Overview

Radiotherapy Market Introduction

Radiotherapy market is forecasted to value over USD 8.6 billion by 2027 end and register a CAGR of over 6.2% from the forecast period 2020-2027.

Improvements and further amendments in image-guided radiotherapy are propelling the market. The rising preference towards radiotherapy procedures for cancer treatment coupled with increasing usage of particle therapy for cancer diagnosis is spurring the market growth. Latest technological advancements in radiotherapy are expected to propel the market. Furthermore, rising incidences of cancer have expanded the market. According to the American Cancer Society, in 2020, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the United States. The rise in research and development activities regarding cancer treatment launched by non-government and government organizations is expected to boost the market.

The market is classified into product type, type, application, end-user, and region. In terms of type, the market is segmented into radiotherapy, internal beam radiotherapy, systemic radiotherapy, and external beam radiotherapy. External beam radiotherapy is expected to achieve high growth owing to the latest advancements in particle beam therapy. Growing research activities related to the field of radiation oncology is expected to propel the market.

Based on product type, external beam radiotherapy is expected to achieve the highest growth owing to the affordable cost of equipment of linear accelerator. The 360-degree radiation treatment offered by tomotherapy is adding further growth opportunities thus spurring the market.

Based on application, the prostate cancer segment of external beam radiotherapy market holds a vast share of the market. The rising cases of prostate cancer coupled with high success rates of external beam radiotherapy are expected to escalate the market. Moreover, the minimum long term risks associated with external beam radiotherapy is expected to positively influence the market.

On the basis of end-user, hospital segment is expected to hold the major market share. Rising healthcare infrastructure and easy access and availability of advanced equipment have expanded the market. The rising cases of cancer globally has resulted in more deployment of hospitals, thus accelerating the market growth.

Based on regions, North America dictates the market growth. Presence of prominent players and developed healthcare infrastructure is boosting the market in the region. Growing cases of cancer and favorable government policies are promoting adoption of radiotherapy, thus positively influencing the market.

Asia-Pacific region is expected to be a lucrative region for manufacturers owing to a rapidly improving healthcare infrastructure and growing per capita income in emerging economies like China, Japan and India. In addition, favorable policies launched by the governments of these countries is expected to strengthen market position in the region.

Major players of the market are Hitachi Ltd., IsoRay Medical, Inc, Ion Beam Applications SA, Provision Healthcare, Varian Medical Systems, Inc, Mevion Medical Systems, Inc, Panacea Medical Technologies Pvt.Ltd, Accuray Incorporated, Elekta AB, ISORAY MEDICAL, INC., NORDION, INC., VARIAN MEDICAL SYSTEMS, INC.

Competitive Landscape:
● Varian Medical Systems in 2017, opened its centre in Jundiai, Brazil. The move will increase the access to advanced radiotherapy equipment and treatment across Brazil
● Varian Medical Systems launched an innovative treatment platform called Halcyon Treatment System. The system eases treatment delivery with increased speed and high-quality plans
● Mitsubishi Electric in 2017 decided to transfer its particle therapy systems to Hitachi

Radiotherapy Market Segmentation

By Product Type

External Beam Radiotherapy
Linear Accelerators
Particle Therapy System
Conventional Cobalt-60 Teletherapy Units
Internal Beam Radiotherapy/Brachytherapy
Seeds
Applicators
Afterloaders
Electronic Brachytherapy Products
Systemic Radiotherapy
Iobenguane (I-131)
Samarium-153
Rhenium-186

By Type

External Beam Radiotherapy
Image-Guided Radiotherapy
3d Conformal Radiotherapy
Intensity-Modulated Radiotherapy
Stereotactic Therapy
Particle Therapy
Internal Beam Radiotherapy
Low-Dose-Rate Brachytherapy
High-Dose-Rate Brachytherapy
Pulsed-Dose-Rate Brachytherapy
Systemic Radiotherapy
Intravenous Radiotherapy
Oral Radiotherapy
Instillation Radiotherapy

By Application

External Beam Radiation Therapy
Prostate Cancer
Breast Cancer
Lung Cancer
Head and Neck Cancer
Colorectal Cancer
Other Cancers
Internal Beam Radiotherapy/Brachytherapy
Prostate Cancer
Gynecological Cancer
Breast Cancer
Cervical Cancer
Penile Cancer
Other Cancers

By End User

Hospital
Independent Radiotherapy Centers

By Region

North America
Europe
Asia Pacific
Latin America
Rest of the World

FutureWise Key Takeaways
● Growth Prospects
● SWOT Analysis
● Key Trends
● Key data-points affecting market growth

Objectives of the Study:
• To provide with an exhaustive analysis on radiotherapy the market by type, by product type, by application, by end-user and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America and rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financial and core competencies

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