Single Dose Radiotherapy Services Market To Witness A Noteworthy Progression Over 2020-2026
Intraoperative Radiation Therapy (IORT) permits the delivery of a single dose of radiation in the course of surgical operations. This eradicates the requirement of postoperative radiation therapy. Following surgical removal of the tumor, a single high dose of radiation is delivered to the specific region which requires treatment. In this case, surrounding healthy tissues are protected.
Global Single Dose Radiotherapy Services Market: Growth Factors
The global single dose radiotherapy services market is growing at a significant rate. An increase in the prevalence of cancer, growing adoption of intraoperative radiation therapy, and favorable reimbursement policies are the major factors that are fueling the growth of the global market. Prostate cancer is the most common cancer in America. As per the prediction of the American Cancer Society for 2021, in the United States, there are approximately 248,530 new cases of prostate cancer and nearly 34,130 deaths from prostate cancer. On the other hand, as per the report from WHO, globally there were approximately 2.3 million women diagnosed with breast cancer in 2020. For the treatment of these cancers, there is massive spending which involves diagnosis, therapy, and routine follow-up. The single dose application carried out with IORT is done at the same time as the surgery.
This is significantly advantageous to the patients as there is no need to wait for the healing of the wound after surgery, or plan for radiotherapy. In addition to this, the total duration of the time is reduced and the visit to hospitals is also reduced. This makes the single dose therapy more cost-effective and improves the quality of life of patients. Thus, there is an increase in the adoption of single dose radiotherapy which in turn is spurring the growth of the global single dose radiotherapy services market. Moreover, the rise in the number of clinical trials for single dose radiotherapy for cancer treatment and heavy investments to fulfill the growing demand for cancer treatment is the factors that are boosting the growth of the global market. Furthermore, technological advancements in the radiotherapy devices and enhance the functionality of the radiotherapy delivery system may lead to several opportunities for the growth of the global single dose radiotherapy services market over the forecast period. However, the lack of skilled professionals to perform single dose radiotherapy may hamper the growth of the global single dose radiotherapy services market.
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The global single dose radiotherapy services market is affected by the outbreak of the Covid-19. The rate of adoption of single dose radiotherapy services declined during the pandemic as non-emergency cases were postponed and complete redirection of healthcare workers towards the treatment of Covid-19 patients. In addition to this, patients with low-risk cancer chose to reschedule their therapy with fear of getting infected by visiting the hospitals. This had a negative impact on the market amid the Covid-19 pandemic.
Global Single Dose Radiotherapy Services Market: Segmentation
The global single dose radiotherapy services market is segregated based on therapy, indication, service provider, and region. Based on the therapy, the global single dose radiotherapy services market is divided into internal beam radiotherapy and external beam radiotherapy. The application segment is split into prostate cancer and breast cancer. The service provider segment consists of specialized cancer institutes, radiotherapy centers, and hospitals.
Global Single Dose Radiotherapy Services Market: Regional Analysis
Region-wise, North America is projected to hold the maximum share in terms of revenue in the global single dose radiotherapy services market during the forecast period. Factors such as the rise in prevalence of breast & prostate cancer, increase in adoption of single dose radiotherapy owing to its numerous advantages, and presence of technologically advanced radiotherapy devices are augmenting the growth of the market in this region. Asia Pacific region is estimated to grow rapidly due to favorable reimbursement policies, an increase in awareness regarding the benefits of single dose radiotherapy, and an increase in the number of radiotherapy centers.
Global Single Dose Radiotherapy Services Market: Competitive Players
Some of the key participants that are operating in the global single dose radiotherapy services market are Panacea Medical Technologies, IsoRay Medical, ViewRay, Elekta, Varian Medical Systems, Ion Beam Applications, Accuray, Provision Healthcare, and Hitachi among others.
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