Dublin, July 1, 2021 (GLOBE NEWSWIRE) — The “Global Radiation Therapy Market by Product (LINAC, CyberKnife, Gamma Knife, Tomotherapy, Particle Therapy, Cyclotron), Procedure (External (IMRT, IGRT, 3D-CRT) Internal (LDR), HDR)), Application (Prostate, Breast, Lung), End User (Hospitals) – Forecasts to 2026” report has been added to ResearchAndMarkets.com’s to offer.
The global radiotherapy market is valued at $5.9 billion in 2021 and is expected to reach $7.3 billion by 2026, growing at a CAGR of 4.2% over the forecast period.
The growth of this market is mainly driven by the increasing burden of target diseases and increasing investments, funds and subsidies for the development of new products.
Moreover, the increasing adoption of radiotherapy procedures for the treatment of cancer, the increasing use of particle therapy for the treatment of cancer, and the increasing number of conferences and symposia focusing on the advancement in radiotherapy are some of the other important factors driving the growth of this market.
However, the underdeveloped public health infrastructure in emerging countries, the shortage of trained and skilled radiation oncologists, and the limited access to and affordability of various radiotherapy treatment options are the main factors expected to inhibit the growth of this market over the forecast period.
The prostate cancer segment accounted for the largest share of the external and internal radiotherapy market in 2020 by application
Based on application, the radiotherapy market is divided into two main segments: external beam radiotherapy and internal beam radiotherapy/brachytherapy applications. Based on indication, the segment of external radiation applications is further subdivided into prostate cancer, breast cancer, lung cancer, colorectal cancer, head and neck cancer (laryngeal cancer, hypopharyngeal cancer, oropharyngeal cancer and oral cavity cancer) and other cancers (including pancreatic cancer, brain cancer and gastrointestinal cancer).
The prostate cancer segment accounted for a significant share of both the EBRT and brachytherapy markets due to the high and growing prevalence of prostate cancer and positive outcomes for the treatment of prostate cancer using radiotherapy.
The particle therapy product segment, to register significant growth rate in the external beam radiotherapy products, thanks to the launch of new products and approvals
On a product basis, the radiotherapy market is segmented into external radiotherapy products, internal radiotherapy/brachytherapy products and systemic radiotherapy products. The external beam radiotherapy products segment is further divided into linear accelerators, particle therapy systems and conventional cobalt-60 teletherapy units.
The internal beam radiotherapy/brachytherapy segment includes seeds, applicators, afterloaders and IORT systems, while the systemic radiotherapy segment is iobenguane (I-131), samarium-153, rhenium-186 and other radioisotopes (Yttrium-90, Radium- 223, Phosphorus-32 and Radiolabeled Antibodies, among others).
More installations and government initiatives to drive hospital end-user segment growth
On the basis of end-users, the radiotherapy market is segmented into hospitals and independent radiotherapy centers. The hospital segment accounted for the largest share of the radiotherapy market due to increasing global cancer prevalence, increasing installations of advanced radiotherapy equipment in both developed and developing regions, increasing government initiatives to equip (or upgrade) hospitals with newer and more advanced radiotherapy systems and the increasing availability of funding for the application of advanced cancer treatment technologies.
In 2021, Fudan University Children’s Hospital, Shanghai and Shanghai Fosun Healthcare (Group) Co., Ltd. (China) an agreement with Mevion Medical Systems to establish the first pediatric proton therapy center in China. Many more such recent developments will boost the end-user segment of hospitals.
The US market had the largest market share by region in 2020
Based on region, the radiotherapy market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America had the largest share of the global radiotherapy market in 2020. The large share of the North American market can be attributed to factors such as continued technological advancements, rising cancer incidence, improving reimbursement scenario and increasing focus of key players. to strengthen their presence in the region.
Main topics covered:
2 Research methodology
4 Premium Insights
4.1 Radiotherapy Market Overview
4.2 Europe: External Radiation Therapy Market, by Product and Region
4.3 North America: Internal Beam Radiotherapy Market, By Application, 2021 vs. 2026 (USD million)
4.4 Geographic snapshot of the radiotherapy market
5 Market overview
5.2 Market dynamics
188.8.131.52 Technological progress
184.108.40.206 Expansion of the target patient population
220.127.116.11 Increasing number of conferences and symposia aimed at spreading awareness about the benefits of radiotherapy
18.104.22.168 Increasing use of particle therapy for cancer treatment
5.2.2 Main Market Restrictions
22.214.171.124 Lack of adequate healthcare infrastructure
126.96.36.199 Shortage of trained oncologists/radiologists
188.8.131.52 Affordability and accessibility of treatment
184.108.40.206 Complex nature of radiotherapy
5.2.3 Key Market Opportunities
220.127.116.11 Rising health care spending in developing countries
18.104.22.168 Increasing public and private investment to meet increasing demand for cancer treatment
22.214.171.124 Difficulties in visualizing tumors during radiotherapy procedures
126.96.36.199 Risk of exposure to radiation
5.3 Porter’s Five Forces Analysis
5.4 Regulatory scenario
5.4.4 Emerging countries
5.5 Refund Scenario
5.6 Ecosystem Coverage
5.7 Value chain analysis
5.8 COVID-19 Impact on the radiotherapy market
5.9 Price analysis
5.10 Patent analysis
5.10.1 Patent data
6 Radiotherapy Market, by Product
7 Radiotherapy Market, by Application:
8 Radiotherapy market, by procedure
9 Radiotherapy market, by end user
10 Radiotherapy Market, by Regions
11 Competitive Landscape
12 company profiles
12.1 Key players
12.1.1 Varian Medical Systems, Inc.
12.1.2 Elekta AB
12.1.3 Accuray Incorporated
12.1.4 Becton, Dickinson and Company
12.1.5 IBA Worldwide
12.1.6 ViewRay, Inc.
12.1.7 IsoRay Medical
12.1.8 Hitachi Ltd.
12.1.9 Panacea Medical Technologies Pvt. Ltd.
12.1.10 Healthcare provision Voorzien
12.1.11 Mevion Medical Systems
12.1.12 Optivus Proton Therapy, Inc.
12.1.14 Sumitomo Heavy Industries Ltd.
12.1.15 Zeiss Group
12.2 Other players
12.2.1 IntraOp Medical, Inc.
12.2.2 iCAD, Inc.
12.2.3 Eckert & Ziegler
12.2.4 Sensus Healthcare
12.2.5 SIT Mute IORT Technologies SPA
13.1 Discussion Guide
13.2 Knowledge store: the subscription portal
13.3 Available customizations
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