Radiotherapy Market : Segmentation, Industry trends and Developments 2027

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.

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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. According to the International Union against Cancer (UICC) Report, 2017, around 160,000 children are estimated to be diagnosed with cancer and at least 90,000 children are estimated to die of cancer globally.

Radiotherapy is increasingly being adopted for cancer treatment due to its cost-effectiveness. According to the report by The Mesothelioma Center, radiation therapy accounts for an average US$ 2,000 per treatment, whereas the initial treatment cost of chemotherapy is around US$ 7,000. Also, according to a study published in the Journal named Frontiers of Oncology, 2014, the impact of radiotherapy for cancer cure was 40%, compared to 11% of patients by systemic treatments globally. Also, the Royal College of Radiologists states that radiotherapy is a safe, modern, and an efficient targeted cure, contributing to the cure of 40% of cancers, while drug therapy accounts for 10% of cancer cure among patients.

Europe is expected to be the fastest-growing region in the radiotherapy market, owing to the increasing number of government initiatives being undertaken for cancer care, in turn increasing the introduction of novel therapies in the global market. For instance, in 2015, the Swedish Government launched the National Cancer Program to make cancer care more equitable and accessible. Moreover, in 2017, the Swedish Testbed for Innovative Radiotherapy was launched as a collaborative platform to enable healthcare providers and market players in Sweden, to test new technology and methods in clinical settings for the development of innovative radiotherapies for cancer treatment. Also, in 2016, National Health Service, England announced US$ 183 million investment to upgrade radiotherapy investment, ensuring patients get access to the latest leading-edge technology, thereby transforming cancer treatment across England.

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This release was published on openPR.