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The increasing focus on advancing cancer care and research for animals is expected to significantly drive market growth. Innovations in diagnostic and treatment technologies, such as AI-driven systems and advanced radiation therapies, are enhancing the precision and effectiveness of veterinary oncology, which in turn propels the demand for advanced systems. As pet owners and veterinary practices seek innovative solutions for cancer management, the demand for specialized equipment and services is likely to rise, fueling market growth.
the University of Wisconsin-Madison (UW-Madison) School of Veterinary Medicine has pioneered advancements in cancer care by becoming the first to treat an animal using the Radixact System equipped with Synchrony. This integration of AI-driven Synchrony with the Radixact System allowed for real-time tracking of the tumor's movement due to the animal's breathing, enabling automatic adjustments to the radiation beam to maintain precise targeting. This innovative approach underscores UW-Madison's commitment to enhancing veterinary oncology and improving patient outcomes.
Moreover, the growing animal healthcare expenditure, technological advancements in diagnostic systems, increasing number of stereotactic radiosurgery procedures, and strategic expansions by major players further propel market demand.
The veterinary hospitals segment in the market captured the largest share in 2023 bolstered by their state-of-the-art infrastructure.
The veterinary stereotactic radiosurgery system market was valued at USD 412.3 million in 2023 and is projected to grow at 9.3% CAGR from 2024 to 2032 due to the rising incidence of cancer in animals.
North American veterinary stereotactic radiosurgery system market was valued at USD 152 million in 2023, driven by a swift embrace of innovative technologies.
Accuray Incorporated, Elekta AB, and Varian Medical Systems