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Radiotherapy Market Report Growth, Percentage of Patients Receiving Radiation Therapy - Facts & Figures

10-31-2022 12:46 PM CET | Health & Medicine

Press release from: Strategic Market Research

Radiotherapy Market Report Growth, Percentage of Patients

The radiotherapy market in 2021 was $6.50 billion, and it will be worth $10.71billion by 2030 at a 5.71% CAGR from 2021 to 2030. Cancer patients receive radiotherapy, commonly referred to as radiation therapy, to treat their condition by eliminating cancerous cells and shrinking tumors. During radiotherapy, X-rays, gamma rays, and charged particles are often used radiations. The radiation beam can be used externally, internally, or systemically depending on cancer's severity.

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Radiotherapy Market Insights:
• External beam therapy ruled the overall market with a significant share of 80.56% on the basis of type.
• Hospitals are the fastest-growing segment in terms of end-user in 2021.
• Geographically, North America contributed for the biggest market with a share of 36% in 2021

Radiotherapy Market Dynamics
Some of the key reasons driving the growth of this market are the increasing usage of particle therapy for cancer treatment, the increasing use of radiotherapy methods for cancer treatment, and the rise in conferences and symposia devoted to radiotherapy developments. In 2018, an estimated 9.6 million fatalities were attributed to cancer, the second largest cause of death globally. However, a shortage of skilled, experienced professionals to handle the workload and insufficient resources to meet the demands of radiation are some challenges limiting the market's expansion. In addition, substantial prospects for market expansion are anticipated throughout the projection period from growing markets and rising cancer treatment demand.

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Radiotherapy Market: A Thorough Segmentation Analysis
The worldwide Radiotherapy Market segmentation has been done on the basis of type, application, equipment, end-user, and region.

By Type:
· Systemic Radiation therapy
· External Beam Radiation Therapy
· Internal Beam Radiation Therapy

By Application:
· Breast cancer
· Lung cancer
· Head & Neck Cancer
· Skin and Lip Cancer
· Spine Cancer
· Prostate Cancer
· Cervical Cancer

By Equipment
• Treatment Planning Systems
• Radiation Therapy Stimulators
• Linear Accelerators

By End-User
• Independent Radiotherapy Centers
• Hospitals

By Region
North America
• Canada
• United States
• Mexico
• Rest of North America

Europe
• United Kingdom
• Russia
• Spain
• Germany
• France
• Finland
• Sweden
• France
• Denmark
• Ireland
• Belgium
• Netherlands
• Austria
• Switzerland
• Italy
• Rest of Europe

Asia Pacific
• Japan
• India
• South Korea
• China
• Taiwan
• Australia
• Rest of Asia Pacific

LAMEA
· Chile
· Bahrain
· Qatar
· Saudi Arabia
· United Arab Emirates
· Kuwait
· Oman
· Brazil
· Argentina
· Egypt
· Iran
· Iraq
· Israel
· Turkey
· Rest of LAMEA

External beam therapy ruled the overall market with a significant share of 80.56% on the basis of type. Due to growing needs from the medical industry, including an increase in the number of patients with cancer and other chronic diseases, improved radiation therapy effectiveness, increased demand for the cyberknife in external beam radiotherapy, and an increase in the number of organizations working to develop the technology. It fuels the radiation therapy market.

Geographically, North America contributed for the biggest market with a share of 32.87%. Increasing expenditures in R&D and healthcare infrastructure are credited with driving the region's rapid growth. With its considerable measures, tools, and infrastructure of hospitals or other facilities, the regional market is geared towards funding and early identification & treatment of cancer. The industry will benefit from the presence of various market players focused on creating cutting-edge solutions for improved patient management. Similarly, a growing elderly population in need of greater care and supportive government initiatives will stimulate regional industry figures.

Key Players in Radiotherapy Market:
· Accuracy, Inc.
· Becton, Dickinson, and Company
· Eckert & Ziegler
· Hitachi Ltd
· ICAD, Inc.
· Elekta
· Varian Medical Systems, Inc. (a subsidiary of Siemens Healthineers AG)
· Ion Beam Applications SA
· IsoRay Medical, Inc.
· Mevion Medical Systems, Inc.
· Panacea Medical Technologies Pvt. Ltd.
· ZEISS Group
· GE Healthcare
· IntraOrp Medical, Inc.
· P-cure Ltd.
· ViewRay, Inc.

The radiotherapy market was $6.50 billion in 2021 and will grow at a CAGR of 5.71% from 2021 to 2030. The main drivers of market expansion are the rising rate of cancer and the increased use of cutting-edge treatment methods.

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