Radiotherapy Market Size, Share, Growth Report 2030

Radiotherapy Market Size And Industry Analysis

The global Radiotherapy market accounted for USD 6.9 Billion in 2020 and is expected to reach USD 11.9 Billion by 2028, growing at a CAGR of 7.1% from 2021 to 2028.      

Radiotherapy is a treatment for cancer that uses radiation, usually X-rays, to treat illness. Radiotherapy is also sometimes used to treat benign tumors and other conditions, such as thyroid disease and some blood disorders. Radiotherapy is used alone or in combination with chemotherapy (chemoradiotherapy) to treat cancer. Radiotherapy is effective in controlling symptoms of cancer. Radiotherapy may be used before surgery or after surgery to destroy small tumor cells that may be left. Radiotherapy can be external, internal or systemic.

The players are focusing aggressively on innovation, as well as on including advanced technologies in their existing Products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development. For example, in 2020, Elekta (Sweden) introduced its Elekta Harmony linear accelerator, a cancer treatment system with a shorter treatment slot of up to 25% and a 30% smaller footprint. In 2020, PMB, a subsidiary of the ALCEN Group, announced the launch of FLASHKNiFE, a FLASH radiotherapy system dedicated to clinical trials.

COVID-19 Impact Analysis:

The lockdowns imposed by various countries to contain the spread of Covid-19 has impacted the global operations and supply chain which had a negative consequences on Radiotherapy market as the global sales declined. As healthcare professionals increasingly direct their resources towards caring for coronavirus-infected patients, other health issues are being relegated to the back seat. The players in the industry have temporarily suspended the production of Radiotherapy products in order to cater corona virus patients.

The normal decrease in the global Radiotherapy market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.  

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Growth Factors  

Global radiotherapy market is primarily driven by growing incidences of cancer across the globe. Other major driving factors are increasing geriatric population and large government funding. However, lack of infrastructure and lack of skilled personnel and training are the major restraints that may limit the growth of the market. Nonetheless, technological advancements in radiotherapy products coupled with a huge investment in radiotherapy across the globe are likely to disclose the new avenues for radiotherapy market in the near future.

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Product Segment Analysis Preview

On the basis of Product, the market is segmented into external beam radiation therapy, internal radiation therapy (brachytherapy), and systemic radiation therapy. External beam radiation therapy is further sub-segmented into compact advanced radiotherapy systems (Cyberknife, Gamma knife, and Tomotherapy), proton therapy systems (Cyclotron and Synchrotron) and electron emitting high energy linear accelerators (Linac). Internal radiation therapy is further sub-classified into seeds, applicators & after leaders and electronic brachytherapy. External beam radiation therapy holds a maximum share of global radiotherapy market.  

Technology Segment Analysis Preview

On the basis of Technology, Radiotherapy market is segmented into external beam radiation therapy (Image-Guided Radiotherapy (IGRT), Intensity Modulated Radiotherapy (IMRT), Stereotactic Technology, Proton Beam Therapy, Tomotherapy, 3D Conformal Radiotherapy (3D CRT) and Volumetric Modulated Arc Therapy (VMAT)), internal radiation therapy (Low Dose Rate and High Dose Rate), and systemic radiation therapy.

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Application Segment Analysis Preview  

On the basis of Application, the market is segmented into external beam radiation therapy, and Internal radiation therapy. External beam radiation therapy is classified into prostate cancer, breast cancer, lung cancer, head & neck cancer, colorectal cancer and other. Internal radiation therapy is classified into prostate cancer, gynecological cancer, breast cancer, penile cancer and other.

Regional Segment Analysis Preview

North America is anticipated to remain the leading region over the forecast period followed by Europe. Demand for radiotherapy was highest in North America especially in the U.S. Asia Pacific is expected to be the moderate growing region in radiotherapy market during the forecast period. Moreover, the Middle East and Africa and Latin America are also expected to show moderate growth for this market in the years to come.

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Key Market Players & Competitive Landscape

The major players operating in the Radiotherapy market are Elekta AB, Varian Medical Systems, Accuray Incorporated, IBA Worldwide, IsoRay Medical, Inc., Nordion, Inc., Raysearch Laboratories, Mevion Medical Systems, Mitsubishi Electric Corporation and C. R. Bard, Inc. among others.

The global Radiotherapy market is segmented as follows:   

By Product

• External beam radiation therapy
• Compact Advanced Radiotherapy Systems
  • • Cyberknife
    • Gamma Knife
    • Tomotherapy
• Proton Therapy Systems
  • • Cyclotron
    • Synchrotron
• Electron Emitting High Energy Linear Accelerators (Linac)
• Internal Radiation Therapy/Brachytherapy
  • Seeds
  • Applicators & Afterloaders
  • Electronic Brachytherapy
• Systemic Radiation Therapy

By Technology  

• External Beam Radiation Therapy
  • Image-Guided Radiotherapy (IGRT)
  • Intensity Modulated Radiotherapy (IMRT)
  • Stereotactic Technology
  • Proton Beam Therapy
  • Tomotherapy
  • 3D Conformal Radiotherapy (3D CRT)
  • Volumetric Modulated Arc Therapy (VMAT)
• Internal Radiation Therapy
  • Low Dose Rate
  • High Dose Rate
• Systemic Radiation Therapy

By Application

• External Beam Radiation Therapy
  • Prostate Cancer
  • Breast Cancer
  • Lung Cancer
  • Head & Neck Cancer
  • Colorectal Cancer
  • Other
• Internal Radiation Therapy
  • Prostate Cancer
  • Gynecological Cancer
  • Breast Cancer
  • Penile Cancer
  • Other

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa