Radiotherapy Market to Grow with a CAGR of 8.18% through 2028
Increase in the Healthcare Infrastructure and increase
in the clinical research is expected to drive the Global Radiotherapy Market
growth in the forecast period, 2024-2028.
According to TechSci Research report, “Radiotherapy
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Radiotherapy Market stood at USD 6.12 billion in 2022 and is anticipated to grow with a CAGR of 8.18% in the forecast
period, 2024-2028. The awareness among individuals regarding Radiotherapy has
led to favorable market conditions for the global Radiotherapy market. Several
factors contribute to the growth of various Radiotherapy products.
The growing Radiotherapy techniques have evolved from
conventional methods to highly precise, targeted therapies. Techniques such as
Intensity-Modulated Radiation Therapy (IMRT), Stereotactic Body Radiation
Therapy (SBRT), and Proton Therapy have revolutionized the field. These
technological innovations have led to increased treatment precision, reduced
side effects, and improved patient outcomes. The integration of Artificial
Intelligence (AI) and Machine Learning (ML) algorithms has further optimized
treatment planning and delivery, enhancing the efficacy of radiotherapy.
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Radiotherapy plays a pivotal role in cancer
management, offering curative and palliative solutions. Its ability to target
and destroy cancer cells with precision makes it indispensable in the fight
against this formidable disease. The increasing prevalence of cancer, combined
with the aging population, is propelling the demand for radiotherapy services,
which will further fuel market growth.
In November 2022: Canon Medical Systems Corporation
announced the release of the Alphenix / Evolve Edition, an advanced 3D imaging
system for interventional cardiology. The system uses artificial intelligence
(AI) to improve image quality and reduce radiation exposure.
Developing countries are witnessing significant
investments in healthcare infrastructure, including the establishment of
state-of-the-art cancer centers and radiotherapy facilities. This expansion
ensures that radiotherapy becomes accessible to a larger population, bridging
the gap between demand and supply, and growing awareness of the benefits of Radiotherapy
are expected to positively impact the global Radiotherapy market.
In our fast-paced world, where time is of the essence
and medical treatments need to be efficient and effective, radiotherapy plays a
crucial role. Consequently, Radiotherapy is a precise and focused treatment
modality. It can deliver high doses of radiation directly to the tumor while
sparing healthy surrounding tissues. This precision is especially valuable in a
fast-paced world where patients often need to resume their daily activities as
soon as possible. Advanced radiotherapy techniques like Stereotactic Body
Radiation Therapy (SBRT) and hypofractionation allow for shorter treatment
courses. Patients can complete their therapy in just a few sessions, reducing the
time spent on treatment appointments. Radiotherapy sessions are typically
outpatient procedures, allowing patients to maintain their routines and
responsibilities. This is vital in a world where people have busy schedules and
commitments. Radiotherapy can be combined with surgery, chemotherapy,
immunotherapy, and targeted therapies. This synergy allows for a
multidisciplinary approach to cancer treatment, addressing the disease from
multiple angles and potentially reducing the duration of treatment. Radiotherapy
can be tailored to the individual patient's needs. This personalization ensures
that patients receive the most effective treatment with minimal side effects,
allowing them to recover and return to their fast-paced lives more swiftly.
Radiotherapy requires a highly skilled and specialized
workforce, including radiation oncologists, medical physicists, radiation
therapists, and dosimetrists. Training these professionals demands substantial
time and resources. A shortage of qualified personnel can limit the capacity of
healthcare facilities to offer radiotherapy services.
In recent times, Radiotherapy is used as a primary
treatment for many cancer types, especially when surgery is not feasible due to
tumor location or patient condition. It is often employed after surgery to
eliminate any remaining cancer cells and reduce the risk of recurrence. In some
cases, radiotherapy is administered before surgery to shrink tumors, making
them easier to remove. Radiotherapy helps alleviate pain and symptoms in
advanced-stage cancer patients, enhancing their quality of life. IMRT delivers
highly precise radiation doses to tumors while sparing healthy tissue, reducing
side effects. SBRT enables the delivery of high-dose radiation in fewer
sessions, making it effective for small, localized tumors. Proton therapy uses
charged particles (protons) to target tumors with minimal damage to surrounding
tissues, reducing long-term side effects. IGRT utilizes real-time imaging to
ensure accurate radiation delivery, even when a patient's position changes. Advanced
imaging and genetic profiling help tailor treatment plans to a patient's unique
tumor characteristics. Some patients may receive escalated radiation doses if
their tumors are more aggressive, while others may benefit from lower doses to
minimize side effects. However, the Cost and Accessibility Barriers raw
materials may hinder market growth. Moreover, challenges related to Regulatory
and Compliance Hurdles may pose obstacles to the Radiotherapy market in the
near future.
The Global Radiotherapy Market is segmented into type,
application, end-user, regional distribution, and company.
Based on its formulation, the external beam radiation therapy (EBRT)
segment segment has emerged as the predominant market leader, as adults
worldwide prefer the convenience of consuming Radiotherapy in external beam radiation
therapy (EBRT) segment. This is highly versatile and can be employed to
treat various types of cancer, including but not limited to prostate, breast,
lung, and head and neck cancers. Its adaptability to different cancer types
contributes to its widespread adoption. Curative and Palliative Treatment: EBRT
can be used for both curative and palliative purposes. In curative settings, it
aims to eliminate cancer cells completely, while in palliative care, it
provides relief from symptoms and improves the quality of life for advanced-stage
cancer patients. This dual functionality increases its utility.
Non-Invasive Treatment: EBRT is non-invasive, meaning
it does not require surgical incisions. Patients are not subjected to the
physical trauma associated with surgery, leading to quicker recovery times and
reduced post-treatment complications. Advanced EBRT techniques, such as
Intensity-Modulated Radiation Therapy (IMRT) and Image-Guided Radiation Therapy
(IGRT), enable precise targeting of tumors while sparing healthy surrounding
tissues. This minimization of collateral damage results in fewer side effects,
making it an attractive choice for patients.
Based on region, North America segment is expected to
grow during the forecast period. North America, including the United
States and Mexico, highly developed healthcare infrastructure, including
top-tier hospitals and cancer centers. These institutions have access to the
latest radiotherapy equipment and technologies. Cancer Prevalence: North
America has a relatively high prevalence of cancer, which drives the demand for
radiotherapy services. Factors such as lifestyle choices, genetics, and an
aging population contribute to the incidence of various cancer types.
Cutting-Edge Technologies: The region is at the forefront of technological
advancements in radiotherapy. Advanced treatment modalities, such as
Intensity-Modulated Radiation Therapy (IMRT), Stereotactic Body Radiation
Therapy (SBRT), and Proton Therapy, are widely available in North American
healthcare settings. North America hosts numerous research institutions and
conducts a substantial portion of global clinical trials in oncology and radiotherapy.
This continuous research contributes to the development of innovative treatment
approaches and technologies.
The Asia-Pacific market is poised to be the
fastest-growing market, offering lucrative growth opportunities for
Radiotherapy players during the forecast period. Factors such population
growth, aging, and changing lifestyles contribute to this trend, creating a
substantial demand for cancer treatment, including radiotherapy. Infrastructure
Development: Many countries in the Asia-Pacific region are investing heavily in
healthcare infrastructure expansion, including the establishment of cancer
treatment centers and radiotherapy facilities. This expansion aims to address
the increasing demand for cancer care. Adoption of Modern Technologies: The
region is progressively adopting advanced radiotherapy technologies. While
there may be variations in the availability of cutting-edge equipment, the
trend is toward the integration of modern radiotherapy modalities into cancer
treatment protocols. Supportive Policies: Some Asia-Pacific governments are
implementing policies to improve cancer care and treatment accessibility. These
initiatives may include subsidizing radiotherapy treatments or supporting the
development of cancer care infrastructure. Rising Middle Class: Economic growth
in many Asia-Pacific countries has led to an expanding middle class with
increased healthcare expectations.
Major companies operating in
Global Radiotherapy Market are:
- Canon Medical Systems Corporation
- GE Healthcare
- Elekta
- ViewRay Technologies, Inc.
- Mevion Medical Systems
- Eckert & Ziegler (BEBIG Medical)
- Siemens Healthineers AG
- Accuray Incorporated
- Isoray Inc.
- Hitachi, Ltd.
- ALCEN (PMB)
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“The technological advancement and increasing incidence
of cancer are key drivers of the Radiotherapy market. In recent years, Ongoing
clinical trials and research initiatives explore new radiotherapy techniques,
combinations with other therapies, and personalized treatment approaches. These
endeavors drive innovation and adoption. Moreover, the growing consumer
emphasis on preventative healthcare products has enhanced production and
marketing efforts. To meet the demands of the market, manufacturers are increasingly
incorporating cutting-edge technologies with high production efficiency. Rising
consumer acceptance and continuous product innovation will further ensure the
growth of the Radiotherapy and supplements market in the coming years.,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Radiotherapy Market – Global Industry Size, Share,
Trends, Opportunity, & Forecast 2018-2028 Segmented By Type (External Beam
Radiation Therapy, Internal Radiation Therapy, Systemic Radiation Therapy), By
Application (kin & Lip Cancer, Breast Cancer, Prostate Cancer, Cervical
Cancer, Lung Cancer, Others), By End-User (Hospitals, Research Institutes,
Ambulatory and Radiotherapy Centers), By Region, Competition”, has evaluated
the future growth potential of Global Radiotherapy Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Radiotherapy Market.
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