Radiotherapy, also known as radiation treatment, employs ionizing radiation to invade and maim cancer cells by delivering focused doses of light. The sophisticated technology employed in radiotherapy kills malignant cells by blasting them with radiation while limiting harm to healthy cells around them. Radiotherapy is the most successful and cost-efficient cancer treatment, and when combined with modern technologies like image-guided therapy, it allows for better tumor and toxicity management.
External beam radiation treatment, internal beam radiation therapy/brachytherapy, and systemic radiation treatment are some of the radiotherapies that can be used to treat cancer. Brachytherapy is frequently used to treat malignancies of the head and neck, breast, cervix, prostate, and eye, whereas systemic radiation therapy is frequently used to treat thyroid tumors using radioactive iodine.
The global radiotherapy market was worth $5,253.7 million in 2016, and it is anticipated to grow at a 6.8 percent CAGR over the next five years (2017 – 2025).
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Globally, the growing cases of oncology illnesses such as prostate cancer, lung cancer, and breast cancer is increasing the demand for prompt treatment to minimize mortality. This, as a consequence, is a significant element driving the global radiotherapy market forward. According to the International Cancer Association, cancer kills more people each year than AIDS, TB, and other infectious diseases combined. This reflected the rising need for improved cancer-management technology. Lung cancer is one of the most common diseases globally, according to the World Cancer Research Fund Organization, with 1.9 million new cases identified in 2012, accounting for 13 percent of all new cases. Since the frequency of cancer among children rises, demand for radiation treatment is projected to rise, as it is a highly recommended therapy with fewer side effects than chemotherapy. This is predicted to drive market growth, given the substantial negative effects of chemotherapy.
Due to the rising frequency of cancer in the U.S. and the growing desire for new treatments over conventional chemotherapies to reduce side effects associated with chemotherapies, North America is anticipated to dominate the global radiotherapy market. According to the National Cancer Institute, in 2016, an estimated 1,685,210 new instances of cancer were identified in the United States, with 595,690 cancer-related confirmed deaths. According to the poll, public spending on cancer care in the U.S. reached US$ 125 billion in 2010 and is expected to reach US$ 156 billion in 2020.
Due to the rising number of government programs for cancer treatment, Europe is anticipated to be the fastest-growing area in the global radiotherapy market. This, in turn, will increase the introduction of innovative medicines in the worldwide market. The National Cancer Program was created by the Swedish government in 2015 to make cancer care more equal and affordable. The Swedish Testbed for Revolutionary Radiotherapy was created in 2017 as a collaborative platform to allow healthcare providers and market stakeholders in Sweden to evaluate novel technology and methodologies in hospital studies for the creation of fresh cancer therapies. In 2016, the National Health Service of England announced a US$ 183 million investment to enhance radiation, ensuring that patients have access to the most cutting-edge equipment and, as a result, revolutionizing cancer treatment in England.
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Higher radiation equipment efficiency combined with improved clinical results will propel the global radiotherapy market forward. Owing to its cost-effectiveness, radiotherapy is becoming more widely used for chemotherapy. According to a research by The Mesothelioma Center, radiation therapy costs an average of US$ 2,000 each session, while chemotherapy costs about US$ 7,000 for the primary diagnosis. According to a research published in the journal Frontiers of Oncology in 2014, radiation had a 40 percent influence on medical breakthrough, compared to 11 percent of patients treated with systemic therapies globally. According to the Royal College of Radiologists, radiation is a safe, contemporary, and effective targeted remedy that accounts for 40 percent of cancer cures, whereas pharmacological therapy accounts for 10 percent of cancer cures.
Moreover, radiation may harm organs such as the stomach, colon, liver, and kidneys that are close to the treatment site, providing a stumbling block to the global radiotherapy market’s expansion.
Key companies contributing in the global radiotherapy market are Ion Beam Applications S.A., Isoray Medical, Inc., Elekta AB, Varian Medical Systems, Inc., Accuray Incorporated, ProTom International, Inc., Mevion Medical Systems, Inc., Hitachi Ltd., CIVCO Radiotherapy, and C.R. Bard, Inc.
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• To gain an in-depth understanding of Radiotherapy market globally
• To identify the on-going trends and anticipated growth in the next nine years
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Table of Content
Global Radiotherapy Market Research Report
Section 1: Global Radiotherapy Industry Overview
Section 2: Global Economic Impact on Radiotherapy Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Radiotherapy Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Radiotherapy Market Forecast
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