Veterinary Stereotactic Radiosurgery System Market Size, Share & Trends Analysis Report By Product (Gamma Knife, LINAC, CyberKnife), By End Use (Hospitals & Clinics), By Region, And Segment Forecasts, 2024 - 2030

Market Size & Trends

The global veterinary stereotactic radiosurgery system market size was valued at USD 2.88 billion in 2023 and is projected to grow at a CAGR of 10.4% from 2024 to 2030. The factors include increasing usage of stereotactic radiosurgery systems (SRS) for the improvement of pets, increasing pet population across the globe, increasing government regulations for the better treatment of pets, advancement in technology, and advancement in non-invasive treatments.

In June 2021, the UW-Madison School of Veterinary Medicine used the Radixact System with Synchrony to treat a dog with lung cancer, marking the first use of this technology in animal care. The AI-driven Synchrony feature tracked tumors in real-time, adjusting the radiation beam to the tumor's movement during treatment. Mac, the Fox Terrier Mix, reportedly did well post-treatment.

The growing pet population worldwide is expected to boost the market growth. As more pets are diagnosed with complex conditions such as cancer, the demand for advanced treatment options, such as radiosurgery systems, is rising. This trend is fueling market growth and innovation in veterinary care technology. According to the Insurance Zebra, 66% of U.S. households, or about 86.9 million families, own pets, spending approximately USD 136 billion annually on pet-related products. At least 37 million millennials are pet owners, and 4 million dogs and cats are adopted from shelters each year. Globally, there are 900 million pet dogs and 370 million cats, with freshwater fish being the third most popular pet. Wyoming has the highest pet ownership rate at 72% of households.

The technological advancements are propelling the market's growth by offering precise and non-invasive cancer treatments for pets. Innovations such as real-time tumor tracking and AI-driven systems enhance treatment accuracy and safety, making radiosurgery a more viable option for veterinary care. This technological progress is increasing the adoption of advanced treatment methods in veterinary medicine. For instance, in October 2023, a state-of-the-art Elekta Infinity linear accelerator was installed by CVS Group at Bristol Vet Specialists, enabling advanced image-guided radiation therapy for pets with cancer. It featured a multi-leaf collimator for precise radiation beam shaping and a six-degrees-of-freedom couch for optimal patient positioning. The equipment allowed the center to offer cutting-edge treatments such as stereotactic radiation therapy, delivering high doses of targeted radiation with exceptional precision over shorter treatment periods.

Product Insights

The LINAC (linear accelerator) systems segment dominated the market and accounted for a share of 53.6% in 2023. The adoption of linear accelerators is driven by increased pet ownership, rising healthcare spending, and advancements in veterinary oncology, making these technologies more effective and precise. Growing awareness among pet owners and expanding specialized veterinary centers also contribute to the demand for advanced treatment options such as linear accelerators. For instance, in October 2023, Washington State University installed a linear accelerator at its veterinary teaching hospital, offering advanced radiation therapy to treat cancers in animals, such as mast cell tumors and soft tissue sarcomas.

The proton beam radiation therapy (PBRT)/ Flash-RT is expected to grow at the fastest CAGR of 12.8% over the forecast period. The factors such as the development of magnetic resonance imaging (MRI) linear accelerators, treatment planning software, proton therapy, advancement in radiotherapy treatment and heavy investments which are being made by the governments and companies has been responsible for the growth of the market.

End Use Insights

Academic and research institution segment dominated the market and accounted for a share of 57.6% in 2023. The dominance can be attributed to increasing research and development capacities, clinical trials, wide-spreading educational programs, investments, developing property, and building trust in these institutions. In addition, partnerships and collaboration between academic centers and private practices have enhanced the offerings and propelled the market. For instance, cancer is a major health concern for pets, with around 6 million dogs and nearly 6 million cats diagnosed annually in the U.S. Petco Love and in May 2024, Blue Buffalo contributed USD 100,000 to Morris Animal Foundation's Stop Cancer Furever campaign, supporting the Foundation's efforts to advance scientific research to save animals.

The hospitals and clinics segment is expected to grow at the fastest CAGR of 11.4% over the forecast period. This growth can be attributed to factors such as improved healthcare infrastructure and facilities, increased skilled professionals, established patient trust, the presence of wide networks, increasing technological advancements, and the availability of nearby patients. In addition, clinics' cost-effective treatments further help propel the market.

Regional Insights

North America veterinary stereotactic radiosurgery system market dominated the market in 2023. This dominance can be attributed to factors such as the increasing number of pets in the region, the presence of major players, an increase in the research and studies for the treatment of pets, increasing heavy investments by the government, and private players for the improvement of the pets has helped in the market growth.

In addition, the increasing awareness about minimally abusive treatment procedures has helped in the further expansion of the market. For instance, in January 2024, MIB Agents, a U.S. nonprofit focused on pediatric osteosarcoma, awarded a USD 100,000 "OutSmarting Osteosarcoma" grant to support comparative oncology research on this bone cancer. Each year, about 1,000 people in the U.S., mostly children and young adults, are diagnosed with osteosarcoma, a disease that also affects around 18,000 dogs annually in North America.

U.S Veterinary Stereotactic Radiosurgery System Market Trends

U.S. veterinary stereotactic radiosurgery system market dominated the North America market with a share of 83.3% in 2023 due to the increasing trend towards pet adaptation and increasing awareness among people about advanced treatment procedures, the availability of traces of pesticides and fertilizers, which has led to the increase of cases of cancer in animals, and technological advancements in equipment and software.

Europe Veterinary Stereotactic Radiosurgery System Market trends

Europe veterinary stereotactic radiosurgery system market was identified as a lucrative region in 2023. The rising incidence of cancer in pets, especially in dogs and cats, drives demand for advanced treatments such as veterinary stereotactic radiosurgery systems (SRS). SRS provides a non-invasive, less stressful option for treating various cancers in animals, offering improved precision and effectiveness. For instance, in April 2024, Antech Diagnostics, Inc., a company specializing in veterinary diagnostics, launched the Nu.Q Canine Cancer Test in Europe. This screening tool was designed for dog breeds at high risk of cancer and senior dogs, enabling veterinarians and pet owners to make knowledgeable choices concerning treating common canine cancers.

The veterinary stereotactic radiosurgery system market in UK is expected to grow rapidly in the coming years due to increasing investments in technological advancements and pet owners' awareness.

Germany veterinary stereotactic radiosurgery system market held a substantial market share in 2023 owing to a high rate of pet ownership, particularly of dogs and cats, leading to increased demand for advanced veterinary care. Germany's emphasis on research and development in veterinary medicine promotes the adoption of cutting-edge, non-invasive technologies such as SRS. Pet owners' growing awareness and willingness to invest in sophisticated treatments, combined with the rising incidence of pet cancers, further fuel the demand for these precise treatment options.

Asia Pacific Veterinary Stereotactic Radiosurgery System Market Trends 

The Asia Pacific veterinary stereotactic radiosurgery system market is expected to grow at the fastest CAGR of 11.9% over the forecast period. Factors such as the presence of countries such as China, India, Japan, and others, the increasing trends towards pet adoption, and pet owners' awareness about their pets' health and wellness have largely influenced the market's growth. In addition, the increasing disposable income has further propelled the market's growth in the region. For instance, in December 2023, in the efforts to protect the region from emerging infectious diseases (EIDs), Southeast Asia made a significant advancement with the first meeting of the ASEAN Coordinating Centre for Animal Health and Zoonoses (ACCAHZ) Governing Board.

The veterinary stereotactic radiosurgery system market in Japan is expected to grow rapidly in the coming years due to the increasing trends amongst the younger generations, such as the young generation and millennials. In addition, the increasing adoption of advanced technology influenced the market growth. For instance, an online survey conducted by the Pet Food Association from September to October 2023 received valid responses from about 50,000 individuals aged 20 to 79. The survey revealed 6,844,000 pet dogs (a decrease of 209,000 from 2022) and 9,069,000 pet cats (an increase of 232,000 from the previous year), totaling 15,913,000 pets—up by 23,000 from 2022.

China veterinary stereotactic radiosurgery system market held a substantial market share in 2023 owing to the increasing number of clinics and diagnostic centers, which made treatments easy to obtain, and the availability of advanced technology in clinics and hospitals, which led to market growth.

Key Veterinary Stereotactic Radiosurgery System Company Insights:

Some of the key companies in the veterinary stereotactic radiosurgery system market are Elekta, Accuracy Incorporated, Varian Medical Systems, Inc., ALCEN and Xstrahl. Organizations are focusing on increasing customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions, and partnerships with other major companies.

• Elekta provides advanced medical technologies, including veterinary stereotactic radiosurgery (SRS) systems. Their SRS solutions are designed to offer precise, non-invasive treatment for pets with cancer and other conditions, leveraging imaging and targeting technology.

• Accuracy Incorporated is a French company that specializes in manufacturing advanced medical technologies, especially stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT). The company's aim is to enhance accuracy in radiation delivery.

Recent Developments

• In February 2024, Varian Medical Systems, Inc. announced that its TrueBeam and Edge radiotherapy systems with the HyperSight imaging solution received 510(k) clearance from the U.S. Food and Drug Administration (FDA).

• In October 2023, Thrive Pet Healthcare launched Thrive Pet Healthcare Specialists in Hoffman Estates, expanding its network to over 380 locations across 37 U.S. states. This facility offers round-the-clock emergency care for pets with critical or life-threatening conditions and provides specialty services by appointment.

• In October 2023, Accuracy Incorporated launched its online adaptive therapy option, Cenos, for its Radixact system at ASTRO (American Society for Radiation Oncology) in partnership with Limbus AI.

Veterinary Stereotactic Radiosurgery System Market Report Scope

Global Veterinary Stereotactic Radiosurgery System Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global veterinary stereotactic radiosurgery system market report based on product, end use, and region.

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Gamma Knife

  • LINAC

  • Proton Beam Radiation Therapy (PBRT)/ Flash-RT

  • CyberKnife

• End Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals & Clinics

  • Academic & Research Institutions

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Argentina

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait