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Global Radiotherapy Market is expected to grow to USD 8.19 billion by 2023

Electromagnetic waves or high-energy radioactive particles are used in radiation therapy for destroying cancer cells.
kumar mdf | 02.11.2018
Radiotherapy © kumar mdf
Overview:

Science of radiotherapy has changed over the years due to substantial advancements in the field of medical technology. A gradual transition is observed from traditional technologies towards complex techniques such as intensity modulated radiotherapy (IMRT), stereotactic body radiation therapy, 4D imaging and proton therapy. These procedures are improving the precision and accuracy of radiotherapy.

Electromagnetic waves or high-energy radioactive particles are used in radiation therapy for destroying cancer cells, repair physiological abnormalities and shrink tumour cells. Radiotherapy is developing as a foremost technology for destroying the cancer disease. It is a confined treatment like surgery and affects a particular area only.

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Market views:

Global Radiotherapy Market value is estimated to grow at a CAGR 23.24% to reach USD 54.88 billion by 2023.

Drivers and restraints:

Drivers which are influencing the growth of radiotherapy market are Technological advancements in radiotherapy products, rise in number of aged population, rising prevalence of cancer cases all over the globe, increasing symposiums powerful investments in radiotherapy, and rising acceptance of radiotherapy devices and processes will cheifly drive the radiotherapy market. Few other factors which are boosting this market growth are increasing preference for non-surgical procedures and rise in demand for alternate as hospitals are replacing older equipment with the newer therapy systems which offers improved facilities.

The restraints which are limiting the growth of radiotherapy market are Lack of adequate infrastructure and satisfactory skills.

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Partition of the Market:

The global radiotherapy market is partitioned according to type into External beam radiation therapy, internal beam radiation therapy and systemic radiation therapy. External beam radiation therapy is sub sectioned into Intensity-modulated radiation therapy (IMRT), Image-guided radiation therapy (IGRT), Tomotherapy, Stereotactic radiosurgery, Stereotactic body radiation therapy and Proton therapy. With respect to application the market is sectioned into Skin & Lip Cancer, Head & Neck Cancer, Breast Cancer, Prostate Cancer, Cervical Cancer, Lung Cancer and Spine Cancer. With respect to equipment type market is bifurcated into Linear accelerators, Radiation therapy simulators and Treatment planning systems. The prostate cancer application is expected to hold the largest share in both external beam radiotherapy market along with internal radiotherapy market.

Geographically the radiotherapy market is sectioned into various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. North America is likely to be the leading market in 2018, while Asia-Pacific is anticipated to grow at the highest rate during the forecast period from 2018 to 2023. increasing number of cancer patients in Asia-Pacific region is expected to drive the radiotherapy market in this region.

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Key players of the market:

Prominent players in radiotherapy market are Nordion Inc. (Canada), RaySearch Laboratories AB (Sweden), Ion Beam Applications SA (Belgium), C. R. Bard Inc. (U.S.), Mevion Medical Systems Inc. (U.S.), Varian Medical Systems Inc. (U.S.), IsoRay Medical Inc. (U.S.), Elekta AB (Sweden), Accuray Incorporated (U.S.), and Mitsubishi Electric Corporation (Japan) are the key players in the radiotherapy market.

Scope of the Report:

The report offers an extensive examination of the business by giving the estimations of market potential and gauges with most extreme granularity. Along this, the variables persuasive in affecting the market flow and patterns are examined in detail at the item level. Further, the execution of the market at the territorial and nation level is evaluated and the prospects with high development potential are distinguished and discussed.

The key players in the business are profiled giving bits of knowledge on their money related execution, advertise position and development techniques. Similar investigation on prime strategical exercises of the market players depicting the key advancements like mergers and acquisitions, coordinated efforts and an assessment of the focused condition inside the business are given. The report additionally offers an expansive standpoint of the market alongside proposals from industry specialists on the open doors for speculation action.

What else? Aside from the syndicated report, our in-house group has an aptitude and involvement in planning custom reports to meet your particular research needs and help you in settling on very much educated choices.

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