, reflecting a rise from 51% in February 2020. Veterinary practitioners report a 67% increase in pet numbers in the last two years, attributing it to both more pets in clinics and new pets in communities.
• Contributing Factors: Major contributors to the surge include the integration of artificial intelligence (AI) and robotics, continuous technological innovation, a focus on personalized medicine, telemedicine integration, collaborations, and partnerships, along with the rising popularity of cyberknife and linear accelerator (linac) systems.

Key Market Players

• Industry Leaders: Major companies driving the veterinary stereotactic radiosurgery system market include PetCure Oncology, Elekta AB, Accuray Incorporated, Varian Medical Systems Inc., and other significant players.
• Market Segmentation: The market is segmented based on product types (Microsurgical Instrumentation, Optical or Viewing Instruments, Other Products), modality (Gamma Knife, Linear Accelerator, Particle Beam Radiation Therapy, Cyber Knife), application (Canine, Feline, Other Applications), and end-users (Hospitals, Contract Research Organizations (CROs), Other End Users).

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Technological Advancements and Innovations

• Robotic Radiation Therapy: Technological advancements are prominent, with companies like Accuray Incorporated introducing the CyberKnife S7 system. This system offers efficient stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT) treatments within a 15-minute timeframe. It utilizes robotic architecture and Synchrony motion-synchronization technology for real-time customization of radiation administration, addressing various neurological diseases and cancers.
• Siemens Healthineers’ Acquisition: Siemens Healthineers’ acquisition of Varian Medical Systems in April 2021 strengthens its position as a key player in the healthcare sector. Varian Medical Systems, a UK-based company, contributes significantly to the veterinary stereotactic radiosurgery system market.

Market Segmentation and Regional Dynamics

• Segmented Insights: The market segmentation includes products, modalities, applications, and end-users, providing a comprehensive view of the diverse offerings and applications in the veterinary stereotactic radiosurgery system market.
• Regional Dominance: North America emerged as the largest region in the veterinary stereotactic radiosurgery system market in 2023, indicating the prominence of this technology in the region’s veterinary healthcare landscape.

Conclusion: Embracing a Radiant Future
In conclusion, the veterinary stereotactic radiosurgery system market is poised for substantial growth, driven by the surge in pet ownership, technological advancements, and strategic acquisitions. With key players leading the way in innovation and a growing emphasis on personalized medicine, the market is set to become an integral part of the evolving landscape of veterinary healthcare. As the industry continues to unfold, collaboration, innovation, and a focus on minimally invasive procedures will be pivotal in shaping its promising future.

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