GLOBAL RADIOTHERAPY MARKET SIZE AND Forecast to 2030

The global radiation oncology market is likely to be around USD 8 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 8% from 2022 to 2030. Technological advances in treatment and radiotherapy equipment are some of the main factors driving market development. Technological advancements to improve the safety and effectiveness of treatments are expected to promote the development of the radiation oncology market.

 

4D radiotherapy is a combination of 4D imaging and radiotherapy, which can monitor tumors in real time and provide accurate information about tumor size, shape, area, and volume. This combination enables doctors to compensate for organ, tumor or patient movement and manage compliant doses. Major participants also participate in strategic cooperation to advance radiotherapy. For example, in December 2019, Elekta AB cooperated with ViewRay, Inc. to promote MR-guided therapy in oncology. This collaboration aims to improve MR-Linac technology so that doctors and patients can benefit from a wider range of treatment options. However, the lack of well-trained radiotherapy professionals is one of the main factors limiting the growth of the radiation oncology market. For example, in developed countries, there are approximately 2 to 3 radiation oncologists per 1,000 cancer patients, while Bangladesh reports only 0.76 radiation oncologists per 1,000 cancer patients. The situation in India is similar. In addition, doctors in many countries lack training and education in radiation oncology. The radiation oncology market has also been negatively affected by the COVID-19 pandemic. The hospital postponed the purchase of capital goods and repurposed resources to treat COVID-19. In addition, due to the epidemic, the installation of approved equipment has also been delayed.

 

TYPE INSIGHT: The external beam radiotherapy (EBRT) segment occupies a dominant position in the radiation oncology market. Due to the relatively high equipment price and the high installed base of external beam radiotherapy equipment, it will occupy the largest revenue share in 2020. 79.3%. EBRT is the most widely used form of radiation therapy. Compact advanced radiotherapy systems, such as Gamma Knife and Cyberknife, have a wide range of applications. Gamma knife is commonly used to treat brain tumors. It uses high-intensity cobalt radiation to concentrate the radiation into a small volume. According to Elekta AB, by 2018, 1.1 million people have received Gamma Knife treatment, and 330 Leksell Gamma Knife clinical units are distributed in 54 countries/regions. Due to factors such as shorter hospital stays and faster recovery, brachytherapy is likely to gain a large share of the radiation oncology market in the prognosis period. In addition, the development and approval of new brachytherapy devices for the treatment of various cancers is expected to drive the growth of this market segment. For example, in January 2019, GT Medical Technologies received US FDA approval for GammaTile therapy. GammaTile therapy is specially developed for the treatment of brain tumors. It uses a cesium 131 radiation source.

 

TECHNOLOGY INSIGHTS : The IMRT technology division dominates the radiation oncology market and will account for the largest revenue share of 25% in 2020. IMRT can change the intensity of radiation during treatment to specifically target cancer cells and limit damage to nearby healthy tissues. Linear accelerators are used to provide a certain dose of radiation to the exact size of the tumor. Due to its excellent reliability and the ability to customize radiation therapy beams for complex tumor sites, this technology dominates the radiation oncology market in 2020. In July 2019, the Swiss Medical Network purchased the Radixact system, which is an Intensified Radiotherapy Modulation and Image Guidance (IG-IMRT), developed by Accuray, Inc., to provide a high-precision radiology system for treating patients.

 

APPLICATION INSIGHT: The adoption of these precision systems by hospitals is expected to promote the development of the radiation oncology market. Due to the efficient and supportive awareness program, share in 2020. In addition, due to the increase in the prevalence of lung cancer, the number of patients treated with EBRT for lung cancer is expected to grow the fastest. According to the International Agency for Research on Cancer, the incidence of lung cancer is expected to increase by 21 million by 2020 to 2.9 million. By 2030. Radiation therapy is used to treat NSCLC and SCLC. It can be used with chemotherapy or after or before surgery. Brachytherapy is used to treat gynecology, breast cancer, lung cancer, penile cancer and other cancers. IBRT for prostate cancer treatment accounted for the highest proportion in 2020.

 

KEY COMPANIES AND PARTICIATION: In the insightsthe market Key companies are adopting strategies such as mergers and acquisitions and associations, to acquire greater market share, worldwide. In August 2020, Siemens Healthcare GmbH announced its plans to acquire Varian Medical Systems, Inc. for USD 16.4 billion. The agreement is expected to be completed by H1 2020. Some of the outstanding players in the radiation ontology market include: Varian Medical Systems, Inc.Elekta Incorporation beam applications Abaccury (IBA) C.R. Bard, Inc. (BD) Isorry MedicalMevion Medical Systems, Inc.Nordion Inc.NTP RadioIsotopes SO SOC LTD.CURIUX PHARMAVIEWRAY TECHNOLOGIES, INC.

 

THE SEGEMENT COVERED IN THE SEGMENT : Provide for the growth of income at global, regional levels and provides an analysis of the latest industry trends in each of the sub-segments of 2017 to 2028. For the purpose From this study, Gran Vista's research has segmented the report of the global radiation oncology market on the basis of type, technology, application, region: Outlook type (income, millions of dollars, 2022-2030) accelerators Radiation of external beam radiation (LINAC) Advanced radiotherapy system compacts cyberknif Eggamma, Knifetomo therapera Proton CyClotron SynchronTonnal Radiotherapy Terrapiperapy Reapas Applicates System Made radiation therapy Prospects of technology (income, millions of dollars, 2022-2030) Radiation therapy radiotherapy radiotherapy (IGRT) of radiotherapy radiotherapy (IMRT) radiotherapy (IMRT) of the RAD Stereotactic Iharapy (IMRT), Voluminetral Modulated Arc Therapy (VMAT) Stereotactic Radiotherapy (VMAT) RAPYLOW-DOSE BrachyTherapyTherapyThigh-Dose of BrachyTherapyApplication Perspective (Revenue, Millions of Dollars, 2022-2030."

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

.