The global veterinary stereotactic radiosurgery system market size is anticipated to reach USD 5.71 billion by 2030, according to a new report published by Grand View Research, Inc. It is expected to expand a CAGR of 10.4% from 2024 to 2030. Rising prevalence of cancer in pets coupled with rising pet ownership and pet owners’ willingness to spend on pet health is expected to drive the market.
According to the Animal Cancer Foundation in 2018, approximately 85% to 98% of primary bone tumors in dogs are osteosarcoma, which is similar to childhood and adolescent osteosarcoma in humans. This disease requires urgent and effective treatment like Stereotactic Radiosurgery (SRS). High prevalence of such diseases is anticipated to drive the growth of the market. Technological advancements in veterinary stereotactic radiosurgery systems coupled with their advantages of Stereotactic Radiotherapy (SRT) over conventional curative radiation therapy are anticipated to further propel the growth. The surgery increases canine survival rate in canines, is further fueling the market growth. For instance, the American College of Veterinary Radiology published a study titled, Safety and Feasibility of Stereotactic Radiotherapy Using Computed Portal Radiography for Canine Intracranial Tumors in 2017. The study concluded that dogs with neurological diseases treated with SRT had a median survival time of 361 days.
The players operating in the veterinary stereotactic radiosurgery system market are collaborating with veterinary professionals and hospitals, in an attempt to increase awareness pertaining to stereotactic radiosurgery system. For instance, in September 2017, SAGE veterinary specialty and emergency animal hospital in Campbell, partnered with PetCure Oncology. The hospital used Halcyon machine, engineered by Varian Medical Systems and also delivered the first SRT treatment to dogs.
Particle Beam Radiation Therapy (PBRT) accounted for the largest market share in terms of revenue in 2023, owing to increasing adoption of the product in for neuroscience research in animals
The LINAC (linear accelerator) systems segment dominated the market and accounted for a share of 53.6% in 2023
North America held the dominant market share in 2023, due to the factors, such as favorable government policies, new product launches, and rising investment in pet cancer diagnostics
Latin America is anticipated to witness lucrative growth due to rising pet population, adoption of companion animals coupled with urgent need for effective cancer treatment for pets
Grand View Research has segmented the global veterinary stereotactic radiosurgery system market report based on product, end use, and region
Veterinary Stereotactic Radiosurgery System Product Outlook (Revenue, USD Million, 2018 - 2030)
Gamma Knife
LINAC
Proton Beam Radiation Therapy (PBRT)/ Flash-RT
CyberKnife
Veterinary Stereotactic Radiosurgery System End Use Outlook (Revenue, USD Million, 2018 - 2030)
Hospitals & Clinics
Academic & Research Institutions
Veterinary Stereotactic Radiosurgery System Regional Outlook (Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Asia Pacific
Japan
China
India
Australia
South Korea
Thailand
Latin America
Brazil
Argentina
Italy
Spain
Denmark
Sweden
Norway
Middle East and Africa (MEA)
South Africa
Saudi Arabia
UAE
Kuwait
List of Key Players of Veterinary Stereotactic Radiosurgery System Market
Elekta
Accuracy Incorporated
Varian Medical Systems, Inc.
ALCEN
Xstrahl