The growing prevalence of cancer creates a higher demand for effective treatment options. Radiotherapy techniques offer a minimally invasive alternative to traditional surgery to treat solid tumors. As cancer rates continue to rise, there is an increasing need for treatments that can effectively target and destroy tumors, leading to the growth of the market.
Radiotherapy procedures are particularly valuable for patients with inoperable tumors. These may include tumors in critical or hard-to-reach areas or cases where surgery carries a higher risk due to the patient's overall health condition. Radiotherapy provides a viable treatment option for such patients, allowing tumor destruction without major surgery.
Moreover, the rising prevalence of cancer drives the demand for radiotherapy procedures as an effective and minimally invasive treatment option. The need to address the growing incidence of cancer, coupled with advancements in imaging technologies and the preference for less invasive procedures, fuels the growth of the radiotherapy market.
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Data Bridge Market Research analyzes that the Asia-Pacific Radiotherapy Market is expected to reach the value of USD 3,321.79 million by 2030, from USD 1,595.61 million in 2022, growing at a CAGR of 10.0% during the forecast period. This market report also covers pricing analysis and technological advancements in depth.
Key Findings of the Study
Increasing Inclination of Surgeons and Patients Toward Minimally Invasive Procedures
Minimally invasive procedures involve smaller incisions or needle insertions than traditional open surgeries. This results in less tissue damage, reduced blood loss, and lower risk of complications. These procedures typically have shorter hospital stays and faster recovery times. Patients can often resume their normal activities sooner, improving their quality of life.
Minimally invasive techniques often employ advanced imaging technologies, allowing surgeons to visualize and precisely target tumors. This enhances accuracy and helps preserve healthy surrounding tissues. The instruments are designed to provide greater maneuverability and agility, enabling surgeons to perform complex procedures with improved control and precision. The procedures involve smaller incisions, which reduces the risk of post-operative infections compared to open surgeries.
The increasing inclination of surgeons and patients towards minimally invasive procedures such as radiotherapy is driven by the desire for improved patient outcomes, faster recovery, and reduced healthcare costs. This trend has propelled the growth of the Asia-Pacific radiotherapy market, leading to increased adoption and advancements in minimally invasive techniques.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customisable 2020 to 2015)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, and Pricing in USD
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Segments Covered
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Product and Services (Services, Product, and Software), Type (External-Beam Radiation Therapy, Internal Radiation Therapy, Systemic Radiotherapy/ Radiopharmaceuticals, and Others), Application (Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer, Lymphoma, Liver Cancer, Thyroid Cancer, Brain Cancer, Cervical Cancer, Spine Cancer, and Others), End User (Hospitals, Radiation Therapy Centers, Specialty Clinics, and Others), Distribution Channel (Direct Tenders, Third Party Distributors, and Others)
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Countries Covered
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China, Japan, India, Australia, South Korea, Indonesia, Philippines, Thailand, Malaysia, Singapore, and Rest of Asia Pacific
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Market Players Covered
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Siemens Healthcare GmbH (Germany), Elekta (Sweden), General Electric Company (U.S.), Hitachi, Ltd.(Japan), Koninklijke Philips N.V.(Netherlands), Zeiss International (Germany), IBA Worldwide (Belgium), CANON MEDICAL SYSTEMS CORPORATION (Japan), Accuray Incorporated (U.S.), Mevion medical Systems (U.S.), Brainlab AG, Eckert & Ziegler BEBIG (Germany), VIEWRAY TECHNOLOGIES, INC. (“VIEWRAY”)(U.S.), and Nordion (Canada) Inc. (A Subsidiary of Sotera Health) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis
The Asia-Pacific radiotherapy market is categorized into five notable segments which are on the basis of product and services, type, application, end user, and distribution channel.
- On the basis of product and services, the market is segmented into services, product, and software
In 2023, the services segment is expected to dominate the market
In 2023, the services segment is expected to dominate the market due to the rising prevalence of cancer worldwide with a market share of 55.95%.
- On the basis of type, the market is segmented into external-beam radiation therapy, internal radiation therapy, systemic radiotherapy/ Radiopharmaceuticals, and others
In 2023, the external beam radiation therapy segment is expected to dominate the market
In 2023, the external-beam radiation therapy segment is expected to dominate the market due to the rising demand for radiotherapy among the population with a market share of 66.06%.
- On the basis of application, the 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. In 2023, the breast cancer segment is expected to dominate the market with a market share of 21.92%
- On the basis of end user, the market is segmented into hospitals, radiation therapy centers, specialty clinics, and others. In 2023, the hospitals segment is expected to dominate the market with a market share of 63.39%
- On the basis of distribution channel, the market is segmented into direct tenders, third party distributors, and others. In 2023, the direct tender segment is expected to dominate the market with a market share of 81.56%
Major Players
Data Bridge Market Research analyses Elekta (Sweden), General Electric Company (U.S.), CANON MEDICAL SYSTEMS CORPORATION (Japan), Hitachi, Ltd. (Japan), and Siemens Healthcare GmbH (Germany) as the major companies operating in Asia-Pacific radiotherapy market.
Market Developments
- In October 2021, General Electric Company presented innovative multi-modality radiation therapy solutions that are designed to improve patient-centred care and advance the practice of precision medicine. Through this presentation, the company has strengthened its role as a core partner in cancer treatment and diagnosis
- In April 2021, Siemens Healthcare GmbH acquired Varian Medical Systems, Inc., a company focused on the development and commercialization of cancer treatment products including radiotherapy. This acquisition enhanced the company’s existing product portfolio and accelerated the company’s growth in the market
- In June 2020, CANON MEDICAL SYSTEMS CORPORATION partnered with leading Russian healthcare provider R-pharm for maintenance and sales of diagnostic imaging equipment. Through this partnership, the company has boosted the overall company’s revenue
- In June 2020, Accuray Incorporated announced that they have launched CyberKnife S7 System which is an advanced innovative device for real-time artificial intelligence (AI)-driven motion tracking and synchronization treatment delivery for all stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT) treatments. After launching a new product company enhanced its product portfolio and generated adequate revenue
- In May 2020, Hitachi, LTD. announced that they had installed their first advanced proton therapy system at the Clínica Universidad de Navarra (Madrid, Spain). Clínica Universidad de Navarra is the first hospital where Hitachi installed the whole proton therapy system. After this announcement company enhanced its business and generated adequate revenue
Regional Analysis
Geographically, the countries covered in the Asia-Pacific Radiotherapy market are China, Japan, India, Australia, South Korea, Indonesia, Philippines, Thailand, Malaysia, Singapore, Rest of Asia-Pacific.
As per Data Bridge Market Research analysis:
China is expected to dominate the Asia-Pacific radiotherapy market
China is expected to dominate the Asia-Pacific radiotherapy market with the largest market share due to advancements of the healthcare system and the rising prevalence of various types of cancer along with the largest patient pool.
India is expected to be the fastest growing country in the Asia-Pacific radiotherapy market
India is expected to be the fastest growing country in Asia-Pacific radiotherapy market in the forecast period due to growing prevalence of cancer and greater population surge. Rising demand for radiotherapy and increasing establishments of radiotherapy service centers are major driving factors for India.
For more detailed information about the Asia-Pacific Radiotherapy Market report, click here – https://www.databridgemarketresearch.com/reports/asia-pacific-apac-radiotherapy-market
