Image-Guided Radiation Therapy Market to Reach $3.3 Billion, Globally, by 2033 at 5.7% CAGR | Elekta AB, Accuray Incorporated, ViewRay, Inc., Philips Healthcare, Varian Medical Systems

According to the report, the image-guided radiation therapy market was valued at $1.9 billion in 2023, and is estimated to reach $3.3 billion by 2033, growing at a CAGR of 5.7% from 2024 to 2033.

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Image-guided radiation therapy (IGRT) is experiencing significant growth due to several key drivers such as technological advancements in imaging modalities such as MRI, CT, and PET have greatly enhanced the precision and accuracy of radiation delivery, allowing for more targeted treatment of tumors while minimizing damage to surrounding healthy tissue. For instance, the integration of MRI-guided radiation therapy systems such as the ViewRay MRIdian system enables real-time visualization of tumors during treatment, leading to improved outcomes.

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IMRT driven by its precision and effectiveness in targeting tumors while sparing surrounding healthy tissues. This advanced technique allows for the modulation of radiation doses to conform to the three-dimensional shape of the tumor, resulting in fewer side effects and improved patient outcomes. The increasing prevalence of cancer and the rising demand for minimally invasive treatment options further bolster the growth of the IMRT segment.

Stereotactic therapy, another significant segment, is gaining traction due to its ability to deliver high doses of radiation with pinpoint accuracy over a few sessions. This method is particularly beneficial for treating small to medium-sized tumors in sensitive areas such as the brain, spine, and lungs. The technological advancements in imaging and treatment planning systems enhance the effectiveness of stereotactic therapy, making it a preferred choice for patients and healthcare providers alike.

Particle therapy, which includes proton and carbon ion therapy, represents a growing segment due to its superior precision and reduced side effects compared to conventional radiation therapies. Proton therapy, in particular, is noted for its ability to deliver high doses of radiation to tumors while minimizing damage to surrounding tissues. The high initial investment and operational costs are offset by the clinical benefits and increasing adoption of particle therapy centers worldwide.

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Regional Outlook

North America to maintain its dominance by 2033

North America held the highest market share in terms of revenue in 2023, owing to rise in prevalence of chronic disease cases, presence of key players offering image radiation therapy products, ease of availability, and developed healthcare infrastructure drive the growth of the market. However, emerging countries are experiencing a surge in healthcare spending as economies develop and populations increase. This increased investment in healthcare infrastructure, technology, and services creates a conducive environment for the adoption of image-guided radiation therapy devices.

Key Players:

Varian Medical Systems Inc.
Elekta AB
Accuray Incorporated
ViewRay Inc.
Siemens Healthineers AG
Hitachi Ltd.
Brainlab AG
Mevion Medical Systems Inc.
C-RAD AB
Sumitomo Heavy Industries Ltd.

The report provides a detailed analysis of these key players in the global image-guided radiation therapy market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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This release was published on openPR.