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.

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.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Radiation Therapy Equipment Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Prevalence of cancer and increasing adoption of surgical procedures
Government initiatives expanding the awareness and accessibility to cancer treatment
Increasing availability of reimbursement coverage for cancer treatment

Market Restraints

Shortage of trained oncology professionals to operate complex equipment

Market Opportunities

Technological advancements in radiation therapy equipment
Emerging public-private investments for new cancer treatment R&D

Market Challenges

Stringent equipment approval and authorization procedure

Market Segmentation Analysis

Type: Ongoing advancements in particle therapy systems to deliver more precise radiation therapy
Application: Increasing prevalence of breast cancer drives the deployment of radiation therapy equipment
End-User: Hospitals prioritize versatile and high-throughput systems due to their large patient base

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Radiation Therapy Equipment Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment 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, namely 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 assessment of the current state of vendors in the Radiation Therapy Equipment Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. 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 these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

BEBIG Medical Join Forces to Pioneer Cancer Care Advancements in Uzbekistan

BEBIG Medical, a company in the production of superior radiation therapy solutions, has announced its achievement in securing contracts for the supply of five HDR (High Dose Rate) brachytherapy units destined for hospitals throughout Uzbekistan, facilitated by the United Nations Office for Project Services (UNOPS). This initiative comes at a critical time for Uzbekistan, a nation with a burgeoning population of over 36 million, currently facing a rapid escalation in incidence and mortality rates of cancer, which represented 15.4% of premature deaths from non-communicable diseases (NCDs).

BEBIG Medical wins Multiple Contracts for HDR Brachytherapy Equipment in Indonesia

BEBIG Medical, a provider of advanced radiation therapy products, has announced its successful acquisition of contracts to supply 6 HDR (High Dose Rate) brachytherapy units to Indonesian hospitals following a winning bid in the Ministry of Health (MOH) tender. This achievement reinforces BEBIG Medical's commitment to introducing state-of-the-art medical technology to aid cancer treatment within Indonesia, a nation with a burgeoning healthcare sector fueled by a population exceeding 270 million, increasing healthcare investments, and a rising middle-class demographic.

IBA and PARTICLE Initiate FLASH Proton Therapy Research Partnership

Ion Beam Applications (IBA), a particle accelerator technology and proton therapy solutions provider, is advancing cancer treatment through a research partnership established with PARTICLE (Particle Therapy Interuniversity Center Leuven). IBA is set to equip PARTICLE's clinical Proteus ONE system with FLASH capability, empowering a vanguard of preclinical research into FLASH therapy's potential to minimize harm to healthy tissues while maintaining efficacious tumor targeting. This collaboration aims to improve radiotherapy for patients worldwide further.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Radiation Therapy Equipment Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

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

Please Note: PDF & Excel + Online Access - 1 Year