Energy-Based Cancer Treatment Market : key Vendors, Trends, Analysis, Segmentation, Forecast to 2018-2025
Energy-Based Cancer treatment uses various beams of intense energy obtained from X-rays and other radioactive rays to kill cancer cells, by damaging cell DNA directly or by creating charged particles within the cell. Increasing utilization of energy-based cancer therapies like radiation therapy, in the recent years, is expected to boost the energy-based cancer treatment market, during the forecast period.
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The energy-based cancer treatment market is projected to grow significantly, during the forecast period, attributed to their efficacy to kill cancer cells, coupled with rising incidences of cancer cases across the globe. According to World Health Organization (WHO), in 2015, 8.8 million people died globally due to cancer. Technological advancements and developments of radio-based medical instruments like Gamma Knife and Tomotherapy is expected to play significant role in the growth of energy-based cancer treatment.
According to The Gamma Knife Center (situated at The Valley Hospital, U.S.), every year around 70,000 patients undergo Gamma Knife surgery and the success rates are extremely high.
Furthermore, government inititatives, coupled with rising healthcare expenditure are further expected to boost the energy-based cancer treatment market. In 2017, Australian Government invested US$ 35.5 million in the Australian Brain Cancer Mission.
However, high costs of energy-based cancer treatment, coupled with potential side-effects such as infertility, fatigue, skin problems, etc, associated with energy-based treatment might hinder the growth of energy-based cancer treatment market. The average cost of a course of radiation therapy ranges between US$ 8,600 to US$ 18,000.
By Treatment Type:
Energy-based cancer treatment is broadly segmented into invasive and non-invasive treatment. Non-invasive cancer treatment, which mainly consists of external beam radiation therapy (EBRT), is projected to grow significantly during the forecast period, due to development of a number of EBRT techniques and devices such as 3D-CRT, GammaKnife, LINAC, CyberKnife, IMRT, and proton beam radiation therapy.
Among these, 3-Dimensional conformal radiation therapy (3D-CRT) is expected to rise enormously, due to its efficacy in precisely mapping the location where the cancer cells are present thereby targeting them without damaging the healthy cells. Invasive treatment that mainly consists of internal radiation therapy and systematic radiation therapy is expected to gain traction, due to their increased usage in the treatment of cervical and other gynecological cancer types.
By Source of Energy:
X-rays are the widely used source of energy that is used in the radiation therapy to treat cancer, due to their higher penetration power and ability to disrupt cancer cells. X-rays will dominate the energy-based cancer treatment market, due to their non-invasive and painless nature of treatment. The lesser side effects caused by them as compared to chemotherapy and other surgical methods are also anticipated to drive the growth of X-rays in the forecast period.
The higher prevalence of prostate and breast cancer is anticipated to drive the energy-based cancer treatment market. According to the NCBI, prostate cancer is the most common cancer in men and radiotherapy is extensively used in the treatment of this cancer type. According to UCLA Urology, Intensity Modulated Radiation Therapy (IMRT) is the widely used energy-based treatment used in treating prostate and Breast Cancer.
North America is expected to hold the major revenue share in the global energy-based cancer treatment market, due to improved healthcare infra-structure and facilities in U.S. Higher prevalence of cancer incidences, coupled with the presence of key market players like Mevion Medical Systems and Accuray Inc. in this region will further enhance the energy-based cancer treatment market over the projected period.
According to American Cancer Society, about 609,640 Americans are expected to die because of cancer, in 2018. The energy-based cancer treatment market in Asia-Pacific is also expected to grow during the forecast period, due to rise in number of cancer patients, coupled with government programs for the treatment and prevention of cancer in the region.
According to the Cancer Atlas website, produced by the American Cancer Society, the Union for International Cancer Control and the International Agency for Research on Cancer, 44% of cancer cases are reported from Asia and China represents majority of the cancer burden.
Key market players operating in Energy-Based Cancer Treatment market include IsoRay Inc., Mevion Medical Systems, Elekta AB, Ranor Inc., Hitachi Medical Systems Europe, NTP Radioisotopes, Siemens Healthcare, Accuray Inc., ProTom International and IBA Worldwide.
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Major market players are focusing on international merger and acquisition activities to enhance their global reach as well as to strengthen their specialty brand segment. For instance, In September 2015, Therakos, Inc. was acquired by Mallinckrodt Public Limited, which will expand their business across the globe, and also strengthen their specialty brand segment.
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