Radiotherapy Market Demand, Growth & Future Outlook, Size, Share | Global Industry Analysis, 2019-2025
Meticulous Research® – leading global
market research company published a research report titled “RadiotherapyMarket by Product (Radiotherapy devices, Software, Service), By Procedure
(EBRT, Brachytherapy, Systemic Radiotherapy), By Technology (IMRT, SRT, VMAT,
HDRBT, LDRBT, PDRBT), By Application (Prostate, Breast) – Global Forecasts to
2025”.
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| Radiotherapy Market by Meticulous Research® |
According to this latest publication from MeticulousResearch®, the global radiotherapy market is expected to grow at aCAGR of 5.6% from 2019 to reach $10.15 billion by 2025. The growth in radiotherapy market is mainly attributed to 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. In addition, significant opportunities from emerging economies and growing government investments for treatment of cancer offer growth opportunities for the players operating in this market. However, high cost and complexities associated with the radiation procedures, paucity of skilled healthcare professionals, and lack of advanced infrastructure facilities are the key factors expected to hinder the adoption of radiotherapy products.
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Growth Prospects in Radiotherapy
Market
The global radiotherapy market study presents historical
market data in terms of values (2017 and 2018), estimated current data (2019),
and forecasts for 2025 - by product (radiotherapy devices, radiotherapy
consumables & accessories, software, and services), by procedure (external
beam radiotherapy and internal beam radiotherapy), by technology (external beam
radiotherapy (IMRT, IGRT, SRT, 3DCRT, Particle Therapy), internal beam
radiotherapy (high-dose rate brachytherapy, low-rate brachytherapy,
image-guided brachytherapy, pulse-dose rate brachytherapy, intravenous systemic
radiotherapy and oral systemic radiotherapy), application (breast, prostate,
brain, lung, lung, head & neck, colorectal, cervical, and others), end user
(hospitals, independent radiotherapy centers, cancer research institutes), and
Geography. The study also evaluates industry competitors and analyzes the
market at regional and country level.
Based on product, the radiotherapy devices segment
accounted for the largest share of this market in 2018. The large share of this
segment is mainly attributed to increasing installations of radiotherapy
systems globally and frequent product launches with advanced technology.
Based on procedure, the external beam radiotherapy segment
accounted for the largest share of this market in 2018. The large share of this
segment is mainly attributed to higher & growing adoption of external beam
radiotherapy procedures due to better clinical outcomes and less damage to
normal tissues even at high radiation dose, and increasing installations of the
external beam radiotherapy systems, globally. In external beam radiotherapy
segment, linac based teletherapy accounted for the largest share. The high
growth of this segment can be attributed to their growing adoption owing to
accuracy in tumor treatment, high radiation penetration, and radiation
deposition within small volume limiting damage to normal cells.
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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 a fastest CAGR during the
analysis period, 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.
Based on application, breast cancer segment is forecasted
to grow at a fastest CAGR during the forecast period due to rising incidence of
breast cancer and related mortality, rising diagnosis and treatment rate of the
disease with growing awareness about the fatality and benefits of early
diagnosis and treatment across the globe.
The hospitals segment held the largest share in the
global radiotherapy market in 2018. This is
primarily attributed to large volume of radiotherapy procedures performed in
hospitals owing to their easy accessibility, availability of advanced
infrastructure, and availability of wide range of healthcare services across
various disease areas. Growing number of hospitals and government initiatives
to develop advanced healthcare facilities are further supporting the growth in
this segment.
This research report analyzes major geographies and
provides comprehensive analysis for North America (U.S., Canada), Europe
(Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China,
Japan, India, and RoAPAC), Latin America, and Middle East & Africa. North
America commanded the largest share of the global radiotherapy market in 2018,
followed by Europe and Asia Pacific. However, Asia Pacific region is expected
to grow at the higher CAGR during the forecast period. Growth in this market is
expected to be driven by large pool of cancer patients; increasing government
focus on healthcare sector; and increasing disposable income of the population
driving access to better healthcare services and cancer diagnosis and
treatment. In addition, favorable government policies and healthcare structural
reforms are further expected to drive the market growth.
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Key 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.
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 opportunitiesss 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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