The global Veterinary Stereotactic Radiosurgery System market size is expected to be worth around US$ 4.7 billion by 2028, according to a new report by Vision Research Reports.
The global Veterinary Stereotactic Radiosurgery System market size was valued at US$ 1.12 billion in 2020 and is anticipated to grow at a CAGR of 11.8% during forecast period 2021 to 2028.
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.
Particle Beam Radiation Therapy (PRBT) held the largest market share in terms of revenue in 2020. Advantages, such as minimal irradiation to the healthy tissues and effective treatment even with low radiation dosage are some of the key growth drivers for the segment. According to a published article Proton Beam Therapy for Cancer in the Era of Precision Medicine in the Journal of Hematology & Oncology in2018, PRBT delivers the radiation dose on a tumor cell and deliberates very less or no irradiation effect to the surrounding tissue and organs. The treatment results in maximum tumor control and decreases tumor toxicity to an extreme extent.
LINAC based stereotactic radiosurgery treatment followed PBRT, owing to its increased adoption for veterinary use. In 2017, Veterinary CyberKnife Cancer Center installed Varian linear accelerator for pet treatment with a cancerous tumor. The installed LINAC system complemented the CyberKnife technology, to irradiate multiple forms of cancer. Increasing adoption of the LINAC based radiosurgery system as a method of treatment for animals is fostering the growth of the veterinary stereotactic radiosurgery system market.
Furthermore, CyberKnife and Gamma Knife are anticipated to expand at a CAGR of more than 11.05% over the forecast period. These technologies are still in their nascent stage and are anticipated to witness rapid adoption in near future. As these technologies are helping veterinarians to treat lung or liver tumors, historically untreatable with the use of radiation therapy.
North America is projected to dominate the market over the forecast period, owing to the increasing number of cancer incidence in the pet population, rising pet companionship along with the surge in the willingness to spend on their pets, and government initiatives for SRT treatment. According to the U.S. Pet Ownership Statistics 2018/2019, American Pet Product Association (APPA) states that 68% of the households own a pet. A total number of 90 million dogs and 94 million cats are present in the country. The presence of non-profit organizations such as APPA catering to the needs and interests of pet products and services is further fueling the regional market growth.
Furthermore, increasing research studies being conducted to test the safety and efficacy of SRT in animals is also driving the market growth in North America.
Europe's market for veterinary stereotactic radiosurgery systems is anticipated to be the second-largest regional segment in terms of revenue over the forecast period. Government initiatives for research and development activities and the establishment of new centers to carry out research activities in veterinary radiation oncology are the factors anticipated to fuel the growth. For instance, in May 2017, the Cancer Therapy Unit QVSH, University of Cambridge, was the first veterinary radiation center in the country, to receive approval by the European Colleges of Diagnostic Imaging (ECVDI) and Internal Medicine (ECVIM). The establishment of these centers focused on veterinary oncology is further boosting the market growth.
oligopolistic. PetCure Oncology, Accuray, Varian Medical Systems, and Elekta AB
Middle East & Africa
The Veterinary Stereotactic Radiosurgery System market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Veterinary Stereotactic Radiosurgery System market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Veterinary Stereotactic Radiosurgery System market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Veterinary Stereotactic Radiosurgery System market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Veterinary Stereotactic Radiosurgery System market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Veterinary Stereotactic Radiosurgery System capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Veterinary Stereotactic Radiosurgery System by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Veterinary Stereotactic Radiosurgery System market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Veterinary Stereotactic Radiosurgery System market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Veterinary Stereotactic Radiosurgery System market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Veterinary Stereotactic Radiosurgery System industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Veterinary Stereotactic Radiosurgery System market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Veterinary Stereotactic Radiosurgery System market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Veterinary Stereotactic Radiosurgery System market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Veterinary Stereotactic Radiosurgery System market. These factors have benefited the growth of the global market for Veterinary Stereotactic Radiosurgery System. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Veterinary Stereotactic Radiosurgery System. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Veterinary Stereotactic Radiosurgery System are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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