Rising Number of Cancer-Related Deaths and the Need for Efficient Treatment Options to Tackle the Swelling Fatality Rate will Aid in Boosting the Growth of the Radiation Therapy Market, Says TMR

ALBANY, N.Y., June 2, 2021 /PRNewswire/ -- Cancer problems have reached their zenith and are reporting an expansion in cases. According to the World Health Organization (WHO), cancer is the second leading cause of death in the world. The American Institute of Cancer Research also estimates that approximately 25 mn cancer cases will be diagnosed each year by 2030. These alarming statistics highlight the rising need for finding treatments that can cure cancer effectively.

Among many therapies used for treating cancer, radiation therapy holds a prominent place. Thus, based on all these aspects the radiation therapy market is expected to observe tremendous growth opportunities across the forecast period of 2018-2026.

Radiation therapy, also known as radiotherapy is a type of cancer treatment that uses high-level radiation doses to eliminate cancer and shrink tumors. These therapies commonly use X-rays but protons or other energy types can also be used. The therapy either kills or slows down the cancer growth by damaging their DNA. Although cancer cells are not killed immediately by radiation therapy, it is an effective option for bringing down the effect of cancer. The potential of radiation therapy in treating cancer brings great growth prospects.

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The Transparency Market Research (TMR) experts have analyzed every aspect of the radiation therapy market in great detail. After thorough and detailed research, the TMR experts predict the radiation therapy market to expand at a CAGR of 5.2 percent during the forecast period of 2018-2026. The global radiation therapy market was valued at US$ 5445.3 mn in 2017 and is expected to reach US$ 8609.7 mn by 2026, the end year of the forecast period.

Rising cancer cases and escalating technological developments have a large hand in the growth of the radiation therapy market. The increasing awareness about the importance of radiation therapy in treating varied cancer types will also prove to be a game-changer. Expanding investments by the government and non-government bodies in the radiation therapy sector will serve as a prominent growth booster.

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Key Findings of the Report

Fewer Side Effects than Other Treatment Types will Accelerate the Growth Opportunities

Radiation therapy involves imparting high radiation beams directly into a tumor. This therapy type targets only a specific part of the body unlike chemotherapy, whose drugs circulate in the bloodstream. Though chemotherapy and radiation therapy both attack cancer cells, radiation therapy attacks only a targeted part of the body which reduces the side effects. All these factors bode well for the growth of the radiation therapy market.

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Utilization in Treating COVID-19 to Propel Growth

The COVID-19 pandemic has wreaked havoc across the globe with high transmission and overwhelming fatality rates. Pneumonia is the prominent reason for severe COVID-19. Researchers have found a way to treat COVID-19 pneumonia with low doses of radiotherapy called the ULTRA-COVID. A new study published in the Strahlentherapie und Onkologie journal explains the advantages of treating COVID-19 pneumonia with ULTRA-COVID.

The pandemic has led to the loss of numerous lives. The research, if successful can save many lives and can serve as a robust pillar of growth for the radiation therapy market during the assessment period of 2018-2026.

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Radiation Therapy Market: Major Players

Some well-established players in the radiation therapy market are:

• IBA Radiopharma Solutions
• Panacea Medical Technologies Pvt. Ltd.
• Mevion Medical Systems
• Varian Medical Systems
• Hitachi, Ltd.
• Ion beam Applications

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