Radiotherapy Market Growth – at a CAGR of 3.4% by 2028

Rising of prevalence of cancer worldwide, technological advances in cancer therapies, and new product launches are among the key factors driving the global Radiotherapy market revenue growth.

Emergen Research has published its latest report titled “Radiotherapy Market, By Product (External Beam Radiotherapy), By Type (External Beam Radiotherapy, Internal Beam Radiotherapy/Brachytherapy, Systemic Radiotherapy), By Application (Prostate Cancer, Breast Cancer, Lung Cancer, Colorectal Cancer, Spine Cancer, Brain Cancer, Pediatric Cancer, Gynecological Cancer, Cervical Cancer, Penile Cancer, Head and Neck Cancer), By End-use (Hospitals, Independent Radiotherapy Centers, Others), and By Region Forecast to 2028”

According to Emergen Research, the global radiotherapy market size was USD 6.01 billion in 2020 and is expected to reach USD 7.91 billion in 2028 and register a revenue CAGR of 3.4% during the forecast period, 2021-2028.

Market Dynamics:

Steady revenue growth of the global radiotherapy market is majorly attributed to factors such as rising prevalence of cancer across the world, rapidly growing geriatric population, growing awareness among the population of early cancer diagnosis and treatment, and latest technological advances in radiotherapy for cancer treatment, such as such as development of stereotactic body radiation therapy (SBRT). According to a recent study published by the American Cancer Society, more than 1,806,590 new cancer cases emerged in the U.S. in the year 2020, while there were over 606,520 cancer deaths recorded.

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Increasing volumes of radiotherapy procedures for treatment of cancer, rising demand for external and internal beam radiotherapies, systemic radiotherapy, and particle therapy, and increasing government & private investments in cancer research & development activities are some of the other major factors expected to drive the global radiotherapy market revenue growth over the upcoming years. However, market revenue growth is hampered to some extent due to factors such as rising costs of advanced radiotherapy devices and lack of proper healthcare infrastructure, mainly in underdeveloped economies.

COVID-19 Impact Analysis:

  • Social distancing and restrictions severely disrupted businesses and operations
  • Lockdowns caused disruptions in transportation and logistics
  • Impacted manufacturing activities and mining operations globally
  • Took a toll on economy of various countries
  • Caused sudden and drastic downturn in economic activity
  • Disrupted agriculture, fisheries, dairy, and other sectors
  • Caused loss of employment and financial crisis
  • Supply impacts were further compounded owing to reduced disposable income
  • Emergence of variants  continue to cause concerns and impact normal routines

External Beam Radiotherapy Segment Accounted for Largest Revenue Share in 2020:

Based on type, the global radiotherapy market is segmented into External Beam Radiotherapy, Internal Beam Radiotherapy/Brachytherapy, and Systemic Radiotherapy. The external beam radiotherapy segment dominated other segments in terms of revenue share in the global market in 2020. Rising prevalence of cancer, rapid adoption of advanced cancer therapies, growing demand for external beam radiotherapy due to benefits such as increased precision, higher accuracy of tumor targeting, and reduced risks of radiation exposure are major factors driving the revenue growth of this segment.

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Hospitals & Clinics Segment to Account for Fastest Revenue CAGR:

Based on end-use, the global radiotherapy market is segmented into Hospitals & Clinics, Independent Radiotherapy Centers, and Others. The hospitals & clinics segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Growing prevalence of cancer worldwide, increasing availability of cutting-edge cancer treatment devices and technologies, and rapid installation of advanced radiotherapy equipment in healthcare settings such as hospitals and radiotherapy centers are some of the major factors driving the revenue growth of this segment.

North America Accounted for Largest Revenue Share in 2020:

Among regional markets, the North America radiotherapy market accounted for the largest revenue share in the global market in 2020. Key factors supporting revenue growth of the North America market are growing geriatric population, rising prevalence of cancer, increasing awareness of early cancer diagnosis and treatment among the population, rapid adoption of technologically advanced radiotherapy systems for cancer treatment, and presence of state-of-the-art healthcare infrastructure in the region.

Major Companies in the Global Radiotherapy Market Include:

  • Varian Medical Systems, Inc.
  • Elekta
  • Accuray Incorporated
  • Ion Beam Applications S.A.
  • Panacea Medical Technologies Pvt. Ltd.
  • ViewRay, Inc.
  • IsoRay Medical, Inc.
  • Provision Healthcare
  • Hitachi Ltd.
  • Mevion Medical Systems, Inc.
  • Reflexion Medical

For the purpose of this report, Emergen Research has segmented the global radiotherapy market on the basis of product, type, application, end-use, and region:

Product Outlook (Revenue, USD Billion; 2018-2028)

  • External Beam Radiotherapy Product
  • Linear Accelerators (LINAC)
  • Conventional LINAC
  • Stereotactic Advanced Electron/Cobalt-60 LINAC
  • CyberKnife
  • Gamma Knife
  • TomoTherapy
  • Particle Therapy Systems
  • Cyclotrons
  • Synchrotrons
  • Synchrocyclotrons
  • Conventional Cobalt-60 Teletherapy Units
  • Internal Beam Radiotherapy/Brachytherapy Products
  • Seeds
  • Applicators
  • Afterloaders
  • Electronic Brachytherapy Products
  • Systemic Radiotherapy
  • Iobenguane-131
  • Samarium-153
  • Rhenium-186
  • Yttrium-90
  • Radium-223
  • Phosphorous-32
  • Radio-labelled Antibodies

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

  • External Beam Radiotherapy
  • Image-guided Radiotherapy (IGRT)
  • Intensity-modulated Radiotherapy (IMRT)
  • TomoTherapy
  • Volumetric Modulated Arc Therapy (VMAT)
  • Stereotactic Therapy
  • 3D Conformal Radiotherapy (3D-CRT)
  • Particle Beam Therapy (Heavy-ion and Proton Therapy)
  • Internal Beam Radiotherapy/Brachytherapy
  • Low-dose-rate (LDR) Brachytherapy
  • High-dose-rate (HDR) Brachytherapy
  • Pulsed-dose-rate (PDR) Brachytherapy
  • Systemic Radiotherapy
  • Intravenous Radiotherapy
  • Oral Radiotherapy
  • Instillation Radiotherapy

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

  • Prostate Cancer
  • Breast Cancer
  • Lung Cancer
  • Colorectal Cancer
  • Spine Cancer
  • Brain Cancer
  • Pediatric Cancer
  • Gynecological Cancer
  • Cervical Cancer
  • Penile Cancer
  • Head and Neck Cancer

End-use Outlook (Revenue, USD Billion; 2018-2028)

  • Hospitals & Clinics
  • Independent Radiotherapy Centers
  • Others

Click on the link to read key highlights of the report and look at projected trends for years to come:   https://www.emergenresearch.com/industry-report/radiotherapy-market

Region Outlook (Revenue, USD Billion; 2018-2028)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • South Africa
    • Turkey
    • Rest of Middle East & Africa

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