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.
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.
The Image-Guided Radiotherapy is considered as a proven, effective cancer treatment which is allowing its market to accrue vastly. Certainly, technological advancements transpired in the medical science and biotechnology is a major driving force that escalates the market on the global platform, improving the outlook for cancer treatments and sufficiently controlling the spread of the diseases.
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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.
Key Players:
Some of the key players in The Imaging Guided Radiotherapy Market are ViewRay (US), General Electric Company (US), Hitachi, Ltd. (Japan), Siemens AG (Germany), Koninklijke Philips N.V. (Netherland), TOSHIBA CORPORATION (Japan), Varian Medical Systems, Inc. (US), Vision RT Ltd. (UK), Scranton Gillette Communications (US), XinRay Systems (US), and C-RAD (Sweden).
Industry Updates
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.
Nov 2017 ViewRay, Inc. has successfully installed the MR-Guided Radiotherapy System in Washington University. This initiative is expected to increase the customer base for ViewRay Inc. and strengthen its position in USA.
Nov 2017 ViewRay, Inc. has successfully installed the MRIdian® Linac in Rigshospitalet and Herlev Hospitals, Denmark. This initiative is expected to strengthen its market in Europe.
Dec 2017 Varian’s Halcyon Treatment System, an image guided radiotherapy has recently received ANVISA Registration from Brazil. With this approval Varian has expanded its reach in Latin America and has the opportunities to increase the overall customer base.
June 2016 Merck to acquire afferent pharmaceuticals in a deal where Merck will acquire a privately held afferent pharmaceuticals. Afferent pharmaceuticals are a leader in the development of therapeutic, thus this acquisition will benefit Merck and strengthen their therapeutic segment.
Global Imaging Guided Radiotherapy Market – Segmentation
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 Imaging Guided Radiotherapy Market – Regional Analysis
According to regions, the Global Imaging Guided Radiotherapy Market is dominated by North America. The factor contributing for its growth includes the rising medical tourism and increasing healthcare sector privatization in this region. According to National Institute of Health (NIH) it has been found that in 2016, a projected 1,685,210 new cases of cancer will be detected in the United States and 595,690 individuals will die from the disease which further increases the growth of the market.
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Asia-Pacific market is expecting to be the fastest growing market. This high growth is mainly attributed due to increasing R&D funding by the developing countries like China and India for the development of healthcare sector. The various other factors that influence the growth of the market include growing incidence of cancer, aging population, increasing demand for advanced therapies, patent expiry of leading drugs, government initiatives and increasing public awareness about various diseases and treatment options.
Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
Continued….
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