The global incidence of cancer continues to rise due to factors such as aging populations, lifestyle changes, environmental factors, and increased cancer awareness and screening. The demand for effective treatment options such as radiotherapy grows as more individuals are diagnosed with cancer. Radiotherapy can be used as a primary treatment for cancer, especially in cases where surgery is not feasible or as effective. It can also be used in conjunction with surgery, chemotherapy, or immunotherapy to enhance treatment outcomes. The versatility of radiotherapy makes it an essential tool in the comprehensive cancer treatment arsenal.
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Cancer disease has a major impact globally. Statistics on cancer describe that large groups of people have cancer across the world. Statistics show things that many people died from cancer each year. The treatment of radiotherapy can cure cancer symptoms. Radiation therapy uses high-energy particles or waves to kill the symptoms of cancer. Several people who are currently living with cancer require radiotherapy for cancer treatment. For this reason, the growing prevalence of cancer disease is acting as a driver for increasing the demand for the market.
Data Bridge Market Research analyses that the Global Radiotherapy Market is expected to grow at a CAGR of 8.5% in the forecast period of 2023 to 2030 and is expected to reach USD 14,814.30 million by 2030. The rising technological advancements are projected to drive market growth.
Key Findings of the Study
Novel Technology in Radiotherapy for Cancer Treatment
During the past several years, cancer radiotherapy has been largely driven by technological development. The technological development in radiotherapy is mainly focused on improving therapy procedures and launching new products which have advanced features that help in the treatment of cancer patients. This special issue aims at novel technological developments and has large potential in improving patient safety and treatment outcome in the radiotherapy management of cancers worldwide.
For instances,
- Elekta AB (PUB) has launched their new product Leksell Gamma Knife which is a next-generation treatment optimizer for intracranial stereotactic radiosurgery
- Elekta AB (PUB) announced that they had launched Geneva, which is the first universal gynecological applicator for brachytherapy. Some solutions are designed to meet the real-world needs of the front-line of cancer therapy
- Accuray Incorporated has 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
- Koninklijke Philips N.V. has launched IntelliSpace Radiation Oncology which is used to accelerate the time from patient referral to the start of treatment. This solution is used to manage the complexity, improve efficiency and enable operational excellence in radiotherapy departments
The modern and advanced technology-based radiotherapy procedure comprises the use of three-dimensional (3D) imaging technology, high-energy x-ray machines, and computerized treatment planning, which enhances the chances for more precise treatment possible. The increasing number of patients who successfully use radiation therapy due to technological advancement in radiotherapy and novel technology in radiotherapy for cancer treatment is expected to drive market growth.
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 (Customizable 2015 - 2020)
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Quantitative Units
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Revenue in USD Million
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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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U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, Sweden, rest Of Europe, China, Japan, Australia, India, South Korea, New Zealand, Singapore, Thailand, Malaysia, Vietnam, Taiwan, Indonesia, Philippines, rest Of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Bahrain, Kuwait, Qatar, Oman, Morroco, and rest of Middle East and Africa
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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.), Nordion (Canada) Inc. (A Subsidiary of Sotera Health), and P-Cure (Israel) 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 global radiotherapy market is segmented into five notable segments such as 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 global radiotherapy market
In 2023, the services segment is expected to dominate the market with a market share of 55.19% due to its increasing demand among the population.
- 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 with a market share of 64.42% due to rising technological advancements.
- 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 20.65%.
- 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 62.74%.
- On the basis of distribution channel, the market is segmented into direct tenders, third party distributors, and others. In 2023, the direct tenders segment is expected to dominate the market with a market share of 81.23%.
Major Players
Data Bridge Market Research recognizes the following companies as the market players in global radiotherapy market are 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.), Nordion (Canada) Inc. (A Subsidiary of Sotera Health), and P-Cure (Israel) among others.
Market Developments
- In May 2023, BEBIG Medical. Signed agreement with Klarity Medical for the distribution of BEBIG Medical’s Radiotherapy in the U.S. market. This helped the company to establish its global presence
- In October 2021, General Electric Company presented innovative multi-modality radiation therapy solutions which are designed to improve patient-centered 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, 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 generates adequate revenue
- In May 2020, Elekta AB (PUB) announced that they have launched their new product Leksell Gamma Knife which is a next-generation treatment optimizer for intracranial stereotactic radiosurgery. After launching a new product company enhanced its product portfolio and generates adequate revenue
Regional Analysis
Geographically, the countries covered in the global radiotherapy market are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, Sweden, rest Of Europe, China, Japan, Australia, India, South Korea, New Zealand, Singapore, Thailand, Malaysia, Vietnam, Taiwan, Indonesia, Philippines, rest Of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Bahrain, Kuwait, Qatar, Oman, Morroco, and rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
North America is the dominant country in the global radiotherapy market during the forecast period 2023 - 2030. Moreover, North America is the fastest-growing region in the forecast period.
In 2023, North America is expected to dominate the global radiotherapy market owing to the higher level of investments by various manufacturers and increasing demand for radiotherapy in the country.
North America is estimated to be the fastest-growing country in the global radiotherapy market in the forecast period 2023 -2030. This is due to the growing adoption of advanced technology and the launch of new products in this region.
For more detailed information about the Global Radiotherapy Market report, click here – https://www.databridgemarketresearch.com/reports/global-radiotherapy-market
