Radiotherapy Market - Global Industry, Analysis, Size, Share, Trends, and Forecasts 2020 - 2030

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Radiotherapy Market - Global Industry, Analysis, Size, Share, Trends, and Forecasts 2020 - 2030

Status : December, 2022 | Medical Devices

Report Digest

The increasing prevalence of cancer cases and the advent of the latest technology to combat various cancer types emerge as a prime factor augmenting the growth of the global radiotherapy market. Radiotherapy can be utilized to fix malignancy, decrease the opportunity of disease returning, or assist with alleviating manifestations. One can perform radiotherapy without help from anyone else or with different medicines, like chemotherapy or medical procedure.

The global radiotherapy market is classified based on product, application, procedure, end-user, and region. In terms of product, the market is grouped into external beam radiotherapy, electron-emitting high-energy linear accelerators, conventional linear accelerators, stereotactic advanced electron/cobalt-60 linear accelerators, conventional cobalt-60 teletherapy units, particle therapy systems, internal beam radiotherapy/ brachytherapy, systematic radiotherapy. Some of these are further categorized accordingly. In terms of application, the market is grouped into the internal beam, external beam, each of which is again categorized further. With respect to procedure, the market is again classified into internal beam radiotherapy, external beam, oral radiotherapy, installation radiotherapy, intravenous radiotherapy, and systematic radiotherapy. The end-user segment is bifurcated into independent radiotherapy centers and hospitals.

This report is based on a qualitative and quantitative analysis of the global radiotherapy market and emphasizes the key growth prospects such as driving factors, repelling factors, recent trends, and innovations. Besides this, the report also discusses the table of segmentation in detail and lists the names of the leading segment with its attributed factors. Moreover, the report emphasizes the impact of the COVID19 pandemic on this market and how can manufacturers generate notable revenues for the market despite such a serious epidemic. The report is available for sale on the company website.

Radiotherapy Market: Company Profile

Radiotherapy market manufacturers are investing heavily in advanced radiotherapy to broaden their portfolio on the one side and earn revenues on the other. Besides this, some players are also indulging in getting regulatory approvals from Food and Drug Administration to gain a stronger foothold in the overall market competition.

Some of the key players of the global radiotherapy market include:

  • Varian Medical Systems Inc.
  • Accuray Incorporated
  • Ion Beam Applications SA
  • Eckert & Ziegler
  • IntraOp Medical Inc.
  • Panacea Medical Technologies Pvt. Ltd.
  • Hitachi Ltd
  • IsoRay Medical Systems Inc.
  • P-cure Ltd.
  • ZEISS Group
  • Others

Radiotherapy Market: Notable Developments

  • A new device for real-time AI-driven motion tracking, and advanced precision called CyberKnife S7 System was launched in June 2020 by Accuray Incorporated. This is a synchronization treatment delivery system suitable for all stereotactic body radiation therapy and radiosurgery treatments.
  • The first  CE-marked gynecological applicator for brachytherapy was launched by Elekta AB in April 2020.

Radiotherapy Market: Factors Boosting Growth

The increasing number of research and development on cancer diagnostics and therapeutic procedures are projected to be the key factors augmenting the growth of the global radiotherapy market. Technological advancements in medical therapy and cancer cure prospective studies are also adding a boost to the overall growth of the market. Besides this, the increasing expansion of the target patient population is also projected to emerge as a growth booster. Besides this, the increasing focus of government and private medical organizations towards spreading awareness is further expected to create lucrative growth opportunities for the overall market in the coming years.

Radiotherapy Market: Demographical Insights

Region-wise, the global radiotherapy market is dominated by North America on account of the presence of well-established healthcare and medical sector. Besides this, the presence of top players and their headquarters in this region will also add impetus to the regional growth of this market. Additionally, the rising number of research and development on cancer treatment and increasing government support in the form of medical insurances will further help North America continue dominating the market in the long run.

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5-Point Growth Formula

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The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

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Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?