Image-guided radiation therapy Market Will Generate Record Revenue by 2029

The global image-guided radiation therapy market is anticipated to grow at a CAGR of 6.1% during the forecast period (2023-2030). Increasing prevalence of cancer along with the rapid development in its treatment is the key factor driving the market growth. According to the World Health Organization (WHO), cancer is one of the leading causes of morbidity and mortality globally. Further, as per global Cancer Research Fund International, around 18.1 million cases of cancer were diagnosed in 2020. The age-standardized rate for all cancers (excluding non-melanoma skin cancer) for men and women combined was 190 per 100,000 in 2020 globally. Hence, the companies are focusing on introducing new and improved technology for effective treatments. For instance, in October 2022, Royal Philips, introduced 2 new advances in mitral regurgitation (MR)-only workflows to advance head and neck cancer radiotherapy imaging and simulation. The company's artificial intelligence (AI) enabled MRCAT Head and Neck radiotherapy application, which allows the use of MR as the sole or primary imaging modality for radiotherapy planning in the treatment of soft tissue tumors in the head and neck, along with the brain, pelvis and prostate, has received FDA 510(k) clearance and is commercially available in the US.

Additionally, the increasing government approvals and clinical trials further boosting the market's technological advancement. For instance, In September 2020, ViewRay, Inc. announced that the company's MRIdian MRI-Guided Radiation iherapy System has received approval from the Chinese regulatory authority National Medical Products Administration (NMPA), allowing for its sale and utilization throughout China. This approval expands MRIdian's global reach and offers cancer patients a new radiation therapy option, MRIdian Stereotactic MRI-Guided Adaptive Radiotherapy, allowing treatment that integrates diagnostic-quality MR imaging, on-table adaptive replanting, and continuous, real-time, soft tissue tracking and automated beam gating.

Moreover, increasing demand for early diagnosis and advance treatment in cancer market is boosting the overall growth of the market, hence market players are continuously working and introducing new and effective techniques in the market. For an instance, in June 2023, The Hitec City branch of Yashoda Hospital launched an MRI-guided radiotherapy unit for cancer treatment. The technology, combining magnetic resonance imaging (MRI) with precise radiation delivery, is the country's first Unity MR LINAC.

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Market Coverage

• The market number available for - 2022-2030

• Base year- 2022

• Forecast period- 2023-2030

Segment Covered-

• By Product

• By Procedure

• By Application

Regions Covered-

• North America

• Europe

• Asia-Pacific

• Rest of the World

Competitive Landscape- includes, Siemens AG, Hitachi Ltd, Koninklijke Philips N.V., Elekta, Viewray Technologies, Inc., C-Rad, Varian Medical Systems, Toshiba Corp., and others.

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Image-Guided Radiation Therapy Market Report Segment

By Procedure

• 4D Radiation Therapy (Rt)

• Medical Linear Accelerator (LINAC)

• MRI-Guided Radiotherapy

• Portal CT Imaging

By Procedure

• Intensity-modulated radiation therapy (IMRT)

• Stereotactic

• Particle

By Application

• Lung Cancer

• Cervical Cancer

• Head and Neck Cancer

• Breast Cancer

• Prostate Cancer

• Others (Gynecological Cancers, Gastrointestinal Cancers, and Central Nervous System)

Image-Guided Radiation Therapy Market Report Segment by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

• Latin America

• Middle East and Africa

Company Profiles

· Becton, Dickinson and Co.

· C-RAD

· Canon Medical Systems Corp.

· Elekta

· GE Healthcare

· Hitachi, Ltd.

· IBA

· Koninklijke Philips N.V.

· Siemens Healthineers

· Toshiba Corp.

· Varian Medical Systems, Inc.

· ViewRay Technologies, Inc.

· Vision RT Ltd.

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