Market Overview

Radiotherapy Market is Expected to Grow at a CAGR of 5.6% to Reach $10.15 Billion by 2025- Meticulous Research®


London, Feb. 05, 2020 (GLOBE NEWSWIRE) -- According to a new market research report "Radiotherapy Market by Product (Radiotherapy Devices, Software, Service), Procedure (EBRT, Brachytherapy, Systemic Radiotherapy), Technology (IMRT, SRT, VMAT, HDRBT, LDRBT, PDRBT), Application (Prostate, Breast) – Global Forecasts to 2025", published by Meticulous Research®, the radiotherapy market is expected to grow at a CAGR of 5.6% from 2019 to reach $10.15 billion by 2025.

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Cancer is among the major healthcare concerns for the healthcare systems across the world. While it is among one of the leading causes of deaths, the overall expenditure on cancer diagnostics and treatment is also one of the challenging issues for health systems across the world. As per the statistics, Cancer causes about 1 in every 6 deaths worldwide, which is more than AIDS, tuberculosis, and malaria combined. According to the WHO, cancer is the second leading cause of deaths globally. According to Global Cancer Observatory (GLOBOCAN), in 2012, about 14.1 million new cancer cases were diagnosed worldwide, which increased by ~28% to reach 18.1 million new cases in 2018 and claimed an estimated 9.6 million lives. Further, by 2040, the global cancer burden is expected to grow to 27.5 million new cancer cases and account for 16.3 million cancer deaths with simultaneous growth in aging population. The growing incidence and prevalence of cancer has led to greater demand for advanced therapies for cancer treatment. With advances in medical procedures such as radiotherapy, it is now possible to provide more accurate and targeted cancer treatment.

Radiotherapy is the type of cancer radiation treatment that utilizes beams of higher energy to kill cancer cells. Radiation kills cancer cells by directly affecting the DNA or by indirectly making free radicals that diffuse towards the DNA of damaged cells and destroys them. As cancer cells do not have the ability to repair themselves in the same way as normal cells, the radiation treatment leads to complete destruction of tumor cells. Since its initial adoption, radiation therapy has come a long way from treatment planning based on orthogonal radiographs with large margins around tumors. Advances in imaging modalities and radiation planning software have further led to three-dimensional conformal radiotherapy with accurate lesion detection and targeting.

Technological variations and advancements in radiotherapy, such as IMRT, IGRT, and 3-DCRT have provided the ability to precisely conform doses only to the tumor and haveminimized the need for fractionated treatments. Newer techniques, such as stereotactic body radiation therapy proved to be an effective radiotherapy technique with high radiation delivery and promising clinical outcomes. Further, proton and heavy ion therapy gained significant attraction as a breakthrough radiotherapy procedure as it reduces the radiation dose and the toxicities as compared to the traditional radiotherapy methods. In addition, researchers have also combined immunotherapy and radiotherapy to find the optimal radiation doses and balance the immunogenic effects caused due to radiation.

The global radiotherapy market studied in this report is segmented on the basis of procedure (external beam radiotherapy, internal beam radiotherapy), product (radiotherapy devices, radiotherapy consumables & accessories, software, and services), technology {external beam radiotherapy (IMRT, IGRT, SRT, 3D-CRT, and particle therapy) and internal beam radiotherapy [brachytherapy (HDR Brachytherapy, LDR Brachytherapy, IGBT, PDR Brachytherapy) and Systemic Radiation Therapy (Intravenous Radiotherapy and Oral Radiotherapy)]}, application (prostate, brain, breast, lung, head & neck, colorectal, cervical, others), end user (hospitals, independent radiotherapy centers, and cancer research institutes), and geography.

On the basis of procedure, the external beam radiotherapy segment commanded the largest share of the overall radiotherapy market in 2019. Higher installations of external beam radiotherapy equipment, majorly linear accelerators based teletherapy units, due to their technical features like precise radiation delivery, less damage to normal tissues even at high radiation doses, and continuous advances in existing products is supporting the largest share of this segment.

On the basis of product type, radiotherapy devices commanded the largest share of the overall radiotherapy market in 2019. Increasing technological advancements and growing focus of key players on the development of new devices are the major factors driving the growth of the radiotherapy devices market. On the basis of application, the breast cancer segment held the largest share of the overall radiotherapy market in 2019. The factors such as growing incidence of breast cancer and increasing volume of diagnostic procedures and treatment for the disease are supporting the largest share of this segment.

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On the basis of end user, hospitals commanded the largest share of the overall radiotherapy market in 2019; however, radiotherapy centers segment is estimated to grow at the fastest CAGR during the forecast period owing to increasing number of radiotherapy centers across the globe and government investments towards building radiotherapy facilities in developing regions.

Geographically, North America accounted for the largest share of the overall radiotherapy market in 2019, followed by Europe and Asia-Pacific region. However, Asia- Pacific region is expected to witness a rapid growth during the forecast period. The rapid growth of this market is mainly attributed to rising incidence and prevalence of cancer, rising awareness of various healthcare services and treatment options, rising number of middle-class population and their level of disposable income, increasing health insurance penetration, and growing aging population.

Some of the key players operating in the global radiotherapy market are Varian Medical Systems, Inc. (U.S.), Elekta AB (Sweden), Accuray Incorporated (U.S.), C. R. Bard, Inc. (U.S.), Mevion Medical Systems, Inc. (U.S.), Hitachi, Ltd. (Japan), ViewRay, Inc. (U.S.), Panacea Medical Technologies Pvt. Ltd. (India), Isoray, Inc. (U.S.), Optivus Proton Therapy, Inc. (U.S.), P-Cure, Ltd. (Israel), Provison Healthcare, LLC (U.S.), Ion Beam Applications S.A. (Belgium), and Theragenics Corporation (U.S.).

To gain more insights into the market with a detailed table of content and figures, click here:

Table of Content:

1. Introduction
    1.1. Market Ecosystem
    1.2. Currency and Limitations
           1.2.1. Currency
           1.2.2. Limitations
    1.3. Key Stakeholders

2. Research Methodology
    2.1. Secondary Research
    2.1. Primary Research

3. Executive Summary

4. Market Insights
    4.1. Introduction
    4.2. Market Dynamics
           4.2.1. Drivers
            Growing Awareness About the Benefits of Radiotherapy for Cancer Treatment
            Increasing Incidence & Prevalence of Cancer
            Technological Advancements in the Field of Radiotherapy
           4.2.2. Restraints
            High Cost and Complexities Associated with Radiotherapy Procedures
            Paucity of Skilled Healthcare Professionals
            Lack of Advanced Infrastructure Facilities
           4.2.3. Challenges
            Difficulties in  Visualizing Tumours during Radiotherapy Procedures
            Risks due to Radiation Exposures
           4.2.4. Opportunities
            Significant Opportunities from Developing Economies
            Growing Government Investment for Treatment of  Cancer

5. Radiotherapy Market, by Procedure
    5.1. Introduction
    5.2. External Beam Radiotherapy
           5.2.1. Linac Based Teletherapy
           5.2.2. Proton Therapy
           5.2.3. Cobalt-60 Based Teletherapy
    5.3. Internal Beam Radiotherapy
           5.3.1. Brachytherapy
           5.3.2. Systemic Radiotherapy

6. Radiotherapy Market, by Product
    6.1. Introduction
    6.2. Radiotherapy Devices
           6.2.1. External Beam Radiotherapy Systems
            Conventional Linear Accelerators
            Conventional Co-60 Teletherapy Units
            Advanced Stereotactic Radiotherapy Systems
                        Gamma Knife
           Proton Therapy Systems
           6.2.2. Internal Beam Radiotherapy Systems
            Brachytherapy Systems
                        Electronic Brachytherapy Products
    6.3. Radiotherapy Consumables and Accessories
           6.3.1. Internal Beam Radiotherapy Consumables and Accessories
            Brachytherapy Consumables & Accessories
                         Brachytherapy Applicators
                         Brachytherapy Seeds
            Systemic Radiation Therapy
                         Iobenguane (I-131)
    6.4. Services
    6.5. Software

7. Radiotherapy Market, by Technology
    7.1. Introduction
    7.2. External Beam Radiotherapy
           7.2.1. Intensity-Modulated Radiation Therapy (IMRT)
           7.2.2. Image-Guided Radiation Therapy (IGRT)
           7.2.3. Stereotactic Radiation Therapy (SRT)
           7.2.4. 3D Conformal Radiation Therapy (3D-CRT)
           7.2.5. Particle Therapy
    7.3. Internal Beam Radiotherapy
           7.3.1. Brachytherapy
            High-Dose Rate Brachytherapy
            Low-Dose Rate Brachytherapy
            Image-Guided Brachytherapy
            Pulse-Dose Rate Brachytherapy
           7.3.2. Systemic Radiation Therapy
            Intravenous Radiotherapy
            Oral Radiotherapy

8. Radiotherapy Market, by Application
    8.1. Introduction
    8.2. Breast Cancer
    8.3. Prostate Cancer
    8.4. Lung Cancer
    8.5. Brain Tumour
    8.6. Head and Neck Cancer
    8.7. Colorectal Cancer
    8.8. Cervical Cancer
    8.9. Others

9. Radiotherapy Market, by End User
    9.1. Introduction
    9.2. Hospitals
    9.3. Independent Radiotherapy Centres
    9.4. Cancer Research Institutes

10. Radiotherapy Market, by Geography
      10.1. Introduction
      10.2. North America
               10.2.1. U.S.
               10.2.2. Canada
      10.3. Europe
               10.3.1. Germany
               10.3.2. France
               10.3.3. Italy
               10.3.4. U.K.
               10.3.5. Spain
               10.3.6. Rest of  Europe
      10.4. Asia-Pacific
               10.4.1. China
               10.4.2. Japan
               10.4.3. India
               10.4.4. Rest of  Asia-Pacific
      10.5. Latin America
      10.6. Middle East & Africa

11. Competitive Landscape
      11.1. Competitive Growth Strategies
      11.2. Competitive Benchmarking
      11.3. Market Share Analysis

12. Company Profiles(Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
      12.1. Varian Medical Systems, Inc.
      12.2. Elekta AB
      12.3. Accuray Incorporated
      12.4. C. R. Bard, Inc. (A Subsidiary of  Becton Dickinson & Company)
      12.5. Mevion Medical Systems, Inc.
      12.6. Hitachi, Ltd.
      12.7. ViewRay, Inc.
      12.8. Panacea Medical Technologies Pvt. Ltd.
      12.9. IsoRay, Inc.
      12.10. Optivus Proton Therapy, Inc.
      12.11. P-Cure, Ltd.
      12.12. Provision Healthcare, LLC
      12.13. Sumitomo Heavy Industries, Ltd.
      12.14. Ion Beam Applications S.A.
      12.15. Theragenics Corporation

13. Appendix
      13.1. Questionnaire
      13.2. Available Customization

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