Veterinary Stereotactic Radiosurgery Market Size, Global Report 2032

Veterinary Stereotactic Radiosurgery Market: Industry Perspective

The global veterinary stereotactic radiosurgery market size was worth around USD 3.09 Billion in 2023 and is predicted to grow to around USD 7.40 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 10.2% between 2024 and 2032. The report analyzes the global veterinary stereotactic radiosurgery market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the veterinary stereotactic radiosurgery industry.

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Veterinary Stereotactic Radiosurgery Market: Segmentation Analysis

The study provides a decisive view of the Veterinary Stereotactic Radiosurgery market by segmenting the market based on Type, Modality, Product and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

Based on the Modality segment, the market is bifurcated CyberKnife, Gamma Knife, LINAC, PBRT and Others. In 2023, 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 doses. 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 Cyber Knife 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 systems.

Veterinary Stereotactic Radiosurgery Market: Regional Analysis

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.

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 2023 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 subscriptions, 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 has remained resilient over the years.

Veterinary Stereotactic Radiosurgery Market: Report Scope

Veterinary Stereotactic Radiosurgery Market: Competitive Analysis

Some of the major players in the global veterinary stereotactic radiosurgery market include:

• Accuray
• Elekta AB
• PetCure Oncology
• Varian Medical Systems

The global veterinary stereotactic radiosurgery market is segmented 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

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa