Radiotherapy Market Overview:
Science of radiotherapy has changed over the years due to substantial advancements in the field of medical technology. A gradual transition is observed from traditional technologies towards complex techniques such as intensity modulated radiotherapy (IMRT), stereotactic body radiation therapy, 4D imaging and proton therapy. These procedures are improving the precision and accuracy of radiotherapy.
Electromagnetic waves or high-energy radioactive particles are used in radiation therapy for destroying cancer cells, repair physiological abnormalities and shrink tumor cells. Radiotherapy is developing as a foremost technology for destroying the cancer disease. It is a confined treatment like surgery and affects a particular area only.
Technological developments in radiotherapy products, increase in a number of aged population, growing prevalence of cancer cases all over the globe, rising symposiums powerful investments in radiotherapy, and growing acceptance of radiotherapy devices and processes will mainly drive the radiotherapy market. Few other factors which are fuelling this market growth are rising preference for non-surgical procedures and increase in demand for replacement as hospitals are replacing older equipment with the newer therapy systems which offer better facilities. Lack of sufficient infrastructure and adequate skills are the major restraint for the growth of the radiotherapy market.
Radiotherapy Market Forecast Report (2018-2023):
Global Radiotherapy Market was worth $6.12 billion in 2018 and estimated to be growing at a CAGR of 6%, to reach $8.19 billion by 2023.
Radiotherapy Market Segmentation:
The Global Radiotherapy Market is segmented on the basis of type into External beam radiation therapy, internal beam radiation therapy, and systemic radiation therapy. External beam radiation therapy issub-segmentedd into Intensity-modulated radiation therapy (IMRT), Image-guided radiation therapy (IGRT), Tomotherapy, Stereotactic radiosurgery, Stereotactic body radiation therapy and Proton therapy. Based on the application the market is segregated into Skin & Lip Cancer, Head & Neck Cancer, Breast Cancer, Prostate Cancer, Cervical Cancer, Lung Cancer and Spine Cancer. On the basis of equipment type market is bifurcated into Linear accelerators, Radiation therapy simulators and Treatment planning systems. The prostate cancer application segment is estimated to hold the largest share in both external beam radiotherapy market along with internal radiotherapy market.
Based on geography the market is analysed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. North America is projected to be the leading market in 2018, while Asia-Pacific is anticipated to raise at the highest rate during the forecast period from 2018 to 2023. Growing number of cancer patients the in Asia-Pacific region is predicted to drive the radiotherapy market in this region.
Key Developments in the Market:
- October 21- 23, 2018, RaySearch will exhibit its latest advances in oncology software at the ASTRO 2018
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- Nordion Inc. (Canada),
- RaySearch Laboratories AB (Sweden),
- Ion Beam Applications SA (Belgium),
- C. R. Bard Inc. (U.S.),
- Mevion Medical Systems Inc. (U.S.),
- Varian Medical Systems Inc. (U.S.),
- IsoRay Medical Inc. (U.S.),
- Elekta AB (Sweden),
- Accuray Incorporated (U.S.),
- Mitsubishi Electric Corporation (Japan)
Reasons to Purchase Radiotherapy Market Report
- Current and future radiotherapy market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support along, with the Market Estimate sheet (in excel)
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