Gamma Knife Market Size

Gamma Knife Market Size

Gamma Knife Market size was valued at around USD 479 million in 2022 and is estimated to reach over USD 921 million by 2032. This market revenue is attributable to the various factors comprising the increasing prevalence of neurological disorders, expanding applications, rising investment in healthcare infrastructure, and technological advancements among others.

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The rising incidence of brain tumors, arteriovenous malformations (AVMs), and other neurological conditions has contributed to the growth of the market. As per the American Society of Clinical Oncology, in 2020, an estimated 308,102 people were diagnosed with a primary brain or spinal cord tumor worldwide. Gamma knife radiosurgery is a non-invasive treatment option that has gained popularity due to its effectiveness and minimal side effects.
 

Patients and healthcare providers are increasingly preferring minimally invasive treatment options that offer shorter recovery times and reduced risks compared to traditional open surgeries. Furthermore, governments and healthcare organizations are investing in upgrading their healthcare infrastructure, including the installation of advanced medical equipment. This has created opportunities for the market, as hospitals and specialized clinics emphasizing investing in gamma knife systems to provide state-of-the-art treatment options for their patients.

Gamma Knife is a non-invasive medical device used in stereotactic radiosurgery (SRS) to treat certain brain conditions and disorders. It is a precise and highly focused radiation therapy system designed to deliver a concentrated dose of gamma rays to a specific target within the brain.

However, the changing regulations related to medical equipment may act as a barrier to the  market progression. Several organizations and governments dictate guidelines and rules for the safer and more effective employment of such devices. The regulatory changes may lead to penalties and loss of market access in a global marketplace. New medical devices regulations from the European Union (EU), Canada, and the U.S. were implemented simultaneously that impacted the companies' bottom lines. The International Organization for Standardization (ISO), the European Union (EU), and a group of countries have adopted the Medical Device Single Audit Program (MDSAP).

This MDSAP has several disadvantages such as regulatory bodies that are permitted to conduct unannounced inspections based on problems, they spotted comprising recalls, significant complaints as well as special audits. Some organizations have full time staff to assist with inspections and audits that become stressful for the companies, thereby increasing the complexity of the product approval procedure.