On the back of exhaustive research on its efficacy and high success rate, Gamma Knife continues to gain traction among healthcare centres as a highly effective radiosurgery system. Stereotactic radiation therapy equipment revenues account for nearly 10% share of the global radiation therapy equipment revenues in 2013. Linear Accelerator (LINAC) remains the widely used radiation therapy treatment procedure – nearly 50% of patients undergoing radiation therapy were treated using LINAC.
Gamma Knife and Cyber Knife are the two widely used stereotactic radiation therapy procedures. Global Gamma Knife equipment revenues were estimated at US$ 172 million in 2015, and the market is expected to increase at a compound annual growth rate (CAGR) of 9.1% through 2025. The key factors expected to drive adoption of Gamma Knife include: Increase preference toward non- and minimally-invasive procedures, High success rate of Gamma Knife treatment, Positive perception among healthcare providers (over 2,800 peer reviewed journal articles), Focus on developed novel treatment procedures for neurological disorders, Comprehensive health insurance cover for radiation therapy
Although Gamma Knife has proven to be a highly effective treatment option, high cost, low equipment availability, and lack of awareness in developing markets can inhibit adoption. The cost of a Gamma Knife is in the range of US$ 4 Mn to US$ 5 Mn, with additional setup costs of US$ 1 Mn to US$ 2 Mn. Total investment in procuring a machine can add up to US$ 7 Mn. The high cost of Gamma Knife has remained a longstanding challenge, however, it is expected that technological advancement will lead to cost reduction in the future.
Gamma Knife Market Analysis by Disease Indication: Gamma Knife is currently being used in treating a wide range of disease indications. The key disease indications include: Brain metastasis – 68.5% revenue share of the global market, Cancer, AVM (arteriovenous malformation), Trigeminal Neuralgia, Others (pituitary tumour, epilepsy, acoustic neuroma, and Parkinson’s). While brain metastasis will continue to be the leading disease indication for Gamma Knife, the others segment (pituitary tumour, epilepsy, acoustic neuroma, and Parkinson’s) is projected to increase at the highest CAGR during the forecast period.
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Asia Pacific will Pip North America to Become the Largest Gamma Knife Market
On the back of strong adoption in the U.S. healthcare sector, North America has remained the largest market for Gamma Knife. However, during the forecast period 2015-2025, Asia Pacific will emerge as the most lucrative market, driven by robust adoption of Gamma Knife in China, India, Japan, and South Korea. North America’s revenue share will decrease to 25% in 2025, 4% lower than the current revenue share. The Gamma Knife market in Europe will continue to remain steady, with hospitals and clinics in EU5 countries accounting for the bulk of demand. Gamma Knife market in Middle East & Africa (MEA) and Latin America will grow at high CAGR owing to the small base of market in these regions.
Leading Gamma Knife Equipment Manufacturers
Elekta, Varian Medical Systems, and Huiheng Medical, Inc. are the top three Gamma Knife equipment manufacturers. While Elekta and Varian Medical Systems have a strong presence in North America and Europe, China-based Huiheng Medical, Inc. caters mainly to healthcare centres in Asia Pacific. A detailed analysis on the competitive landscape is included in the report.