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  • Published On : Jul 2022
  • Code : CMI1320
  • Industry : Medical Devices
  • Pages : 205
  • Formats :

Radiotherapy, also known as radiation therapy, uses ionizing radiations that deliver targeted beams of radiation to kill and destroy cancer cells. The advanced technology used in radiotherapy works by bombarding cancerous cells with radiation to kill them, while minimizing damage to the healthy cells around them. Radiotherapy is the most potent and cost-effective treatment for cancer, and when integrated with advanced technologies such as image guided therapy, it leads to enhanced control over tumor and toxicity.

Global radiotherapy market is estimated to be valued at US$ 7,078.91 million in 2022 and is expected to exhibit a CAGR of 6.8% during the forecast period (2022-2030).

Figure 1.Global Radiotherapy Market Share (%), by Product Type, 2022

Radiotherapy  | Coherent Market Insights

Increasing prevalence of cancer is expected to drive growth of the radiotherapy market.

Rising prevalence of oncology diseases such as prostate cancer, lung cancer, and breast cancer, globally is increasing demand for timely management to reduce mortality associated with such conditions. This in turn, is a major factor augmenting growth of the radiotherapy market. For instance, according to data provided by Breastcancer.org, in March 2022, an estimated 287,850 new cases of invasive breast cancer are expected to be diagnosed in women in the U.S., along with 51,400 new cases of non-invasive (in situ) breast cancer in 2022.

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Radiotherapy Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2022: US$ 7,078.91 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 6.8% 2030 Value Projection: US$ 11,949.92 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product Type: External Beam Radiation ( Compact Advanced Radiotherapy Systems (Cyber Knife, Gamma Knife, Others), Proton Therapy Systems (Synchrotron, Cyclotron), High Energy Linear Accelerators (LINAC)), Internal Beam Radiation (Applicators, Afterloader, Seeds ), Systemic Radiation
  • By Therapy Type: External Beam Radiation Therapy (Stereotactic Radiosurgery (SRS), Stereotactic Body Radiation Therapy (SBRT), Intensity-modulated Radiation,  Therapy (IMRT), Proton Therapy, Image-guided Radiotherapy (IGRT), Volumetric Modulated Arc Therapy (VMAT), Others), Internal Beam Radiation Therapy ( Low-dose, Rate Brachytherapy (LDR), High-dose Rate Brachytherapy (HDR), Image-guided Brachytherapy (IGBT), Pulse Dose Rate Brachytherapy (PDR)), 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
Companies covered:

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

Growth Drivers:
  • Increasing prevalence of cancer
  • Higher efficacy of radiotherapy equipment with enhanced clinical outcomes
Restraints & Challenges:
  • High cost of radiotherapy devices

Figure 2.Global Radiotherapy Market Share (%), by Region, 2022

Radiotherapy  | Coherent Market Insights

Higher efficacy of radiotherapy equipment with enhanced clinical outcomes are expected to drive market growth during the forecast period.

The high-energy radiation used during radiotherapy permanently damages the DNA of cancer cells, causing them to die. According to the data provided by Mayo Foundation for Medical Education and Research (MFMER), in July 2020, almost half of all people with cancer have radiotherapy as part of their treatment plan. Moreover, according to the data published by NHS inform, in November 2021, 4 out of every 10 cancer cures include radiotherapy as part of the treatment plan

Global Radiotherapy Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

However, the COVID-19 pandemic had a negative impact on the global radiotherapy market, owing to decreased rates of radiotherapies during the pandemic as a result of lockdown. For instance, according to an article published by the Lancet Journal, in March 2021, a population-based study was carried out in England, U.K., to analyze the impact of cancer on radiotherapies done. In this population-based study, data relating to all radiotherapy delivered for cancer between Feb 4, 2019, and June 28, 2020, were extracted from the National Radiotherapy Dataset in England. According to the results, in 2020, mean weekly radiotherapy courses fell by 19·9% in April, 6·2% in May, and 11·6% in June compared with corresponding months in 2019.

Global Radiotherapy Market: Key Developments

In February 2022, the Department of Radiation Oncology at Max Institute of Cancer Care (MICC), Saket, India, launched the Radixact X9 Tomotherapy, which is combined with the 2nd generation synchronization respiratory motion management system. This radiation therapy treatment for cancer patients employs Artificial Intelligence (AI)-based real-time tracking and treatment delivery to ensure that the tumor is not missed due to chest or abdominal breathing movement during radiation.

In April 2022, Elekta, an innovator of precision radiation therapy solutions, and GE Healthcare, a manufacturer and distributor of diagnostic imaging agents and radiopharmaceuticals for imaging modalities used in medical imaging procedures, entered into a global commercial collaboration agreement in the field of radiation oncology, enabling them to provide hospitals a comprehensive offering across imaging and treatment for cancer patients requiring radiation therapy.

Global Radiotherapy Market: Restraint

The major factor that hinders growth of the global radiotherapy market is high cost of the radiotherapy devices. For instance, linear accelerator (linac) such as Varian 600CD/6EX, Elekta Precise, and others are priced at a cost ranging from US$ 175, 000 to US$ 300, 000

Key Players

Major players operating in the global radiotherapy market include 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.

Radiotherapy uses high-energy radiation beams such as gamma rays, x-rays, and protons to kill cancerous cells by inhibiting its growth and multiplication. Radiosurgery is often used before surgery to reduce the size of a tumor prior to removal, or after surgery to destroy the cancerous cells left behind. Various types of radiation therapies such as conformal radiotherapy (CRT), intensity modulated radiotherapy (IMRT), image guided radiotherapy (IGRT), and 4-dimensional radiotherapy are widely used to treat cancer. Internal radiotherapy is given using radioactive material placed inside the body, while external beam radiotherapy delivers x-rays from outside the body, using linear accelerators and other systems. The innovative image-guided radiotherapy is used to integrate better imaging techniques for visualizing cancer tumor. External beam radiation therapy is used to treat various types of cancers, including brain tumors, bladder cancer, and bone cancers. Brachytherapy is often used to treat cancers of the head and neck, breast, cervix, prostate, and eye, while systemic radiation therapy is often used to treat certain types of thyroid cancers using radioactive iodine.

Market Dynamics

Major factors driving growth of the radiotherapy market include rising prevalence of cancer, increasing adoption of innovative targeted therapies such as radiotherapy due to side effects associated with traditional chemotherapies such as anemia and infection. For instance, according to the data provided by the World Health Organization in February 2022, cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or nearly one in six deaths. This in turn, is expected to increase demand for radiotherapy over the forecast period. Nevertheless, the opportunities for key players to provide radiotherapy products in emerging markets with increasing demand for efficacious cancer treatment are anticipated to provide better prospects for market growth over the forecast period

Key features of the study:

  • This report provides in-depth analysis of the global radiotherapy market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue 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 approval, 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 study include 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 report 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:

  • Global Radiotherapy Market, By Product Type:
    • External Beam Radiation
      • Compact Advanced Radiotherapy Systems
        • Cyber Knife
        • Gamma Knife
        • Others
      • Proton Therapy Systems
        • Synchrotron
        • Cyclotron
      • High Energy Linear Accelerators (LINAC)
    • Internal Beam Radiation  
      • Applicators
      • Afterloader
      • Seeds
    • Systemic Radiation
  • Global Radiotherapy Market, By Therapy Type:
    • External Beam Radiation Therapy
      • Stereotactic Radiosurgery (SRS)
      • Stereotactic Body Radiation Therapy (SBRT)
      • Intensity-modulated Radiation Therapy (IMRT)
      • Proton Therapy
      • Image-guided Radiotherapy (IGRT)
      • Volumetric Modulated Arc Therapy (VMAT)
      • Others
    • Internal Beam Radiation Therapy
      • Low-dose Rate Brachytherapy (LDR)
      • High-dose Rate Brachytherapy (HDR)
      • Image-guided Brachytherapy (IGBT)
      • Pulse Dose Rate Brachytherapy (PDR)
    • Systemic Radiation Therapy
  • Global Radiotherapy Market, By Application:
    • Prostate Cancer
    • Breast Cancer
    • Lung Cancer
    • Colorectal Cancer
    • Cervical Cancer
    • Others
  • Global Radiotherapy Market, By End User:
    • Hospitals
    • Oncology Clinics
    • Ambulatory Radiotherapy Centers
  • Global Radiotherapy Market, By Region:
    • North America
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East 
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Region/Country
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Accuray Incorporated
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • 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

 “*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The global radiotherapy market size is estimated to be valued at US$ 7,078.91 million in 2022 and is expected to exhibit a CAGR of 6.8% between 2022 and 2030.
Factors such as increasing prevalence of cancer and higher efficacy of radiotherapy equipment with enhanced clinical outcomes are expected to drive the market growth.
External Beam Radiation is the leading product type segment in the market.
The major factor hampering growth of the market is high cost of the radiotherapy devices.
Major players operating in the market include 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.

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