Radiotherapy Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos

 

Radiotherapy is commonly used for treating cancer by using high radiation doses for killing various cancer cells and shrinking tumors. Cancer is one of the leading life-threatening diseases across the world. The surge in the number of people suffering from cancer has always been the major driving factor for the radiation therapy market. For instance, as per the world health organization, cancer is the second leading cause of death all over the globe and was responsible for an estimated 9.6 million deaths in 2018. Globally, about 1 in 6 deaths are due to cancer. Approximately 70% of deaths from cancer occur in low and middle-income countries.  

The Radiotherapy Market is expected to grow at a steady rate of around 6% during the forecast period. Factors such as increasing government initiatives to raise awareness regarding the treatment options available and growing demand for sophisticated therapies to cure diseases like cancer are some of the prominent factors contributing to the growth of the market.  

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Based on application, the radiotherapy market is classified into prostate cancer, breast cancer, lung cancer, cervical cancer, spine cancer, head & neck cancer, and others. In 2020, the breast cancer segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period owing to the rise in incidences of this type of cancer. For instance, according to the World Health Organization, in 2020, nearly 2.26 million cases of breast cancer alone.

Based on the end-users, the market is fragmented into hospitals, radiation therapy centers, and others. In 2020, the hospital segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. The growth of this segment is attributed to the growing number of private hospitals in various emerging economies and better accessibility of healthcare services at hospitals leading to a rise in the preference of patients to avail treatment in hospitals. 

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North America to witness extensive growth

For a better understanding of the market adoption of the radiotherapy industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. The major factors such as favorable government initiatives, increased investments in research and development for radiotherapy coupled with technological advancements, the rapid increase in the geriatric population, and the rising number of cancer incidences are propelling the growth of this market in the region. For instance, the number of Americans aged 60 and older increased by 34% from 55.7 million to 74.6 million between 2009 and 2019.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Radiotherapy market are Siemens Healthineers AG, Accuray Incorporated, Elekta AB, Becton, Dickinson and Company, ViewRay Technologies Inc., Hitachi Ltd., IsoRay Inc., ZEISS Group, Mevion Medical Systems Inc., Panacea Medical Technologies Pvt. Ltd.

“Global Radiotherapy Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.        

Market Segmentation:

1.      By Technology (External Beam Radiotherapy, Internal Beam Radiotherapy, and Systemic Radiotherapy)

2.      By Application (Prostate Cancer, Breast Cancer, Lung Cancer, Cervical Cancer, Spine Cancer, Head & Neck Cancer, and Others)

3.      By End-Users (Hospitals, Radiation Therapy Centers, and Others)

4.      By Region (North America, Europe, Asia-Pacific, Rest of the World)

5.      By Company (Siemens Healthineers AG, Accuray Incorporated, Elekta AB, Becton, Dickinson and Company, ViewRay Technologies Inc., Hitachi Ltd., IsoRay Inc., ZEISS Group, Mevion Medical Systems Inc., Panacea Medical Technologies Pvt. Ltd.)

Key questions answered in the study:

1.      What are the current and future trends of the global radiotherapy industry?

2.      How the industry has been evolving in terms of technology, application, and end-users?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global radiotherapy industry?

5.      What is the customer orientation, purchase behavior, and expectations from the global radiotherapy suppliers across various region and countries?