Radiotherapy Market To Generate Revenue $10.15 billion, at a CAGR of 5.6% during Forecast Period 2019-2025

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 Forecasts to 2025”, published by Meticulous Research, the radiotherapy market is expected to grow at a CAGR of 5.6% from 2019 to reach $10.15 billion by 2025.

Cancer is among the major healthcare concerns for the healthcare systems across the world. While it is among one of the leading causes of deaths, the overall expenditure on cancer diagnostics and treatment is also one of the challenging issues for health systems across the world. As per the statistics, Cancer causes about 1 in every 6 deaths worldwide, which is more than AIDS, tuberculosis, and malaria combined. According to the WHO, cancer is the second leading cause of deaths globally. According to Global Cancer Observatory (GLOBOCAN), in 2012, about 14.1 million new cancer cases were diagnosed worldwide, which increased by ~28% to reach 18.1 million new cases in 2018 and claimed an estimated 9.6 million lives. Further, by 2040, the global cancer burden is expected to grow to 27.5 million new cancer cases and account for 16.3 million cancer deaths with simultaneous growth in aging population. The growing incidence and prevalence of cancer has led to greater demand for advanced therapies for cancer treatment. With advances in medical procedures such as radiotherapy, it is now possible to provide more accurate and targeted cancer treatment.

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Radiotherapy is the type of cancer radiation treatment that utilizes beams of higher energy to kill cancer cells. Radiation kills cancer cells by directly affecting the DNA or by indirectly making free radicals that diffuse towards the DNA of damaged cells and destroys them. As cancer cells do not have the ability to repair themselves in the same way as normal cells, the radiation treatment leads to complete destruction of tumor cells. Since its initial adoption, radiation therapy has come a long way from treatment planning based on orthogonal radiographs with large margins around tumors. Advances in imaging modalities and radiation planning software have further led to three-dimensional conformal radiotherapy with accurate lesion detection and targeting.

Key questions answered in the report-

Which are the high growth market segments in terms of product, procedure, technology, application, end-user, and region/countries?

What was the historical market for radiotherapy across the globe?

What are the market forecasts and estimates for the period 2019–2025?

What are the major drivers, restraints, challenges, and opportunities in the global radiotherapy market?

Who are the major players in the global radiotherapy market?

How is the competitive landscape and who are the market leaders in the global radiotherapy market?

What are the recent developments in the global radiotherapy market?

What are the different strategies adopted by the major players in the global radiotherapy market?

What are the geographical trends and high growth regions/ countries?

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Technological variations and advancements in radiotherapy, such as IMRT, IGRT, and 3-DCRT have provided the ability to precisely conform doses only to the tumor and haveminimized the need for fractionated treatments. Newer techniques, such as stereotactic body radiation therapy proved to be an effective radiotherapy technique with high radiation delivery and promising clinical outcomes. Further, proton and heavy ion therapy gained significant attraction as a breakthrough radiotherapy procedure as it reduces the radiation dose and the toxicities as compared to the traditional radiotherapy methods. In addition, researchers have also combined immunotherapy and radiotherapy to find the optimal radiation doses and balance the immunogenic effects caused due to radiation.

The global radiotherapy market studied in this report is segmented on the basis of procedure (external beam radiotherapy, internal beam radiotherapy), product (radiotherapy devices, radiotherapy consumables & accessories, software, and services), technology {external beam radiotherapy (IMRT, IGRT, SRT, 3D-CRT, and particle therapy) and internal beam radiotherapy [brachytherapy (HDR Brachytherapy, LDR Brachytherapy, IGBT, PDR Brachytherapy) and Systemic Radiation Therapy (Intravenous Radiotherapy and Oral Radiotherapy)]}, application (prostate, brain, breast, lung, head & neck, colorectal, cervical, others), end user (hospitals, independent radiotherapy centers, and cancer research institutes), and geography.

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On the basis of procedure, the external beam radiotherapy segment commanded the largest share of the overall radiotherapy market in 2019. Higher installations of external beam radiotherapy equipment, majorly linear accelerators based teletherapy units, due to their technical features like precise radiation delivery, less damage to normal tissues even at high radiation doses, and continuous advances in existing products is supporting the largest share of this segment.

On the basis of product type, radiotherapy devices commanded the largest share of the overall radiotherapy market in 2019. Increasing technological advancements and growing focus of key players on the development of new devices are the major factors driving the growth of the radiotherapy devices market. On the basis of application, the breast cancer segment held the largest share of the overall radiotherapy market in 2019. The factors such as growing incidence of breast cancer and increasing volume of diagnostic procedures and treatment for the disease are supporting the largest share of this segment.

On the basis of end user, hospitals commanded the largest share of the overall radiotherapy market in 2019; however, radiotherapy centers segment is estimated to grow at the fastest CAGR during the forecast period owing to increasing number of radiotherapy centers across the globe and government investments towards building radiotherapy facilities in developing regions.

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Geographica Review: 

Geographically, North America accounted for the largest share of the overall radiotherapy market in 2019, followed by Europe and Asia-Pacific region. However, Asia- Pacific region is expected to witness a rapid growth during the forecast period. The rapid growth of this market is mainly attributed to rising incidence and prevalence of cancer, rising awareness of various healthcare services and treatment options, rising number of middle-class population and their level of disposable income, increasing health insurance penetration, and growing aging population.

Key Players:

Some of the key players operating in the global radiotherapy market are Varian Medical Systems, Inc. (U.S.), Elekta AB (Sweden), Accuray Incorporated (U.S.), C. R. Bard, Inc. (U.S.), Mevion Medical Systems, Inc. (U.S.), Hitachi, Ltd. (Japan), ViewRay, Inc. (U.S.), Panacea Medical Technologies Pvt. Ltd. (India), Isoray, Inc. (U.S.), Optivus Proton Therapy, Inc. (U.S.), P-Cure, Ltd. (Israel), Provison Healthcare, LLC (U.S.), Ion Beam Applications S.A. (Belgium), and Theragenics Corporation (U.S.).

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