The size of the Radiotherapy Market in North America was worth USD 2.13 billion in 2023 and is estimated to be growing at a CAGR of 5.54% to reach USD 2.79 billion by 2028.
The growing cancer patient population across the North American region drives the radiotherapy market growth in North America. Lifestyle changes, exposure to toxic air, hormonal imbalances, genetic factors and other reasons contribute to cancer occurrence in North America. America saw approximately 1.9 million new cancer cases in 2022. Radiotherapy is a treatment using high-dose radiation to kill cancer cells and shrink tumors, is widely used alongside other treatments like chemotherapy, immune therapy, and hormone therapy. External beam radiation and internal radiation therapy are common radiotherapy procedures, targeting various types of cancer.
The rising awareness about radiotherapy propels the growth of the North American radiotherapy market. Radiotherapy utilizes high doses of radiation to damage cancer cells' DNA, halting their division and reducing or preventing cancer growth. The procedure involves multiple sessions and is used to treat various types of cancer in patients.
The growing number of advancements in the development of radiotherapy with fewer side effects supports the North American market growth. Researchers and manufacturers are focused on innovating radiotherapy for various cancer types and tumor issues. This includes the development of advanced devices and instruments used in radiotherapy. The significant investments in research and development, strong government support and approvals for novel radiotherapy devices favour the growth rate of the North American market.
The high cost and time-consuming nature of radiotherapy treatment is one of the major factors hindering the North American radiotherapy market growth. Factors such as a shortage of oncologists, challenges in tumor recognition during treatment, lack of public awareness about the radiotherapy process and inadequate reimbursement policies impede the regional market growth. Several side effects, such as tiredness, sickness, headache, diarrhea, and nerve damage are associated with radiotherapy treatment hampers the North American radiotherapy market growth.
This research report on the North American Radiotherapy market has been segmented and sub-segmented into the following categories:
By Equipment Type:
North America accounted for the major share of the global radiotherapy market in 2022 and is expected to continue the leading position in the worldwide market during the forecast period owing to the advancements in cancer treatment and increased healthcare spending. The growing geriatric population further contributes to market growth, as radiation therapy plays a significant role in palliative cancer care for older patients. The United States, with its numerous specialized hospitals and radiotherapy centers, commands a substantial market share. Awareness programs and campaigns conducted by healthcare organizations and the government also foster market development. Canada has a significant presence in the market, supported by favorable reimbursement policies and improved healthcare infrastructure. Adoption of advanced technologies like artificial intelligence in radiotherapy enhances the treatment process. Additionally, the market benefits from the involvement of key players and increased mergers and acquisitions.
KEY MARKET PLAYERS:
Companies playing a promising role in the North America radiotherapy market profiled in this report are Nordion Inc., RaySearch Laboratories AB, Ion Beam Applications SA, C. R. Bard Inc., Mevion Medical Systems Inc., Varian Medical Systems Inc., IsoRay Medical Inc., Elekta AB, Accuray Incorporated and Mitsubishi Electric Corporation.
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