Radiotherapy Market: Rising Range of Applications Propelling Industry at A CAGR of 6.3%

Radiotherapy, also known as radiation therapy, is a common cancer treatment that utilizes high-energy radiation to target and destroy cancer cells. It works by damaging the DNA of cancer cells, preventing them from dividing and growing further. Radiotherapy can be delivered externally using a machine called a linear accelerator, which directs radiation beams towards the tumor from outside the body. It can also be delivered internally through the use of radioactive materials placed near or inside the tumor. Radiotherapy is often used as a standalone treatment or in combination with surgery or chemotherapy, depending on the type and stage of cancer. The goal of radiotherapy is to shrink tumors, alleviate symptoms, and potentially cure cancer by eradicating cancer cells.

Radiotherapy, also known as radiation therapy, is a type of cancer treatment that uses high-energy radiation to kill cancer cells and shrink tumors. It works by damaging the DNA of cancer cells, which prevents them from growing and dividing. The global radiotherapy market generated $6.5 billion in 2021, and is projected to reach $11.9 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031.

Radiotherapy Market in Short:

CAGR: 6.3%
Current Market Size: USD 11.9 Billion
Fastest Growing Region: APAC
Largest Market: North America
Projection Time: 2022-2031
Base Year: 2022

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What are the driving factors of Radiotherapy Market in the world?

Increase in patient population with cancer, rise in adoption of radiotherapy devices and procedures, owing to surge in number of awareness campaigns are some of the major factors driving the growth of the market.

Which is the leading segment among type of Radiotherapy Market?

Among type, the external beam radiotherapy segment dominated the radiotherapy market in 2021

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• Winning imperatives
• Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market

Covid-19 Situation –

• The COVID-19 pandemic has had a negative impact on the growth of the global radiopharmaceutical market, due to the rapid increase in the number of cases and the fear of contracting the coronavirus among people.
• Many hospitals have been converted into COVID-19 centres to treat patients who are severely infected with COVID-19. This made it difficult for cancer patients to receive their radiation treatment on time.

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Radiotherapy can be used as a standalone treatment or in combination with other cancer treatments such as chemotherapy, surgery, or immunotherapy. It can cause side effects, such as fatigue, skin irritation, and nausea, but these are typically temporary and can be managed with the help of a healthcare team.

Overall, radiotherapy is a highly effective treatment for many types of cancer and can provide significant benefits to patients. It is usually prescribed by a radiation oncologist, a specialist in the use of radiation therapy to treat cancer.

Major Key Market Players in the Industry –

• Accuray Incorporated,
• Eckert & Ziegler Group,
• Elekta AB,
• Ion Beam Applications SA,
• Becton,
• Dickinson and Company,
• ICAD INC.,
• ISORAY, INC.,
• MEVION MEDICAL SYSTEMS, INC.,
• Siemens Healthineers,
• NORDION INC.

Market: By Region Outlook

• North America (U.S., Canada, Mexico)
• Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
• LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)

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Important Questions Being Answered by This Market Report Are –

Q1. Which is the leading segment among type of Radiotherapy Market?

Q2. Which is the largest regional market for Radiotherapy Market?

Q3. What is the estimated industry size of Radiotherapy Market?

Q4. Which are the top companies to hold the market share in Radiotherapy Market?

Key findings of the study –

• This study provides an in-depth analysis of the Radiation Therapy industry, the current Radiation Therapy market trends, and the future plans to explain the upcoming revenue.
• By type, the external radiation therapy segment is the largest contributor to the market in 2021.
• From the end user, the hospital and hospital sector are the biggest contributor to the market in 2021.

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