The report covers forecast and analysis for the Veterinary Stereotactic Radiosurgery market on a global and regional level. The study provides historic data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the Veterinary Stereotactic Radiosurgery market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Veterinary Stereotactic Radiosurgery market on a global level. In order to give the users of this report a comprehensive view on the Veterinary Stereotactic Radiosurgery market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein modality and regional segments are benchmarked based on their market size, growth rate and general attractiveness.
According to the report, global demand for Veterinary Stereotactic Radiosurgery Market was valued at approximately USD 1924.22 Million in 2018, and is expected to generate revenue of around USD 4095.34 Million by end of 2025, growing at a CAGR of around 11.45% between 2018 and 2025.
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The study provides a decisive view on the Veterinary Stereotactic Radiosurgery market by segmenting the market based on Type, Modality, Product and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. Based on the Modality segment, the market is bifurcated Cyber Knife, Gamma Knife, LINAC, PBRT and Others. In 2018, Particle Beam Radiation Therapy (PRBT) held the largest revenue share in the market. Some of the primary growth drivers for the segment are advantages such as reduced irradiation for healthy tissue and effective treatment even with low radiation dose. According to a 2018 article in the Journal of Hematology & Oncology, Proton Beam Therapy for Cancer in the Age of Precision Medicine, PRBT delivers the radiation dose on a tumor cell and deliberates to the surrounding tissue and organs with very little or no irradiation effect. The treatment results in maximum control of the tumor and ultimately reduces the toxicity of the tumor. Thanks to its increased adoption for veterinary use, LINAC-based stereotactic radiosurgery therapy adopted PBRT. In 2017, the Veterinary CyberKnife Cancer Center constructed a linear Varian accelerator for cancerous tumor treatment of dogs. To irradiate various forms of cancer, the mounted LINAC system supplemented the CyberKnife software. Increasing the use of the LINAC-based radiosurgery system as an animal treatment method fosters the development of the demand for veterinary stereotactic radiosurgery system.
The geographical segmentation comprises the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the market over the forecast period, owing to the increasing incidence of cancer in the pet population, increasing pet companionship along with an increase in willingness to spend on their pets, and government initiatives to treat SRT. The involvement of non-profit organizations such as APPA catering to pet products and services needs and interests further drive regional market growth.
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Increasing research studies to test the safety and efficacy of SRT in animals are also driving North America's market growth. In terms of revenue over the forecast period, Europe's market for veterinary stereotactic radiosurgery systems is expected to be the second largest regional segment. Government R&D initiatives and the establishment of new centers to carry out veterinary radiation oncology research activities are the factors expected to fuel growth. Asia Pacific had the third largest market share in 2018 and is expected to see significant growth over the forecast period due to increased awareness of various pet treatment methods, a willingness to spend more on veterinary health, and an increasing number of animal health awareness programs. Due to the increasing incidence of euthanasia and pet subscription, the Middle East and Africa held a very small market share of SRT treatment, and despite economic and political issues in the region, the pet industry remains resilient over the years.
The Veterinary Stereotactic Radiosurgery market is oligopolistic in nature. Key players within global Veterinary Stereotactic Radiosurgery market include Accuray, Elekta AB, PetCure Oncology, and Varian Medical Systems amongst others.
The report segments global Veterinary Stereotactic Radiosurgery market as follows:
Global Veterinary Stereotactic Radiosurgery Market: Modality Segment Analysis
- Cyber Knife
- Gamma Knife
- LINAC
- PBRT
- Others
Global Veterinary Stereotactic Radiosurgery Market: Regional Segment Analysis
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Middle East and Africa
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