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Hospitals Deploying Radiotherapy Equipment to Treat Cancer

10-12-2021 08:37 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

Hospitals Deploying Radiotherapy Equipment to Treat Cancer

According to the Global Cancer Observatory (GLOBOCAN), 2020 saw a total of 19.3 million cancer cases and 10 million cancer deaths worldwide. The International Agency for Research on Cancer (IARC) states that globally, 1 in 5 people are affected by cancer during their lifetime, and 1 in 11 women and 1 in 8 men die of it. As per research, socio-economic factors and aging are the prime causes of cancer. Owing to this reason, the usage of radiotherapy is expected to increase in the coming years.

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Additionally, technological advancements in radiation therapy are projected to accelerate the radiotherapy market at a CAGR of 8.4% during the forecast period (2020–2030). For instance, automated products are being incorporated into clinical practice systems to enhance the treatment process. Moreover, the advent of more-precise forms of radiotherapy treatment, such as volumetric modulated arc therapy (VMAT), proton therapy, stereotactic radiosurgery (SRS), brachytherapy, and image-guided radiation therapy (IGRT), will help the market revenue increase from $7,222.4 million in 2019 to $17,194.4 million by 2030.

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Radiotherapy is primarily used in hospitals as they are the initial point of contact for the diagnosis and treatment of diseases. These healthcare facilities offer the best-possible services due to the presence of trained healthcare professionals and technologically advanced medical devices. Moreover, the increasing cases of cancer, booming geriatric population, and growing healthcare expenditure will lead to the largescale adoption of radiotherapy devices in hospitals. In addition to hospitals, cancer research institutes and independent radiotherapy centers deploy radiotherapy devices to develop new technologies and diagnose tumors, respectively.

The Asia-Pacific (APAC) radiotherapy market will demonstrate the fastest growth during the forecast period, driven by the improving healthcare infrastructure, widespread burden of cancer, and rising investments by private and public organizations. According to GLOBOCAN, Japan is expected to record 3.5 million cancer cases in 2025. Similarly, the American Institute of Cancer Research states the low- and middle-income countries (LMICs), such as India and China, will account for the highest number of cancer cases by 2030.

Thus, the surging number of cancer patients and technological developments will increase the adoption of radiotherapy equipment in the foreseeable future.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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