Increasing Cancer Cases Expected to Drive the Market's Growth

According to the "American Cancer Society," the estimated new number of cancer cases in 2021 was 1.9 million, and the same source predicted that the new number of cancer cases in 2022 was 1.9 million. Furthermore, the "National Cancer Institute" estimates that 290,560 new cases of breast cancer diagnosed in the United States in 2022. The next most common cancers in the United States are prostate cancer and lung cancer. This cancer burden is expected to drive the country's demand for radiotherapy. Thus, the country's cancer incidence and prevalence necessitate the development of advanced radiotherapy treatments, which is expected to drive overall market growth in the region.

According to Data Bridge Market Research the Radiotherapy Market accounted for USD 7,537.29 million in 2021, and expected to reach USD 12,194.17 million by 2029. The market is expected to grow with a CAGR of 6.4% in the forecast period of 2022 to 2029.

“Technological Advancement in Radiotherapy Devices is Facilitate Market Growth”

The medical field has seen significant technological advancement over the last few decades. Radiotherapy device advancements occurred during the same time period and are continuing to grow. Technological advancements have aided in the development of low-cost, user-friendly, and more effective radiotherapy devices. These devices or radiotherapy products are available with more precise and improved radiation dose delivery, allowing for more efficient tumour targeting. Many radiotherapy devices were upgraded from 2D to 3D, allowing for high-quality radiation conformity with real-time imaging of a target tumour. This has also increased the dose while improving tumour control. The demand for such advanced devices has been increasing as a result of the significant success rates for cancer patients. This has also resulted in the continuous research and development of new radiotherapy techniques, devices, or products.

What restraints the growth of Radiotherapy Market?

“Unskilled professionals”

Lack of skilled professionals with technical expertise could restrain business prospects. Healthcare facilities worldwide have been struggling with a shortage of healthcare professionals that can operate radiotherapy equipment for treating different chronic conditions.

Segmentation: Radiotherapy Market

The radiotherapy market is segmented on the basis of type, product, application, end user, and distribution channel. 

  • On the basis of type, the radiotherapy market is segmented into external-beam radiation therapy, internal radiation therapy, systemic radiotherapy/radiopharmaceuticals, and others.
  • On the basis of product, the radiotherapy market is segmented into external beam radiotherapy, internal radiotherapy products, radiotherapy software, systemic radiotherapy, and others.
  • On the basis of application, the radiotherapy market is segmented into breast cancer, lung cancer, prostate cancer, colorectal cancer, lymphoma, liver cancer, thyroid cancer, brain cancer, cervical cancer, spine cancer, and others.
  • On the basis of end user, the radiotherapy market is segmented into hospitals, radiation therapy centers, specialty clinics, and others.
  • On the basis of distribution channel, the radiotherapy market is segmented into direct tender, retail sales, and others.

 Regional Insights: North America is expected to dominate the Radiotherapy Market

North America is expected to dominate the market as the number of radiotherapies has increased in recent years as a result of the increasing high adoption of radiotherapy for the treatment of cancer diseases and the increasing prevalence of cancer disease in the region. Because of the continuous increase in the number of cancer patients in the United States, the United States is expected to dominate the radiotherapy market and lead growth in the North America region.

  • In addition, the Asia-Pacific region is likely to register highest growth rate during the forecast period of 2022 to 2029 due to high cancer patient pool, rising awareness about importance of early screening and treatment, increasing investments by government and private organizations and growing focus on developing novel and enhanced products and improving existing systems. Furthermore, rising disposable income, improved healthcare infrastructure and facilities, and rising healthcare spending are all factors driving Asia Pacific market revenue growth. in the burden of and trends in specific neurological disorders across states.

To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-radiotherapy-market

Recent Developments in Radiotherapy Market

  • In 2020, Elekta AB introduced the Leksell Gamma Knife, a next-generation treatment optimizer for intracranial stereotactic radiosurgery. The company expanded its product portfolio and generated sufficient revenue by launching a new product.
  • In 2019, Siemens Healthcare GmbH introduced two dedicated CT systems, Somatom go. For radiation therapy planning, use Open Pro. The new system improves radiotherapy planning accuracy. The company has expanded its product portfolio and generated sufficient revenue in the market by launching new products.

The Prominent Key Players Operating in the Radiotherapy Market Include:

  • CANON MEDICAL SYSTEMS CORPORATION (Japan)
  • Mirada Medical Limited (U.K.)
  • ProTom International (U.S.)
  • Mevion Medical Systems (U.S.)
  • VIEWRAY TECHNOLOGIES, INC. ("VIEWRAY") (U.S.)
  • Elekta (Sweden)
  • Accuray Incorporated (U.S.)
  • IBA Worldwide (Belgium)
  • Eckert & Zeigler BEBIG (Germany)
  • RaySearch Laboratories (India)
  • Brainlab AG (Germany)
  • Advanced Oncotherapy (U.K.)
  • Hitachi, LTD. (Japan)
  • Sumitomo Heavy Industries, Ltd. (Japan)

Above are the key players covered in the report, to know about more and exhaustive list of radiotherapy   market companies contact, https://www.databridgemarketresearch.com/contact

Research Methodology: Global Radiotherapy Market

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.