Global Radiation Therapy Equipment Market 2019-2023 | Advances in Technology Drive Growth | Technavio
LONDON--(BUSINESS WIRE)-- Technavio analysts forecast the global radiation therapy equipment market to grow at a CAGR of nearly 7% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global radiation therapy equipment market from 2019-2023. (Graphic: Business Wire)
The advances in technology is one of the major trends in the global radiation therapy equipment market 2019-2023. Technology plays a vital role in the development of medical devices by enhancing the precision rate of devices. This helps in providing a higher success rate and increases the usability of devices. Vendors have been focusing on developing innovative and superior technologies and equipment to overcome the shortcomings of the old systems. Hence, they are introducing new radiation therapy equipment as well as launching upgraded products, which help to provide better operability and results.
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According to Technavio analysts, one of the key factors contributing to the growth of the global radiation therapy equipment market is the rise in the prevalence of cancer:
Global radiation therapy equipment market: Rise in prevalence of cancer
The demand for radiation therapy equipment is growing with the increasing number of cancer cases. The risk factors for cancer include lifestyle changes, rise in the aging population, environmental factors, genetics, urbanization associated with pollution, and changing diet patterns.
According to a senior research analyst at Technavio, “One in three individuals develop some form of cancer during their lifetime. Over 200 different types of cancer are being diagnosed every day. Consequently, the demand for radiation therapy equipment is increasing due to the increasing number of cancer patients globally as survivors of cancer require radiotherapy for treatment.”
Global radiation therapy equipment market: Segmentation analysis
The global radiation therapy equipment market research report provides market segmentation by product (external and internal) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The external segment held the largest radiation therapy equipment market share in 2018, accounting for about 87% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2018, followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2019-2023.
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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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Source: Technavio Research