Radiotherapy Market With Covid-19 Impact and Market Size, Share, Growth Factors, Competitive Landscape and Regional Forecast 2031

New York, Global Radiotherapy Market was valued at USD 6.5 billion in 2021 and it is anticipated to grow up to USD 11.7 billion by 2031, at a CAGR of 6.0% during the forecast period.

Global Radiotherapy Market report from Global Insight Services is the single authoritative source of intelligence on Radiotherapy Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Radiotherapy, commonly known as radiation therapy, is used for cancer patients to cure cancer by destroying the cancer cells and reducing the size of tumors. X-rays, gamma rays, and charged particles are commonly used radiotherapy markets during radiotherapy. Modern radiotherapy makes use of highly precise collimating devices that positively impacts the market expansion.

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Market Trends and Drivers

Rising number of cancer cases is expected to accelerate the market growth Surging number of cancer cases worldwide is expected to foster the market demand for radiotherapy over the analysis timeframe. According to the WHO, cancer is the leading cause of death globally and around ten million deaths occurred in 2020. Breast, prostate, lung, colon and re*ctum are among the most common cancers that further accelerates the market progress for radiotherapy. Similarly, according to International Agency for Research on Cancer (IARC), over seventeen million new cancer cases across the globe were observed in 2018. And by 2040, it is projected to grow to 27.5 million new cases.

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Global Radiotherapy Market Segmental Overview

The report analyses the global radiotherapy market based on type, application, end use, and region.

Global Radiotherapy Market by Type

Based on type, the radiotherapy market is classified into external beam radiation therapy, internal radiation therapy and systemic radiation therapy. The external beam radiation therapy is sub-segmented in intensity-modulated radiation therapy (IMRT), image-guided radiation therapy (IGRT), proton therapy and others. The external beam radiation therapy segment accounted for around significant market share in 2021 and the trend will continue to rise in the near future. External beam radiation therapy is the most common type of therapy and is a local treatment that helps to treat a specific part of the body. A machine linac or linear accelerator creates a radiation beam for photon or X-ray radiation therapy. This further helps target the tumor while avoiding healthy tissue near the cancer cells. In addition, most of the external beam radiation therapies are given every week for several weeks to cure the tumor or cancer cells. Therefore, numerous benefits of this therapy over others secure the segmental as well as market growth.

Global Radiotherapy Market by Application

On the basis of application, the radiotherapy market is segmented into head & neck cancer, breast cancer, lung cancer, prostate cancer and cervical cancer among others. Among them, the breast cancer segment accounted for significant revenue size in 2021. Radiation therapy is used at every stage to treat breast cancer and uses protons, X-rays or other particles to kill cancer cells. Radiotherapy for breast cancer can be effectively delivered through external radiation and internal radiation or brachytherapy that secures the market progress. Further, this therapy is one of the effective ways to reduce the risk of breast cancer post-surgery and also ease the symptoms caused by cancer. As per the World Health Organization (WHO) data, in 2020, 2.3 million women were diagnosed with breast cancer and as the end of 2020, nearly 7.8 million women were diagnosed and recorded with breast cancer in the past 5 years. Thus, rising demand for advanced and innovative treatments for breast cancer will enhance the overall market demand.

Global Radiotherapy Market by End-use

Based on end-use, the industry is categorized into hospitals, radiotherapy centers & ambulatory surgery centers as well as cancer research institutes. The hospitals segment accounted for over 41% market share in 2021. Hospitals act as one of the first point of contact for the treatment of cancer. Rising number of cancer cases for better treatment options under skillful healthcare professionals will foster the industry progression. Furthermore, hospitals are equipped with advanced healthcare facilities and devices for effective patient management and care that further enhances the overall market trends.

Geographical Analysis of Global Radiotherapy Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America radiotherapy industry captured largest market share in 2021 and is poised to grow substantially during the forthcoming years. High regional growth is attributed to increasing healthcare infrastructure and R&D investments across the region. The regional market is inclined towards funding and early diagnosis & treatment of cancer with its significant measures, instruments, and infrastructure of hospitals or other centers. Presence of several market participants focusing on developing innovative products for better patient management will prove advantageous for the market expansion. Similarly, increasing geriatric population requiring better treatment and favorable government initiatives will accelerate the regional industry statistics.

Major Players in the Global Radiotherapy Market

The key players in the market are Siemens Healthineers AG (Germany), Elekta (Sweden), Accuray Incorporated (US), IBA (Belgium), ViewRay Technologies, Inc. (US), Hitachi Ltd. (Japan), iCAD, Inc. (US), Mevion Medical Systems, Inc. (US), Panacea Medical Technologies Pvt. Ltd. (India), ZEISS Group (Germany), among others.

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