Stereotactic Planning Software Spending Analysis Market

2021 Analysis and Review: Stereotactic Planning Software Spending Analysis Market by Solution Type – Integrated, Standalone, Services, Consultation and Implementation, Training Services, and On-Demand Support Services for 2021 – 2031

Key Highlights from Report

  • Which is the Highest-Grossing Regional Market for Stereotactic Planning Software Spending Analysis?  

    Rising investment in precise and effective treatment in the U.S. is creating growth opportunities for the market. The U.S. currently leads the global market for stereotactic planning software spending analysis. Its valuation is expected to reach US$ 128.2 Mn by 2031.

  • Which Solution Type of Stereotactic Planning Software is High in Demand?

    Integrated stereotactic planning solutions will retain the lead in the market, accounting for over 44% of revenue generated by 2031. This is due to better user convenience the solution offers within integrated planning devices.

  • Which are Some of the Leading Companies Offering Stereotactic Planning Software?

    Some of the leading companies in this landscape are Brainlab, Inc, Renishaw Inc., Inomed Inc., RaySearch Americas, Inc., Mevis Informática Médica, and others. As per FMI, 80% of the market share is currently covered by the top 5 players.

  • Which Facilities are the Leading End User of Stereotactic Planning Software? 

    Hospitals are expected to dominate the market over the forecast period, generating a revenue of US$ 222 Mn by 2031 due to the rising number of neurological disorders and cardiac diseases and the resultant requirements of hospitalization.

Key Points Covered in Stereotactic Planning Software Spending Analysis Market

  • Market estimates and forecast 2016-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations
  • COVID-19 Impact on Stereotactic Planning Software Spending Analysis Market and How to Navigate
  • Recommendation on Key Winning Strategies

2016-2020 Stereotactic Planning Software Spending Analysis Outlook Compared to 2021-2031 Forecast

Driven by increase neurological disorders and cardiac diseases along with rising demand for precision in treatment, the stereotactic planning software spending analysis market reached a valuation of US$ 242.3 Mn in 2020.

The increasing cases of neurological and movement disorders are creating demand for stereotactic procedures for which surgeons are demanding commercial software suites for high precision and effective planning of stereotaxic surgery. Parkinson’s disease and other movement disorders are estimated to affect 2.75 million people in the United States.

Key factors driving the demand for stereotactic planning software include increasing cases of neurological disorders, and the demand for interactive and minimally invasive surgical techniques.

Key players are focusing on collaborations and partnerships to expand their presence globally. They are also focusing on strategic developments through mergers & acquisitions and new product launches through innovations to attract consumers. With stereotactic planning software, surgeons can focus on surgery with less time involved in trajectory planning.

The high healthcare expenditure in the U.S. has been attributed to the adoption of advanced technology and an inclination towards the adoption of better treatment options. There has been a rise in the adoption of advanced treatment solutions in other countries as well including that of Europe and East Asia. 

In the coming years, the demand for stereotactic planning software will rise amid the expansion of medical devices and healthcare infrastructure globally. According to Future Market Insights the market will rise at 4.6% CAGR between 2021 and 2031.

What is the Impact of the Increasing Number of Neurological Disorders on Growth?

Neurological disorders are one of the leading causes of death in many countries including the U.S. Stroke, Alzheimer’s disease, and migraines are the most prevalent disorders among all neurological disorders.

According to DALY’s, in the U.S., strokes constitute 3.58 Mn cases, Alzheimer’s disease 2.55 Mn cases, and migraine 2.4 Mn cases.

Neurological disorders can therefore result in increasing the financial burden on the patient. The increasing cases of neurological disorders have increased interest in stereotactic planning software.

What Is the Impact of the COVID-19 Crisis on Stereotactic Planning Software Spending Analysis?

Lockdowns imposed across various countries have negatively impacted the stereotactic planning software spending market. Limited production and transportation-related delays owing to travel restrictions have created obstacles amid the pandemic. With the consecutive waves of the novel coronavirus further impacting the healthcare sector, treatment of other ailments was either affected or delayed hindering short-term prospects.

There has been a significant decline in the stereotactic planning software market due to fewer patients in hospital availing these services, owing to social distancing guidelines.

Despite the difficult situation, economies are steadily recovering from the effect. Company activities have begun to grow at a gradual pace as supply and distribution networks recover. Against this backdrop, the pandemic is unlikely to have a long-term effect on the stereotactic planning software spending analysis market.

Country-wise Insights

How Big is the Opportunity for Stereotactic Planning Software Spending Analysis in the U.S.?

According to the FMI study, the U.S. is expected to account for over 82% of the North American market through the end of 2031.

The high value of healthcare spending in the U.S.is one of the major factors supporting market growth. Overall healthcare spending grew at a rate of about 4.6 percent in 2019 as compared to the overall economic growth of 4% in the U.S. calculated by GDP, according to estimates by the CMSs Office of the Actuary.

Furthermore, the presence of key players in the U.S. makes its largest market for stereotactic planning software. Besides, the U.S. has the highest population of patients with neurological disorders. These factors make the country the largest market for stereotactic planning software.

Why is Demand for Stereotactic Planning Software Increasing in the U.K.?

Demand in the U.K. market is expected to rise at over 4% CAGR over the forecast period. The U.K. healthcare system is backed by a well-developed infrastructure and is largely supported by the government. The U.K. also has the highest level of expenditure in Europe.

Among the countries in Europe, the U.K. is recognized as a primary market, and it is expected to continue exhibiting high demand for stereotactic planning software through the forecast period.

Moreover, rising research activities, the presence of headquarters of several major players, and increasing investments in healthcare infrastructure and reimbursement plans are creating attractive opportunities for stereotactic planning software spending analysis in the country.

What are the Key Factors Enabling Growth in China?

China is the most lucrative market in East Asia for stereotactic planning software. By 2031, it is expected to account for over 65% of the overall stereotactic planning software sales within East Asia.

Companies are expanding globally with partnerships and collaborations. According to a study by the Ministry of Science and Technology of the People’s Republic of China, there have been 1.57 Mn deaths in 2018 due to strokes which was the third leading cause for death in the country. The study showed that China had the highest estimated lifetime risk of stroke from age 25 years onwards accounting for 39.3%  of the population.

Besides, there have been continuous investments in the healthcare expansion of the country for better treatment facilities.

How is Patient Awareness and Healthcare Spending Boosting Sales in India?

In 2021, India will account for over 56% of sales in South Asia. Government initiatives undertaken to give quality and affordable healthcare are anticipated to supplement the development of India's healthcare system, thereby boosting the stereotactic planning software spending analysis in the country.

According to a WHO report, the prevalence of dementia in India is 1.9% for people over the age of 60 years. In the context of the large population and demographic transition, the total numbers are estimated to more than triple in the next 35 years, reaching over six million by 2040.

The economic assessment of epilepsy in India is US$ 344 Mn per year (equivalent to 88% of average income per capita), and that the total cost for the estimated five million cases resident in India is equivalent to 0.5% of gross national product.

Category-wise Insights

Why is the Demand for Integrated Stereotactic Planning Solutions Rising?

Based on stereotactic planning software solution types, integrated stereotactic planning solutions hold the lead, accounting for over 40% of the market in 2021. Integrated stereotactic planning solution localization tools are integrated with the patient’s medical record for smoother and efficient workflows.

Integrated stereotactic planning solutions are expected to remain a popular choice for many end-users since they significantly reduce accommodation space and are considered easy to use.

Why Are CT Images Preferred for Imaging Modality?

Stereotactic planning software fuses with MRI images and CT into a 3D volume, assisting neurosurgeons to target anatomy concealed deep within the brain tissue. Of these, CT Images are estimated to dominate and account for over 46% of the market by 2031.

CT scans with their inherent accuracy in identifying and localizing intracranial lesions have been the choice of imaging modality for stereotactic planning. Also, the equipment expense and availability of CT scanners make it the ideal choice of imaging modality.

Why Do Hospitals Hold a Larger Share in Stereotactic Planning Software Spending Analysis?

Hospitals are expected to contribute a maximum revenue share of more than 52% in the global stereotactic planning software spending analysis owing to the higher number of patients' foot-falls in these facilities.

Advancements in medical care approaches in developed nations like the U.S. and the U.K have brought about improved treatment options for various diseases and disorders. This has brought better options and treatment provisions.

Hospitals are the first preference for patients requiring surgical treatment approaches. Stereotactic planning is now preferred in the treatment of small-cell lung cancer and prostate cancer. This will provide a thrust to hospitals as preferred end-users during the forecasted period.

Competitive Landscape

Companies operating in the stereotactic planning software industry are aiming at strategic collaborations and partnerships with other manufacturers to expand their production capacities and and global presence, addressing the demand of an expanding patient pool.

  • For instance, in May 2021, RaySearch announced the launch of the RayStation 11A advanced treatment planning system to meet the needs of Accuray’s Cyberknife System for radiation therapy and radiosurgery.
  • In October 2020, Brainlab, collaborated with Accuray Incorporated which will support the Cyberknife treatment platform aimed for applications in the neuro-radiosurgery sector.

Manufacturers are also focusing on the expansion of manufacturing facilities globally to maintain their global presence.

  • For instance, In July 2020, RaySearch Laboratories AB has announced the establishment of a wholly-owned subsidiary based in Australia to serve the Australian and New Zealand markets.

Some of the leading companies operating in the market are:

  • Brainlab, Inc.
  • Renishaw Inc.
  • inomed Inc.
  • RaySearch Americas, Inc.
  • Mevis Informática Médica
  • FHC, Inc.
  • Integra LifeSciences Corporation
  • Elekta Solutions AB
  • SurgiFRONT Ltd. 

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa

Key Segments Covered

Solution type, Image Modality, End User and Region

Key Companies Profiled

  • Brainlab, Inc.
  • Renishaw Inc.
  • inomed Inc.
  • RaySearch Americas, Inc.
  • Mevis Informática Médica
  • FHC, Inc.
  • Integra LifeSciences Corporation
  • Elekta Solutions AB
  • SurgiFRONT Ltd.

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

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Stereotactic Planning Software Spending Analysis by Category

By Solution Type:

  • Stand-alone Stereotactic Planning Solution
  • Integrated Stereotactic Planning Solution
  • Services
    • Consulting & Implementation
    • Training Services
    • On-demand Support Services

By Imaging Modality:

  • CT Images
  • MR Images
  • Angiographic Images

By End User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Cancer Research Institutes

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa (MEA)

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