Global Radiotherapy Market

Radiotherapy Market Size, Share, Growth Analysis, By Technology(External Beam Radiotherapy and Internal Beam Radiotherapy), By End-User(Hospitals and Independent Radiotherapy Centers), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35D2187 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 59 | Figures: 75

Radiotherapy Market Insights

Radiotherapy Market size was valued at USD 7.7 billion in 2021 and is poised to grow from USD 8.56 billion in 2022 to USD 24.57 billion by 2030, growing at a CAGR of 12.3% during the forecast period (2023-2030).

The global radiotherapy market is a rapidly expanding sector in the healthcare industry that focuses on utilizing radiation to treat various forms of cancer. Radiotherapy, also known as radiation therapy, involves the precise delivery of high-energy radiation to cancerous cells to eliminate them or hinder their growth. The demand for radiotherapy has been steadily increasing on a global scale due to several key factors. Firstly, there has been a rise in cancer prevalence worldwide, which has led to a greater demand for effective treatment options. According to the World Health Organization (WHO), cancer is one of the leading causes of mortality globally, and the number of new cases is projected to continue increasing. Secondly, advancements in technology and medical devices have significantly enhanced the precision and efficacy of radiotherapy. Innovative techniques such as intensity-modulated radiation therapy (IMRT), stereotactic radiosurgery (SRS), and proton therapy have allowed for more targeted delivery of treatment, minimizing damage to healthy tissues and reducing side effects for patients. While the global market presents promising opportunities, it also faces certain challenges. These include the high cost of equipment, limited accessibility in certain regions, and potential side effects associated with radiation therapy. Nonetheless, ongoing research and development endeavors aim to address these challenges and enhance the overall efficacy and safety of radiotherapy. In conclusion, the global radiotherapy market is witnessing substantial growth driven by factors such as the rising incidence of cancer, technological advancements, increased awareness, and favorable reimbursement policies. As the field continues to evolve, radiotherapy is poised to play a vital role in cancer treatment and contribute to improved patient outcomes worldwide.

US Radiotherapy Market is poised to grow at a sustainable CAGR for the next forecast year.

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Radiotherapy Market size was valued at USD 7.7 billion in 2021 and is poised to grow from USD 8.56 billion in 2022 to USD 24.57 billion by 2030, growing at a CAGR of 12.3% during the forecast period (2023-2030).

The competitive landscape for the radiotherapy market gives information by competitors. The company's financials, revenue generated, market potential, investment in R&D, new market initiatives, presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance are among the details that are included. The data points mentioned above only pertain to the companies' market focus on radiotherapy. 'Varian Medical Systems, Inc. (U.S.)', 'Mevion Medical Systems (U.S.)', 'ViewRay Technologies, Inc. ("ViewRay") (U.S.)', 'Siemens Healthcare GmbH (Germany)', 'Accuray Incorporated (U.S.)', 'IBA Worldwide (Belgium)', 'Eckert & Ziegler (Germany)', 'Koninklijke Philips N.V. (Netherlands)', 'General Electric (U.S.)', 'Hitachi, Ltd. (Japan)', 'Advanced Accelerator Applications (France)', 'CIVCO Medical Solutions (U.S.)', 'Isoray Inc. (U.S.)', 'Elekta AB (Sweden)', 'Panacea Medical Technologies Pvt. Ltd. (India)', 'Optivus Proton Therapy, Inc. (U.S.)', 'P-Cure, Ltd. (Israel)', 'Nordion, Inc. (Canada)', 'NTP Radioisotopes SOC Ltd. (South Africa)', 'Curium (France)'

Due to its growing use in the treatment of various cancers, including those of the lung, prostate, breast, colon, liver, thyroid, lymphoma, brain, and spine, external-beam radiation therapy is in extremely high demand. One of the radiation therapy types most frequently used to treat cancer is external-beam radiation therapy. It draws in the high-energy external radiation into the tumour. As a result, this component spurs market expansion.

The radiotherapy market is experiencing notable trends that are shaping its growth and development. One key trend is the increasing adoption of advanced technologies, such as IMRT, IGRT, and proton therapy. These advancements allow for more precise and targeted treatment delivery, leading to improved outcomes and reduced side effects.

North America dominates the Radiotherapy market. The region holds a market share revenue of 44.6%. This can be attributed to factors such as well-established healthcare infrastructure, high healthcare expenditure, and early adoption of advanced technologies. The region has a strong presence of key market players, along with a favorable reimbursement environment, which further contributes to its dominance in the market.

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Global Radiotherapy Market

Report ID: SQMIG35D2187