(IT-NEWSWIRE.COM, August 11, 2022 ) According to a new market research report “Radiotherapy Market by Product (Radiotherapy Devices, Software, Service), Procedure (EBRT, Brachytherapy, Systemic Radiotherapy), Technology (IMRT, SRT, VMAT, HDRBT, LDRBT, PDRBT), Application (Prostate, Breast) - Global Forecast to 2025”, published by Meticulous Research®, the global radiotherapy market is expected to grow at a CAGR of 5.6% from 2019 to reach $10.15 billion by 2025.
The growing awareness about the benefits of radiotherapy for cancer control and eradication, increasing incidence & prevalence of cancer, and technological advancements in the field of radiotherapy are the key factors driving steady growth of the overall radiotherapy market.
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According to GLOBOCAN, in 2012, about 14.1 million new cancer cases were diagnosed across the globe, which increased by ~28% to reach 18.1 million new cases in 2018. Further, these numbers are expected to rise by ~110% to 29.5 million cases by 2040. Therefore, with increase in the volume of cancer patients globally, the number of radiotherapy procedures performed is growing rapidly. Due to this increase, the number of radiotherapy equipment installations is also increasing simultaneously. For instance, according to the American Association for Cancer Research (AACR), the demand for radiotherapy procedures has increased steadily over the past decade. According to the estimates, in the U.S., 3.05 million patients received radiation therapy in 2016, which is expected to increase by ~37%, reaching 4.17 million by 2040.
The radiotherapy market study presents historical market data in terms of value (2017, and 2018), estimated current data (2019), and forecasts for 2025 - by product, procedure, technology, application, end user, and region. The study also evaluates industry competitors and analyzes the market at a regional and country level.
Based on product type, the radiotherapy devices segment is estimated to account for the largest share of the overall radiotherapy market in 2019. The large share of this segment is mainly attributed to increasing installations of radiotherapy systems, globally with the rising demand for radiotherapy procedures for cancer treatment and new product launches with advanced technologies.
Based on procedure, external beam radiotherapy segment is poised to account for the largest share of the overall radiotherapy market in 2019 and is also expected to witness the highest growth during the forecast period. The large adoption of this procedure segment is mainly attributed to better clinical outcomes, high specificity towards tumor cells, and continuous advancements in external beam radiotherapy procedures.
Based on technology, the external beam radiotherapy market is classified into IMRT, IGRT, SRT, 3DCRT, Particle Therapy, and VMAT. The particle beam therapy segment is projected to grow at the highest CAGR during the next 5-6 years, mainly due to continuous innovations in the particle beam therapy technologies, increasing availability of advanced proton therapy systems, and increasing investment in the proton therapy room across the globe.
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Based on application, the prostate cancer segment is projected to grow at the highest CAGR during the forecast period, mainly due to rising incidence of prostate cancer and related mortality, growing diagnosis and treatment rate of the disease, and increasing awareness about the fatality and benefits of early diagnosis and treatment across the globe.
Based on end user, the hospitals segment accounted the largest share of the global market, mainly due to large volume of patient admissions in hospitals for treatment of cancer and higher affordability of hospitals for high cost medical devices.
The report also includes extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 4 years (2016–2019). The radiotherapy market has witnessed number of product launches and approvals in recent years. For instance, in December 2018, Elekta AB (Sweden) received approval of Elekta Unity magnetic resonance radiation therapy (MR/RT) system. Similarly, in June 2017, Varian Medical Systems, Inc. received FDA 510(k) clearance for its Halcyon system, which offers advanced treatments for prostate, breast, head & neck, and many other forms of cancer.
The radiotherapy market is highly competitive with the presence of several small and large players. The key players operating in the global radiotherapy market are Varian Medical Systems, Inc., Elekta AB, Accuray Incorporated, C. R. Bard, Inc., Mevion Medical Systems, Inc., Hitachi, Ltd., ViewRay, Inc., Panacea Medical Technologies Pvt. Ltd., Isoray, Inc., Optivus Proton Therapy, Inc., P-Cure, Ltd., Provison Healthcare, LLC, Ion Beam Applications S.A., and Theragenics Corporation among others.
Browse key industry insights spread across 403 pages with 376 market data tables & 86 figures & charts from the report: https://www.meticulousresearch.com/product/radiotherapy-market-5023/
Scope of the Report:
Market by Procedure
External Beam radiotherapy
Linear Accelerator based Teletherapy
Cobalt-60 based teletherapy
Internal Beam Radiotherapy
Market by Product
External beam radiotherapy systems
Conventional Linear Accelerators (LINAC)
Conventional Cobalt-60 Teletherapy units
Advanced Stereotactic Radiotherapy Units (Linear Accelerator/Cobalt- 60 unit)
Proton Therapy Systems
Internal Beam radiotherapy systems
Electronic Brachytherapy products
Radiotherapy Consumables & Accessories
External beam radiotherapy
Internal Beam Radiotherapy
Market by Technology
External Beam Radiotherapy
Intensity-Modulated Radiation Therapy (IMRT)
Image-guided Radiation Therapy (IGRT)
Stereotactic Radiation Therapy
3D Conformal Radiation Therapy
Volumetric Modulated Arc Therapy (VMAT)
Internal Beam Radiotherapy
High Dose Rate Brachytherapy (HDR)
Low Dose Rate Brachytherapy (LDR)
Image-guided Brachytherapy (IGBT)
Pulse Dose Rate Brachytherapy (PDR)
Systemic Radiation Therapy
Market by Application
Head & Neck Cancer
Market by End user
Independent Radiotherapy Centers
Cancer Research Institutes
Market by Geography
Rest of Europe (RoE)
Rest of APAC (RoAPAC)
Middle East & Africa.
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