Radiotherapy Market Outlook and Opportunities in Grooming Regions 2026 With Top Key Players Accuray Incorporated, Varian Medical Systems, Elekta AB, Ion Beam Applications S.A., C.R. Bard

The global radiotherapy market was valued at US$ 5,253.7 million in 2016 and is expected to witness a robust CAGR of 6.8% over the forecast period (2017 - 2025). Radiotherapy uses high-energy radiation beams such as gamma rays, x-rays, and protons to kill cancerous cells by inhibiting growth and multiplication. Radiosurgery is often used before surgery to reduce the size of a tumor prior to removal, or after surgery to destroy the cancerous cells left behind.

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Various types of radiation therapies such as conformal radiotherapy (CRT), intensity modulated radiotherapy (IMRT), image guided radiotherapy (IGRT), and 4-dimensional radiotherapy are widely used to treat cancer. Internal radiotherapy is given using radioactive material placed inside the body, while external beam radiotherapy delivers x-rays from outside the body, using linear accelerators and other systems. The innovative image-guided radiotherapy is used to integrate better imaging techniques for visualizing cancer tumor.

Market Dynamics

Major factors driving growth of the radiotherapy market include rising prevalence of cancer, increasing adoption of innovative targeted therapies such as radiotherapy due to side effects associated with traditional chemotherapies such as anemia and infection for cancer treatment. According to the World Cancer Research Fund International, 2012, around 14.1 million cancer cases were registered globally, the number of which is projected to rise to 24 million by 2035. This in turn, is expected to increase the demand for radiotherapy over the forecast period. Nevertheless, the opportunities for the key players to provide radiotherapy products in emerging markets with increasing demand for efficacious cancer treatment are anticipated to provide better prospects for market growth in the near future.

Increasing prevalence of cancer is expected to fuel growth of the radiotherapy market

Rising prevalence of oncology diseases such as prostate cancer, lung cancer, and breast cancer, globally is increasing the demand for timely management to reduce mortality associated with such conditions. This in turn, is a major factor augmenting growth of the radiotherapy market. The International Cancer Association, 2014, states that cancer kills more people every year than AIDS, tuberculosis, and malaria combined. This indicated the growing demand for adopting advanced technologies for cancer management. According to the World Cancer Research Fund Organization, 2015, lung cancer is among the most prevalent cancers worldwide contributing 1.9 million or 13% of the total number of new cases diagnosed in 2012. It further states that breast cancer is the second most common cancer prevalent among women, with 1.7 million new cases diagnosed in 2012. Moreover, increasing prevalence of cancer among children is expected to increase the demand for radiation therapy, as it is a highly recommended therapy due to fewer adverse effects associated with it than chemotherapy to accelerate growth of the market as considering the major adverse effects of chemotherapy.

Major players operating the global radiotherapy market include Accuray Incorporated, Varian Medical Systems, Inc., Elekta AB, Ion Beam Applications S.A., C.R. Bard, Inc., Isoray Medical, Inc., CIVCO Radiotherapy, Hitachi Ltd., Mevion Medical Systems, Inc., and ProTom International, Inc.

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North America is the major market for radiotherapy equipment providers

North America is expected to hold a dominant position in the radiotherapy market, owing to the increasing prevalence of cancer recorded in the U.S. and increasing preference of the novel therapies in comparison to the traditional chemotherapies to minimize side effects associated with chemotherapies. According to the survey conducted by the National Cancer Institute, 2016, an estimated 1,685,210 new cases of cancer were diagnosed in the U.S. and 595,690 deaths due to cancer were reported.

The survey also stated that the public expenditures for cancer care in the U.S. totaled to US$ 125 billion in 2010 and is estimated to reach to US$ 156 billion in 2020, thus raising the demand for radiotherapy for cancer management which will further minimize the economic burden in the region. Furthermore, radiotherapy may cause damage to organs such as the stomach, bowel, liver, and kidneys, which are near the site of treatment, in turn posing as restraining factor for growth of the radiotherapy market.

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