Recognizing the traction, the market is witnessing globally; Market Research Future (MRFR) in its recently published study report asserts that the Global Image Guided Radiotherapy Market will register a CAGR of 15.8% during 2017 – 2023, accruing pervasively by 2023.
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Image Guided Radiotherapy or IGRT is a type of conformal radiotherapy involving the use of different scans and X-rays to treat a specific area of cancer growth. Image-guided radiation therapy integrated with a technique called intensity-modulated radiotherapy (IMRT), enables to shape the radiation beam to the outline of tumors in real time, even as they move in the body. This treatment targets tumors with pinpoint accuracy, and minimize the side-effects caused by damage to healthy tissue.
Global Image Guided Radiotherapy Market – Competitive Landscape
The market is fiercely competitive due to the presence of numerous large & small players, having the international presence. The global market for image guided radiotherapy appears intensely competitive with the several large and small players forming a competitive edge in the market incorporating strategic partnership, collaboration, acquisition, expansion, and technology launch. Significant investments are transpired in the field to bring innovations in the therapy and clinical trials.
Some of the imminent players in the image guided radiotherapy market are General Electric Company (US), ViewRay (US), Hitachi, Ltd. (Japan), Koninklijke Philips N.V. (Netherland), Siemens AG (Germany), Varian Medical Systems, Inc. (US), Toshiba Corporation (Japan), Vision RT Ltd. (UK), XinRay Systems (US), C-RAD (Sweden), and Scranton Gillette Communications (US).
Industry/ Innovation/Related News:
September 13, 2018 – ViewRay, Inc. (US), a medical technology company announced the unveiling of its new, MRIdian MR-Image guided radiation therapy in the Acibadem Maslak Hospital in Istanbul, Turkey for the Next Generation Cancer Care.
ViewRay’s MRIdian® Linac is the world’s first system to combine MRI guidance and linear accelerator radiation delivery. These treatments mark the first in Turkey.
MRIdian MRI-guided radiotherapy represents the latest advancement in the field of radiation oncology that allows clinical improvements in visualization and precision daily plan adaptation, providing the tools to deliver higher and potentially more effective radiation doses.
Global Image Guided Radiotherapy Market – Segments
By Types: Soft-Tissue Imaging, Lung MRI, Simplifying Cardiac MRI, Simplifying MRI-Conditional Implant Scans, and Silent MRI Scanning.
By Technologies: Radiation-Based (electronic portal imaging devices (EPID), cone beam CT, Fan beam, and others.), and Non-Radiation Based Systems (ultrasound-based systems, camera-based or optical tracking systems, MRI-guided IGRT, and others.), among others.
By Devices: X-ray computed tomography (digital X-ray, computed tomography (CT), conventional CT, optical tracking, cone beam, MVCT, and others.), magnetic resonance imaging (MRI), positron emission tomography, and others.
By End-users: Hospitals, Smart Cancer Centers, and Research Institutes among others.
By Regions: APAC, North America, Europe, and the Rest-of-the-World.
Global Image Guided Radiotherapy Market – Geographical Analysis
The North American region dominates the global image guided radiotherapy market. The market growth is majorly supported by the radiotherapy market in the US which is growing due to the large patient pool and substantial healthcare expenditures.
Furthermore, the increasing prevalence of types of cancer and thyroid fuelled by the consequences of the wrong lifestyle fosters the market growth in the region. Moreover, factors such as technological advancement and well-spread awareness among people towards the benefits of this therapy support the market growth.
The image guided radiotherapy market in the European region rapidly emerging as another lucrative market owing to the increasing number of cancer patients in the region. Furthermore, the proliferation of advanced treatment facilities alongside the availability of skilled medical professionals, and the government support for research & development drives the market in the region.
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The Asia Pacific region accounts for another promising market for the image-guided radiotherapy. Factors substantiating the market growth include the increasing prevalence of cancer, spreading awareness among people about cancer, and the availability of new treatment methods. Proliferating markets in China and India majorly contribute to the market growth in the region.
The Image Guided Radiotherapy market in the Middle East and Africa region is expected to witness a slow growth due to the lack of awareness of the chronic diseases and the limited treatment facilities in these regions.
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