Radiotherapy Market

The global radiotherapy market is estimated to be valued at USD 7.97 Bn in 2024 and is expected to exhibit a CAGR of 7.1% during the forecast period (2024-2031). The global radiotherapy market has been witnessing steady growth over the past few years owing to the increasing prevalence of cancer worldwide and rising adoption of radiotherapy procedures. Radiotherapy uses high-energy radiation to treat cancer and employs procedures like external beam radiation therapy, internal radiation therapy, and systemic radiotherapy. It is often used in combination with other treatments and helps destroy cancer cells and shrink tumors. The growing geriatric population which is more prone to developing cancer, increasing awareness about early cancer detection, and technological advancements in radiotherapy equipment are some of the key factors expected to drive the demand for radiotherapy in the coming years. However, factors like the high cost of radiotherapy procedures and equipment may restrain the market growth to a certain extent.

Market Dynamics:

The global radiotherapy market is expected to experience significant growth over the forecast period driven by factors such as the growing global cancer burden, rising healthcare expenditures in developing countries, and technological innovations introduced by the key players. Cancer accounts for an enormous disease burden worldwide and its incidence is rising rapidly. According to World Health Organization, cancer cases are estimated to surge by over 70% in the next two decades. This increasing prevalence of cancer presents a massive patient pool requiring radiotherapy treatment, thereby driving the market growth. However, the market faces certain challenges due to the high costs associated with radiotherapy equipment, procedures, and maintenance which may hinder widespread adoption, especially in price-sensitive developing regions. The introduction of advanced treatment delivery techniques like intensity modulated radiation therapy (IMRT) and Image-guided radiation therapy (IGRT) as well as newer platforms such as particle therapy offers lucrative opportunities for market expansion.

Key Features of the Study:

• This report provides an in-depth analysis of the global radiotherapy market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global radiotherapy market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this includes Accuray Incorporated, Elekta, Isoray Inc., CIVCO, Hitachi, Ltd., Mevion Medical Systems, ProTom International, VIEWRAY TECHNOLOGIES, INC., Panacea Medical Technologies Pvt. Ltd., Optivus Proton Therapy, Inc., RefleXion, MacroMedics, Vision RT Ltd., and Qfix.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global radiotherapy market caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global radiotherapy market.

Detailed Segmentation-

• By Product Type:
  • External Beam Radiation
    • Compact Advanced Radiotherapy Systems
    • Proton Therapy Systems
    • High Energy Linear Accelerators (LINAC)
  • Internal Beam Radiation 
  • Systemic Radiation 
• By Therapy Type:
  • External Beam Radiation Therapy
  • Internal Beam Radiation Therapy
  • Systemic Radiation Therapy
• By Application:
  • Prostate Cancer
  • Breast Cancer
  • Lung Cancer
  • Colorectal Cancer
  • Cervical Cancer
  • Others
• By End User:
  • Hospitals
  • Oncology Clinics
  • Ambulatory Radiotherapy Centers
• By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa

Company Profiles:

• Accuray Incorporated
• Elekta  
• Isoray Inc.
• CIVCO
• Hitachi, Ltd. 
• Mevion Medical Systems  
• ProTom International
• VIEWRAY TECHNOLOGIES, INC.
• Panacea Medical Technologies Pvt. Ltd.
• Optivus Proton Therapy, Inc.
• RefleXion
• MacroMedics
• Vision RT Ltd. 
• Qfix