Stereotactic Systems Market set to Grow According to Forecast 2018-2026

Stereotactic Systems are mostly used in minimally invasive surgical technique for precisely directing the tip of a delicate instrument or beam of radiation in three-dimensional coordinates to locate target part inside the body and to perform ablation, biopsy, lesion, injection, stimulation, implantation, radiosurgery (SRS), and others. Stereotaxic surgery is mostly used to locate lesions in the brain and deliver radiation therapy for the treatment of Parkinson’s disease.

Rapid innovation in minimally invasive surgery techniques is one of the major factors, which is expected to boost growth of the stereotactic systems market. For instance, in November 2018, Monteris Medical, published the favorable clinical data for its NeuroBlate Laser Ablation after Stereotactic Radiosurgery (LAASR) for patients with brain metastasis in the Journal of Neurosurgery. The NeuroBlate System is a minimally invasive, robotically controlled laser thermotherapy that uses MRI-guided laser light to ablate unwanted tissue in the brain where the lesion originates. Monteris is exclusively focused on advancing both LITT technology and clinical research to serve the unmet needs of neurosurgeons and their patients.

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Furthermore, in December 2017, the U.S. Food and Drug Administration approved GammaPod, new system of Xcision Medical Systems, LLC. GammaPod is a noninvasive stereotactic radiotherapy system intended for treating cancer in breast tissue.

Moreover, in March 2018, Sunway Medical Centre (SunMed), Malaysia’s multi-disciplinary Medical Centre, introduced Leksell Gamma Knife Icon (an advanced radiation machine, which was manufactured by Elekta AB). It is used for the treatment of various neurological disorders and brain conditions that require open brain surgery.

Based on region, North America is projected to gain major share in the stereotactic systems market, owing to expansion of various key players in this region. For instance, in March 2016, Monteris Medical, a privately held company, started developing innovative laser-based MRI-guided neuroablation tools and solutions in its new facility unit in Plymouth, Minnesota. Moreover, increasing prevalence of Parkinson’s disease (PD) creates demand for stereotactic systems for treating the disease, which will in turn boost growth of the market.

For instance, in March 2018, the Parkinson’s Foundation Prevalence Project estimated that about 60,000 Americans are diagnosed with PD each year. This number is predicted to rise to 1.2 million in upcoming years. The combined cost of Parkinson’s disease, including treatment, social security payments, and lost income from inability to work, is estimated to be nearly US$ 25 bn per year in the U.S. alone.

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For instance, in October 2018, Asia Pacific Medical Technology Association (APACMed) in partnership with U.S.-based MedTech Innovator, launched MedTech Innovator Asia. The main objective of MedTech Innovator Asia is to accelerate the growth of the most promising medical device, digital health, and diagnostic startups in the Asia Pacific region.

Key players in the stereotactic system market include Alliance HealthCare Services, Micromar Ind. e Com. LTDA, adeor Medical AG, Monteris Medical, Elekta AB., and inomed Medizintechnik GmbH.