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The Global Radiation Therapy Market Report is a compilation of comprehensive research studies of various aspects of the Radiation Therapy Market. With accurate data and highly authentic information, a brilliant attempt is made to paint a true, transparent picture of the current and future situations of the global Radiation Therapy market. Market participants can use this powerful tool when creating effective business plans or making major changes to their strategies. The report discusses the growth of the global as well as regional markets. It also throws light on high-growth segments of the global Radiation Therapy market and how they will evolve in the years to come.
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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.. 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.
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:
By Therapy Type
By End User
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