Radiotherapy Market to surpass beyond US$ 9.5 Billion by 2025

Published On : Feb 20, 2018

The Global Radiotherapy Market, by Product Type (External Beam Radiation, Internal Beam Radiation, and Systemic Radiation), by Therapy Type (External Beam Radiation Therapy, Internal Beam Radiation Therapy, and Systemic Radiation Therapy), by Application (Prostate Cancer, Breast Cancer, Lung Cancer, Colorectal Cancer, Cervical Cancer, and Others), by End User (Hospitals, Oncology Clinics, and Ambulatory Radiotherapy Centers), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 5,253.7 million in 2016 and is projected to exhibit a CAGR of 6.8% over the forecast period (2017 – 2025), as highlighted in a new report published by Coherent Market Insights. The radiotherapy market is expected to gain significant traction, owing to radiotherapy being a highly effective and affordable therapy for cancer treatment.

Recent advancements in radiotherapy techniques to enhance the accuracy of treatment with the approval from regulatory agencies is a major factor augmenting growth of the radiotherapy devices. For instance, in 2017, Hitachi Ltd. received U.S. FDA clearance for the launch and commercialization of Real Time Image Gating System for Proton Beam Therapy Systems (RGPT), enabling patients the access to advanced spot scanning irradiation technology. The system was developed with collaborative efforts of Hokkaido University Hospital and the Clinical Research and Medical Innovation Center.

Moreover, increasing number of research groups are collaborating to explore targeted systemic therapies for the advancement of radiotherapy technology, creating potential impact on the market growth. For instance, the National Collaborative Research Infrastructure Strategy (NCRI) launched the Clinical and Translational Radiotherapy Research Working Group (CTRad), to work towards the national radiotherapy research agenda by developing high-quality radiotherapies, thereby optimizing tumor control and minimizing toxicity for patients receiving radiotherapy.

Browse 38 Market Data Tables and 26 Figures spread through 205 Pages and in-depth TOC on “Radiotherapy Market”- Global Forecast to 2025, by Product Type (External Beam Radiation, Internal Beam Radiation and Systemic Radiation), by Therapy Type (External Beam Radiation Therapy, Internal Beam Radiation Therapy and Systemic Radiation Therapy), by Application (Prostate Cancer, Breast Cancer, Lung Cancer, Colorectal Cancer, Cervical Cancer and Others), by End User (Hospitals, Oncology Clinics, and Ambulatory Radiotherapy Centers) and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa)

To know the latest trends and insights prevalent in the radiotherapy market, click the link below:

https://www.coherentmarketinsights.com/market-insight/radiotherapy-market-1320

Key players are adopting strategic collaborations and acquisitions for the development of radiotherapy techniques to accelerate innovation and to expand their geographical presence, thereby augmenting market growth. For instance, in 2017, Ion Beam Applications collaborated with Royal Philips to offer unique integrated solutions for proton therapy and molecular imaging centers, with an objective to enable effective and personalized cancer care. The companies collaborated to deliver proton therapy systems such as Proteus ONE and Proteus PLUS and clinical informatics solution such as Philips Big Bore CT, PET CT systems and Pinnacle3 Treatment Planning System in the UK, Middle East, and India.

Moreover, key players are launching high-quality tools for accurate and efficient radiotherapy treatment, thereby introducing novel solutions to enhance oncology radiotherapy. For instance, in 2017, Toshiba Medical introduced Galan RT Solutions suite of radiation therapy tools, which include the advanced Universal Couchtop MR Overlay from Civco Radiotherapy to help improve patient safety by sparing healthy tissue from unnecessary radiation. Galan RT Solutions allow health care providers to precisely map MR data to PET/CT images to develop radiation therapy plans, thus prioritizing patient care.

Key Takeaways of the Radiotherapy Market:

  • The global radiotherapy market is expected to exhibit a CAGR of 6.8% over the forecast period, owing to the rising recommendations by oncologists as radiotherapy has higher potential to eliminate cancer as well as increasing prevalence of cancer in Europe, Asia Pacific, and Latin America
  • Among product types, the external beam radiation segment holds a dominant position in the radiotherapy market, owing to the rising adoption of linear accelerators, product enhancements, and increasing adoption of external beam radiotherapy devices in emerging economies such as India, Brazil, and China
  • Among applications, the lung segment holds a dominant position in the radiotherapy market, owing to the larger number of patient pool diagnosed with the condition and the increasing availability of innovative external and internal beam radiotherapies to treat the condition
  • Among end users, the hospitals segment holds a dominant position, owing to the higher adoption and availability of the advanced radiotherapy systems offering enhanced care
  • Some of the major players operating in the global radiotherapy market are Accuray Incorporated, Varian Medical Systems, Inc., Elekta AB, Ion Beam Applications S.A., C.R. Bard, Inc., Isoray Medical, Inc., CIVCO Radiotherapy, Hitachi Ltd., Mevion Medical Systems, Inc., and ProTom International, Inc.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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