Radiotherapy Market By Type (External Beam Radiation Therapy, Internal Radiation Therapy, Systemic Radiation Therapy), By End User (Hospitals and Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global radiotherapy market was valued at $6,484.3 million in 2021, and is projected to reach $11,945.03 million by 2031, registering a CAGR of 6.3% from 2022 to 2031.
Radiotherapy is also known as radiation therapy, which utilizes high-energy radiation to kill cancer cells and reduce the size of tumor. It involves the use of various rays, including X-rays, gamma rays, and charged particles. During radiotherapy, radiation can be delivered to the body tissues internally as well as externally. According to the National Cancer Institute, around half of all the cancer patient population receives some type of radiation therapy during their treatment.
The market is driven by growth in number of cancer patients, increase in geriatric population, rise in adoption of radiotherapy devices and procedures, surge in number of awareness campaigns about the benefits of radiotherapy, and technological advancements in radiotherapy devices. However, lack of skilled personnel and difficulty in tumor visualization restrict the market growth. Conversely, growth opportunities in emerging markets and rise in demand for cancer treatment are expected to provide several opportunities for market growth during the forecast period.
According to the report of National Cancer Institute 2020, an estimated 1,806,590 new cases of cancer diagnosed in the U.S. and 606,520 people died from the disease in 2020. Prostate, lung, and colorectal cancers account for an estimated 43% of all cancers diagnosed in men in 2020. For women, the three most common cancers are breast, lung, and colorectal, and accounted for an estimated 50% of all new cancer diagnoses in women in 2020. By 2040, the number of new cancer cases per year is expected to rise to 29.5 million and the number of cancer-related deaths to 16.4 million.
The radiotherapy market is segmented on the basis of type, end user, and region. By type, it is divided into external beam radiotherapy therapy, internal radiotherapy/brachytherapy, and systemic radiotherapy. On the basis of end user, it is categorized into hospitals & clinics and Others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the radiotherapy market include Accuray Incorporated, Becton, Dickinson and Company, Elekta AB, IBA (Ion Beam Applications SA), Isoray Medical Inc., Eckert & Ziegler Group, ICAD INC., Nordion, Inc., Siemens Healthineers and Mevion Medical Systems, Inc.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis, current trends, and future estimations of the market to elucidate the imminent investment pockets.
It provides a quantitative analysis from 2021 to 2030 to enable stakeholders to capitalize on the prevailing market opportunities.
Extensive analysis of the market based on products helps understand the type of devices used to treat diabetic problems.
Competitive intelligence highlights the business practices followed by leading players across various regions.
Key players and their strategies are analysed to understand the competitive outlook of the overall market.
Market analysis is conducted by following key product positioning and monitoring the top contenders within the market framework.
Key Market Segments
By Type
External Beam Radiation Therapy
Internal Radiation Therapy
Systemic Radiation Therapy
By End User
Hospitals and Clinics
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Accuray Incorporated
Eckert & Ziegler Group
Elekta AB
Ion Beam Applications SA
Becton, Dickinson and Company
ICAD INC.
ISORAY, INC.
MEVION MEDICAL SYSTEMS, INC.
Siemens Healthineers
NORDION INC.
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