In the implausible time of COVID-19, Market Research Future has come with the latest study on the Global Stereotactic Surgery Devices Market 2020. The survey surrounded the impression of COVID-19 on the economy. On this, MRFR reveals the global market formerly achieved a valuation of USD 16.59 billion in 2017 that would scale up to more, as speculated. The valuation could accomplish while at a velocity of 5.2% growth rate. The evaluation of the market’s growth would take from 2018–2023, which is the forecasted period.
Stereotactic Surgery Devices Boomers & Decliners
The upward preference of surgeons worldwide for minimally invasive surgery is the chief driver of this market, as it offers several benefits to the patients from quick recovery, mortality to morbidity. With this, the pervasiveness of arteriovenous malformations, Parkinson’s disease, and epilepsy are also promoting the adoption of stereotactic surgery for neurosurgeries. Such a factor is also expected to increment the demand for these devices appreciably during the forecast period.
MRFR further explains that rising geriatric population across the globe, diseases caused by changing lifestyles such as increasing demand for enhanced drugs, diabetes and obesity, and increasing awareness among the patients are some of the other factors favoring the development of the global stereotactic surgeries devices for the future scope.
At the same time, Parkinson’s disease at this time serves the utmost demand in this market as far as disease type segment is alarmed, which is an indication of escalating inclination of stereotactic surgeries above traditional levodopa therapy, which often left to long-term complications into the patients. This factor also leads to the market’s growth during the COVID 19 situation and for the forecast period as well.
Furthermore, with robust healthcare facilities and a high adoption rate of new technology, countries such as the U.S. and Canada in North America are making the most rewarding region for the players in this market. Nevertheless, Asia Pacific is projected to increment the demand for stereotactic surgery devices at the most high-flying rate during the forecast period owing to improving healthcare infrastructure in emerging economies such as India, Japan, Malaysia, China, and South Korea.
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The study strives to assess the current and future growth prospects of the global stereotactic surgery devices market through segmentation, which is as follows—
The global market, by the product type segment, has included Linear accelerators (LINAC), gamma knife, cyberknife, and proton beam therapy. Among these, the linear accelerators (LINAC) segment is expected to grab the largest market share owing to the mounting adoption rate and installations. Furthermore, cyberknife might be the fastest-growing segment over the assessment period owing to its rising popularity in the developing economies.
By the segment of the application, the market has included arteriovenous malformations, brain tumors, epilepsy, Parkinson’s disease, and others.
Geographically, the report is studied among essential regions such as Europe, North America, and Asia-Pacific.
The Americas anticipate leading the global stereotactic surgery devices market owing to the upward prevalence of neurological diseases, high disposable income, and the occurrence of developed healthcare infrastructure. As per the National Organization for rare Diseases, around 10,000-15,000 new cases of trigeminal neuralgia take place each year in the US.
Europe also might grab the second-largest position in the global stereotactic surgery devices market that is attributed to the escalating occurrences of brain diseases and the presence of a developed healthcare sector.
The stereotactic surgery devices market in the Asia-Pacific region includes countries namely India, Japan, Republic of Korea, China, Australia, and Rest of Asia-Pacific. The Asia-Pacific region is expected to be the fastest-growing region owing to the emergent prevalence of brain-related diseases and endlessly budding healthcare sector.
In the last, the Middle East & Africa has the least share of the market. The majority of the market share here is expected to be held by the Middle East region owing to well-developed healthcare industry and mounting government initiatives for the healthcare sector.
The global stereotactic surgery devices market exhibits substantial competition between the leading companies such as Huiheng Medical, Inc., Koninklijke Philips N.V., GE Healthcare, Mitsubishi Heavy Industries, Ltd., Accuray, Inc., Hitachi Medical Systems, Shinva Medical Instrument Co., Ltd and Elekta AB. These are some of the key vendors in the global stereotactic surgery devices market.