The radiotherapy industry has grown significantly in the past few years owing to the increased pace of innovation. Market Research Future which concentrates on market reports linked to medical device sector amongst others recently made available a report on this sector. The sector will develop very swiftly at a rate of 7 per cent CAGR while it is consequently projected to reach USD 7 million during the forecasted period.
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Rapid development in the market due to increased pace of innovations that have been achieved in this field have led to the robust development of the market. Increased incidences of cancer cases of various categories have been fuelling the growth of this sector to a great extent. Better diagnostic abilities of the medical service providers have also been instrumental to the development of the market.
The division for the radiotherapy sector has been carried out on the category of the application and treatment type. The category of treatment type comprises of Gamma ray, X-Ray, proton therapy, external beam radiotherapy and internal radiation therapy. The external beam radiotherapy category is additionally sub-divided into the treatment types which include intensity modulated radiation therapy (IMRT), 3D conformal radiation therapy, Tomotherapy, Stereotactic radio surgery, image guided radiation therapy (IGRT) and stereotactic body radiation therapy. On the criteria of application the categories are breast cancer, prostate cancer and lung cancer, thyroid and ovarian cancer.
Global Radiotherapy Market – Geographical Analysis
North America dominates the Radiotherapy market globally; the growth is largely supported by the US. The market is fostered by the increasing prevalence of types of cancer and thyroid fuelled by the consequences of the wrong lifestyle. Factors such as technological advances coupled with the increasing healthcare expenditure support the market growth.
The Europe region is another lucrative market for the Radiotherapy.
The Asia Pacific region is emerging as a promising market for the Radiotherapy owing to the increasing number of cancer patients in the region.
The 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.
Global Radiotherapy Market – Competitive Landscape
The Radiotherapy market is fiercely competitive due to the presence of numerous large & small players, having the international presence.
Some of the leaders driving the Global Radiotherapy Market are Siemens (Germany), GE Healthcare (UK), Varian (India), Nordion (CA), Cardinal Health (US), Isoray (US), Fuji Holdings (Japan), View ray (US), Philips Healthcare (US), Hologic (US), and Shimadzu Corporation (Japan).
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