According to the report “Global Radiotherapy Market,” published by Market Data Forecast, the global market is estimated at USD 7,293 million by 2021, at a CAGR of 6% from 2016 to 2021.
Radiation therapy is considered as the key cancer treatment and for alternative type of treatment. Radiotherapy is a treatment for cancer that uses radiation, usually X-rays, to treat illness.Radiation therapy is also used to contract tumours and decrease pressure, pain, and other symptoms of cancer. This therapy may be healing in a number of different types of cancer if they are confined to one area of the body.
Radiotherapy is also sometimes used to treat benign tumors and other conditions, such as thyroid disease and some blood disorders. Radiotherapy is used alone or in combination with chemotherapy (chemoradiotherapy) to treat cancer. Radiotherapy is effective in controlling symptoms of cancer. Radiotherapy may be used before surgery or after surgery to destroy small tumor cells that may be left. Radiotherapy can be external, internal or systemic.
Electromagnetic waves or high-energy radioactive particles are used in radiation therapy for destroying cancer cells, repair physiological abnormalities and shrink tumour 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.
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Global Radiotherapy Market: Drivers & Restraints
Technological developments in radiotherapy products, increase in 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 offers better facilities. Lack of sufficient infrastructure and adequate skills are the major restrain for the growth of radiotherapy market.
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Global Radiotherapy Market: Segmentation
- External Beam Radiation Therapy
- Intensity-Modulated Radiation Therapy (IMRT)
- Image-Guided Radiation Therapy (IGRT)
- Stereotactic Radiosurgery
- Stereotactic body Radiation Therapy
- Proton Therapy
- Internal Beam Radiation Therapy
- Systemic Radiation Therapy
- Skin & Lip Cancer
- Head & Neck Cancer
- Breast Cancer
- Prostate Cancer
- Cervical Cancer
- Lung Cancer
- Spine Cancer
By Equipment Type
- Linear Accelerators
- Radiation Therapy Simulators
- Treatment Planning Systems
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Global Radiotherapy Market: Overview
The prostate cancer application segment is estimated to hold the largest share in both external beam radiotherapy market along with internal radiotherapy market. The radiation therapy devices market was valued at over US$ 4 Bn by 2016 end. In 2016, the global stereotactic radiation therapy equipment market accounted for a small share in the global radiation therapy equipment market. Cyber knife and gamma knife therapies are non-invasive and painless and integrate robotics and image guidance to locate and target lesions or tumors. Cyber knife and gamma knife are known for their radiological accuracy of 0.15 mm to 1.1 mm respectively. Unlike cyber knife, gamma knife is mainly used to treat brain tumors. Hence, the overall segment is expected to register a significant CAGR during the forecast period.
Global Radiotherapy Market: Region-wise Outlook
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 2016, while Asia-Pacific is anticipated to raise at the highest rate during the forecast period from 2016 to 2021. Growing number of cancer patients in Asia-Pacific region is predicted to drive the radiotherapy market in this region.
Key Questions Answered
- What is the current and future Radiotherapy Market outlook Globally? What trends are affecting the worldwide market?
- What is the competitive landscape and market share of major players in the Radiotherapy space in Global?
- What are the key, high growth markets that Radiotherapy manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Radiotherapy currently on the market? How will emerging technologies fulfil these unmet needs?
- What are the Strategic recommendations in key business segments based on the market estimations?
- What is physician perception and market outlook of Radiotherapy?
- What are the challenges and barriers that have hindered widespread adoption of Radiotherapy?
- What are the two major areas of focus in Radiotherapy?
Global Radiotherapy Market: Key Players
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.), and Mitsubishi Electric Corporation (Japan) are the key players in the radiotherapy market.
Reasons to buy Global Radiotherapy Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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