Global Radiotherapy Market is expected to reach USD 9.3 billion by 2024 from USD 5.2 billion in 2016, at a CAGR of 7.5% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Global Radiotherapy Market is highly concentrated to a big player and rest to local players who cater to domestic markets only. Varian Medical Systems, Inc. dominated the radiotherapy market accounting for a highest market share in 2016. Other players in this market include Elekta AB, Accuray, Inc., CIVCO Medical Solutions, Brainlab AG, C. R. Bard, Inc., IsoRay Medical, Inc., Nordion, Inc., RaySearch Laboratories AB, PRECISIS AG, Mevion Medical Systems, Inc., TechnicasRadiofiscas S.L., Hitachi, Ltd., Sumitomo Heavy Industries, Ltd., Mitsubishi Electric Corporation, ProNova Solutions, LLC, ProTom International.
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Segmentation: Global Radiotherapy Market
Global Radiotherapy Market segmented By Therapy (Beam Radiotherapy (IGRT, IMRT, VMAT, Tomotherapy, 3D CRT, Proton Beam, Stereotactic), Brachytherapy (LDR, HDR), Systemic Radiotherapy), By Product Type (CyberKnife, Gammaknife, LINAC, Proton Beam, Systemic Radiotherapy, Seeds, Afterloaders), By Indication (Prostate & Breast Cancer)), By Geography (North America, Europe, Asia Pacific, South America, Rest of the World)– Industry Trends and Forecast to 2024
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Top Company Analysis – Varian Medical Systems, Inc.:
Founded in 1948 as Varian Medical Systems, Inc. and head quartered in California, U.S. is a provider of radiotherapy, proton therapy and brachytherapy. Varian also supplies X-ray imaging components for medical, scientific, cargo screening and industrial applications. Varian operates through two business segments: oncology systems and imaging components.
Recent developments:
- In October 2016,Varian Medical Systems, Inc. and McKesson Specialty Health announced a strategic agreement for the distribution and servicing of Varian advanced radiotherapy equipment and software over a three period across “The US Oncology Network” and “Vantage Oncology” affiliated sites of care.
- In October 2016,VarianMedical Systems, Inc. announced the launch of first of its kind 360 Oncology care management platform, the first software system designed to integrate and coordinate key elements of cancer so patients and their cancer teams can collaborate on achieving the best outcomes.
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Drivers: Global Radiotherapy Market
Some of the major factors driving the radiotherapy market are rising incidence of cancer, increasing acceptance of adaptive radiation therapy (ART), growing pool of geriatric population and increasing number of cancer treatment facilities. Also,increase in out-patient cancer facilities, increasing demand for better radiotherapy equipments, replacement of out dated products and increasing influx of government and private funding for radiotherapy technology are driving the growth of the radiotherapy market.
GROWING PREVALENCE OF CANCER
In recent years, the prevalence of cancer across the globe has increased considerably over a period of time. The rapidly increasing prevalence of cancer and the subsequent rise in chronic conditions are major factors driving the demand radiotherapy devices.
RISING AGING POPULATION
With increasing age, the patient pool for chronic disease is rising which includes the growth of cancer cases among the older population. Since, cancer incidence is increasing exponentially with advancing age, it is expected to affect the older population which will impact the growth of the older cancer patient pool.
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UNHEALTHY LIFESTYLE
A lifestyle is simply defined as the way people live their life, it is the way people spend their day. Nowadays, people’s way of life is changing drastically. The unhealthy lifestyle includes physical inactivity, alcohol abuse, smoking, unhealthy diets among others. The unhealthy lifestyle is one of the factors driving the market for radiotherapy.
MERGERS AND ACQUISITIONS TO EXPAND BUSINESS
Companies dealing in radiotherapy have been leveraging mergers and acquisitions, internal R&Dand new partnership to expand their business in other regions, especially in promising emerging market also to increase their radiotherapy market size and to grab the opportunity of radiotherapy in market.
Related Report
Europe Radiotherapy Market – Industry Trends and Forecast to 2024
Europe Radiotherapy Market, By Therapy (Beam Radiotherapy (IGRT, IMRT, VMAT, Tomotherapy, 3D CRT, Proton Beam, Stereotactic), Brachytherapy (LDR, HDR), Systemic Radiotherapy), By Product Type (Cyberknife, Gammaknife, Linac, Proton Beam, Systemic Radiotherapy, Seeds, Afterloaders), By Indication (Prostate & Breast Cancer)), By Country (Germany, France, U.K., Spain, Italy, Russia, Netherlands, Turkey, Belgium, Switzerland, Rest of Europe) – Industry Trends and Forecast to 2024
http://databridgemarketresearch.com/reports/europe-radiotherapy-market/
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