Radiotherapy Market: Forthcoming Trends to Boost the Global Industry Revenue by 2023

 

What This Report Will Provide?

This study involved four major activities in estimating the current size of the radiotherapy market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.

The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.

Expected Revenue Growth:

[266 Pages Report] The radiotherapy market is projected to grow from an estimated USD 5.6 billion in 2018 to USD 6.8 billion by 2023, at a CAGR of 4.1%.

Major Growth Boosters:

Market growth is largely driven by factors such as technological advancements, the rising prevalence of cancer, the increasing number of conferences and symposia focusing on spreading awareness about the benefits of radiotherapy, and the growing use of particle therapy for cancer treatment. The emerging markets, growing government and private investments to meet the increasing demand for cancer treatment, and the improving reimbursement scenario are expected to present a wide range of growth opportunities for market players.

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Recent Development:

In 2018, Varian Medical Systems (US) launched the ProBeam 360 single-room proton therapy system. This new particle accelerator has a 360-degree rotating gantry and high-definition pencil-beam scanning technology capable of providing efficient Intensity Modulated Proton Therapy (IMPT).

In 2018, Hitachi Ltd. (Japan) received FDA 510(k) approval for the commercialization of its Real Time Image Gating System for Proton Beam Therapy Systems (RGPT). This will allow patients to be treated with cutting-edge motion management along with the company’s advanced Spot Scanning irradiation technology.

In 2018, the Elekta Unity magnetic resonance radiation therapy (MR/RT) system received CE mark for commercial use across Europe. This integrated product will allow the delivery of the radiation doses along with the simultaneous visualization of the tumor and surrounding healthy tissue with high-quality MR images.

Key Questions Addressed in The Report:

1. Who are the top 10 players operating in the global radiotherapy market?
2. What are the drivers, restraints, opportunities, and challenges in the radiotherapy Industry?
3. What are the opportunities for stakeholders and provide details of the competitive landscape for key players?
4. What will be growth of radiotherapy in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa?

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Regional Growth:

The Asia Pacific is one of the major revenue-generating regions in the radiotherapy market. China, India, and Japan are the major countries responsible for the high growth of this regional market owing to factors such as the increasing per capita income, improving healthcare infrastructure, and supportive government activities in these emerging countries. Furthermore, the increasing geriatric population, the growing incidence of cancer, and the rising acceptance of radiotherapy procedures and devices are also driving the growth of this regional market.

Key Players:

Varian Medical Systems, Inc. (US), Elekta AB (Sweden), and Accuray Incorporated (US) dominated the radiotherapy market. Other players in this market include Ion Beam Applications SA (Belgium), ViewRay, Inc. (US), IsoRay Medical, Inc. (US), Hitachi Ltd. (Japan), Panacea Medical Technologies Pvt. Ltd. (India), Provision Healthcare (US), and Mevion Medical Systems, Inc. (US).