Radiotherapy uses high-energy radiation, such as x-rays, gamma rays, and charged particles, to damage cancer cells' DNA and control tumor growth. Radiotherapy employs CT scanners, linacs, treatment planning systems, and other equipment to precisely target tumors while minimizing dose to surrounding normal tissue. The global Radiotherapy Market is estimated to be valued at US$ 7,078.91 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand for non-invasive cancer treatment procedures has been a major driver for the radiotherapy market over the recent past. Radiotherapy offers an alternative to invasive surgical procedures and is often used in combination with or in place of chemotherapy for cancer treatment. It allows to precisely target tumors without extensive surgery. Technological advancements have allowed developing more focused radiation treatments like IGRT, IMRT and VMAT that can target tumors with greater accuracy while minimizing side effects on surrounding healthy tissue. This has increased adoption of radiotherapy and fueled market growth. Widespread availability of advanced radiotherapy technologies in developed regions and rising awareness in developing nations will continue driving the demand over the forecast period.
Segment Analysis
The global radiotherapy market is segmented into product type, application, end-user, and region. By product type, the linear accelerators segment is expected to dominate the market during the forecast period. Linear accelerators are widely used radiotherapy equipment as they allow controlling the shape and dose of the radiation beam during treatment to conform to the shape of the tumor.
Key Takeaways
The global radiotherapy market is expected to witness high growth during the forecast period. By 2030, the market size is projected to reach nearly US$ 14,000 Mn.
Regional analysis: The market in North America is currently the largest and is expected to remain dominant during the forecast period. Significant investments in upgrading radiotherapy equipment and high adoption rate of advanced technologies drive the North America radiotherapy market. The Asia Pacific region is expected to grow at the fastest pace over the coming years. Rising cancer incidence, increasing healthcare expenditure, and growing awareness about radiotherapy are fueling the radiotherapy market growth in the Asia Pacific region.
Key players: Key players operating in the radiotherapy market are Accuray Incorporated, Elekta, Isoray Inc., CIVCO, Hitachi, Ltd., Mevion Medical Systems, ProTom International, VIEWRAY TECHNOLOGIES, INC., Panacea Medical Technologies Pvt. Ltd., Optivus Proton Therapy, Inc., RefleXion, MacroMedics, Vision RT Ltd., and Qfix. Accuray Incorporated and Elekta currently dominate the global radiotherapy market.
