NEW YORK, May 3, 2016 /PRNewswire/ -- The global radiotherapy market is expected to reach USD 7,544.8 million by 2020 from USD 5,585.0 million in 2015, at a CAGR of 6.2% between 2015 and 2020. North America is expected to hold the largest share of the global radiotherapy market in 2015. By product, application, and technology, the radiotherapy market is broadly segmented into external beam radiotherapy, internal radiotherapy/brachytherapy, and systemic radiation therapy. The external beam radiotherapy segment accounts for the largest share of the radiotherapy market in 2015, and is expected to grow at the highest rate.
Geographically, the report covers four major geographies, namely, North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to command the largest share of the global radiotherapy market in 2015, followed by Europe. Asia-Pacific radiotherapy market is poised to witness highest growth rate during the forecast period from 2015 to 2020 due to a number of factors including improving healthcare infrastructure and supportive government activities.
Market growth is majorly driven by the technological advancements in radiotherapy products, rise in number of geriatric population, increasing incidence of cancer cases across the globe, increasing symposiums driving investments in radiotherapy, and growing adoption of radiotherapy devices and procedures.
As of 2014, the global radiotherapy market was dominated by Varian Medical Systems, Inc. (U.S.), Elekta AB (Sweden), and Accuray Incorporated (U.S.), which together held a share of 84.5% of the overall radiotherapy market. New product launches & product enhancements; agreements, collaborations, partnerships, and contracts; geographic expansions; strategic acquisitions; and others (awareness campaigns and offering research fund & grants) are the major strategies adopted by most market players to achieve growth in the global radiotherapy market.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis —market share analysis of top players, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the radiotherapy market, high-growth regions and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering a greater market share. Firms purchasing the report could use any one or combination of the below mentioned five strategies (market penetration, product development/innovation, market development, and competitive assessment) for strengthening their market share.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on radiotherapy products offered by the top 10 players in the radiotherapy devices market. The report analyzes the radiotherapy market by product, application, and technology
- Product Development/Innovation: Detailed insights on current and upcoming technologies, research and development activities, product enhancements, and new product launches in the radiotherapy market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various radiotherapy devices across four geographies
- Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of leading players in the radiotherapy market
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