Robotic Radiotherapy Market Worth $1.9 billion | MarketsandMarkets Trademark

Robotic Radiotherapy Market in terms of revenue was estimated to be worth $1.1 billion in 2023 and is poised to reach $1.9 billion by 2028, growing at a CAGR of 11.9% from 2023 to 2028 according to a new report by MarketsandMarkets Trademark .
Robotic Radiotherapy Market [https://www.marketsandmarkets.com/Market-Reports/robotic-radiotherapy-market-122256158.html?utm_source=ABnewswire&utm_medium=Paid&utm_campaign=Referral] in terms of revenue was estimated to be worth $1.1 billion in 2023 and is poised to reach $1.9 billion by 2028, growing at a CAGR of 11.9% from 2023 to 2028 according to a new report by MarketsandMarkets Trademark .

The growth of this market is majorly driven by factors such as the increasing demand for non-invasive treatments, a rise in cancer prevalence, and the widespread adoption of radiotherapy therapy. Additionally, escalating healthcare spending in developing nations, augmented government and private investments, as well as the increasing adoption of radiation therapy, contribute to the market's growth trajectory during the forecast period.

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The 3D cameras (SGRT) segment is expected to register the highest growth in the forecast period of 2023-2028.

Based on the product, the radiotherapy systems are segmented into radiotherapy systems, software, 3D cameras (SGRT), and others. The radiotherapy systems segment commanded the largest share of the global robotic radiotherapy market in 2022, whereas the 3D cameras (SGRT) segment is projected to grow at the highest CAGR during the forecast period.

SGRT has gained widespread acceptance among cancer facilities worldwide due to its capacity to provide non-invasive, real-time, six-dimensional patient positioning and monitoring throughout radiation therapy treatment. This capability ensures precise treatment administration.

SGRT presents a superior and swifter approach to treating brain tumors compared to invasive technologies or LINAC-based stereotactic radiosurgery. Its increasing adoption is attributed to its effectiveness in radiotherapy for breast cancer when combined with deep inspiration breath hold (DIBH) and voluntary-DIBH (VDIBH), which minimizes radiation-induced damage to the heart. Additionally, the expanding utilization of SGRT in whole-brain radiation therapy (WBRT) and the focus of industry players on introducing innovative 3D cameras and expanding their distribution networks are expected to bolster the growth of this segment in the foreseeable future.

The linear accelerators segment, by technology, is expected to register the market share of the global robotic radiotherapy market in 2023.

Based on technology, the global robotic radiotherapy market is segmented into linear accelerators, stereotactic radiation therapy systems, and particle therapy.

The linear accelerators segment is expected to account for the largest share of the indoor monitors market in 2023, primarily due to the significant advancements in recent years, enhancing their efficiency, precision, and versatility in delivering radiation therapy and ability to administer different types of radiation. Moreover, certain Linacs are equipped with onboard Cone Beam CT (CBCT) technology, facilitating real-time imaging prior to each treatment session. This guarantees accurate targeting, even in the presence of minor alterations in tumor position or patient anatomy. This represents another significant driver for the expansion of the market for fixed indoor monitors.

The lung cancer segment, by application, is expected to register the market share of the global robotic radiotherapy market in 2023.

Based on application, the global robotic radiotherapy market is segmented into prostate cancer, breast cancer, lung cancer, head & neck cancer, colorectal cancer, and other cancers. The lung cancer segment accounted for the largest share of the global robotic radiotherapy market in 2022. This segment is projected to reach USD 0.53 billion in 2028. The growth of the market primarily stems from the increasing occurrences of lung cancer, which may result in a greater caseload. Addressing this trend requires a focus on early detection, enhanced treatment alternatives, and concerted public health initiatives to alleviate the global burden of lung cancer. Additionally, contemporary lifestyles and dietary patterns are bolstering the expansion of this market segment.

Hospitals were the key end-users in the robotic radiotherapy market.

Based on end users, the robotic radiotherapy market is segmented into hospitals and independent radiotherapy centers.

Hospitals commanded the largest share of the global robotic radiotherapy market in 2022. The demand for radiotherapy systems among hospitals is driven by active government initiatives for effective testing, an increased number of research collaborations, and increased installation of robotic radiotherapy stations worldwide.

North America accounted for the largest share of the robotic radiotherapy market by region.

The global robotic radiotherapy market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World. North America is the largest regional market for radiotherapy products, whereas the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. The largest share of North America can be attributed to the rapid adoption of radiotherapy systems, the The presence of a robust healthcare infrastructure, a rising number of cancer patients, substantial government investment to improve access to advanced cancer care through radiotherapy, and favorable reimbursement policies in the region contribute to the situation.

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Robotic Radiotherapy Market Dynamics:

Drivers:

1. Advancements in radiation therapy technologies

Restraints:

1. Dearth of skilled radiologists/oncologist

Opportunities:

1. Growing Government and Private Investments to Meet the Increasing Demand for Cancer Treatment

Challenge:

1. High cost of automated radiation therapy systems

Key Market Players of Robotic Radiotherapy Industry:

The robotic radiotherapy market was dominated by Siemens Healthineers AG (Germany)-Varian Medical Systems, Inc. (US), Elekta (Sweden), Accuray Incorporated (US), IBA Worldwide (Belgium), and ViewRay, Inc. (US), among others.

A breakdown of the primary participants referred to for this report is provided below:

* By Company Type: Tier 1-48%, Tier 2-36%, and Tier 3- 16%
* By Designation: C-level-10%, Director-level-14%, and Others-76%
* By Region: North America-40%, Europe-32%, Asia Pacific-20%, Latin America-5%, MEA- 3%

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Robotic Radiotherapy Market - Key Benefits of Buying the Report:

The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their market presence.

This report provides insights on the following pointers:

* Analysis of key drivers (growing demand for non-invasive treatments, technological advancements, rising prevalence of cancer, growing use of automated radiation therapy for cancer treatment), restraints (lack of adequate healthcare, high cost of automated radiation therapy systems, complex nature of technology, dearth of skilled radiologist), opportunities (rising healthcare expenditure across developing countries, growing government and private investments, adoption of radiation therapy), and challenges (risk of radiation exposure, competition from alternative treatment modalities) influencing the growth of robotic radiotherapy market
* Market Penetration: Comprehensive information on the product portfolios offered by the top players in the robotic radiotherapy market
* Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the robotic radiotherapy market
* Market Development: Comprehensive information on lucrative emerging regions
* Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
* Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.

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