As per our report, the global radiotherapy market size is estimated to grow from USD 8.19 billion by 2025, from USD 6.12 billion in 2020. This market is expected to be growing at a CAGR of 6% during the forecast period.
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 sophisticated 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.
MARKET DRIVERS
Technological developments in radiotherapy products, an increase in the number of the aged population, growing prevalence of cancer cases all over the globe, rising symposiums compelling investments in radiotherapy, and increasing acceptance of radiotherapy devices and processes will mainly drive the radiotherapy market. A few other factors which are fuelling this market growth are rising preference for non-surgical procedures and an increase in demand for replacement as hospitals are replacing older equipment with newer therapy systems that offer better facilities.
An essential requirement for improved and extremely accurate radiation therapy is the need to use the radiation beam to accurately hit just the affected tumor and avoid damage to the surrounding tissue. Image-Guided Radiotherapy is the product of work aimed at incorporating improved imaging techniques to promote more precise cancer tumor visualization. The primary driver projected to accelerate this market's growth over the next decade is further advancements in tumor imaging for radiotherapy applications. The recent developments in CT implementation are anticipated to drive market growth across the forecast period with frequency-modulated radiotherapy and image-guided techniques.
MARKET RESTRAINTS
Lack of sufficient infrastructure and adequate skills are the major restraint for the growth of the radiotherapy market.
REPORT COVERAGE
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REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 to 2025 |
|
Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
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Segments Covered |
By Type, Application, Equipment Type and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa |
This market research report on the global radiotherapy market has been segmented based on the type, application, equipment type, and region.
Radiotherapy Market - By Type
Based on type, Intensity-modulated radiation therapy (IMRT) in the kind of external beam radiation therapy is set to hold a substantial market share. IMRT is by far the most common type of radiation therapy with external beams. It has the largest market share of all external beam therapy types. IMRT's primary benefit is that it can provide high doses of radiation to sites of cancer.
Radiotherapy Market - By Application
Based on the application, the prostate cancer application segment is estimated to hold the largest share in both the external beam radiotherapy market along with the internal radiotherapy market.
Radiotherapy Market - By Equipment Type
Based on equipment type, the segment of Radiation Therapy Simulators is anticipated to hold the largest market share throughout the forecast period. Radiation therapy simulators are the devices that generate the primary images for use in radiation therapy treatment planning. The area is overgrowing due to recent developments in the technologies used for diagnosis, care planning, provision of medication, and patient compliance confirmation.
Radiotherapy Market - By Region
Regionally, North America is projected to be the leading market in 2019 in the global radiotherapy market, while Asia-Pacific is anticipated to rise at the highest rate during the forecast period from 2020 to 2025. The growing number of cancer patients in the Asia-Pacific region is predicted to drive the radiotherapy market in this region.
TOP COMPANIES IN THE MARKET
List of key market players dominating the global radiotherapy market profiled in this report 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).
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Type
5.1.1 External Beam Radiation Therapy
5.1.1.1 Intensity-Modulated Radiation Therapy (IMRT)
5.1.1.2 Image-Guided Radiation Therapy (IGRT)
5.1.1.3 Tomotherapy
5.1.1.4 Stereotactic Radiosurgery
5.1.1.5 Stereotactic body Radiation Therapy
5.1.1.6 Proton Therapy
5.1.2 Internal Beam Radiation Therapy
5.1.3 Systemic Radiation Therapy
5.2 By Application
5.2.1 Skin & Lip Cancer
5.2.2 Head & Neck Cancer
5.2.3 Breast Cancer
5.2.4 Prostate Cancer
5.2.5 Cervical Cancer
5.2.6 Lung Cancer
5.2.7 Spine Cancer
5.3 By Equipment Type
5.3.1 Linear Accelerators
5.3.2 Radiation Therapy Simulators
5.3.3 Treatment Planning Systems
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.3.6 Australia
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Mexico
6.4.4 Argentina
6.4.5 Rest of Latin America
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Pipeline Product Analysis
7.1 Overview
7.2 Pipeline Development Landscape
7.3 Molecular Targets in the Pipeline
7.4 Clinical Trials
7.4.1 Failure Rate by Stage of Development, Indication, Molecule Type and Molecular Target
7.4.2 Clinical Trial Duration by Stage of Development, Indication, Molecule Type and Molecular Target
7.4.3 Clinical Trial Size by Stage of Development, Indication, Molecule Type and Molecular Target.
8. Strategic Analysis
8.1 PESTLE analysis
8.1.1 Political
8.1.2 Economic
8.1.3 Social
8.1.4 Technological
8.1.5 Legal
8.1.6 Environmental
8.2 Porter’s Five analysis
8.2.1 Bargaining Power of Suppliers
8.2.2 Bargaining Power of Consumers
8.2.3 Threat of New Entrants
8.2.4 Threat of Substitute Products and Services
8.2.5 Competitive Rivalry within the Industry
9. Market Leaders' Analysis
9.1 Nordion Inc.
9.1.1 Overview
9.1.2 Product Analysis
9.1.3 Strategic Evaluation and Operations
9.1.4 Financial analysis
9.1.5 Legal issues
9.1.6 Recent Developments
9.1.7 SWOT analysis
9.1.8 Analyst View
9.2 RaySearch Laboratories AB
9.3 Ion Beam Applications SA
9.4 C. R. Bard Inc.
9.5 Mevion Medical Systems Inc.
9.6 Varian Medical Systems Inc.
9.7 IsoRay Medical Inc.
9.8 Elekta AB
9.9 Accuray Incorporated
9.10 Mitsubishi Electric Corporation
10. Competitive Landscape
10.1 Market share analysis
10.2 Merger and Acquisition Analysis
10.3 Agreements, collaborations and Joint Ventures
10.4 New Product Launches
11. Expert Opinions
11.1 Market Outlook
11.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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