Radiotherapy Market Analysis and Forecast to 2033: By Type (External Beam Radiation Therapy {Intensity-Modulated Radiation Therapy [IMRT], Image-Guided Radiation Therapy [IGRT], Proton Therapy}, Internal Radiation Therapy, Systemic Radiation Therapy), By

Radiotherapy Market Analysis and Forecast to 2033: By Type (External Beam Radiation Therapy {Intensity-Modulated Radiation Therapy [IMRT], Image-Guided Radiation Therapy [IGRT], Proton Therapy}, Internal Radiation Therapy, Systemic Radiation Therapy), By Application (Lung Cancer, Prostate Cancer, Breast Cancer, Cervical Cancer, Head & Neck Cancer), By End-use (Hospitals, Radiotherapy Centers & Ambulatory Surgery Centers, Cancer Research Institutes), and Region

The global radiotherapy market was valued at USD 7.3 billion in 2023 and it is anticipated to grow up to USD 12.5 billion by 2033, at a CAGR of 5.4% during the forecast period.

Radiotherapy, commonly known as radiation therapy, is used for cancer patients to cure cancer by destroying the cancer cells and reducing the size of tumors. X-rays, gamma rays, and charged particles are commonly used radiotherapy markets during radiotherapy. Modern radiotherapy makes use of highly precise collimating devices that positively impacts the market expansion.

Global Radiotherapy Market Scope and Report Structure

Market Trends and Drivers

Rising number of cancer cases is expected to accelerate the market growth Surging number of cancer cases worldwide is expected to foster the market demand for radiotherapy over the analysis timeframe. According to the WHO, cancer is the leading cause of death globally and around ten million deaths occurred in 2020. Breast, prostate, lung, colon and rectum are among the most common cancers that further accelerates the market progress for radiotherapy. Similarly, according to International Agency for Research on Cancer (IARC), over seventeen million new cancer cases across the globe were observed in 2018. And by 2040, it is projected to grow to 27.5 million new cases. Therefore, radiotherapy is the most common method used to treat cancer and ease the symptoms of cancer and further slows or stops the growth of damaged cells. Hence, aforementioned aspects will prove beneficial for the overall market progression.

Market Restraints and Challenges

Difficulties in visualizing tumors during radiotherapy procedures may impede the market growth. One of the major challenges faced during radiotherapy procedures is difficulties faced in the visualization of tumors and demarcations from normal healthy tissues. Advancements in ionizing radiation therapy for cancer treatment are expected to help overcome this challenge. However, since tumors can change their shape daily, it becomes difficult to only radiate the cancerous outgrowth without affecting the surrounding tissues. To limit this, radiologists include a safety margin around the tumor. Also, to minimize the damage to the surrounding healthy tissue, it becomes a compulsion to limit the radiotherapy dose range, increasing the number of treatment cycles needed to eradicate tumorous cells. This is one of the major factors responsible for increasing the cancer treatment costs for patients undergoing radiotherapy.

Global Radiotherapy Market Segmental Overview

The report analyses the global radiotherapy market based on type, application, end use, and region.

Global Radiotherapy Market by Type

Based on type, the radiotherapy market is

Global Radiotherapy Market by Application

On the basis of application, the radiotherapy market is segmented into head & neck cancer, breast cancer, lung cancer, prostate cancer and cervical cancer among others. Among them, the breast cancer segment accounted for significant revenue size in 2023. Radiation therapy is used at every stage to treat breast cancer and uses protons, X-rays or other particles to kill cancer cells. Radiotherapy for breast cancer can be effectively delivered through external radiation and internal radiation or brachytherapy that secures the market progress. Further, this therapy is one of the effective ways to reduce the risk of breast cancer post-surgery and also ease the symptoms caused by cancer. As per the World Health Organization (WHO) data, in 2020, 2.3 million women were diagnosed with breast cancer and as the end of 2020, nearly 7.8 million women were diagnosed and recorded with breast cancer in the past 5 years. Thus, rising demand for advanced and innovative treatments for breast cancer will enhance the overall market demand.

Global Radiotherapy Market by End-use

Based on end-use, the industry is categorized into hospitals, radiotherapy centers & ambulatory surgery centers as well as cancer research institutes. The hospitals segment accounted for over 41% market share in 2023. Hospitals act as one of the first point of contact for the treatment of cancer. Rising number of cancer cases for better treatment options under skillful healthcare professionals will foster the industry progression. Furthermore, hospitals are equipped with advanced healthcare facilities and devices for effective patient management and care that further enhances the overall market trends.

Geographical Analysis of Global Radiotherapy Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America radiotherapy industry captured largest market share in 2023 and is poised to grow substantially during the forthcoming years. High regional growth is attributed to increasing healthcare infrastructure and R&D investments across the region. The regional market is inclined towards funding and early diagnosis & treatment of cancer with its significant measures, instruments, and infrastructure of hospitals or other centers. Presence of several market participants focusing on developing innovative products for better patient management will prove advantageous for the market expansion. Similarly, increasing geriatric population requiring better treatment and favorable government initiatives will accelerate the regional industry statistics.

Major Players in the Global Radiotherapy Market

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