Global Radiotherapy Market is expected to reach USD 9.3 billion by 2024 from USD 5.3 billion in 2016, at a CAGR of 7.5% in the forecast period 2017 to 2024.The new market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
There has been rapid development in the radiosurgery field in recent years, owing to increased threat of multiple cancers and mortality. This has allowed pulling in large government and healthcare manufacturers funding’s in research labs developing treatment and preventive techniques against cancer.
The Elekta gamma knife has completed more than 1 million surgeries as announced by Elekta in May 2016. This shows the demand of radiotherapy products, and the requirement of disruptive technologies to change to modern day radiotherapy. According to Hospital Cost and Utilization Project (HCUP) the number of radiotherapy procedures is increasing in U.S. by 2.0% every year.
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The global radiotherapy market is segmented based on therapy, product, application and geography.
- Based on the therapy, the radiotherapy market is segmented into external beam radiotherapy, internal beam radiotherapy, and systemic radiation therapy.
- On the basis of radiations delivered, the external beam radiotherapy is sub segmented into intensity-modulated radiation therapy (IMRT), image guided radiotherapy (IGRT), tomotherapy, stereotactic technology, 3D conformal radiotherapy, proton beam therapy, and volumetric modulated arc therapy (VMAT). The IGRT segment is expected to account for the largest share of the external beam radiotherapy market, whereas the VMAT segment is poised to witness the highest growth.
- Based on the delivery of dose-rate, the internal beam therapy is divided into low (LDR) and high-dose rate (HDR). The LDR segment is expected to account for the largest share of the internal radiotherapy/brachytherapy market, whereas the HDR segment is poised to witness the highest growth.
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- Based on product type the global radiotherapy market is segmented into EBRT equipment’s, and IBRT equipment’s. The External Beam Radiotherapy (EBRT) products are further segmented into cyberknife, gammaknife, LINAC, Proton Beam (Cyclotron, Synclotron). The Internal Beam Radiotherapy (IBRT) is segmented into seeds, afterloaders and others.
- Based on indication into cancer of different organs, The global radiotherapy market is also segmented such as brain tumor, spine cancer, lung cancer, liver cancer, breast cancer, prostate cancer and others.
- Based on geography the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and rest of the world.
Global Radiotherapy Market globally Varian Medical Systems, Inc. dominated the radiotherapy market accounting for a market share in 2016. The market is highly fragmented based on technologies offered by different manufacturers are different. The major players are concentrating on product development and strategic mergers with healthcare payers and providers to penetrate the market.
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The major players in the global radiotherapy market are :
- Elekta AB,
- Accuray Inc.
- CIVCO Medical Solutions
- Brainlab AG
- C. R. Bard Inc.
- IsoRay Medical, Inc.
- Nordion Inc.
- RaySearch Laboratories AB
- PRECISIS AG
- Mevion Medical Systems, Inc.
- Technicas Radiofiscas S.L.
- Hitachi Ltd.
- Sumitomo Heavy Industries, Ltd.
- Mitsubishi Electric Corporation
- ProNova Solutions LLC
- ProTom International
- Among others.
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