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Rapid advancements in Radiotherapy Techniques to fuel Growth of Radiotherapy Market

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Rapid advancements in Radiotherapy Techniques to fuel Growth of Radiotherapy Market

August 17
00:04 2021
Rapid advancements in Radiotherapy Techniques to fuel Growth of Radiotherapy Market
Increasing prevalence of cancer and increasing use of proton therapy for cancer treatment are some key factors driving market revenue growth

Radiotherapy, or radiation therapy, is a treatment for cancer that utilizes high doses of radiation to eliminate or destroy cancer cells and shrink tumors without causing extensive damage to surrounding healthy tissues. It utilizes particles or waves having high energy that include X-rays, gamma rays, or electron beams to destroy cancer cells. Radiation therapy depends on many factors such as type of cancer, tumor size, tumor location in the body, overall medical history of the patient, and other underlying medical conditions.

Rapid technological advancements to improve precision of radiotherapy and increasing adoption of radiotherapy to treat and alleviate symptoms of various types of cancer have significantly fueled the revenue growth of the market over the recent past. Increasing expenditure on developing healthcare facilities in countries such as China, Brazil, and India has also positively impacted the revenue growth of the radiotherapy market. Increasing advancements in engineering and computing and advent of real-time imaging of tumor are expected to further fuel market growth going ahead.  

Targeted radionuclide therapy or molecular therapy is a type of systemic radiation therapy that entails use of a minute amount of radioactive compounds or radiopharmaceuticals to diagnose patients with advanced prostate cancer, ovarian cancer, or Gastroenteropancreatic Neuroendocrine Tumor (GEP-NET). Increasing number of research studies focusing on the efficacy of targeted nuclide therapy in treatment of advanced prostate cancer and metastatic liver disease is also expected to fuel revenue growth of the market over the forecast period. However, availability of alternative treatment approaches is expected to restrain radiotherapy market growth to a certain extent over the forecast period.

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Some Key Highlights From the Report:

  • In October 2020, C4 Imaging LLC announced that it has received 510(k) clearance from U.S. Food and Drug Administration (FDA) for its multimodality C4 Fiducial Marker. The positive signal MRI marker is developed to reduce margins of error or uncertainty during radiotherapy procedure and minimize the risk of side effects
  • External beam therapy segment is expected to account for largest revenue share during the forecast period, attributable to increasing use of intensity modulated radiation therapy and image guided radiation therapy procedures for detecting exact tumor size and location to target tumors with higher accuracy and precision.
  • Hospitals segment is expected to lead in terms of revenue share over the forecast period, attributed to increasing number of radiotherapy procedures performed in hospitals to treat cancer and rising investment for facilitating installation of technologically advanced radiotherapy systems.
  • Prostate cancer segment is expected to register robust revenue growth over the forecast period owing to increasing prevalence of prostate cancer and rising utilization of external beam therapy and internal beam therapy treatment procedures for destroying prostate cancer cells, limiting and controlling growth, and minimizing risk of radiation exposure to healthy tissues
  • North America is expected to account for largest revenue share over the forecast period, attributable to increasing prevalence of cancer and rising investment in R&D activities for facilitating development of radiotherapy solutions for more effective cancer treatment.
  • Major players in the market include GE Healthcare Inc., Siemens Healthineers AG, Canon Medical Systems Corporation, Isoray Medical, Inc., Varian Medical Systems Inc., C4 Imaging LLC, Eckert & Zeigler AG, Hitachi Ltd., Optivus Proton Therapy Inc., and Mevion Medical Systems Inc.

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For the purpose of this report, Reports and Data has segmented the global radiotherapy market on the basis of type, application, end-use, and region:

Type Outlook (Revenue, USD Billion; 2018-2028)

  • External Beam Radiotherapy
    • 3-D Conformal Radiation Therapy
    •  Intensity-Modulated Radiation Therapy (IMRT)
    •  Image-Guided Radiation Therapy (IGRT)
    •  Temotherapy
    •  Stereotactic Radiosurgery
    • Others
  • Internal Beam Radiotherapy/Brachytherapy
  • Systematic Radiotherapy

 Application Outlook (Revenue, USD Billion; 2018-2028)

  • Breast Cancer
  • Prostate Cancer
  • Lung Cancer
  • Colorectal Cancer
  • Skin Cancer
  • Cervical Cancer
  • Others 

End-Use Outlook (Revenue, USD Billion; 2018-2028)

  • Hospitals
  •  Ambulatory & Radiotherapy Centers
  •  Academic & Research Institutes
  •  Others

Regional Outlook (Revenue, USD Billion; 2018–2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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