Global Teletherapy Machines Market Analysis, Trends and Forecast by 2017 - 2025
Rising demand for technologically advanced treatments for vital disorders, and increasing investment of manufacturers in the R&D of medical devices are major factors that are estimated to boost the teletherapy machines market during the forecast period. However, high cost of the instruments is considered to be a major restraint for the teletherapy machines market during the period 2017 to 2025.
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The global teletherapy market can be segmented into product type applications. In terms of product type, the global teletherapy machines market can be segmented into image guided radiation therapy (IGRT), intensity modulated radiation therapy (IMRT), respiration gated radiation therapy, stereotactic radiotherapy, and others. The stereotactic radiotherapy segment can be further sub-segmented into gamma knife and proton beam radiosurgery. In terms of revenue, the stereotactic radiotherapy segment accounted for a prominent share of the market in 2016 due to the rising demand for non-invasive surgical procedures. The gamma knife segment dominated the teletherapy machines market in terms of revenue in 2016, and is anticipated to maintain its dominance during the forecast period. The dominance is attributed to its ability to spare the normal & healthy cells of the body, destroying the unhealthy tumors only. However, the Image guided radiation therapy (IGRT) & proton beam radiosurgery segments are projected to expand at a significant CAGR during the forecast period due to the rising prevalence of cancer worldwide and increasing investment by public & private players in the healthcare sectors of the developing economies.
In terms of application, the global teletherapy machines market can be segmented into breast cancer, lung cancer, colorectal cancer, head & neck cancer, prostate cancer, and others. The lung cancer & colorectal cancer segments together accounted for more than half of the market share in 2016 due to the painless procedure of teletherapy and rising adoption rate of this radiation therapy by the population and physicians. However, rising prevalence of breast cancer at a global level is expected to fuel the rapid expansion of the breast cancer application segment by 2025. The lung cancer segment is anticipated to maintain its dominance of the market during the forecast period due to the excellent penetration ability of the radiation by teletherapy machines.
In terms of geography, the global teletherapy machines market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of revenue, North America led the market in 2016, which is attributed to the precision and accuracy of the teletherapy machines to deliver a specific amount of radiation to the unhealthy area of the body. Government participation for the prevention and control of the rising incidence of cancer is a major factor estimated to fuel the rapid expansion of the teletherapy machines market in Asia Pacific during the forecast period. However, North America is likely to maintain its dominance in the global teletherapy machines market during the forecast period due to the rising per-capita expenditure of the population on the healthcare sector.
Prominent players operating in the global teletherapy machines market include Varian Medical Systems Inc., Mitsubishi Electric Corporation, Elekta AB, Mevion Medical Systems, BARD, Accuray Incorporated, IBA Worldwide, and RaySearch Laboratories.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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