Radiotherapy Market Outlook
According to the MRFR reports, the global radiotherapy market is likely to attain a size of over USD 5200 million by the end of 2025 while flourishing at a healthy CAGR of over 4.7% during the assessment timeframe.
Radiotherapy, also known as radiation therapy, is widely utilized in cancer treatment. There are two different types of doses in radiotherapy. The global radiotherapy market has recorded enormous growth in recent years, owing mainly to the consistent technological advancements in the last decade. Furthermore, the factors such as growth in personal disposable income among people and per capita income, increase in cancer cases, and advancement in real-time imaging are also likely to accelerate the growth of the radiotherapy market over the forecasted era. On the other hand, the growth of the radiotherapy market is likely to be restricted by the lack of awareness and high costs associated with the therapy.
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Radiotherapy Market Segment Analysis
The global radiotherapy market has been divided into several segments based on end-user, application, equipment, type, and region.
Based on type, the radiotherapy market is split into external beam radiation market, internal radiation therapy, and systematic radiation therapy.
Based on application, the radiotherapy market is split into skin and lip cancer, head and neck cancer, breast cancer, prostate cancer, cervical cancer, lung cancer, spine cancer, and many others.
The global radiotherapy market is split into linear accelerators, radiation therapy simulators, and treatment planning systems based on equipment.
The global radiotherapy market is split into hospitals and radiotherapy centers by end-user.
The radiotherapy market is studied across five major regions: Asia-Pacific, North America, South America, Europe, and the Middle East & Africa.
The North American region is likely to secure the top position in the global radiotherapy market. The increasing cancer cases are driving the growth of the regional market, increase in per capita income, and growing investment in the healthcare sector.
The European region is likely to secure the second position in the radiotherapy market. The upsurge in the regional market’s growth rate is attributed to a well-established healthcare system and an increase in cancer diseases among habitats across the region.
The Asia-Pacific regional market for radiotherapy secures the third position across the globe. The regional market’s growth is being driven by the increasing initiatives taken for healthcare reforms by the government and the increasing number of patients in the Asia-Pacific region.
The Middle East & African regional radiotherapy market is anticipated to record the least growth during the review timeframe due to the low disposable income and inadequate medical infrastructure.
The radiotherapy market has an intensely competitive landscape. The players in the global market are adopting several new strategies such as partnerships, mergers, and acquisitions to grow their global market reach. The list of leading players in the global radiotherapy market includes Varian Medical Systems, Inc., Provision Healthcare, LLC, Panacea Medical Technologies Pvt. Ltd., Mevion Medical Systems, Inc., IBA (Ion Beam Applications) SA, Elekta, Elekta AB (pub), P-Cure Ltd., Optivus Proton Therapy, Inc., Isoray Medical, Inc., Hitachi, Ltd., R. Bard, Inc., and several others.
Accuray Incorporated ARAY has announced that the company has got approval from the Japanese Ministry of Health, Labor, and Welfare (Shonin) for the marketing of the CyberKnife Robotic Radiosurgery System in Japan. At present, the system is used for treating trigeminal neuralgia (TN) in EIMEA, the United States, and some other parts of the globe.
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a social e-commerce platform in China, Xiaobai Maimai Inc., announced that the company is planning to enter the radiation oncology services market across the U.S. The firm has recently founded a subsidiary based in New York, We Health Limited, to step into the cancer therapy and radiation oncology business in the U.S.
Roper Technologies Inc. announced its plans to sell its Civco Radiotherapy business partner, a private-equity firm Blue Wolf Capital Partners LLC, in an all-cash transaction worth USD120 million.
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