Radiotherapy Market Anticipated To Witness Hugh Growth In The Near Future | Leading Players - Hitachi Ltd., Accuray Incorporated, Varian Medical Systems, Inc., Elekta AB, Ion Beam Applications S.A., C.R. Bard, Inc., Isoray Medical, Inc.

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. 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.

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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. However, difficulty in tumor visualization experienced during radiotherapy procedures and the dearth of skilled professionals to carry out radiotherapy are factors restraining growth of the radiotherapy market.

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.

Radiotherapy Market - Major Players

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.

Detailed Segmentation:

Global Radiotherapy Market, By Application:
Prostate Cancer
Breast Cancer
Lung Cancer
Colorectal Cancer
Cervical Cancer
Others

Global Radiotherapy Market, By Product Type:

External Beam Radiation
- Compact Advanced Radiotherapy Systems: Cyber Knife, Gamma Knife, Others
- Proton Therapy Systems: Synchrotron, Cyclotron
High Energy Linear Accelerators (LINAC)

Internal Beam Radiation
Applicators
Afterloader
Seeds
Capnographs
Gas Analyzers
Systemic Radiation

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