Radiation Therapy Market 2021: Industry Overview, Trends, Growth and Forecast 2027

Precision Business Insights published a research report on “Radiation Therapy Market: By Product (External Beam RT, Internal Beam RT) By Type (Image-guided Radiotherapy (IGRT), Intensity-modulated Radiotherapy (IMRT), Stereotactic Therapy, 3D Conformal Radiotherapy (3D-CRT), Particle Beam Therapy, Others) By Application (Prostate Cancer, Breast Cancer, Lung Cancer, Head & Neck Cancer, Colorectal Cancer, Others cancers) End User (Hospitals, Independent Radiotherapy Centers) and Geography - Global/Region/Country Forecast to 2027".

The employment of X-rays and other forms of radiation technologies in radiotherapy treatment is primarily for the treatment of cancer condition. High-energy based radiation rays are used in radiotherapy to harm cancer-causing cells and prevent the growth and proliferating. The benefits of radiotherapy treatment include the ability to correctly and directly pinpoint cancer wherever it may be in the body. The method and technique of radiation has progressed with the introduction of new treatment planning software and new features-based therapeutic modalities, which demand highly competent and certified people to operate.

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The number of persons affected by various cancers has always been a primary driving force in this industry. One of the most serious life-threatening diseases of our day is cancer. Cancer is the second biggest cause of mortality worldwide, as per the World Health Organization, with a projected 9.6 million deaths in 2018. Cancer is responsible for around one out of every six deaths worldwide. Cancer kills around 70% of people in low and middle-income nations. In the United States, squamous cell carcinoma accounts for roughly 6% of all cancer cases. With roughly 56,000 cases identified each year, it is the 15th most common kind of cancer in Europe. Inadequate resources to satisfy the demands of radiation, as well as a shortage of competent, experienced personnel to handle the workload, may be found in all of the key markets. The actual number of experienced workers necessary to perform a radiation operation is determined by a variety of parameters, including the number of patients treated as well as the treatment's complexity and the nature of the local devices.

The Global radiotherapy market is categorized into five distinguished segments which are based on type, application, product, end user and distribution channel. In terms of type, the radiotherapy market is classified into internal radiation therapy, external-beam radiation therapy, systemic radiotherapy/radiopharmaceuticals and others. In terms of product, the radiotherapy market is divided into internal radiotherapy products, external beam radiotherapy, radiotherapy software and others. On the basis of application, the radiotherapy market is segregated into lung cancer, breast cancer, prostate cancer, lymphoma, colorectal cancer, thyroid cancer, liver cancer, cervical cancer, brain cancer, spine cancer and others. In terms of end user, the radiotherapy market is fragmented into radiation therapy centers, hospitals, specialty clinics and others. In terms of distribution channel, the radiotherapy market is divided into retail sales, direct tender, and others.

In 2018, North America dominated the global radiotherapy market, followed by Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Nonetheless, due to its rapid economic expansion of many nations in the region, rising cancer incidence, and increased government focus on the healthcare industry, Asia-Pacific will be the highest expanding regional market. Other significant factors propelling the growth of the Asia-Pacific radiotherapy market include government attempts to develop medical facilities and increased health insurance adoption.

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There are some major players working in radiation therapy market, which include Varian Medical Systems, Inc. (US), Elekta (Sweden), Accuray Incorporated (US), Ion Beam Applications SA (Belgium), ViewRay, Inc. (US), IsoRay Medical, Inc. (US), Hitachi Ltd. (Japan), Panacea Medical Technologies Pvt. Ltd. (India), Provision Healthcare (US), Mevion Medical Systems, Inc. (US)

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