Radiotherapy Market is anticipated to grow further up to USD 11.7 billion by 2031 | Elekta, Accuray Incorporated, IBA , ViewRay Technologies, Inc.

The 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.

New York, According to a new market research report published by Global Insight Services Radiotherapy Market is expected to reach US$ XX bn by 2031. 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.

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. 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. Therefore, radiotherapy is the most common method used to treat cancer and ease the symptoms of cancer and further slows or stops the growth of damaged cells. Hence, aforementioned aspects will prove beneficial for the overall market progression.

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Market Restraints and Challenges

Difficulties in visualizing tumors during radiotherapy procedures may impede the market growth. One of the major challenges faced during radiotherapy procedures is difficulties faced in the visualization of tumors and demarcations from normal healthy tissues. Advancements in ionizing radiation therapy for cancer treatment are expected to help overcome this challenge. However, since tumors can change their shape daily, it becomes difficult to only radiate the cancerous outgrowth without affecting the surrounding tissues.

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Global Radiotherapy Market Segmentation
Type

External Beam Radiation Therapy
Intensity-Modulated Radiation Therapy (IMRT)
Image-Guided Radiation Therapy (IGRT)
Proton Therapy
Others

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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Reasons to buy Radiotherapy Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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