Veterinary Stereotactic Radiosurgery System Market Size & Strategy Framework To 2019 - 2025

The global veterinary stereotactic radiosurgery systems market size is anticipated to reach USD 4.4 billion by 2026, according to a new report published by Grand View Research, Inc. It is expected to expand a CAGR of 11.4% during the forecast period. 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.

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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.

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Further key findings from the report suggest:

• Particle Beam Radiation Therapy (PBRT) accounted for the largest market share in terms of revenue in 2018, owing to increasing adoption of the product in for neuroscience research in animals

• North America held the dominant market share in 2018, 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

• Key companies operational in the veterinary stereotactic radiosurgery system market are PetCure Oncology, Elekta AB, Accuray, and Varian Medical Systems among others


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