Global Radiotherapy Market Overview
Radiotherapy is also known as radiation therapy in which high doses of radiation are used for cancer treatment, either by killing the cancer (malignant) cells or for tumor shrinking. It uses x-rays or specific electrons for disease treatment and has its applications in the treatment of early stage Dupuytren's disease and Ledderhose disease as well. This therapy can be used in either controlling or killing of the malignant cells as part of cancer treatment. These applications of radiotherapy are expected to propel the growth of the global radiotherapy market considerably over the forecast period i.e. 2019-2027.
Market Size & Forecast
The radiotherapy market is anticipated to record a CAGR of 6.6% over the forecast period. Increasing healthcare expenditure on the back of growing disposable income, rapid technological advancements along with high prevalence of cancer is expected to drive the radiotherapy market significantly across the globe. Further, expanding healthcare infrastructure accompanied with rising R&D activities is expected to propel the radiotherapy market during the forecast period.On the basis of regional platform, the global radiotherapy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
With a well-developed healthcare sector across the region, North America radiotherapy market is panned to observe substantial growth due to 21.0% of cancer incidence rate across the region as per reported by WHO. The market in Europe is expected to induce a budding growth on the back of high cancer incidence rates contributing to 23.4% of the global incidences with a low patient density across the region as reported by the World Health Organization.
Asia Pacific is expected to drive demand and positively impact the growth of the market on account of increasing health expenditure across the countries such as India, China, Japan and others along with a high prevalence rate of cancer across the region. According to the reports of WHO, 57.3% of the cancer deaths were reported across Asia in 2018.
Growth Drivers & Challenges
On the back increasing Cancer Population
Rising number of present as well as geriatric population suffering from various types of cancers has been on a rise. The WHO reported that cancer was the second leading cause of death around the globe with an estimated 9.6 million deaths over the year 2018. It is estimated that around 1 in 6 deaths globally, occurs due to cancer. The International Agency for Research on Cancer (IARC) estimated that the global cancer burden rose to 18.1 million new cases in the year 2018. This rise in the number of cancer cases have been primarily attributed to the changing prevalence of certain causes of cancer linked to social and economic development in rapidly growing economies. The WHO reported that the lung cancer and the female breast cancer were the leading types of cancer in terms of the number of new cases around the world; with approximately 2.1 million diagnoses estimated in 2018, contributing about 11.6% of the total cancer incidence burden. Colorectal cancer with 10.2% of the total cases is the third most commonly diagnosed cancer, prostate cancer as the fourth and stomach cancer as the fifth most identified type of cancer around the world. This increase in the prevalence rate of different types of cancers is estimated to boost the growth of the radiotherapy market over the forecast period.
Range of Healthcare Applications
The applications of radiotherapy as palliative therapy to shrink the size of tumor, for primary cancer treatment as well as for adjuvant therapy after chemotherapy or surgery are expanding. These applications are estimated to sturdily drive the market during the forecast period. Additionally, the use of radiotherapy in immunotherapy, in combination with surgery and chemotherapy are attributed to push the market robustly across the globe. Moreover, according to the statistics of the year 2015 by the Global Health Observatory (GHO), the number of premature deaths due to cancer is anticipated to surge by 2030 by 44%. This rise in number is estimated to increase the demand for radiotherapy over the forecast period.
Various associated major and minor Side-effects
However, the side effects of radiation therapy can range from dry mouth, mouth and gum sores, difficulty while swallowing, stiffness in the jaw, nausea, hair loss to diarrhea, rectal bleeding, lowered sperm counts, changes in menstruation, infertility and others. Thus, the probability of such mild to serious health side effects caused by radiotherapy are estimated to reduce its rate of adoption during the forecast period, serving as a restraining factor behind the growth of the market.
Market Segmentation
Our-in depth analysis of the global radiotherapy market includes the following segments:
By Product Type
- Electron-Emitting High-Energy Linear Accelerators (LINAC)
- Compact Advanced Radiotherapy Systems
- CyberKnife
- Gamma Knife
- Tomotherapy
- Proton Therapy
- Cyclotron
- Synchrotron
- Brachytherapy
- Seeds
- Applicators and Afterloaders
- Electronic Brachytherapy
- Systemic Beam Radiation Therapy
- Others
By Therapy Type
- External Beam
- Internal Beam
By End-User
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Others
By Region
Global radiotherapy market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- 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 & Opportunity Analysis
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Top Featured Companies Dominating the Market
- Vision RT Ltd.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Shenzhen GeneMDx Biotech. Co., Ltd.
- IntraOp Medical, Inc.
- Eckert & Ziegler
- Theragenics Corporation
- C.R. Bard, Inc.
- Varian Medical Systems, Inc.
- Accuray Incorporated
- Nordion, Inc.
- IsoRay, Inc.
- Other Prominent Players
