Radiotherapy Market Size to Reach USD 7.65 Billion in 2027 | Increasing Global Incidence of Cancer, Rising Use of Radiotherapy in Combination with Other Treatment Approaches are Some Key Factors Driving Industry Demand, says Emergen Research

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Emergen Research

11 Aug, 2021, 14:09 GMT

VANCOUVER, BC, Aug. 11, 2021  /PRNewswire/ -- The global radiotherapy market size is expected to reach USD 7.65 Billion in 2027 at a CAGR of 3.4% during the forecast period, according to the latest report by Emergen Research. Rising prevalence of cancer worldwide, increasing adoption of radiotherapy for treatment of various cancers, and growing awareness among patients regarding the benefits of radiotherapy are key factors expected to drive market revenue growth over the forecast period. In addition, radiotherapy minimizes the damage to surrounding healthy tissues and can be combined with chemotherapy to make other treatment approaches more effective. This has resulted in increased adoption of radiotherapy as a curative or adjuvant treatment approach and is expected to further contribute to the revenue growth of the market going ahead.

Radiotherapy is a treatment approach that utilizes high dosage of radiations to destroy cancer cells and shrink tumors. Radiotherapy has proven to be effective in the treatment of various types of cancers and some non-cancerous tumors. Radiation therapy often uses X-rays but protons and other energy types can also be used. High-energy beams from a machine are aimed at precise points in the body to kill cancer cells while minimizing the damage to surrounding healthy cells and tissues.

Radiotherapy is also done to reduce the risk of cancer coming back after surgeries and to relieve symptoms when the cure for particular type of cancer is not available. Recent technological advancements in radiotherapy have made the treatment more precise, improved the patient outcomes significantly, reduced cost of the procedure, and increased efficiency of treatment. This is expected to further boost its adoption across the globe and contribute to the revenue growth of the market going ahead.

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However, lack of adequate healthcare facilities in developing and underdeveloped countries, shortage of skilled professionals, complexity of the treatment and radiotherapy devices, low healthcare expenditure, and low awareness among patients about radiotherapy are some key factors expected to restrain market growth to a certain extent over the forecast period. In addition, risk of radiation exposure associated with the treatment and growing incidences of side effects such as nausea and vomiting are some other factors that can hamper market growth going ahead.

Some Key Highlights from the Report:

  • External beam radiotherapy product segment is expected to register significant revenue growth over the forecast period owing to rapid technological advancements in radiotherapy machines, ability to deliver precise radiation dosage, minimal damage to surrounding healthy tissues, and increasing use of linear accelerator systems.
  • Breast cancer segment is expected to register robust revenue CAGR over the forecast period owing to increasing incidence of breast cancer in women worldwide, rising use of brachytherapy to deliver precise and high concentration dosage to target tissues, growing preference for radiotherapy owing to minimal radiation risk to healthy breast tissues, and rapid advancements to develop effective treatment procedures for breast cancer.
  • Hospitals segment accounted for largest revenue share in the global market in 2019 and is expected to register significant revenue growth going ahead. Revenue growth of the segment can be attributed to increasing number of cancer patients preferring hospitals for diagnosis and treatment, availability of and accessibility to state-of-the-art healthcare facilities, and implementation of favorable reimbursement policies.
  • Asia Pacific market revenue is expected to expand significantly over the forecast period owing to large population of target diseases, increasing medical tourism, advancements and improvements in healthcare facilities, rising awareness regarding radiotherapy as an effective cancer treatment approach, and increasing presence of key players in the region.
  • Major companies in the market include Varian Medical Systems, Inc., Elekta, Accuray Incorporated, Ion Beam Applications S.A., Panacea Medical Technologies Pvt. Ltd., ViewRay, Inc., IsoRay Medical, Inc., Provision Healthcare, Hitachi Ltd., Mevion Medical Systems, Inc., and Reflexion Medical.
  • In April 2021, Varian Medical Systems, Inc. announced a strategic partnership with Google Cloud to build an AI-powered diagnostic platform to create AI models for organ segmentation and automate radiation oncology workflow to accelerate the fight against cancer.
  • In June 2021, first-ever public radiotherapy facility opened in Niger providing access to critical patients and marked an important milestone in the country's fight against cancer. The facility has been commissioned in association with the International Atomic Energy Agency (IAEA) and is expected to offer radiotherapy services to nearly 600 cancer patients from Niger and neighboring West African countries annually.
  • In July 2021, Russian scientists developed a novel method for the evaluation of radiotherapy effectiveness in cervical cancer patients by using scanning electron microscopy to assess the morphological changes in red blood cells due to radiation. The technique, in future, can also be used to understand the role of viruses, vesicles, and red blood cells in the development and progression of cervical cancer. The study was published in the International Journal of Biomedicine.

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For the purpose of this report, Emergen Research has segmented the global radiotherapy market on the basis of product, type, application, end-use, and region:

Product Outlook (Revenue, USD Billion; 2017–2027)

  • External Beam Radiotherapy Product
    • Linear Accelerators (LINAC)
      • Conventional LINAC
      • Stereotactic Advanced Electron/Cobalt-60 LINAC
        • CyberKnife
        • Gamma Knife
        • TomoTherapy
      • Particle Therapy Systems
        • Cyclotrons
        • Synchrotrons
        • Synchrocyclotrons
      • Conventional Cobalt-60 Teletherapy Units
  • Internal Beam Radiotherapy/Brachytherapy Products
    • Seeds
    • Applicators
    • Afterloaders
    • Electronic Brachytherapy Products
  • Systemic Radiotherapy
    • Iobenguane-131
    • Samarium-153
    • Rhenium-186
    • Yttrium-90
    • Radium-223
    • Phosphorous-32
    • Radio-Labelled Antibodies

Types Outlook (Revenue, USD Billion; 2017–2027)

  • External Beam Radiotherapy
    • Image-guided Radiotherapy (IGRT)
    • Intensity-modulated Radiotherapy (IMRT)
      • TomoTherapy
      • Volumetric Modulated Arc Therapy (VMAT)
    • Stereotactic Therapy
    • 3D Conformal Radiotherapy (3D-CRT)
    • Particle Beam Therapy (Heavy-ion and Proton Therapy)
  • Internal Beam Radiotherapy/Brachytherapy
    • Low-dose-rate (LDR) Brachytherapy
    • High-dose-rate (HDR) Brachytherapy
    • Pulsed-dose-rate (PDR) Brachytherapy
  • Systemic Radiotherapy
    • Intravenous Radiotherapy
    • Oral Radiotherapy
    • Instillation Radiotherapy

Applications Outlook (Revenue, USD Billion; 2017–2027)

  • Prostate Cancer
  • Breast Cancer
  • Lung Cancer
  • Colorectal Cancer
  • Spine Cancer
  • Brain Cancer
  • Pediatric Cancer
  • Gynecological Cancer
  • Cervical Cancer
  • Penile Cancer
  • Head and Neck Cancer

End Use Outlook (Revenue, USD Billion; 2017–2027)

  • Hospitals
  • Independent Radiotherapy Centers

Have a look at Report Description and Table of Contents of Market Research Report@ https://www.emergenresearch.com/industry-report/radiotherapy-market

Regional Outlook (Revenue, USD Billion; 2017–2027)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Spain
    • Italy
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • South Africa
    • Israel
    • Rest of Middle East & Africa

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