Veterinary Stereotactic Radiosurgery System Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032
Market Report I 2024-09-03 I 110 Pages I Global Market Insights
The Global Veterinary Stereotactic Radiosurgery System Market was valued at over USD 412 million and is projected to grow at a CAGR of 9.3% from 2024 to 2032. Drivers include the increasing focus on advancing cancer care and research for animals.
Innovations in diagnostic and treatment technologies, such as AI-driven systems and advanced radiation therapies, enhance the precision and effectiveness of veterinary oncology. This propels the demand for advanced systems. Pet owners and veterinary practices seek innovative solutions for cancer management, fueling the demand for specialized equipment and services.
The market is segmented into linear accelerators (Linac), CyberKnife, and gamma knife. In 2023, the Linac segment generated revenue of USD 199.3 million. Linac systems excel in delivering targeted radiation therapy for various tumors, including brain and spinal tumors.
Advanced imaging and treatment capabilities make Linac systems ideal for a wide range of veterinary oncology applications. Their widespread adoption in veterinary hospitals and specialty clinics, driven by proven effectiveness and ongoing technological advancements, solidifies the Linac segment's top position in the market.
Based on application, the veterinary stereotactic radiosurgery system market is categorized into brain tumors, spinal tumors, and other applications. In 2023, the brain tumors segment commanded a dominant market share of 59%, a trend anticipated to persist throughout the analysis period.
Utilizing the stereotactic radiosurgery system for these tumors ensures a precise, non-invasive treatment approach, significantly reducing harm to adjacent healthy tissues. The high incidence of brain tumors in veterinary practices underscores the demand for advanced stereotactic radiosurgery technologies, tailored specifically for managing these tumors.
In 2023, the U.S. led the North American veterinary stereotactic radiosurgery system market with a valuation of USD 152 million. The U.S. dominance stems from its state-of-the-art veterinary healthcare infrastructure and a swift embrace of innovative technologies.
Numerous specialized veterinary hospitals and research institutions in the U.S. leverage stereotactic radiosurgery systems to address intricate cancer cases in pets. The presence of major technology providers and ongoing innovations in veterinary oncology bolster the U.S. market leadership. High rates of pet ownership and a readiness to invest in advanced treatments further fuel this demand.
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Research design
1.2.1 Research approach
1.2.2 Data collection methods
1.3 Base estimates & calculations
1.3.1 Base year calculation
1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
1.5.1 Primary sources
1.5.2 Data mining sources
Chapter 2 Executive Summary
2.1 Industry 360 synopsis
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing animal population and ownership rates
3.2.1.2 Rising cancer incidences among animals
3.2.1.3 Advancements in technology for diagnosing and treating cancer
3.2.1.4 Heightened awareness regarding early diagnosis and treatment
3.2.2 Industry pitfalls & challenges
3.2.2.1 High treatment costs
3.2.2.2 Scarcity of stereotactic radiosurgery systems
3.2.2.3 Stringent regulatory standards and approval procedures
3.3 Growth potential analysis
3.4 Regulatory landscape
3.5 Porter's analysis
3.6 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company matrix analysis
4.3 Competitive analysis of major market players
4.4 Competitive positioning matrix
4.5 Strategy dashboard
Chapter 5 Market Estimates and Forecast, By Product, 2021 - 2032 ($ Mn)
5.1 Key trends
5.2 Linear accelerators (Linac)
5.3 CyberKnife
5.4 Gamma knife
Chapter 6 Market Estimates and Forecast, By Application, 2021 - 2032 ($ Mn)
6.1 Key trends
6.2 Brain tumors
6.3 Spinal tumors
6.4 Other applications
Chapter 7 Market Estimates and Forecast, By End-user, 2021 - 2032 ($ Mn)
7.1 Key trends
7.2 Veterinary hospitals
7.3 Veterinary clinics
7.4 Other end-users
Chapter 8 Market Estimates and Forecast, By Region, 2021 - 2032 ($ Mn)
8.1 Key trends
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 France
8.3.4 Spain
8.3.5 Italy
8.3.6 Netherlands
8.3.7 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 South Korea
8.4.6 Rest of Asia Pacific
8.5 Latin America
8.5.1 Brazil
8.5.2 Mexico
8.5.3 Rest of Latin America
8.6 Middle East and Africa
8.6.1 Saudi Arabia
8.6.2 South Africa
8.6.3 UAE
8.6.4 Rest of Middle East and Africa
Chapter 9 Company Profiles
9.1 Accuray Incorporated
9.2 Elekta AB
9.3 Varian Medical Systems
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