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Radiation Therapy Equipment Market worth $12.55 billion by 2030, growing at a CAGR of 7.11% - Exclusive Report by 360iResearch
Radiation Therapy Equipment Market | 360iResearch
The Global Radiation Therapy Equipment Market to grow from USD 7.76 billion in 2023 to USD 12.55 billion by 2030, at a CAGR of 7.11%.
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Radiation therapy equipment is a type of medical equipment used to treat cancer and other conditions with radiation. Radiation therapy has the ability to precisely target tumors while minimizing injury to nearby healthy tissue. Radiation therapy equipment is mostly of high power and has the ability to deliver different dose levels, allowing doctors to customize treatment plans for each patient. The prevalence of cancer and the increasing adoption of surgical procedures have been the major factors driving the need for advanced radiotherapy equipment. Governments have taken multiple initiatives to expand access to cancer treatment, and improved reimbursement coverage has enabled more patients to adopt the treatment. However, the stringent government regulations regarding the approval of equipment have been impeding their penetration in many economies. Market players are consistently working on enhancing the operational abilities of radiotherapy equipment with digital and automated advancements and are maintaining the utmost quality care to ensure fast product approval. Moreover, exponential private-public investments in cancer treatment R&D are expected to encourage the development of new treatment equipment.
The Americas region observes an advanced market for radiation therapy equipment supported by the presence of established players offering highly automated equipment and developed cancer care infrastructure. The U.S. and Canada have expanded the provision of reimbursements for cancer care, which has enabled patients to access quality care with different equipment. The Asia-Pacific region observes a high prevalence of cancer cases, and medical institutes are constantly conducting R&D studies to develop improved therapies, which require new equipment. The European region has the presence of the most well-recognized players, with years of experience in offering radiotherapy equipment. Several government initiatives and awareness programs for cancer treatment have expanded the patient preference for surgeries in the early stages. The European Medical Agency and the U.S. Food and Drug Administration provide strict guidelines regarding the approval and marketing of radiotherapy equipment. However, in recent years, players have been able to achieve commercialization authorization in these countries for products that can be essential in cancer treatment.
Market Segmentation & Coverage:
This research report categorizes the Radiation Therapy Equipment Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across External Beam Radiotherapy and Internal Beam Radiotherapy. The External Beam Radiotherapy is further studied across Conventional Cobalt-60 Teletherapy Units, Linear Accelerators, and Particle Therapy Systems. The Internal Beam Radiotherapy is further studied across Afterloaders, Applicators, IORT Systems, and Seeds. The External Beam Radiotherapy is projected to witness significant market share during forecast period.
Based on Application, market is studied across Cancer and Non-cancer. The Cancer is further studied across Blood Cancer, Breast Cancer, Gastrointestinal Cancer, Prostate Cancer, Respiratory & Lung Cancer, and Skin Cancer. The Cancer is projected to witness significant market share during forecast period.
Based on End-User, market is studied across Hospitals and Specialty Clinics. The Specialty Clinics is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 37.77% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Radiation Therapy Equipment Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Radiation Therapy Equipment Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Radiation Therapy Equipment Market, highlighting leading vendors and their innovative profiles. These include Accuray Incorporated, Allengers Medical Systems Ltd, BEBIG Medical GmbH, Bionix LLC, BrainLab AG, Canon Inc., Carl Zeiss AG, Eckert and Ziegler AG, Elekta AB, GE HealthCare Technologies Inc., Hitachi, Ltd., IntraOp Medical Corp., Ion Beam Applications S.A., Klarity Medical & Equipment (GZ) Co., Ltd., LINEV Group, Mevion Medical Systems, Inc., MinXray, Inc., Mitsubishi Heavy Industries, Ltd., Nordion by Sotera Health LLC, Oraya Therapeutics Inc., PTW Freiburg GmbH, RefleXion Medical, Inc., Royal Philips, Siemens Healthineers AG, Stryker Corporation, Sumitomo Heavy Industries, Ltd., and Xstrahl Group.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Radiation Therapy Equipment Market, by Type
7. Radiation Therapy Equipment Market, by Application
8. Radiation Therapy Equipment Market, by End-User
9. Americas Radiation Therapy Equipment Market
10. Asia-Pacific Radiation Therapy Equipment Market
11. Europe, Middle East & Africa Radiation Therapy Equipment Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Radiation Therapy Equipment Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Radiation Therapy Equipment Market?
3. What is the competitive strategic window for opportunities in the Radiation Therapy Equipment Market?
4. What are the technology trends and regulatory frameworks in the Radiation Therapy Equipment Market?
5. What is the market share of the leading vendors in the Radiation Therapy Equipment Market?
6. What modes and strategic moves are considered suitable for entering the Radiation Therapy Equipment Market?
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