NEW YORK, July 27, 2021 The global radiotherapy market size is expected to reach USD 11.08 Billion in 2028 and register a CAGR of 6.9% over the forecast period, according to the latest report by Reports and Data. Increasing adoption of technologically advanced radiotherapy treatment procedures and rising public and private investments to further R&D activities in the field of oncology are key factors expected to drive market revenue growth over the forecast period. In addition, increasing number of conferences, workshops, and symposia conducted by various academic and research institutes to learn about the future prospects of radiotherapy is expected to also drive revenue growth of the market.
Recent advances in radiation therapy have allowed transition from two-dimensional imaging to four-dimensional imaging for providing more precise and accurate targeted treatment to cancer patients. Rising adoption of 3-D conformal radiation therapy treatment procedure is increasing the effectiveness and decreasing the complication rate of radiation therapy by localizing and treating the tumor in a more precise manner. 3-D conformal radiation therapy technique allows oncologists to direct radiation beams conforming to the shape of the tumor, thereby precisely delivering radiation to targeted cells and reducing the adverse effects of radiation to normal surrounding tissues.
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Increasing focus towards ascertaining the efficacy of FLASH radiotherapy (FLAZH-RT) in cancer treatment is expected to boost revenue growth of the radiotherapy market going ahead. FLASH-RT entails treating tumors at ultra-high dose rate to potentially reduce the damage to normal tissue surrounding the tumor, while also equaling the anti-tumor effect associated with conventional dose rate radiotherapy. However, lack of skilled healthcare professionals for performing radiotherapy procedures effectively is expected to limit its adoption and restrain market growth to a certain extent over the forecast period.
Some Key Highlights From the Report:
- In May 2020, Hitachi Ltd. announced that it delivered its advanced proton therapy system to Clinica Universidad de Navarra hospital in Europe. The proton therapy system employs state-of-the-art technology along with spot canning technology, which sends a therapeutic proton beam precisely to the targeted tumor.
- Internal beam radiotherapy/brachytherapy segment is expected to register significantly steady revenue growth over the forecast period owing to increasing utilization of internal beam radiotherapy procedure for treatment of cervical, breast, prostate, gynecological, penile, and other types of cancers.
- Breast cancer segment is expected to account for significantly large revenue share in the global market owing to rising prevalence of breast cancer worldwide, and increasing use of radiotherapy treatment procedure to treat metastatic breast cancer and to prevent recurrence after surgery.
- Ambulatory and radiotherapy centers segment is expected to register robust revenue CAGR over the forecast period owing to increasing number of ambulatory and radiotherapy centers adopting advanced radiotherapy systems to provide effective and precise cancer care to patients.
- Asia Pacific market is expected to register robust revenue CAGR over the forecast period, attributable to increasing adoption of advanced radiotherapy devices due to ease of use, ability to deliver precise radiation dose to targeted tumors, and reduce number of radiotherapy procedures performed for cancer treatment in the afflicted region.
Major companies in the market include:
- GE Healthcare Inc.
- Siemens Healthineers AG
- Canon Medical Systems Corporation
- Isoray Medical, Inc.
- Varian Medical Systems Inc.
- C4 Imaging LLC
- Eckert & Zeigler AG
- Hitachi Ltd.
- Optivus Proton Therapy Inc.
- Mevion Medical Systems Inc.
For the purpose of this report, Reports and Data has segmented the global radiotherapy market on the basis of type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- External Beam Radiotherapy
- 3-D Conformal Radiation Therapy
- Intensity-Modulated Radiation Therapy (IMRT)
- Image-Guided Radiation Therapy (IGRT)
- Stereotactic Radiosurgery
- Internal Beam Radiotherapy/Brachytherapy
- Systematic Radiotherapy
Application Outlook (Revenue, USD Billion; 2018-2028)
- Breast Cancer
- Prostate Cancer
- Lung Cancer
- Colorectal Cancer
- Skin Cancer
- Cervical Cancer
End-Use Outlook (Revenue, USD Billion; 2018-2028)
- Ambulatory & Radiotherapy Centers
- Academic & Research Institutes
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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