Press release
Radiotherapy Devices Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | Varian Medical Systems Inc., Elekta AB, Accuray Incorporated, Becton Dickinson and Company, IBA Ion Beam Applications SA
Radiotherapy Devices Market Size
The Business Research Company offers in-depth market insights through Radiotherapy Devices Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The radiotherapy devices market size has grown rapidly in recent years. It will grow from $5.71 billion in 2023 to $6.29 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to growing incidence of cancer, patient-centric care, aging population, increasing awareness of radiotherapy devices, growing teletherapy and remote monitoring.
The radiotherapy devices market size is expected to see strong growth in the next few years. It will grow to $8.98 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to proton therapy expansion, immunotherapy combination, remote monitoring and teletherapy, growing demand for precise and targeted radiation treatments, minimally invasive radiotherapy techniques. Major trends in the forecast period include proton therapy advancements, hypofractionated radiotherapy, adaptive radiotherapy, patient experience enhancement, artificial intelligence (ai) integration, .
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Market Segmentation:
The main product type of radiotherapy devices is external beam radiation therapy devices, linear accelerator devices, and proton therapy devices. A medical linear accelerator (LINAC) is a radiotherapy device that is generally utilized for external beam radiation treatments for patients with cancer. It supplies high-energy x-rays or electrons to the region of the patient's tumor. The applications are skin cancer, breast cancer, prostate cancer, cervical cancer, lung cancer, and others. These are used in hospitals, ambulatory surgical centres, and oncological treatment centres.
Major Driver - Rising Cancer Prevalence Drives Demand For Radiotherapy Devices
The increasing cancer prevalence is expected to propel the growth of the radiotherapy devices market going forward. Cancer prevalence refers to the total number or percentage of individuals in a population who have been diagnosed with cancer at a particular point in time or over a specific period. Radiotherapy is commonly used as a primary or adjunctive treatment for cancer patients who have been newly diagnosed. It is often employed to shrink tumors, control cancer growth, or eliminate cancer cells before or after surgery. For instance, in February 2023, according to the House of Commons Library, a UK-based government body, cancer claimed the lives of 134,802 persons in England in 2021. Therefore, the increasing cancer prevalence is driving the growth of the radiotherapy devices market.
Competitive Landscape:
Major companies operating in the radiotherapy devices market include Varian Medical Systems Inc., Elekta AB, Accuray Incorporated, Becton Dickinson and Company, IBA Ion Beam Applications SA, Koninklijke Philips N.V., Siemens Aktiengesellschaft, Eckert & Ziegler Bebig, IsoRay Inc., General Electric Healthcare, Vision RT Ltd., RaySearch Laboratories AB, Theragenics Corporation, Canon Medical Systems Corporation, AngioDynamics Inc., Mitsubishi Electric Corporation, Shinva Medical Instrument Company Limited, Neusoft Medical Systems Co. Ltd., Mevion Medical Systems Inc., Optivus Proton Therapy Inc., Panacea Medical Technologies Pvt. Ltd., P-Cure Ltd., Provision Healthcare LLC, Sumitomo Heavy Industries Ltd., ViewRay Inc., Miranda Medical, Nordion Inc., NTP Radioisotopes SOC Ltd., Curium, Hitachi Ltd., Brainlab AG, Best Theratronics Ltd., ProTom International Inc., RefleXion Medical Inc., Insightec Ltd., HistoSonics Inc., Novocure Ltd., TomoTherapy Incorporated, Agile MV LLC, CIVCO Radiotherapy, Neutron Therapeutics, Diapulse Corporation of America, Johari Digital Healthcare Ltd., Alpha Tau Medical Ltd.
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Top Trend - Artificial Intelligence (AI) Revolutionizes Radiotherapy Devices Market
Artificial Intelligence (AI) is a leading trend in the radiotherapy devices market and is gaining significant popularity in the market. The incorporation of AI innovation in disease care is expected to improve the exactness and speed of analysis, help clinical dynamics, and lead to better results. For instance, in October 2022, HCG cancer hospital launched AI-based radiation treatment technology for efficient radiotherapy. The traditional treatment arranging process takes days to make an improved radiation treatment conveyance plan; however, the new AI advancements are helping to speed up this procedure. AI is also expected to include deep learning applications in treatment planning, clinical decision support, automated image-guided adaptive radiation therapy, and genomic/radio-biologic data mining, thus supporting the growth of the market.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Radiotherapy Devices Market Characteristics
3. Radiotherapy Devices Market Trends And Strategies
4. Radiotherapy Devices Market - Macro Economic Scenario
5. Radiotherapy Devices Market Size And Growth
…..
27. Radiotherapy Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Major Companies operating in the Radiotherapy Market are:
• Siemens Healthineers AG
• Accuray Incorporated
• Sumitomo Heavy Industries, Ltd.
• Elekta AB
• Hitachi, Ltd.
• Koninklijke Philips N.V.
• Brainlab AG
• PROTOM INTERNATIONAL
• Varian Medical Systems, Inc.
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