Increasing prevalence of cancer and increasing use of proton therapy for cancer treatment are some key factors driving market revenue growth.
Increasing prevalence of cancer and increasing use of proton therapy for cancer treatment are some key factors driving market revenue growth
The global radiotherapy market size is expected to reach USD 11.08 Billion in 2028 and register a CAGR of 6.9% over the forecast period, according to the latest report by Reports and Data. Rising prevalence of various types of cancers and increasing use of proton therapy for cancer treatment are some key factors expected to drive market revenue growth over the forecast period. In addition, increasing awareness programs conducted by governments and non-profit organizations to create awareness regarding the disease and treatments among sufferers and alleviate fear and stigma associated with cancer are factors also expected to contribute to revenue growth of the market going ahead.
Radiotherapy is a method of cancer treatment, which entails use of high doses of radiation to destroy malignant cells and control spread of tumors. External beam radiotherapy and internal beam radiotherapy/brachytherapy are two primary types of radiotherapy treatment procedures used to treat various types of cancers. Some include prostate, breast, cervical, gynecological, skin, and lung, among others. Systemic radiation therapy is another widely used radiotherapy treatment approach, which entails use of radiopharmaceuticals to treat certain types of cancers such as prostate, bone, and thyroid. Systemic radiation therapy has been increasingly incorporated into routine clinical practice, and this is expected to further drive market growth over the forecast period.
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Targeted radionuclide therapy or molecular therapy is a type of systemic radiation therapy that entails use of a minute amount of radioactive compounds or radiopharmaceuticals to diagnose patients with advanced prostate cancer, ovarian cancer, or Gastroenteropancreatic Neuroendocrine Tumor (GEP-NET). Increasing number of research studies focusing on the efficacy of targeted nuclide therapy in treatment of advanced prostate cancer and metastatic liver disease is also expected to fuel revenue growth of the market over the forecast period. However, availability of alternative treatment approaches is expected to restrain radiotherapy market growth to a certain extent over the forecast period.
Some Key Highlights From the Report:
- In October 2020, C4 Imaging LLC announced that it has received 510(k) clearance from U.S. Food and Drug Administration (FDA) for its multimodality C4 Fiducial Marker. The positive signal MRI marker is developed to reduce margins of error or uncertainty during radiotherapy procedure and minimize the risk of side effects
- External beam therapy segment is expected to account for largest revenue share during the forecast period, attributable to increasing use of intensity modulated radiation therapy and image guided radiation therapy procedures for detecting exact tumor size and location to target tumors with higher accuracy and precision.
- Hospitals segment is expected to lead in terms of revenue share over the forecast period, attributed to increasing number of radiotherapy procedures performed in hospitals to treat cancer and rising investment for facilitating installation of technologically advanced radiotherapy systems.
- Prostate cancer segment is expected to register robust revenue growth over the forecast period owing to increasing prevalence of prostate cancer and rising utilization of external beam therapy and internal beam therapy treatment procedures for destroying prostate cancer cells, limiting and controlling growth, and minimizing risk of radiation exposure to healthy tissues
- North America is expected to account for largest revenue share over the forecast period, attributable to increasing prevalence of cancer and rising investment in R&D activities for facilitating development of radiotherapy solutions for more effective cancer treatment.
- Major players in the market include GE Healthcare Inc., Siemens Healthineers AG, Canon Medical Systems Corporation, Isoray Medical, Inc., Varian Medical Systems Inc., C4 Imaging LLC, Eckert & Zeigler AG, Hitachi Ltd., Optivus Proton Therapy Inc., and Mevion Medical Systems Inc.
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For the purpose of this report, Reports and Data has segmented the global radiotherapy market on the basis of type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- External Beam Radiotherapy
- 3-D Conformal Radiation Therapy
- Intensity-Modulated Radiation Therapy (IMRT)
- Image-Guided Radiation Therapy (IGRT)
- Temotherapy
- Stereotactic Radiosurgery
- Others
- Internal Beam Radiotherapy/Brachytherapy
- Systematic Radiotherapy
Application Outlook (Revenue, USD Billion; 2018-2028)
- Breast Cancer
- Prostate Cancer
- Lung Cancer
- Colorectal Cancer
- Skin Cancer
- Cervical Cancer
- Others
End-Use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals
- Ambulatory & Radiotherapy Centers
- Academic & Research Institutes
- Others
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Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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