Radiotherapy Market by Product (Hardware, Software & Service), Type (External Beam Radiotherapy/Teletherapy, Internal Beam Radiotherapy/Brachytherapy, Systemic Radiotherapy), Procedure, Application, End-User - Global Forecast 2024-2030

Radiotherapy Market by Product (Hardware, Software & Service), Type (External Beam Radiotherapy/Teletherapy, Internal Beam Radiotherapy/Brachytherapy, Systemic Radiotherapy), Procedure, Application, End-User - Global Forecast 2024-2030

The Radiotherapy Market size was estimated at USD 6.64 billion in 2023 and expected to reach USD 7.03 billion in 2024, at a CAGR 6.04% to reach USD 10.01 billion by 2030.

Radiotherapy comprises businesses in the medical and healthcare sectors that harness radiation as a mode of treatment, typically for cancer and some non-malignant conditions. It involves deploying high-energy radiation, such as X-rays, gamma rays, and charged particles, primarily destroying cancerous cells, minimizing their growth, and reducing symptoms in palliative cases. The growing adoption of radiotherapy procedures for cancer treatment and rising preference for minimally invasive procedures influence the development of radiotherapy. In contrast, high treatment costs, limited availability of trained professionals, and risks associated with radiation exposure are restricting the utilization of radiotherapy. However, several vendors are working and investing in R&D to overcome these issues. Furthermore, technological advancements and improvements in radiotherapy devices and the introduction of robotic radiotherapy systems for cancer treatment are opportunities for businesses to create and market cutting-edge devices.

Regional Insights

The adoption of radiotherapy in the Americas is driven by various factors, primarily increasing cancer prevalence rates and a general preference for non-invasive treatment methods. Advanced technologies such as 3D conformal radiotherapy (3D CRT) and intensity-modulated radiotherapy (IMRT) contribute to this market's growth. Simultaneously, government initiatives focusing on cancer prevention and control are a significant factor behind this market's expansion. EMEA region has an increasing need for radiotherapy due to rising cancer incidents. With diverse cancer cases observed across the region, radiotherapy becomes a preferred treatment solution, offering targeted and efficient treatment outcomes. Regulatory approvals for innovative radiotherapy devices, the proliferation of cancer research, and robust healthcare frameworks further bolster the market. The APAC region is witnessing a rapid expansion in the radiotherapy market driven by the escalating burden of cancer. Several countries have high cancer rates, fueling the need for effective treatment modalities, including radiotherapy. The sector's growth is amplified by increasing awareness about early diagnosis, improved access to cancer treatments, and technological advancements within this domain. APAC's emerging economies are also investing heavily in healthcare infrastructure, which further propels the adoption of radiotherapy.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Radiotherapy 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

Growing adoption of radiotherapy procedures for cancer treatment
Rising preference for minimally invasive procedures
Increasing government initiatives and programs for radiotherapy

Market Restraints

High treatment costs and limited availability of trained professionals

Market Opportunities

Technological advancements and improvements in radiotherapy devices
Introduction of robotic radiotherapy systems for cancer treatment

Market Challenges

Risks associated with radiation exposure

Market Segmentation Analysis

Product: Advancements in hardware manufacturing process as it provide high radiation doses to the tumor site
Type: Consumer preference for external beam radiotherapy/teletherapy as they target tumor from outside and large tumors
Procedure: Increasing advancements in external beam radiotherapy to streamline process and improve patient comfort
Application: Growing application of radiotherapy for gynecological cancer
End-User: Significant role of radiotherapy for hospitals service as they provide comprehensive care for cancer patients

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 Radiotherapy 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 Radiotherapy 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

CIVCO Radiotherapy and Qfix Launch CQ Medical Brand

CIVCO Radiotherapy and Qfix unveiled their new brand, CQ Medical, which represents the culmination of their 80 combined years of experience in providing patient-centric radiotherapy solutions. With the shared vision of delivering innovative and comprehensive product offerings, as well as exceptional customer and patient care, CQ Medical is committed to Care Smarter. The name is CQ Medical is derived from the company's philosophy of applying both intelligence and empathy, known as the Care Quotient, to their wide range of products and services.

GE HealthCare Collaborates with Elekta to Expand Access to Precision Radiation Therapy Solutions in India

GE Healthcare partnered with Elekta to enhance the accessibility of precision radiation therapy solutions in the Indian market. Radiation therapy stands as a pivotal element in cancer treatment, with more than 50% of patients necessitating it as an integral part of their comprehensive care plan. GE Healthcare and Elekta enable the fusion of cutting-edge diagnostic solutions from GE Healthcare with state-of-the-art radiation therapy solutions from Elekta. With this integrated approach, cancer patients undergoing radiotherapy treatment can receive enhanced quality care, ensuring optimal outcomes and improved patient experiences.

IBA Launches Latest Radiation Therapy Quality Assurance Offerings

IBA introduced DOSE-X, the next-generation reference-class electrometer, as well as the recently upgraded myQA iON 2.0 and myQA PROactive. These advancements highlight IBA's commitment to delivering cutting-edge technology and solutions for accurate and efficient radiation therapy. With its innovative solutions and expertise, IBA continues to shape the future of radiation therapy.

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 Radiotherapy 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 Radiotherapy Market, highlighting leading vendors and their innovative profiles. These include Accuray Incorporated, Agilent Technologies Inc., Becton, Dickinson and Company, Cardinal Health, Inc., Charles River Laboratories International, Inc., Elekta AB, F. Hoffmann-La Roche Ltd., GE HealthCare Technologies Inc., IBA Dosimetry GmbH, IntraOp Medical, Inc., Koninklijke Philips N.V., Leo Cancer Care, Mevion Medical Systems, Panacea Medical Technologies Pvt. Ltd., PerkinElmer, Inc., Qfix, Quanterix Corporation, Radiology Oncology Systems, Siemens AG, Varian Medical Systems, Inc., ViewRay Technologies, Inc., and ZEISS Group.

Market Segmentation & Coverage

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

Product
Hardware
Software & Service
Type
External Beam Radiotherapy/Teletherapy
Conventional Cabalt-60 Teletherapy Units
Linear Accelerators
Conventional Linear Accelerators
CyberKnife TomoTherapy
Gamma Knife
MRI LINAC
Stereotactic Advanced Electron/Cobalt-60 Linear Accelerators
Particle Therapy Systems
Cyclotrons
Synchrocyclotron
Synchrotrons
Internal Beam Radiotherapy/Brachytherapy
Afterloaders
Applicators
IORT Systems
Seeds
Systemic Radiotherapy
lobenguane (l-131)
Rhenium-186
Samarium-153
Procedure
External Beam Radiotherapy
3D Conformal Radiotherapy
Image-Guided Radiotherapy
Intensity-Modulated Radiotherapy
Particle Therapy
Stereotactic Therapy
Instillation Radiotherapy
Internal Beam Radiotherapy or Brachytherapy
High-Dose-Rate Brachytherapy
Low-Dose-Rate Brachytherapy
Pulsed-Dose-Rate Brachytherapy
Intravenous Radiotherapy
Oral Radiotherapy
Systemic Radiotherapy
Application
Breast Cancer
Cervical Cancer
Colorectal Cancer
Gynecological Cancer
Head & Neck Cancer
Lung Cancer
Penile Cancer
Prostate Cancer
End-User
Hospitals
Independent Radiotherapy Centers
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