Dublin, Aug. 08, 2023 (GLOBE NEWSWIRE) -- The "CyberKnife Market Size, Share & Trends Analysis and Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global CyberKnife market size is expected to reach over USD 1.78 billion by 2030, registering a CAGR of 18.7% from 2023 to 2030. The market growth is driven by the introduction of new technologically advanced products that reduce the overall time required for the procedure.
Major market players are actively launching their advanced products in both established and emerging markets. They are also expanding their presence in under-developed regions to provide life-saving treatment options. For instance, Accuray Incorporated launched its new CyberKnife system in Africa in September 2022, aiming to offer precise stereotactic radiosurgery and stereotactic body radiation therapy to more patients in the region.
Partnerships and collaborations among key manufacturers are also boosting sales in the CyberKnife market. For example, Accuray collaborated with Brainlab in October 2022 to enhance and expand the capabilities of its CyberKnife platform for the neuro-radiosurgery market, providing access to Brainlab elements planning software to the neuro-radiosurgery community.
Moreover, favorable reimbursement scenarios across different applications are also contributing to the rise in sales. For instance, in October 2022, the Japanese Ministry of Health, Labor, and Welfare approved reimbursement for the cyberKnife system for the treatment of trigeminal neuralgia, providing growth opportunities during the forecast period.
CyberKnife Market Report Highlights
- Cancer dominated the market with the largest revenue share in 2022 due to increasing prevalence and adoption of CyberKnife for this application.
- The vascular malformation segment is predicted to undergo maximum growth owing to new product launches for this application.
- Hospitals accounted for the highest market share in 2022 due to the large number of radiation therapy procedures conducted in these facilities.
- Outpatient facilities are expected to witness the highest growth during the forecast period, driven by advantages such as lower cost and shorter hospital stay.
- North America dominated the market due to the high penetration rate of technologically advanced products and a large patient pool.
- Asia Pacific is experiencing significant growth due to the growing burden of cancer, rising disposable income, and a growing geriatric population in the region.
The report provides detailed insights into the CyberKnife market, offering valuable information to businesses for making strategic decisions in this fast-evolving industry.
Market Dynamics
- Market drivers
- Increasing incidence of cancer
- New product launches
- Increasing preference for non-invasive and minimally invasive procedures
- Market restraints
- High cost of procedures
Company Profiles
- Accuray Incorporated
- Varian Medical Systems
- Koninklijke Philips
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $451.4 Million |
| Forecasted Market Value (USD) by 2030 | $1787.9 Million |
| Compound Annual Growth Rate | 18.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ubx1d
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