According to Coherent Market Insights, the global radiotherapy market size is estimated to be valued at USD 7.97 billion in 2024 and is expected to surpass USD 12.86 billion by 2031, growing at a CAGR of 7.1% from 2024 to 2031.
The radiotherapy market is primarily driven by the rising incidence
and prevalence of cancer globally. According to the World Health Organization
(WHO), cancer was responsible for 10 million deaths in 2020 globally.
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Increasing investments in cancer research and
development by public and private organizations is also propelling market
growth. For instance, in 2020, the U.S. National Cancer Institute invested US$
6.2 billion in cancer research.
Technological advancements in radiotherapy such as
proton therapy and image-guided radiotherapy (IGRT) are also gaining traction.
This supports market expansion over the forecast period.
Market Trends
Expanding healthcare infrastructure and improving
reimbursement scenario for cancer treatment in developing nations such as
India, China, and Brazil are expected to introduce lucrative opportunities for
radiotherapy market players over the forecast period. According to the Indian
Brand Equity Foundation (IBEF), India's healthcare sector attracted US$ 1.29
billion worth of foreign direct investment (FDI) during the period April
2000–December 2021.
Radiotherapy Market Report Coverage
Report Coverage Details Market Revenue in 2024 $7.97 billion Estimated Value by 2031 $12.86 billion Growth Rate Poised to grow at a CAGR of 7.1% Historical Data 2019–2023 Forecast Period 2024–2031 Forecast Units Value (USD Million/Billion) Report Coverage Revenue Forecast, Competitive Landscape,
Growth Factors, and Trends Segments Covered By Product Type, By Therapy Type, By
Application, By End User Geographies Covered North America, Europe, Asia Pacific, and
Rest of World Growth Drivers • Increasing Prevalence of Cancer • Higher Efficacy of Radiotherapy Equipment
with Enhanced Clinical Outcomes Restraints & Challenges • High Cost of the Radiotherapy Devices • Stringent Regulatory Approval Process
Particle therapy or proton beam therapy is an advanced
form of external beam radiotherapy. This therapy uses protons rather than
conventional X-rays to treat cancer. It delivers a higher radiation dose to the
tumor while minimally exposing surrounding healthy tissues to radiation.
Leading players are focused on developing state-of-the-art particle therapy
centers globally to meet the growing demand.
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Market Opportunities
External beam radiation therapy (EBRT) is the most
common type of radiotherapy used for cancer treatment. It aims high-energy
beams from a machine to precisely deliver radiation to localized tumors. EBRT
is often used in combination with surgery or other treatment modalities
depending on the type and stage of cancer. With advancements in radiation technologies
like intensity-modulated radiation therapy (IMRT), EBRT allows effective
radiation doses to be delivered to tumors while minimizing radiation exposure
to surrounding normal tissues.
Internal radiation therapy or brachytherapy delivers
radiation directly to tumors from radioactive sources placed inside or near the
area that needs treatment. It provides high radiation doses to a restricted
area of the body and allows effective treatment of some cancers with minimal
injury to healthy tissues. Temporary or permanent implantation of tiny
radioactive seeds, wires, or catheters is done to deliver radiation doses to
prostate, or other internal cancers. Its localized delivery leads to good
treatment outcomes for select early-stage cancers.
Key Market Takeaways
The global radiotherapy market is anticipated to
witness a CAGR of 7.1% during the forecast period 2024-2031. This is owing to
rising incidence of cancer cases globally and growing acceptance of radiation
therapy in cancer care. On the basis of type, external beam radiation therapy
segment is expected to hold a dominant position. This is owing to its wide use
in primary as well as adjuvant cancer treatment across various stages. On the basis of application, skin & lip cancer
segment is expected to hold a dominant position over the forecast period, due
to high success rates of radiation therapy in treating these cancers. On the basis of end user, hospitals segment is
expected to hold a dominant position over the forecast period. This is due to
availability of advanced radiation therapy equipment and experienced oncology
specialists. Regionally, North America is expected to hold a
dominant position over the forecast period. This is due to supportive
healthcare infrastructure and ongoing technological advancements in radiation
oncology. Competitor Insights Ekleta AB Siemens Healthineers AG GE Healthcare Canon Medical Systems Corporation Recent Developments
Proton therapy: This therapy offers precise targeting
of tumors with minimal damage to surrounding tissues, continues to expand. The
demand for this technology is increasing, particularly in the treatment of
pediatric and complex cancers. Many companies are investing in building new
proton therapy centers globally. FLASH therapy: It is a cutting-edge technique. It
delivers radiation at ultra-high speeds. This therapy is emerging as a
promising treatment. It reduces side effects while maintaining tumor control.
In May 2023, IntraOp Medical Corporation launched Phase II trials of Electron
FLASH for treating nonmelanoma skin cancer.
There is significant progress in image-guided
radiotherapy (IGRT) and adaptive radiotherapy. This allows for real-time
imaging to adjust treatment plans based on changes in tumor size and position
during the treatment course. Companies like Varian and Elekta are leading these
innovations, enhancing precision and personalization of cancer care.
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Detailed
Segmentation- By Product
Type:
By Therapy
Type:
By
Application:
By End User:
By Region: Find Most Trending Related Reports:
The global Philippines
radiotherapy market is expected to reach US$ 33 Mn by 2030, from US$ 22.4
Mn in 2023, at a CAGR of 5.7% during the forecast period.
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