Radiation Therapy Market 2022-2030 Business Trends

A latest report from Absolute Markets Insights covers insights into the global Radiation Therapy market. This comprehensive report offers insights into the market, models and drivers of business growth. Also includes Radiation Therapy market share, sales volume and education charts. Research analysts have combined important and additional information, such as commitments from market leaders, into a well-crafted report. This report is an essential insight into strategies and information and is primarily aimed at business leaders. The main objective of this Radiation Therapy report is to provide industry knowledge and help our clients achieve natural growth in their respective fields. The Radiation Therapy report also shows a new uptrend that includes market conditions and market forecast 2022-2030.

Some of the major players operating in the global Radiation Therapy market include: Accuray Incorporated, Elekta AB, Hitachi, Ltd, IBA Worldwide, IntraOp Medical, Inc., Mevion Medical Systems., Nordion (Canada) Inc., Panacea Medical Technologies Pvt. Ltd, Provision Healthcare, Radiology Oncology Systems, Sensus Healthcare, Varian Medical Systems, Inc., VIEWRAY TECHNOLOGIES, INC. and ZEISS Medical Technology amongst others.

In terms of revenue, global radiation therapy market was valued at US$ 5506.01 Mn in 2022 and is anticipated to reach US$ 9551.47 Mn, growing at a CAGR of 6.4% over the forecast period.

The competitive landscape of the market study contains a broader analysis of the regions including North America, Europe, Asia-Pacific, Middle East and Africa, Latin America, which are expected to capture the essence of the market in its broadest category. The list encompasses significant players who manage the sector based on the system’s overall production capabilities, environmental contributions, appropriate channels, and territorial proximity through a system of primary and secondary research methodologies followed by an in-house analytical model. Furthermore, the generated income and a generalized market share for the market is presented with the help of graphs, charts and tables.

Furthermore, the report also contains important collaborations, mergers and acquisitions, key market trends and business policies are evaluated. The study contains primary and secondary information pertaining to the Radiation Therapy Market in terms of its global status, market size, growth forecasts, trends, segments, and a detailed forecast.

Key insights from the report:

  • The report provides key statistics on the market status of Radiation Therapy Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
  • The report provides a basic overview of the industry, including its definition, applications and manufacturing technology.
  • The report features the company profile, product specifications, capacity, production value and market share 2022-2030 for the top vendors.
  • The total market is further divided by company, by country and by application/type for the analysis of the competitive landscape.
  • The report then estimates the 2022-2030 market development trends of the P2P Loans industry.
  • Analysis of upstream raw materials, downstream demand and current market dynamics is also performed.
  • The report makes some important proposals for a new project of Radiation Therapy Market before evaluating its feasibility.

Covid-19 cumulative impact:

This study presents insights into COVID-19 on consumer behavior and changes in demand, purchasing patterns, supply chain reorganization, dynamics of market forces, and substantial government involvement. The new research provides insights, analysis, estimates and predictions in light of the effect of COVID-19 on markets. The Radiation Therapy Market report provides a solid observation on the prominent players in terms of strategic analysis, micro and macro market trends and opportunities, pricing trends, and a generalized overview of the market. The Radiation Therapy Market is a detailed study packed with primary and secondary market factors, market share, leading segments and a proper geographic analysis.

Key questions answered in this report:

  • What will the market size and growth rate be in 2030?
  • What are the key drivers of the global market?
  • What are the key market trends impacting the growth of the global market?
  • What are the market growth challenges?
  • Who are the key vendors in the global market?
  • What are the global market opportunities and challenges for sellers?
  • What are the key findings of the global five-point analysis of the Radiation Therapy market?

The increasing adoption of digitalization in radiation therapy equipment has led to creation of treatment techniques which preserve healthy tissue and reduce toxicity in patients, thus driving the growth of radiation therapy market.

The growing urban population has fostered sedentary lifestyle leading to high prevalence of diseases. Medical professionals are continuously striving to develop innovative treatment techniques for enhancing patient outcomes. Radiation therapy is a fast emerging treatment modality which uses high-energy particles from either an external machine or a radioactive substance inserted inside patient’s body to kill the harmful cells. This therapy is used in treatment of various diseases such as cancer, thyroid disease, blood disorders, noncancerous growths such as acoustic neuroma, arteriovenous malformation and many others. However, the high energy beams are prone to damaging healthy cells along with harmful ones, which creates demand for advanced solutions for improving quality of treatment. Major market players have incorporated digital systems in their offerings for better visualization and treatment. For instance, the digital linear accelerators of Elekta AB uses a wide range of delivery techniques for controlling the dosage rate and ensures maximum patient safety. Similarly, the ONCOR digital linear accelerator of Siemens rotates around the patient for monitoring the tumor and delivers radiation dosage only when the tumor is in right place, which ensures effective dosage without additional risk of side effects. These advanced digital solutions are transforming the traditional care systems and thus, driving the growth of global radiation therapy market.

Safe and effective radiation therapy requires trained staff, dedicated equipment and a highly coordinated operational department. This high complexity associated with equipment handling is hindering the growth of global radiation therapy market. However, in order to overcome the challenges associated with skilled staff for radiation therapy, many governmental organizations and hospitals are initiating training programs for radiologists. For instance, the Atomic Energy Regulatory Board Radiological Safety Division of India, National Cancer Institute of the U.S., Tata Memorial Centre and many others are providing radiotherapy technologists courses and funds for training of medical professionals. These programs are anticipated to overcome the challenges of unskilled labour and complexity in handling in global radiation therapy market.

Researchers are exploring use of 4D imaging, artificial intelligence and many other such technologies to increase the efficiency of radiation therapy treatment. Medical professional have been using conventional simulators or computerized tomography (CT) for screening of patients to gather information of body surface contours, tissue thickness and tissue deficiencies. However these methods are prone to error and are time consuming. To eliminate the errors of traditional simulators, researchers are studying the use of 4D imaging system for accurate estimation of tissue motion pattern and range for radiation therapy of moving targets. For instance, physicists from the Institute of Cancer Research, U.K and the Royal Marsden National Health Service Foundation Trust published a research study in May 2018, which demonstrates use of a 4D Magnetic resonance imaging (MRI) to accurately locate tumors and deliver more precise radiotherapy for patients. Artificial intelligence is another technology witnessing high popularity for optimizing radiation therapy planning. For instance, Varian Medical Systems, Inc. received a clearance from the U.S Food and Drug Administration in February 2020 for its Ethos therapy, which uses artificial intelligence along with CT imaging to create adaptive treatment plan in 15-minutes duration. Thus, the ongoing incorporation of advanced visualization and processing technologies are anticipated to propel the growth of global radiation therapy market in future years.

The recent outbreak of COVID-19 pandemic has infected more than 33 million people across the globe. This pandemic has created high demand for effective treatment method which has fuelled number of research activities across the globe. Researchers from Memorial Sloan Kettering Cancer Center of U.S, University of Alberta of Canada and others are exploring use of radiation therapy in treatment of COVID-19 patients. The patients infected with coronavirus often show cytokine storm, which can be treated through ultra-low-dose radiation therapy. This research activities aimed at treating COVID-19 patients with radiotherapy are expected to fuel the growth of global radiation therapy market.

Global Radiation Therapy Market Segmentation:

Global Radiation Therapy Market By Offering (Products/Equipment (Imaging Systems, Linear Accelerator, Radio Therapy Simulators, Radioactive Seeds, Applicators & Afterloaders, Others), Services (Implementation And Installation, Training And Education, Support Services, Others)); By Therapy Type (External Beam Radiation Therapy (3-D Conformal Radiation Therapy (3D CRT), Intensity-Modulated Radiation Therapy (IMRT), Image-Guided Radiation Therapy (IGRT), Stereotactic Body Radiation Therapy, Volumetric Modulated Arc Therapy (VMAT), Others), Internal Beam Radiation Therapy (Brachytherapy Treatment (Low-Dose Rate (LDR) Brachytherapy, High-Dose Rate (HDR) Brachytherapy), Systemic Radiation Therapy, Radioimmunotherapy (RIT), Others)); By Application (Breast Cancer, Eye Cancer, Prostate Cancer, Cervix Cancer, Lung Cancer, Head And Neck Cancer, Colorectal Cancer, Penile Cancer, Intracranial Cancer, Pancreatic Cancer, Vaginal Cancer, Others); By End User (Hospitals, Clinics, Specialty Cancer Centers, Others); By Region (U.S., Canada, Mexico, Rest Of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest Of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest Of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest Of Middle East & Africa, Brazil, Argentina, Rest Of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends And Forecast, 2022 – 2030

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