The global radiation therapy market is expected to reach US$12.44 billion in 2026, witnessing growth at a CAGR of 6.75%, over the period 2022-2026. Factors such as surging incidence of cancer cases, rising healthcare expenditure, upsurge in economic growth, growing aging population and expanding urbanization are expected to drive the market. The growth of the market would be challenged by severe side effects of the therapy and stringent regulations and barriers to implementation. A few notable trends may include increasing public awareness, rising preference towards non invasive procedures and advancements in technology.
The global radiation therapy market can be categorized into external beam radiation therapy, internal beam radiation therapy and others (systemic radiotherapy) on the basis of type. Further, the external beam radiation therapy market is segmented on the basis of type and devices. Depending upon the type, the global external beam radiation therapy market can be categorized into following categories: Intensity-Modulated Radiation Therapy (IMRT), Image-Guided Radiation Therapy (IGRT), Tomotherapy, Stereotactic Radiosurgery, Stereotactic Body Radiation Therapy and Proton Therapy. Whereas, on the basis of devices, the global external beam radiation therapy market can be segmented into three categories, named as, LINAC (Linear Accelerators), proton beam therapy devices and compact advanced therapy devices.
The fastest growing regional market is North America due to continuous inclination to the usage of novel technologies, rising disposable income and healthcare expenditure in the region and rising awareness about procedures and sophisticated diagnostic techniques. Europe represents the second largest radiation therapy market and is already well-penetrated at developed market levels. The market for radiation oncology has been negatively impacted due to the COVID-19 pandemic. Hospitals delayed the purchase of capital equipment and redirected the resources towards the treatment of COVID-19.
Scope of the report:
• The report provides a comprehensive analysis of the global radiation therapy market segmented on the basis of type.
• The major regional and country markets (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Ion Beam Applications SA, Siemens Healthineers AG, Accuray Inc., Elekta AB, ViewRay, Inc. and Hitachi Ltd.) are also presented in detail.
Key Target Audience:
• Radiation Therapy Equipment Manufacturers
• Radiation Therapy Service/Equipment Providers and Distributors
• End Users (Hospitals, Cancer Research Institutes and Ambulatory & Radiotherapy Centers)
• Government Bodies & Regulating Authorities