Market research future has a half cooked research report on Radiotherapy Market Research Report - Global Forecast till 2025. The global radiotherapy market is growing at very significant rate and is expected show the similar trend during forecast period.

Radiotherapy Market Insight

The global radiotherapy market is expected to exhibit a strong 7% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global radiotherapy market is profiled in the report with the help of historical statistics revealing the historical growth trajectory of the market. The trajectory exhibited by the market in reaching its current position is analyzed in detail in the report in order to reveal major trends influencing the market’s growth. These trends, including the major drivers and restraints for the market as well as economic factors playing a role in the development of the market, are profiled in detail in the report.

Radiotherapy is a nuclear medicine technique used for various purposes, including X-rays and cancer treatment. The growing demand for radiotherapy in cancer treatment is the major driver for the global radiotherapy market. Radiotherapy eliminates cancer cells by dosing them with radiation. This is one of the most effective ways to treat cancer, along with surgery and chemotherapy. The high efficacy of radiotherapy in treating cancer and eliminating tumors has resulted in a growing demand from the radiotherapy market. About 4 in 10 people undergoing cancer treatment are treated with radiotherapy. The growing prevalence of cancer and the rising awareness about the same is likely to be a major driver for the global radiotherapy market over the forecast period. 

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The growing demand for X-ray imaging in the healthcare sector is also likely to be a major driver for the global radiotherapy market over the forecast period. X-ray imaging is widely used in diagnosing fractures and various other medical conditions, leading to widespread usage in the healthcare sector. The growing healthcare sector in developing regions such as China is likely to be a major driver for the radiotherapy market over the forecast period.

Competitive Analysis:

Leading players in the global radiotherapy market include Hologic, Shimadzu Corporation, Philips Healthcare, Fuji Holdings, ViewRay, Isoray, Nordion, Cardinal Health, Varian, Siemens, and GE Healthcare. Leading players in the global radiotherapy market are likely to focus on inorganic expansion in the coming years by acquiring promising startups and small companies in the healthcare sector that specialize in the development of tools and technologies that can complement radiotherapy. Developing more effective radiotherapy devices while minimizing the negative side effects of radiotherapy, such as nausea and hair loss, is likely to be a promising development avenue for players in the global radiotherapy market. Increasing the precision of radiotherapy devices so that they act on tumor cells without hurting any of the healthy cells in the vicinity is likely to be a major development target for players in the radiotherapy market.

In September 2019, Varian won an exclusion for its Chinese radiotherapy components from the latest tariffs announced by the U.S. The escalating tariff war between the U.S. and China could become a key factor for the global radiotherapy market in the coming years, as medical devices and components comprise a key part of the trade between the two countries.

Segmentation:

The global radiotherapy market is segmented on the basis of treatment type, application, and region.

By treatment type, the global radiotherapy market is segmented into X-ray, gamma ray, external beam radiotherapy, proton therapy, and internal radiation therapy.

By application, the global radiotherapy market is segmented into prostate cancer, breast cancer, lung cancer, ovarian cancer, and thyroid cancer.

Browse the market data and information spread across 80 pages with 43 data tables and 47 figures of the report “Radiotherapy Market Research Report: Information by Type [External Beam Radiation Therapy (Intensity Modulated Radiation Therapy, Image Guided Radiation Therapy, Tomotherapy, Stereotactic Radio Surgery, Stereotactic Body Radiation Therapy, and Proton Therapy), Internal Radiation Therapy, and Systemic Radiation Therapy], Application (Skin and Lip Cancer, Head and Neck Cancer, Breast Cancer, Prostate Cancer, Cervical Cancer, Lung Cancer, Spine Cancer), Equipment (Linear Accelerators, Radiation Therapy Simulators, and Treatment Planning Systems)-Global Forecast till 2025 at: https://www.marketresearchfuture.com/reports/radiotherapy-market-1526

Regional Analysis:

The Americas hold the largest share in the global radiotherapy market. The well-developed healthcare sector in the region is the major driver for the radiotherapy market in the Americas, as a large number of hospital and medical facilities have radiotherapy capabilities. The strong presence of leading radiotherapy device and technology developers in the U.S. is also a major driver for the Americas market for radiotherapy.

Europe holds the second largest share in the global radiotherapy market, followed by Asia Pacific.

Radiotherapy, also known as Radiation therapy is largely used in cancer treatment and less commonly in the treatments of thyroid disease, blood disorders, and noncancerous growths. Radiotherapy uses high-energy rays to treat the conditions.

Radiotherapy is a proven effective cancer treatment and hence, its market is growing rapidly and pervasively. Technological advancements in medical science & biotechnology have improved the outlook for cancer treatments further escalating the market on the global platform, controlling the spread of the disease sufficiently.

Acknowledging the exponential accruals, the market is garnering pervasively, Market Research Future (MRFR) in its recently published study report asserts that the global Radiotherapy market is poised to touch a valuation of USD 7 MN by 2023

registering a CAGR over 7% during the forecast period (2017 – 2023).  In 2016, the market had valued at 4.5 MN. which indicates that the market is expected to achieve a slightly lesser than the double fold growth.

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Worldwide, cancer cases are increasing pervasively, creating a million dollar concern. On the other hand, Improving economy is proving to be a blessing in disguise that is in a way increasing the purchasing power of people, increasing the access to the modern life that is leading to the growing addictions such as tobacco and alcoholism which are the dominant risk factor developing cancer cells and tumors. And, on the other hand, these improving economic conditions are increasing access to the quality of healthcare, increasing the number of treatment centers.

Additionally, factors such as the increasing per capita healthcare expenditures, increasing population, exposures to harmful radiation, heredity reasons, and genetic mutations are driving the growth of the Radiotherapy market. Increasing governmental initiatives are supporting the market growth, spreading the awareness towards cancer and its treatments. Unavailability of comprehensive treatments especially in the developing regions presages the large scope for the market to evolve further, prompting substantial investments for R&D to bring more novelty and betterments in the radiology.

On the flip side, high costs associated with the radiotherapy, long approval time for the clinical trials along with the adverse effects associated with therapy are obstructing the market growth.  

Global Radiotherapy Market – Segmentations

The MRFR analysis is segmented into three key dynamics for enhanced understanding. 

By Treatment Type: Proton Therapy and X-rays, External Beam Radiotherapy (Intensity Modulated Radiation Therapy (IMRT), 3D Conformal Radiation Therapy, Image Guided Radiation Therapy (IGRT), Stereotactic Radio Surgery, Tomotherapy, and Stereotactic Body Radiation Therapy.), others.

By Application: Prostate Cancer, Breast Cancer, Lung Cancer, and others.

By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.

Global Radiotherapy Market – Regional Analysis

The North American region is estimated to continue dominating the global Radiotherapy market, slicing the largest market share.  Majorly supported by the US, the growth in the market is fostered by the increasing prevalence of various types of cancer and thyroid as a result of the consequences of the wrong lifestyle, in the region.  Moreover, technological advances coupled with the increasing healthcare expenditure support the growth of the regional market.

The Radiotherapy market in the European region is expected to account for the second-largest market, following the North American market closely. Factors boosting the growth of the regional market include technological advancement and the augmented adoption of Radiotherapy to treat the growing cases of cancer occurrences.

The Asia Pacific region, heading with the improving economic conditions that are rapidly increasing the access to the quality healthcare is rapidly emerging as a profitable market for Radiotherapy.

Moreover, the increasing number of cancer patients in the region alongside the advancements in medical technology drives the market growth in the region. 

Global Radiotherapy Market – Competitive Analysis

The Radiotherapy market appears to be highly competitive characterized by the presence of several well-established as well as small players. Matured players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and technology launch in order to gain a competitive advantage and thus to maintain their positions in this market. 

Well-established players are increasingly investing in R&D to develop a cost-effective product portfolio and are seeking expansion through various strategic initiatives. These players tap the growing markets for expansions and strive to address the critical needs of the market with a broad range of solutions and effective and complete workflow.

Key Players:

Key players leading the global Radiotherapy market include Siemens (Germany), Varian (India), GE Healthcare (UK), Cardinal Health (US), Nordion (CA), Isoray (US), View ray (US), Fuji Holdings (Japan), Philips Healthcare (US), Shimadzu Corporation (Japan), and Hologic (US).

Industry/ Innovation/Related News:

January 25, 2019 --- Apollo Hospitals Enterprise Limited (India), a leading hospital chain launched SE Asia's first proton cancer center - Apollo Proton Cancer Centre (APCC), which would offer Proton beam therapy considered as one of the most superior forms of radiation therapy in the treatment of cancers.

It is the first institution to offer advanced cancer treatment in Southeast Asia.  Unlike the conventional radiotherapy, Proton Therapy uses high energy proton beam (sub-atomic particles) to achieve the same impact but without the collateral damage.

January 16, 2019 --- MIM Software Inc. (the US), a leading global provider of medical imaging software solutions in the fields of radiation brachytherapy, oncology, radiology, and clinical trials among others announced receiving of FDA 510(k) clearance for its molecular radiotherapy (MRT) dosimetry.

MRT, an effective form of therapy that using radiopharmaceuticals such as Azedra (I-131 iobenguane) and Lutathera (Lu-177 DOTATATE) targets tumors based on certain receptors that these tumors express. 

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