Global Radiotherapy Market - Company Profiles, Market Dynamics, Trends & Recent Developments - Forecasts to 2030 - ResearchAndMarkets.com

The "Radiotherapy Market (By Technology, Procedure, Application, End User, Country Analysis), Company Profiles, Market Dynamics, Trends & Recent Developments - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The global radiotherapy market was valued at US$ 6.67 Billion in 2023, and is predicted to reach US$ 10.27 Billion by 2030.

The growth of the radiotherapy market is driven by several factors such as the rising cancer incidence, technological advancements, increasing awareness about the benefits of radiotherapy, rising healthcare expenditure, and growing use of particle therapy for cancer treatment. According to GLOBOCAN 2022, 19.98 million people were diagnosed with cancer in 2022. This number is expected to rise to 24.11 million by 2030, and 30.97 million by 2045.

To address the growing cancer burden, numerous cancer research organizations are actively adopting innovative strategies and patient-centered approaches for early diagnosis and treatment of cancer. Radiotherapy remains an important component of cancer treatment with over 50% of all cancer patients receiving radiation therapy during their course of illness. Therefore, the adoption of radiotherapy is rising as it helps to control cancer growth and prevents the cell from spreading.

Furthermore, radiotherapy industry is undergoing a technology-driven revolution. The incorporation of cutting-edge technology, such as precision treatment delivery systems including intensity modulated radiation therapy (IMRT), image-guided radiotherapy (IGRT), stereotactic body radiation therapy (SBRT) delivering precise dose of radiation to cancer cell, the development of MRI LINAC providing real time imaging during treatment, utilization of AI for treatment planning to analysis are playing a significant role in optimizing the radiotherapy treatment process.

Such technological advancements focus on improving the functionality of radiotherapy delivery systems and expanding their application areas. The growing adoption of these advanced radiotherapy systems among cancer treatment centers are likely to drive the growth of the radiotherapy market over the forecast period.

Recent Developments

• In May 2024, Elekta AB announced the launch of its latest linear accelerator (linac), Evo, a CT-Linac with new high-definition AI enhanced imaging, capable of delivering offline and online adaptive radiation therapy as well as improved standard image-guided radiation therapy treatments.
• In March 2024, RefleXion Medical, Inc., a therapeutic oncology company, and Limbus AI, Inc., a provider of software solutions for cancer radiation therapy, announced a licensing agreement to incorporate Limbus' automated contouring software, Limbus Contour, into the RefleXion X1 radiotherapy treatment planning system.
• In February 2024, Varian, a Siemens Healthineers company, received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for TrueBeam and Edge radiotherapy systems featuring HyperSight imaging solution.
• In November 2023, Toshiba Energy Systems & Solutions Corporation signed a business alliance agreement with China-based Ion Nova (Shanghai) Medical Technology Co., Ltd. for the sales of heavy ion therapy equipment in China.

By Type/Technology: Global Radiotherapy Market - Key Takeaways

• Based on technology, the external beam radiotherapy (EBRT) segment dominated the global radiotherapy market, and this trend is expected to continue over the forecast period. External beam radiotherapy is a widely and well-established cancer treatment modality. EBRT has high ability to kill tumor in the early phases as compared to conventional therapies with less side effects. The demand for compact advanced radiotherapy systems such as CyberKnife, Gamma Knife, and TomoTherapy have witnessed significant growth in recent years. The market is primarily driven by the increasing prevalence of cancer, technological advancements in radiation therapy, and growing demand for minimally invasive treatment options.
• The internal beam radiotherapy also known as brachytherapy involves the implantation of radioactive sources directly into or near the tumor site. It allows for precise and targeted radiation delivery while minimizing radiation exposure to surrounding healthy tissues. The growing awareness of its benefits, advancements in imaging and treatment planning, and improved techniques have contributed to the rapid growth of internal beam radiotherapy.
• The seeds dominated the global internal beam radiotherapy/brachytherapy market. Brachytherapy seeds are used in the treatment of various cancers, including prostate, breast, lung, gynecological, and head & neck cancers. The versatility of seeds in different tumor types contributes to their widespread adoption and market dominance.
• The systemic radiotherapy is the fastest growing segment of the global radiotherapy market. Systemic therapies are normally used when the cancer has spread beyond a confined area or when someone has high-risk localized disease. Systemic radiotherapy is an effective treatment for cancers of the bone, prostate, and thyroid, among others.

By Procedure: Global Radiotherapy Market - Key Takeaways

• Based on procedure, the external beam radiotherapy (EBRT) segment dominated the overall market with largest share of 61% in 2023 due to increased adoption in treatment of various types of cancers. With the global incidence of cancer on the rise, the demand for effective treatments like EBRT is escalating. Heightened awareness and improved cancer detection methods have further fueled this demand, especially given EBRT's common use in early-stage treatments.
• Image-guided radiotherapy (IGRT) is a highly advanced form of radiation therapy that utilizes real-time imaging techniques to precisely target and deliver therapeutic radiation to tumors while minimizing exposure to surrounding healthy tissues. IGRT also plays a crucial role in adaptive radiotherapy (ART), where treatment plans are adjusted based on changes in tumor size, shape, or position over the course of treatment.
• Particle therapy is the fastest growing segment in the external beam radiotherapy market. It offers a multitude of advantages that serve as powerful growth drivers for its widespread adoption. One of the foremost drivers is its precision in targeting cancerous tissues. This precise targeting minimizes damage to surrounding healthy tissues, thereby reducing adverse effects, and enhancing patient quality of life.
• The high-dose rate (HDR) brachytherapy segment dominated the market and accounted for the largest revenue share in 2023. Eckert & Ziegler BEBIG, Varian Medical Systems, and ELEKTA AB are some of the prominent companies in the HDR brachytherapy industry. In May 2023, Varian Medical Systems announced the launch of its new brachytherapy system, the TrueBeam STx. The TrueBeam STx is a high-dose-rate (HDR) brachytherapy system that uses a linear accelerator to deliver high doses of radiation to tumors.
• The low-dose rate (LDR) brachytherapy provides continuous low-dose radiation over an extended period. This gradual delivery of radiation helps in effectively treating certain types of cancer, such as prostate cancer, while minimizing damage to surrounding healthy tissues.

By Application: Global Radiotherapy Market - Key Takeaways

• Based on application, the breast cancer dominated the global radiotherapy market, driven by the global surge in breast cancer cases underscoring the pressing need for effective treatments like radiotherapy.
• The prostate cancer application segment captured second highest share of the global radiotherapy market in 2023. Radiotherapy is a highly effective treatment for prostate cancer, with success rates ranging from 80%-90%.
• The rapid rise in lung cancer prevalence, coupled with a rising count of patients opting for radiotherapy, is expected to drive growth in this segment.

By End User: Global Radiotherapy Market - Key Takeaways

• Based on end-user, the global radiotherapy market is dominated by hospitals segment. The availability of advanced medical technologies and skilled radiation oncologists is what prompts cancer patients to choose hospitals for their radiotherapy procedures.
• The oncology clinics segment is likely to capture 29% share of the global radiotherapy market by 2030. The oncology clinics segment is rapidly opting advanced radiotherapy devices to provide advanced and effective patient care. This allows them to offer streamlined and efficient services, often with shorter wait times for patients. Additionally, oncology clinics may be more flexible in terms of scheduling appointments and providing personalized care.
• The demand for ambulatory radiotherapy centers is driven by an increasing preference for outpatient care settings, which offer cost-efficiency, convenience, and reduced patient burden compared to in-hospital treatments.

Key Topics Covered:

1. Introduction

2. Executive Summary

3. Global Radiotherapy Market and Forecast (2018 - 2030)

4. Global Radiotherapy Market Share and Forecast (2018 - 2030)

4.1 By Type/Technology - Global Radiotherapy Market Share and Forecast

4.2 By Segment - Global External Beam Radiotherapy Market Share and Forecast

4.3 By Segment - Global Internal Beam Radiotherapy/Brachytherapy Market Share and Forecast

4.4 By Procedure - Global Radiotherapy Market Share and Forecast

4.5 By Procedure - Global External Beam Radiotherapy Market Share and Forecast

4.6 By Procedure - Global Internal Beam Radiotherapy/Brachytherapy Market Share and Forecast

4.7 By Application - Global Radiotherapy Market Share and Forecast

4.8 By End User - Global Radiotherapy Market Share and Forecast

4.9 By Region - Global Radiotherapy Market Share and Forecast

5. By Type/Technology - Global Radiotherapy Market and Forecast (2018 - 2030)

5.1 External Beam Radiotherapy Market and Forecast

5.2 Internal Beam Radiotherapy/Brachytherapy Market and Forecast

5.3 Systemic Radiotherapy Market and Forecast

6. By Procedure - Global Radiotherapy Market and Forecast (2018 - 2030)

6.1 External Beam Radiotherapy Market and Forecast

6.2 Internal Beam Radiotherapy/Brachytherapy Market and Forecast

6.3 Systemic Radiotherapy Market and Forecast

7. By Application - Global Radiotherapy Market and Forecast (2018 - 2030)

7.1 Breast Cancer Market and Forecast

7.2 Prostate Cancer Market and Forecast

7.3 Lung Cancer Market and Forecast

7.4 Colorectal Cancer Market and Forecast

7.5 Cervical Cancer Market and Forecast

7.6 Others Market and Forecast

8. By End User - Global Radiotherapy Market and Forecast (2018 - 2030)

8.1 Hospitals Market and Forecast

8.2 Oncology Clinics Market and Forecast

8.3 Ambulatory Radiotherapy Centers Market and Forecast

8.4 Other End-Users Market and Forecast

9. By Region - Global Radiotherapy Market and Forecast (2018 - 2030)

10. Global Radiotherapy Market - Key Company Profiles

• Accuray
• Brainlab
• Canon Medical Systems
• CQ MEDICAL (Formerly CIVCO Radiotherapy and Qfix)
• Elekta
• Eckert & Ziegler
• GE HealthCare
• Hitachi High-Tech
• Ion Beam Applications (IBA)
• IntraOp Medical
• Koninklijke Philips
• Mevion Medical Systems
• Nordion
• NTP Radioisotopes SOC
• Optivus Proton Therapy
• Panacea Medical Technologies
• P-Cure Ltd.
• Perspective Therapeutics (Formerly Isoray, Inc.)
• Provision Healthcare
• ProTom International
• RaySearch Laboratories
• RefleXion Medical
• Sumitomo Heavy Industries
• Theragenics
• Toshiba Energy Systems & Solutions
• Varian Medical Systems
• ViewRay

11. Global Radiotherapy Market - Market Dynamics

11.1 SWOT Analysis

11.2 Porter's Five Forces Framework

11.3 Key Trends

11.4 Growth Drivers

11.5 Challenges

For more information about this report visit https://www.researchandmarkets.com/r/cq81qy

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