Global Radiotherapy Market, By Type (Product, Service), Technology (External-Beam Radiation Therapy, Internal Radiation Therapy, Systemic Radiotherapy/ Radiopharmaceuticals, Others), Application (External Beam Radiotherapy, Internal Beam Radiotherapy), Procedure (External Beam Radiotherapy, Internal Beam Radiotherapy/Brachytherapy, Systemic, Oral, Intravenous, Instillation Radiotherapy), End User (Hospitals, Radiation Therapy Centers, Specialty Clinics, Others), Distribution Channel (Direct Tender, Retail Sales, Others) – Industry Trends and Forecast to 2030.
Radiotherapy Market Analysis and Size
Radiotherapy demand has increased in the previous years with the growing demand for radiotherapy combined with the increasing incidence of cancer around the world. According to the American Cancer Society's 2022 report, breast cancer is the most frequently occurring condition resulting in around 3.0 lakh and 51,400 new cases in the U.S. of invasive and non-invasive breast tumors, respectively. Furthermore, the increased R&D is expected to boost the demand for radiotherapy over the forecast period.
Data Bridge Market Research analyses that the radiotherapy market, which was USD 8,057.3 million in 2022, would rise to USD 13,740.88 million by 2030 and is expected to undergo a CAGR of 6.9% during the forecast period from 2023 to 2030. 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.
Radiotherapy Market Scope and 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 to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Product, Service), Technology (External-Beam Radiation Therapy, Internal Radiation Therapy, Systemic Radiotherapy/ Radiopharmaceuticals, Others), Application (External Beam Radiotherapy, Internal Beam Radiotherapy), Procedure (External Beam Radiotherapy, Internal Beam Radiotherapy/Brachytherapy, Systemic, Oral, Intravenous, Instillation Radiotherapy), End User (Hospitals, Radiation Therapy Centers, Specialty Clinics, Others), Distribution Channel (Direct Tender, Retail Sales, Others)
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Countries Covered
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U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Varian Medical Systems, Inc. (U.S.), Mevion Medical Systems (U.S.), ViewRay Technologies, Inc. ("ViewRay") (U.S.), Siemens Healthcare GmbH (Germany), Accuray Incorporated (U.S.), IBA Worldwide (Belgium), Eckert & Ziegler (Germany), Koninklijke Philips N.V. (Netherlands), General Electric (U.S.), Hitachi, Ltd. (Japan), Advanced Accelerator Applications (France), CIVCO Medical Solutions (U.S.), Isoray Inc, (U.S.)
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Market Opportunities
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Market Definition
Radiotherapy treatment is primarily used for treating cancer disease with the wide use of X-rays and similar forms of radiation technology. In this treatment, high-energy-based radiation rays are widely used to damage cells causing cancer and limit them from growing and dividing. Radiotherapy treatment has several advantages intending to accurately and directly locate cancer wherever in the body. Numerous radiotherapy devices were upgraded from 2D to 3D, enabling high-quality radiation conformity with real-time imaging of a target tumor.
Global Radiotherapy Market Dynamics
Drivers
- Increasing Demand for External-Beam Radiation Therapy
External-beam radiation therapy is in huge demand due to the increasing adoption in the treatment of lung, prostate, breast, colorectal, liver, thyroid, lymphoma, brain, and spine cancer, among others. External-beam radiation therapy is one of the most favored radiation therapy types widely used for cancer treatment. It captures the high-energy rays from outside the body into the tumor. Thus, this factor boosts market growth.
- Increasing Strategic Acquisitions and Developments
There have been increasing strategic acquisitions by market players that have led to the market's growth. For instance, Siemens Healthineers AG announced the acquisition of Varian Medical Systems, Inc in 2021. Through this initiative, Siemens Healthineers AG would get the provision of Varian's robust product portfolio that involves ProBeam 360, Clinac iX System, Trilogy System, ProBeam Multi-Room Proton therapy solution, and ARIA OIS product portfolio of laboratory imaging, diagnostics, assuring increasing revenue in the upcoming years, and improving patient care. Thus, this factor boosts market growth.
Opportunities
- Increasing Launch of Novel Linear Accelerators
The wide introduction of novel linear accelerators leads to increased market growth. For instance, Elekta AB announced the launch of the Elekta Harmony linear accelerator in 2020, the productive Linac used for treating cancer by radiotherapy. Launching several such new products may lead to market growth by addressing unmet medical needs. Thus, this factor boosts market growth.
- Appropriate Reimbursement Policies by Organizations
The availability of reimbursement policies leads to increased market opportunities. Several reimbursement policies for the products associated with brachytherapy decreased the treatment cost, thus encouraging patients to avail of treatment. For instance, Isoray announced the approval of billing codes for reimbursement of Cesium-131 for the hospital in a DRG set in 2020. Thus, this factor boosts the market's growth rapidly.
Restraints/Challenges
- Lack of Skilled Oncologists and Technicians
The use of advanced radiotherapy is anticipated to hamper market growth due to a lack of skilled professionals and lack of technical expertise. There was a huge shortage of oncologists in the U.S., and ASCO estimates a shortage of more than 2200 oncologists by 2025. Therefore, these factors hamper the market growth.
This radiotherapy market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the radiotherapy market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In 2020, Elekta AB launched a new product called Leksell Gamma Knife, a next-generation treatment optimizer used for intracranial stereotactic radiosurgery. With this launch, the company improved its product portfolio and produced adequate revenue
- In 2019, Siemens Healthcare GmbH launched two dedicated CT systems, Somatom go. Sim and Somatom go. Open Pro for radiation therapy planning. The new system makes radiotherapy planning more precise. By launching new products, the company has improved its product portfolio and led to adequate revenue in the market
Global Radiotherapy Market Scope
The radiotherapy market is segmented on the basis of type, technology, application, procedure, end user, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Product
- Service
Technology
- External-Beam Radiation Therapy
- Linear Accelerators
- Conventional Advanced Electron
- Stereotactic Advanced Electron/Cobalt-60 Linear Accelerators
- Gamma Knife
- Cyberknife
- TomoTherapy
- Conventiional Cobalt-60 Teletherapy Units
- Particle Therapy Systems
- Cyclotrons
- Synchotrons
- Synchrocyclotron
- Internal Radiation Therapy
- Seeds
- Afterloaders
- Applicators
- IORT Systems
- Systemic Radiotherapy/ Radiopharmaceuticals
- Iobenguane
- Samarium-153
- Rhenium-186
- Others
- Others
Application
- External Beam Radiotherapy
- Prostate Cancer
- Breast Cancer
- Kung Cancer
- Colorectal Cancer
- Other
- Internal Beam Radiotherapy
- Prostate Cancer
- Breast Cancer
- Cervical Cancer
- Penile Cancer
Procedure
- External Beam
- Image-guided
- Intensity-modulated
- Stereotactic
- Particle
- 3D Conformal
- Internal Beam
- High-dose-rate brachytherapy
- Low-dose-rate brachytherapy
- Pulsed-dose-rate brachytherapy
- Systemic
- Oral
- Intravenous
- Instillation
Application
- Breast Cancer
- Lung Cancer
- Prostate Cancer
- Colorectal Cancer
- Lymphoma
- Liver Cancer
- Thyroid Cancer
- Brain Cancer
- Cervical Cancer
- Spine Cancer
- Others
End User
- Hospitals
- Radiation Therapy Centers
- Specialty Clinics
- Others
Distribution Channel
- Direct Tender
- Retail Sales
- Others
Radiotherapy Market Regional Analysis/Insights
The radiotherapy market is analyzed and market size insights and trends are provided by type, technology, application, procedure, end user, and distribution channel as referenced above.
The countries covered in the radiotherapy market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the radiotherapy market as the rate of radiotherapies has increased in the last few years because of the growing high adoption of radiotherapy for treating cancer diseases and the rising incidence of cancer in the region. Also, the U.S is anticipated to dominate the radiotherapy market due to a consistent increase in the number of cancer patients in the U.S.
Asia-Pacific is expected to witness significant growth due to the rapidly growing diagnosis rate with increasing government initiatives for awareness of the importance of diagnosis. Also, the developed medical infrastructure availability and many market players lead the market growth.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The radiotherapy market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for radiotherapy market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the radiotherapy market. The data is available for historic period 2011-2021.
Competitive Landscape and Radiotherapy Market Share Analysis
The radiotherapy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to radiotherapy market.
Some of the major players operating in the radiotherapy market are:
- Varian Medical Systems, Inc. (U.S.)
- Mevion Medical Systems (U.S.)
- ViewRay Technologies, Inc. ("ViewRay") (U.S.)
- Siemens Healthcare GmbH (Germany)
- Accuray Incorporated (U.S.)
- IBA Worldwide (Belgium)
- Eckert & Ziegler (Germany)
- Koninklijke Philips N.V. (Netherlands)
- General Electric (U.S.)
- Hitachi, Ltd. (Japan)
- Advanced Accelerator Applications (France)
- CIVCO Medical Solutions (U.S.)
- Isoray Inc. (U.S.)
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