Image Guided Radiation Therapy Market- Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Market Overview:

The Image-Guided Radiation Therapy (IGRT) market was valued at USD 2.25 billion in 2024 and is projected to reach USD 3.40 billion by 2032, growing at a CAGR of 5.3% over the forecast period (2024-2032).

Key factors driving the growth of the IGRT market include advancements in radiation therapy technologies, a rising demand for non-invasive treatment options, and an aging population with an increased susceptibility to cancer. Heightened awareness surrounding early cancer detection and treatment has spurred the need for advanced radiation therapy techniques. The integration of Artificial Intelligence (AI) and Machine Learning (ML) in IGRT is also enhancing treatment precision and operational efficiency. However, the high costs associated with treatment and the shortage of skilled professionals may pose challenges to market expansion. Government policies and reimbursement schemes supporting cancer treatment are expected to further propel IGRT adoption. Additionally, the growing use of multi-modal imaging in radiation therapy is improving treatment accuracy, minimizing recurrence rates. Collaborative efforts between healthcare providers and technology firms are also contributing to greater accessibility and innovation in IGRT technologies.

Market Drivers:

Rising Cancer Prevalence and Aging Population:
The increasing incidence of cancer, particularly among the elderly, is driving demand for IGRT solutions. According to the Indian Council of Medical Research (ICMR), cancer prevalence among adults aged 60 and above in India is notably high, accounting for 53.7% of cases. Older adults are more vulnerable to cancer due to weakened immune systems and prolonged exposure to carcinogens, necessitating precise, minimally invasive treatments. IGRT offers targeted therapy with minimal damage to healthy tissues, making it an essential treatment modality for geriatric patients. Increased awareness about early cancer detection and the shift toward personalized treatment approaches are further promoting IGRT adoption.

Market Challenges Analysis:

High Costs of IGRT Systems and Treatments:
The high cost of IGRT systems and treatments remains a significant barrier to market growth. The advanced technologies required for IGRT demand substantial investments in equipment, software, and infrastructure, creating financial challenges for healthcare facilities, especially in developing regions. The cost of system installation, maintenance, and patient treatment—including imaging and radiation procedures—further heightens affordability concerns. While government reimbursement policies and insurance coverage are improving in certain regions, financial constraints continue to limit the widespread adoption of IGRT. The substantial upfront investment required also deters smaller healthcare providers from transitioning to IGRT, resulting in unequal access to advanced cancer care. Moreover, upgrading existing radiotherapy systems to incorporate IGRT capabilities adds an additional financial burden. To overcome these challenges, industry players are focusing on developing more cost-effective IGRT solutions and establishing strategic partnerships with healthcare organizations to facilitate broader access.

Segmentations:

By Procedure:

Stereotactic therapy

Intensity-modulated radiation therapy

Proton beam therapy

3D Conformal Radiation therapy

Particle therapy

By Product Type:

4D gating/4D RT

LINAC (Linear Accelerator)

Portal Imaging

CT scanning

PET/MRI-guided radiation therapy

By Application:

Head and neck cancers

Breast cancer

Prostate cancer

Lung cancer

Gynecological cancers

Central nervous system cancers

Gastrointestinal cancers

By Region:

North America: Canada, US

Asia Pacific: Japan, India, Australia, China, South Korea, Rest of Asia Pacific

Europe: Germany, UK, Italy, France, Spain, Rest of Europe

Latin America: Mexico, Brazil

MEA

Key Player Analysis:

Siemens Healthineers AG (Germany)

Elekta (Sweden)

Accuray Incorporated (US)

Toshiba Corporation (Japan)

Varian Medical Systems (US)

GE Healthcare Company (US)

Hitachi (Japan)

Koninklijke Philips (Netherlands)

ViewRay, Inc.

Brainlab AG

IBA Dosimetry GmbH

Canon Medical Systems Corporation

Mitsubishi Electric Corporation

Nordion (Canada) Inc.