Stereotactic surgery devices market is expected to grow over the forecast period owing to the increasing demand for minimally invasive surgery. Minimally invasive surgeries are gradually being preferred more by the global population as it contributes various advantages to the patients over traditional surgeries, such as quick recovery, low mortality & morbidity, and shorter duration hospital stay. Rising adoption for neurosurgeries by the patients suffering from Parkinson’s disease, epilepsy, and arteriovenous malformations is anticipated to further drive the market growth over the coming seven years. Further, stereotactic surgeries are prescribed for the treatment and diagnosis of these diseases due to the rising prevalence of these diseases and thus is a high impact rendering driver for the market. As geriatric population are prone towards various neurological diseases, so increasing base of this population base is anticipated to boost the market growth. Furthermore, growing patient awareness levels, increasing prevalence of lifestyle induced diseases such as diabetes & obesity are few other drivers which are expected to boost the stereotactic surgery devices market.
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As of 2014, Parkinson disease held the largest market share owing to its high preference of stereotactic surgery over the conventionally operated levodopa therapy in the treatment of this disorder. Factors such as long term compilation attached to levodopa therapy, has directly led to spurred use of stereotactic surgeries. Epilepsy disease segment is expected to witness lucrative growth over the forecast period owing to the safe treatment of the vital organs of the head such as the brain stem through minor lesions.
Geographically, North America dominated the entire market in 2014, in light to the technological advancement level in this region. Furthermore, high patient awareness is expected to further drive the growth of this region. Asia pacific region is anticipated to witness lucrative growth rate over the forecast period owing to the developing economies of India and China. Increasing population, rising awareness among patients and various initiatives by healthcare organizations and government bodies is expected to further boost the market growth.
The key market players in this market are Alliance Oncology, Micromar, Monteris Medical, Adeore Medical AG, Elekta AB and Inomed. The market is highly competitive in nature, so the companies are focusing on various new strategies such as new product development, merger & acquisitions, and expanding their operation in the new countries for maintaining their foothold in the market.
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