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The radiosurgery and radiotherapy robotics market size is estimated to grow at a CAGR of 5.49% between 2022 and 2027. The market size is forecast to increase by USD 879.88 million. The growth of the market depends on several factors such as an increase in cancer cases and retreatments, a rise in product innovations in radiosurgery and radiotherapy robotic systems, and the developments in reimbursement procedures. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
This report extensively covers market segmentation by type (X-ray-based and gamma-ray-based), end-user (hospitals, clinics, and independent radiotherapy centers), and geography (North America, Europe, APAC, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges.
Radiosurgery and Radiotherapy Robotics Market Forecast 2023-2027
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Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
A growing number of physicians and hospitals that specialize in oncology treatments are expected to adopt radiosurgery and radiotherapy for the treatment of lesions and tumors. Another major driver, especially for radiosurgery, is the rise in the cases of retreatment and relapse, which makes radiosurgery a preferred choice as it involves a precise dose distribution, thus limiting the exposure of healthy tissues to excessive radiation.
Furthermore, treatments with the latest linear accelerators like CyberKnife System are non-invasive, accurate, and without the requirement of frames or fiducial markers. Consequently, an increase in cancer cases and retreatments is expected to fuel the growth of the global radiosurgery and radiotherapy robotics market during the forecast period.
Extracranial radiosurgery is expected to gain traction as a new treatment option to treat tumors of the liver, lung, and spine and other complicated cases. CyberKnife technology is especially useful in treating tumors with sub-millimeter precision. Moreover, other treatments require metal frames for tumors of the brain, head, neck, and body casts to limit movement during treatments of the lung, liver, pancreas, and kidney.
Furthermore, robotic systems like CyberKnife have the ability to conduct radiosurgery without the requirement of any restricting frames while ensuring greater accuracy in targeting a moving tumor. Therefore, increasing the use of extracranial radiosurgery treatments will positively impact the growth of the global radiosurgery and radiotherapy robotics market during the forecast period.
The end-users are gradually adopting robotic treatments in the healthcare sector across the globe. Advances in robotic medical systems have increased the price of these devices, making treatments unaffordable for most patients in developing economies. For instance, gamma-ray-based radiosurgery and radiotherapy robots cost USD 4.5 million to USD 5.4 million and require additional maintenance and installation charges, which can go up to USD 2 million per annum.
Likewise, reimbursement rates vary and are not often significant when compared with laparoscopic procedures and other minimally invasive surgery (MIS) procedures. Thus, the high cost of these robots and relatively fewer reimbursements provided to hospitals to invest in these robots will limit the demand for radiosurgery and radiotherapy robots in emerging markets and, in turn, will hinder the growth of the global radiosurgery and radiotherapy robotics market during the forecast period.
The X-ray-based segment will account for a major share of the market's growth during the forecast period.? The growth of the X-ray-based radiosurgery and radiotherapy robotics segment will surge due to the contribution made by APAC countries such as China, India, and Japan. In China, the growth will be mainly driven by the expansion of global market players into APAC to meet the demand for radiotherapy. The prevalence of healthcare reforms, which increase medical insurance for citizens and ensure access to healthcare in rural areas, are significant factors that will drive the market in China and India. Over the years, the competition among leading players has intensified, and this has led to the exit of former key players.
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The X-ray-based segment was valued at USD 2,103.02 million in 2017. To maintain a competitive advantage and leadership position, market players are undertaking initiatives to improve their product offerings. The initiatives include entering into partnerships with other players in related technologies, such as imaging, to enhance precision in delivering offerings. Market players are also taking initiatives to improve their distribution channels by forming better relationships with OEMs and suppliers. Thus, such factors will drive the growth of the global radiosurgery and radiotherapy robotics market through the X-ray-based segment during the forecast period.
Based on end-user, the market has been segmented into hospitals, clinics, and independent radiotherapy centers. The hospitals?segment will account for the largest share of this segment.?Hospitals have the necessary resources to invest in high-tech radiosurgery and robotic radiotherapy systems. They often have dedicated oncology departments or cancer centers that specialize in providing these treatments. The adoption of radiosurgery and radiotherapy robotics in hospitals offers several benefits. Furthermore, advancements in technology and the introduction of new robotic platforms are driving the adoption of these systems in hospitals, which will drive the growth of the global radiosurgery and radiotherapy robotics market via the hospital segment during the forecast period.
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North America is estimated to contribute 43% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The US is a significant revenue contributor to the radiosurgery and radiotherapy robotics market in the North American region. The implementation of the Affordable Care Act is rapidly changing the business environment of non-invasive surgery devices in the US. Manufacturers are focusing on developing innovative non-invasive technologies to provide early diagnosis of diseases and effective treatment strategies.
Moreover, in the US, market players will also prioritize enhancing their lifecycle services, aftermarket offerings, and provision of additional software as a part of their suites and new product launches to attain a competitive advantage. Furthermore, in Canada, several healthcare schemes are offered by the government and private organizations. Thus, such factors will drive the growth of the radiosurgery and radiotherapy robotics market in North America during the forecast period.
The outbreak of COVID-19 in 2020 had a negative impact on the radiosurgery and radiotherapy robotics market in the North American region. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Moreover, the rising prevalence of cancer in the region, increasing adoption of advanced radiotherapy techniques, advances in robotic technology, government initiatives to enhance cancer care, and a rising number of partnerships and collaborations between healthcare providers and robotics manufacturers will further boost the growth of the radiosurgery and radiotherapy robotics market in the region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Best Medical International Inc., Brainlab AG, Elekta AB, Hitachi Ltd., Intuitive Surgical Inc., Medtronic Plc, Neusoft Corp., Panacea Medical Technologies Pvt. Ltd., PMB Alcen, Reid Health, Remebot, Roper Technologies Inc., Siemens Healthineers AG, Smith and Nephew plc, Stryker Corp., ViewRay Inc., and ZAP Surgical Systems, Inc.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The radiosurgery and radiotherapy robotics market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Radiosurgery And Radiotherapy Robotics Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.49% |
Market growth 2023-2027 |
USD 879.88 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.42 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 43% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accuray Inc., Best Medical International Inc., Brainlab AG, Elekta AB, Hitachi Ltd., Intuitive Surgical Inc., Medtronic Plc, Neusoft Corp., Panacea Medical Technologies Pvt. Ltd., PMB Alcen, Reid Health, Remebot, Roper Technologies Inc., Siemens Healthineers AG, Smith and Nephew plc, Stryker Corp., ViewRay Inc., and ZAP Surgical Systems, Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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