Radiation Therapy Equipment Market by Type (External Beam Radiotherapy, Internal Beam Radiotherapy), Application (Cancer, Non-cancer), End-User - Global Forecast 2024-2030

Radiation Therapy Equipment Market by Type (External Beam Radiotherapy, Internal Beam Radiotherapy), Application (Cancer, Non-cancer), End-User - Global Forecast 2024-2030

The Radiation Therapy Equipment Market size was estimated at USD 7.76 billion in 2023 and expected to reach USD 8.28 billion in 2024, at a CAGR 7.11% to reach USD 12.55 billion by 2030.

Global Radiation Therapy Equipment Market

Radiation therapy equipment is a type of medical equipment used to treat cancer and other conditions with radiation. Radiation therapy has the ability to precisely target tumors while minimizing injury to nearby healthy tissue. Radiation therapy equipment is mostly of high power and has the ability to deliver different dose levels, allowing doctors to customize treatment plans for each patient. The prevalence of cancer and the increasing adoption of surgical procedures have been the major factors driving the need for advanced radiotherapy equipment. Governments have taken multiple initiatives to expand access to cancer treatment, and improved reimbursement coverage has enabled more patients to adopt the treatment. However, the stringent government regulations regarding the approval of equipment have been impeding their penetration in many economies. Market players are consistently working on enhancing the operational abilities of radiotherapy equipment with digital and automated advancements and are maintaining the utmost quality care to ensure fast product approval. Moreover, exponential private-public investments in cancer treatment R&D are expected to encourage the development of new treatment equipment.

Regional Insights

The Americas region observes an advanced market for radiation therapy equipment supported by the presence of established players offering highly automated equipment and developed cancer care infrastructure. The U.S. and Canada have expanded the provision of reimbursements for cancer care, which has enabled patients to access quality care with different equipment. The Asia-Pacific region observes a high prevalence of cancer cases, and medical institutes are constantly conducting R&D studies to develop improved therapies, which require new equipment. The European region has the presence of the most well-recognized players, with years of experience in offering radiotherapy equipment. Several government initiatives and awareness programs for cancer treatment have expanded the patient preference for surgeries in the early stages. The European Medical Agency and the U.S. Food and Drug Administration provide strict guidelines regarding the approval and marketing of radiotherapy equipment. However, in recent years, players have been able to achieve commercialization authorization in these countries for products that can be essential in cancer treatment.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Radiation Therapy Equipment Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Radiation Therapy Equipment Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Radiation Therapy Equipment Market, highlighting leading vendors and their innovative profiles. These include Accuray Incorporated, Allengers Medical Systems Ltd, BEBIG Medical GmbH, Bionix LLC, BrainLab AG, Canon Inc., Carl Zeiss AG, Eckert and Ziegler AG, Elekta AB, GE HealthCare Technologies Inc., Hitachi, Ltd., IntraOp Medical Corp., Ion Beam Applications S.A., Klarity Medical & Equipment (GZ) Co., Ltd., LINEV Group, Mevion Medical Systems, Inc., MinXray, Inc., Mitsubishi Heavy Industries, Ltd., Nordion by Sotera Health LLC, Oraya Therapeutics Inc., PTW Freiburg GmbH, RefleXion Medical, Inc., Royal Philips, Siemens Healthineers AG, Stryker Corporation, Sumitomo Heavy Industries, Ltd., and Xstrahl Group.

Market Segmentation & Coverage

This research report categorizes the Radiation Therapy Equipment Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
External Beam Radiotherapy
Conventional Cobalt-60 Teletherapy Units
Linear Accelerators
Particle Therapy Systems
Internal Beam Radiotherapy
Afterloaders
Applicators
IORT Systems
Seeds
Application
Cancer
Blood Cancer
Breast Cancer
Gastrointestinal Cancer
Prostate Cancer
Respiratory & Lung Cancer
Skin Cancer
Non-cancer
End-User
Hospitals
Specialty Clinics
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Radiation Therapy Equipment Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Radiation Therapy Equipment Market?
3. What are the technology trends and regulatory frameworks in the Radiation Therapy Equipment Market?
4. What is the market share of the leading vendors in the Radiation Therapy Equipment Market?
5. Which modes and strategic moves are suitable for entering the Radiation Therapy Equipment Market?

Note: PDF & Excel + Online Access - 1 Year