Global Stereotactic Surgery Devices Market By Product (Gamma Knife, PBRT, LINAC, and CyberKnife), By Application (Liver, Prostate, Lung, Breast, Colon, and Others), Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033

Report Overview

Global Stereotactic Surgery Devices Market size is expected to be worth around USD 40.5 billion by 2033 from USD 27.1 billion in 2023, growing at a CAGR of 4.1% during the forecast period 2024 to 2033.

Increasing demand for precise and minimally invasive surgical procedures drives the growth of the stereotactic surgery devices market, particularly in neurosurgery, oncology, and pain management. Surgeons increasingly utilize these devices for their ability to enhance targeting accuracy during interventions, which significantly reduces risks associated with traditional surgical methods. The rise in neurological disorders and the growing incidence of cancer contribute to the heightened need for effective treatment options.

Recent advancements in imaging technologies, such as Computed Tomography (CT) and Magnetic Resonance Imaging (MRI), have also improved surgical planning and execution. In January 2023, GE HealthCare announced its intention to acquire IMACTIS, a leader in CT interventional guidance, further solidifying its position in the market. IMACTIS, established in 2009, pioneered CT-Navigation technology, which offers ergonomic, universal solutions for stereotactic needle guidance, facilitating intuitive pre-planning and continuous monitoring across various procedures.

This acquisition highlights a trend toward integrating innovative technologies that streamline surgical workflows and enhance patient outcomes. Additionally, the growing focus on personalized medicine opens new opportunities for tailored stereotactic procedures, further propelling market expansion.

Key Takeaways

• Market Size: Stereotactic Surgery Devices Market size is expected to be worth around USD 40.5 billion by 2033 from USD 27.1 billion in 2023.
• Market Growth: The market growing at a CAGR of 4.1% during the forecast period 2024 to 2033.
• Product Analysis: The PBRT segment dominating the market in 2023, claiming a market share of 44.2%
• Application Analysis: The breast held a significant share of 39.7% in 2023.
• Regional Analysis: In 2023, North America dominated the market with the highest revenue share of 39.2%.
• Technological Advancements: Innovations in imaging and robotics technology enhance the accuracy and outcomes of stereotactic procedures, encouraging adoption.
• Key Drivers: Increased healthcare investment, along with the rising demand for targeted therapies, is fueling market growth.

By Product Analysis

The PBRT segment led in 2023, claiming a market share of 44.2% owing to the increasing adoption of advanced radiation therapies for cancer treatment. PBRT offers precise targeting of tumors while sparing surrounding healthy tissue, which is anticipated to significantly enhance treatment outcomes for patients with complex cancer cases.

The rise in cancer incidence globally and the growing emphasis on personalized medicine are likely to propel the demand for more effective and less invasive therapeutic options. Technological advancements in PBRT systems, including improved imaging and treatment planning capabilities, are projected to make these devices more accessible and user-friendly for healthcare providers.

Additionally, the ongoing research into the clinical efficacy of PBRT is expected to further validate its use, encouraging more hospitals and cancer treatment centers to incorporate these systems into their facilities. As awareness of the benefits of PBRT continues to grow, this segment is likely to become increasingly prominent in the market.

By Application Analysis

The breast held a significant share of 39.7% due to the rising incidence of breast cancer and the increasing demand for minimally invasive surgical options. Enhanced awareness of early detection and the effectiveness of stereotactic techniques in targeting breast tumors contribute to this segment’s expansion. Advances in imaging technology, such as 3D mammography and MRI-guided procedures, are expected to improve diagnostic accuracy and patient outcomes, thus driving adoption rates.

Furthermore, the focus on personalized treatment plans tailored to individual patient needs is anticipated to enhance the utilization of stereotactic devices in breast applications. As healthcare providers continue to emphasize the importance of timely intervention and effective treatment methodologies, the growth of this segment is likely to accelerate, reflecting broader trends in cancer care and surgical innovation. The integration of these technologies into comprehensive breast care programs will further solidify their importance in the evolving landscape of oncology.

Key Market Segments

By Product

• Gamma Knife
• PBRT
• LINAC
• CyberKnife

By Application

• Liver
• Prostate
• Lung
• Breast
• Colon
• Others

Drivers

Growing Prevalence of Cancer Drives Market Growth

Increasing prevalence of cancer significantly drives the stereotactic surgery devices market. As cancer cases rise globally, healthcare providers seek innovative treatment options that minimize invasiveness while maximizing efficacy. Stereotactic surgery, particularly for brain tumors, has gained traction due to its precision and ability to deliver targeted therapy.

For instance, the 2023 ESTRO congress featured over 55 abstracts on Accuray technologies, further solidifying the clinical evidence supporting their effectiveness in providing ultra- and hypofractionated radiation treatments for various cancer types. This growing body of evidence highlights the potential of stereotactic systems to improve patient outcomes, leading to an anticipated increase in demand for these advanced treatment modalities. Consequently, the ongoing rise in cancer diagnoses is expected to bolster the market for stereotactic surgical equipment and solutions.

Restraints

High Costs Restrain Market Expansion

High costs associated with equipment and procedures significantly restrain the growth of the stereotactic surgery devices market. The substantial investment required for purchasing advanced surgical systems poses financial challenges, particularly for smaller healthcare facilities and those in developing regions. These high expenses not only include the initial purchase price but also encompass maintenance, training, and operational costs, which can deter healthcare providers from adopting new technologies.

Additionally, patients may face barriers due to limited insurance coverage for these advanced procedures, further hampering access. As a result, this financial burden is expected to impede the overall expansion of the market, preventing many facilities from incorporating cutting-edge stereotactic technologies into their treatment offerings.

Opportunities

Surge in Development of New Products Creates Opportunities

Growing development of new products presents significant opportunities for the stereotactic surgery devices market. Continuous technological advancements drive innovation, leading to more effective and precise treatment options for patients with complex conditions. For example, in August 2022, Elekta announced that its Elekta Esprit, a new Leksell Gamma Knife radiosurgery platform, achieved CE certification.

This regulatory milestone marks a crucial step in making this state-of-the-art device available to patients with brain disorders across Europe and other regions recognizing the CE mark. The Esprit platform enhances treatment accuracy with submillimeter precision and rapid treatment planning in under 60 seconds, allowing for targeted therapy that minimizes damage to healthy tissue.

As manufacturers focus on developing next-generation devices that address evolving patient needs, the market is projected to experience robust growth driven by the introduction of innovative surgical solutions.

Impact of Macroeconomic / Geopolitical Factors

Macroeconomic and geopolitical factors play a crucial role in shaping the market for targeted surgical interventions. Economic challenges, such as recession and inflation, often lead to constrained healthcare budgets, resulting in reduced investments in advanced surgical technologies. Fluctuating currency exchange rates may affect the cost of importing essential components, increasing the financial burden on manufacturers.

Geopolitical instability can disrupt global supply chains, leading to delays in the delivery of critical devices and components. Conversely, increasing government initiatives aimed at enhancing healthcare infrastructure and promoting advanced surgical techniques foster market growth. Moreover, the rising prevalence of neurological disorders and cancer fuels demand for precise treatment options.

Overall, despite the challenges posed by economic and geopolitical dynamics, the focus on improving patient outcomes through advanced surgical solutions presents a positive outlook for the industry.

Latest Trends

Rise in Partnerships and Collaborations

Growing partnerships and collaborations are expected to drive significant growth in the market for precision surgical technologies. Companies actively seek strategic alliances to enhance their capabilities and innovate more effectively. These collaborations facilitate the sharing of expertise, resources, and technological advancements, ultimately leading to the development of cutting-edge surgical solutions.

For example, in 2021, Philips and Elekta strengthened their strategic partnership to promote precise and personalized oncology care. This collaboration built on their successful work in magnetic resonance (MR)-guided adaptive radiation therapy, a rapidly evolving area in cancer treatment. As organizations continue to form partnerships, the market is likely to witness enhanced product offerings and improved treatment methodologies, ultimately benefiting healthcare providers and patients alike.

Regional Analysis

North America is leading the Stereotactic Surgery Devices Market

North America dominated the market with the highest revenue share of 39.2% owing to various factors that underscore the increasing importance of precision surgical techniques. The rising prevalence of neurological disorders, particularly epilepsy, has been a major contributor.

According to data from the National Institute of Neurological Disorders and Stroke published in 2022, approximately 2.3 million adults in the U.S. live with epilepsy, with an estimated 150,000 new diagnoses each year. This escalating incidence rate directly influences the demand for stereotactic surgeries, thereby propelling the need for advanced surgical devices.

Furthermore, advancements in imaging technologies and robotic-assisted surgery have enhanced the accuracy and efficacy of stereotactic procedures, attracting more healthcare facilities to adopt these technologies. The growing focus on minimally invasive techniques also aligns with patient preferences for reduced recovery times and improved outcomes. Overall, these factors have created a favorable environment for the growth of the market in North America.

The Asia Pacific region is expected to experience the highest CAGR during the forecast period

In the Asia Pacific region, the market for stereotactic surgery devices is expected to experience substantial growth during the forecast period. The increasing prevalence of neurological conditions, coupled with a growing awareness of advanced surgical options, is anticipated to drive demand. Significant investments in healthcare infrastructure across countries like India, China, and Japan are likely to enhance access to cutting-edge surgical technologies.

Additionally, the region’s expanding elderly population contributes to the rising incidence of disorders requiring surgical intervention. The ongoing development of innovative devices designed for enhanced precision and safety is projected to further stimulate market growth.

Furthermore, collaborations between technology firms and healthcare providers are likely to accelerate the adoption of stereotactic surgery techniques. As awareness of the benefits of minimally invasive procedures continues to rise, the demand for advanced surgical solutions in the Asia Pacific region is expected to flourish.

Key Regions and Countries

North America

• US
• Canada

Europe

• Germany
• France
• The UK
• Spain
• Italy
• Russia
• Netherland
• Rest of Europe

Asia Pacific

• China
• Japan
• South Korea
• India
• Australia
• New Zealand
• Singapore
• Thailand
• Vietnam
• Rest of APAC

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• South Africa
• Saudi Arabia
• UAE
• Rest of MEA

Key Players Analysis

The major players in the Stereotactic Surgery Devices market are actively engaged in the development and introduction of innovative products, as well as implementing strategic initiatives aimed at enhancing their competitive positioning. Key players in the stereotactic surgery market pursue growth by emphasizing technological advancements and precision in their offerings.

They allocate substantial resources to research and development, focusing on enhancing imaging technologies and developing accurate targeting systems. Collaborating with healthcare providers and research institutions allows them to validate their innovations and improve clinical adoption rates.

Companies also engage in mergers and acquisitions to broaden their product lines and strengthen their competitive edge in the market. Additionally, they target emerging markets by adapting their solutions to meet regional healthcare needs and expanding their distribution networks.

Top Key Players

• Varian Medical Systems, Inc.
• Renishaw plc
• Monteris Medical Corporation
• Medtronic plc
• GE Healthcare
• Elekta
• Brainlab AG
• Alliance Oncology
• Accuray Incorporated

Recent Developments

• In May 2023, Monteris Medical Corporation secured substantial financing from its venture capital investors to advance the development and commercialization of its innovative stereotactic surgery devices. This influx of funding is expected to facilitate the introduction of cutting-edge technologies into the market, potentially driving growth in the stereotactic surgery devices sector by enhancing treatment options and improving patient outcomes.
• In May 2023, Accuray Incorporated showcased its latest generation Radixact System, which incorporates the CyberKnife and TomoTherapy platforms. The presentation of this advanced system highlights the ongoing innovations in stereotactic surgery technologies, which can lead to increased adoption rates among healthcare providers and contribute to market expansion.
• In April 2022, Elekta and GE Healthcare announced a commercial collaboration agreement to provide hospitals with a comprehensive solution that integrates imaging and treatment for cancer patients requiring radiation therapy. This partnership is relevant to the growth of the stereotactic surgery devices market, as it promotes the development of integrated systems that enhance the precision and effectiveness of treatment modalities, thereby encouraging broader utilization in clinical settings.

Report Scope