According to the report Global Radiotherapy market, published by Market Data Forecast, the Market was worth USD 5,450 million in 2016 and estimated to be growing at a CAGR of 6%, to reach USD 7,293 million by 2021. Science of radiotherapy has changed over the years due to substantial advancements in the field of medical technology. A gradual transition is observed from traditional technologies towards complex techniques such as intensity modulated radiotherapy (IMRT), stereotactic body radiation therapy, 4D imaging and proton therapy. These procedures are improving the precision and accuracy of radiotherapy.
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Electromagnetic waves or high-energy radioactive particles are used in radiation therapy for destroying cancer cells, repair physiological abnormalities and shrink tumour cells. Radiotherapy is developing as a foremost technology for destroying the cancer disease. It is a confined treatment like surgery and affects a particular area only.
Technological developments in radiotherapy products, increase in number of aged population, growing prevalence of cancer cases all over the globe, rising symposiums powerful investments in radiotherapy, and growing acceptance of radiotherapy devices and processes will mainly drive the radiotherapy market. Few other factors which are fuelling this market growth are rising preference for non-surgical procedures and increase in demand for replacement as hospitals are replacing older equipment with the newer therapy systems which offers better facilities. Lack of sufficient infrastructure and adequate skills are the major restrain for the growth of radiotherapy market.
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The global radiotherapy market is segmented on the basis of type into External beam radiation therapy, internal beam radiation therapy and systemic radiation therapy. External beam radiation therapy is sub segmented into Intensity-modulated radiation therapy (IMRT), Image-guided radiation therapy (IGRT), Tomotherapy, Stereotactic radiosurgery, Stereotactic body radiation therapy and Proton therapy. Based on application the market is segregated into Skin & Lip Cancer, Head & Neck Cancer, Breast Cancer, Prostate Cancer, Cervical Cancer, Lung Cancer and Spine Cancer. On the basis of equipment type market is bifurcated into Linear accelerators, Radiation therapy simulators and Treatment planning systems. The prostate cancer application segment is estimated to hold the largest share in both external beam radiotherapy market along with internal radiotherapy market.
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Based on geography the market is analysed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. North America is projected to be the leading market in 2016, while Asia-Pacific is anticipated to raise at the highest rate during the forecast period from 2016 to 2021. Growing number of cancer patients in Asia-Pacific region is predicted to drive the radiotherapy market in this region.
Nordion Inc. (Canada), RaySearch Laboratories AB (Sweden), Ion Beam Applications SA (Belgium), C. R. Bard Inc. (U.S.), Mevion Medical Systems Inc. (U.S.), Varian Medical Systems Inc. (U.S.), IsoRay Medical Inc. (U.S.), Elekta AB (Sweden), Accuray Incorporated (U.S.), and Mitsubishi Electric Corporation (Japan) are the key players in the radiotherapy market.
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