Radiotherapy Market Size, Developments Status, Trends and Key Players Analysis, Forecast 2028

Market Size – USD 6.50 Billion in 2020, Market Growth – at a CAGR of 6.9%, Market Trends- Rapid advancements in radiotherapy

NEW YORK, NY, UNITED STATES, March 24, 2022 /EINPresswire.com/ -- The global radiotherapy market is expected to reach USD 11.08 Billion in 2028 and register a revenue CAGR of 6.9% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth are rising prevalence of cancer types such as breast cancer, prostate cancer, lung cancer, skin and lip cancer, and colorectal cancer across the globe, rising awareness about early detection of cancer and radiation therapy, and ongoing research on developing enhanced radiation therapy equipment. 

Radiotherapy, also called radiation therapy, is an efficient treatment approach for destroying malignant cells and reducing growth of the tumor. Radiation therapy includes use of high radiation doses to kill cancer cells by damaging DNA. Malignant cells with damaged genetic material lose the ability to multiply and die eventually. Radiation therapy does not destroy cells right away, it can take few weeks to months of treatment. Type of radiation therapy mainly depends on type of cancer, tumor size, exact location in the body, overall health, age, and medical conditions. However, healthy cells are also destroyed during the treatment leading to some short-term and long-term side effects. Factors driving global market revenue growth are increasing adoption of latest radiation therapy equipment in hospitals and ambulatory care services, growing use of particle therapy for treating cancer, improving healthcare infrastructure, and rising disposable income. Increasing awareness programs about importance of radiation therapy by various organizations to reduce fear and stigma among people and high focus on developing advanced systems are expected to fuel global market revenue growth going ahead. 

However, factors such as lack of well-trained healthcare professionals to operate advanced radiation therapy systems, high capital investment and high maintenance cost, and after effects of radiation therapy such as fatigue, nausea, skin problems, loss of appetite, and diarrhea, among others are factors that could hamper market revenue growth during the forecast period.   

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Market Overview:

The pharma and healthcare industry is rapidly expanding in terms of revenue over the last few years and is expected to register significant revenue growth over the forecast period of 2028. Rapid advancements in the healthcare sector, rapid growth in the medical and healthcare sectors, availability of latest equipment and tools, rising healthcare expenditure and improvements in healthcare infrastructures are some key factors driving global market revenue growth. In addition to this, increasing investments in research and development activities, rising prevalence of various diseases and dearth of medications and hospitals during the ongoing COVID-19 pandemic are boosting market growth. Increasing number of funds by public and private sectors, rising adoption of point-of-care diagnosis and home settings, high demand for precision medicine and ongoing research on drug discovery are also expected to fuel market growth going ahead.

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Competitive Landscape

The report sheds light on the competitive landscape of the global Radiotherapy market and details about each market player, global position, financial standing, license agreement, and product and service portfolio along with business expansion plan. Major players are investing in research and development activities to develop and launch new products and services and are also focusing on adopting key strategies such as mergers and acquisitions, partnerships, joint ventures and collaborations to strengthen their market position and enhance their product base.

Leading companies operating in the global Radiotherapy market include:

Varian Medical Systems, Inc., Elekta, Accuray Incorporated, Ion Beam Applications SA, Eckert & Ziegler, Hitachi Ltd., ICAD, Inc., IntraOp Medical, Inc., IsoRay Medical, Inc., Mevion Medical Systems, Inc., Panacea Medical Technologies Pvt. Ltd., P-cure Ltd., ViewRay, Inc., ZEISS Group, C4 Imaging LLC, Optic Proton Therapy Inc., GE Healthcare Inc., and Siemens Healthineers AG are some key players profiled in the global radiotherapy market report.

Global Radiotherapy market segmentation:

Type Outlook (Revenue, USD Billion, 2018-2028)

External Beam Radiotherapy
3D Conformal Radiation Therapy  
Intensity-Modulated Radiation Therapy (IMRT)  
Image-Guided Radiation Therapy (IGRT)  
Chemotherapy  
Stereotactic Radiosurgery  
Others  
Internal Beam Radiotherapy/Brachytherapy  
High dose Rate Brachytherapy  
Low doss Rate Brachytherapy  
Pulse dose Rate Brachytherapy  
Systematic Radiotherapy

Application Outlook (Revenue, USD Billion, 2018-2028)

Breast Cancer  
Head and Neck Cancer
Prostate Cancer  
Lung Cancer  
Colorectal Cancer  
Skin and Lip Cancer  
Cervical Cancer  
Others 

End Use Outlook (Revenue, USD Billion, 2018-2028)

Hospitals  
Ambulatory & Radiotherapy Centers  
Academic & Research Institutes  
Others

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Regional analysis covers:

North America
U.S.
Canada
Mexico
Europe
Russia
U.K.
Germany
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
Israel
Rest of MEA

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