Market Trends of Acoustic Neuroma Industry
Stereotactic Radiosurgery is Expected to Witness a Significant Growth Over the Forecast Period
Stereotactic radiosurgery is a minimally invasive surgical procedure that uses a three-dimensional coordinate system to detect small targets within the body and conduct actions such as ablation, biopsy, lesion, injection, stimulation, implantation, radiosurgery, and other procedures. The segment is expected to witness healthy growth during the forecast period owing to the advantages of stereotactic radiosurgery as well as rising product launches.
The advantages and success rate of stereotactic surgery for the treatment of acoustic neuroma are expected to propel the segment's growth during the forecast period. For instance, an article published in September 2021 in Current Otorhinolaryngology Reports stated that despite significant advancements in acoustic neuroma, radiosurgery remains the primary treatment option for the vast majority of cases to achieve disease cure, long-term tumor control, and long-term preservation of cranial nerve function. Also, an article published in December 2021 in PubMed stated that most patients show control in vestibular schwannoma/acoustic neuroma progression after primary stereotactic radiosurgery. It demonstrates the benefit of surgery over radiation therapy in the treatment of an acoustic neuroma. Therefore, owing to the benefits over conventional procedures, the segment is expected to grow during the forecast period.
Additionally, the product launches by market players significantly contribute to the segment's growth during the forecast period. For instance, in May 2022, Elekta launched its next-generation stereotactic radiosurgery system, Elekta Esprit, at ESTRO. It provides a non-invasive brain treatment that is a better alternative to open surgery and conventional radiotherapy. Launching technologically advanced products is expected to propel the segment's growth during the forecast period.
As a result of the aforementioned factors, such as benefits over traditional radiotherapy and technologically advanced launches, the stereotactic radiosurgery segment is expected to register significant growth throughout the forecast period.
North America is Expected to Hold a Significant Market Share Over The Forecast Period
North America is expected to hold a significant market share owing to factors such as the high burden of acoustic neuroma, increasing research and development (R&D) for the development of innovative treatments, product launches, and the high concentration of market players in the region.
The rising research activities and launches by market players and healthcare organizations are expected to propel the market growth during the forecast period. For instance, a number of clinical trials will be conducted in the United States in 2021, funded by the Washington University School of Medicine, and are expected to be completed by December 2023. The purpose of the study is to demonstrate the feasibility of the Auditory Nerve Test System (ANTS) device during translabyrinthine surgery for vestibular schwannoma resection. Patients who have a vestibular schwannoma and asymmetric sensorineural hearing loss will receive a cochlear implant at the same time if the auditory nerve is preserved. Therefore, the research activities are expected to develop and market innovative acoustic neuroma therapeutics during the forecast period,
Furthermore, in February 2021, researchers from Fujitsu and the University of Toronto developed quantum-inspired technology to help doctors better plan radiation treatments for brain tumors and other diseases. The technology is for dramatically speeding up the creation of radiation treatment plans for Gamma Knife radiosurgery. The traditional approach of establishing treatment plans is frequently tedious and time-consuming. The new technology will overcome this and will provide a better plan for radiation therapy and related dosing.
As a result of the aforesaid factors such as rising research and development activities for the development of innovative drugs and devices, the studied market is expected to increase in the North American region.
