Albany, NY -- (SBWIRE) -- 11/14/2016 -- Stereotactic surgery devices such as stereotactic frames, image-based planning software specifically designed for stereotactic surgery and radio frequency generator are widely used during stereotactic surgery. Stereotactic surgery also known as stereotaxy is a kind of minimally invasive procedure that is used for both diagnostic and therapeutic purposes. Stereotactic surgery involves the use of a three-dimensional coordinate system to stereotactically localize any point in 3D space, and to perform procedures such as injection, ablation, lesion, implantation, biopsy and radiosurgery. Image-based planning software plays a key role in guiding the surgeon towards the target in his approach.

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The world is witnessing an increasing adoption of stereotactic procedure by surgeons for various neurosurgeries particularly related with Parkinson\'s disease, epilepsy, arteriovenous malformations (AVMs) and other conditions, primarily with intent to achieve a high level of accuracy during localizing intracranial targets. Increasing worldwide prevalence of Parkinson's disease, epilepsy and AVMs and rapidly increasing elderly population are some of the major drivers for the stereotactic surgery devices market. As per the statistics released by the European Parkinson's Disease Association, more than 6.3 million people are living with Parkinson's disease across the globe.

According to the U.S. Parkinson's Disease Foundation, every year more than 60,000 Americans are diagnosed with Parkinson's disease across the nation. According to the Epilepsy Foundation, epilepsy has been identified as the 4th most common neurological problem. The Epilepsy Foundation further states that approximately 2.2 million people are living with epilepsy in the U.S. The occurrence rate of AVMs is less than 1% of the general population and is more commonly seen in males than females. The American Heart Association reported that about one in 200 to 500 people could have an AVM in 2014. On account of such high prevalence of neurological diseases, the global market for stereotactic surgery devices market has been expected to grow significantly during the forecast period between 2014 and 2020.

Elderly population is at high risk of developing various neurological diseases, for example, Parkinson's disease usually affects people aged 60 years or older. Therefore, continuously increasing elderly population is expected to directly impact the growth and development of stereotactic surgery devices market. According to the World Health Organization (WHO) projections, in 2010, global geriatric population was around 524 million and is anticipated to reach around 1.5 billion by the year 2050.

Concerted efforts by the key manufacturers in the research and development of stereotactic surgery devices is one of the major reasons driving the market growth across the globe. The new and innovative products developed as a result of extensive research and development activities offers improved clinical outcomes, broader procedural options and shorten planning time.

In terms of geography, the global market for stereotactic surgery devices has been segmented into four major regions, namely, North America, Europe, Asia-Pacific and Rest of the World (RoW). Of these, North America represented the largest regional market in 2013, followed by Europe and Asia-Pacific. Elekta AB, Inomed, Monteris Medical, adeor Medical AG, Alliance Oncology and Micromar are some of the major players operating in the stereotactic surgery devices market. These players are in constant competition with each other and are striving to get competitive edge over others.

Elekta AB, a Swedish company offers Leksell Stereotactic System, Leksell SurgiPlan and Leksell Neuro Generator. Leksell Stereotactic System includes a wide range of accessories including Leksell Coordinate Frame and Leksell Multipurpose Stereotactic Arc. ZD Stereotactic System, RM Stereotactic System and OSS Open Stereotactic System are the three major types of stereotactic systems that are marketed by Inomed.

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