Market Overview –
By the end of the projection year, the global radiotherapy market will be worth $9641.89 million (a CAGR of 5.49%).
Radiotherapy, or radiation therapy, is frequently use to treat cancer. Two distinct dosages exist. Similar to dental x-rays, low-dose radiation therapy allows doctors to see inside the body.
Rising cancer rates, an ageing population, widespread acceptance of radiation therapy as a viable treatment option, and publicity touting its benefits have all contribute to a surge in recent years in the number of people seeking radiation treatment. Improvements in radiation therapy machinery enable by technological progress. The radiation therapy business could expand more if it weren’t for a dearth of qualifies workers and the difficulty of visualizing tumor’s.
The previous decade has seen significant technological advancements that have results in more accessible, affordable, and efficient cancer treatments. The development of real-time imaging has reduce the needless destruction of healthy tissue, enhance the ability to monitor and manage tumor’s, and stimulate economic development in many countries. The global market for radiation therapy is being propeller by rising standards of living and consumer spending.
COVID 19 Analysis –
Radiotherapy is only one area of medicine that has seen a significant drop in demand as a result of the global COVID 19 epidemic. A global pandemic has results in a 20% increase in the number of cancer patients due to the postponement of various surgeries as the government prioritises providing aid to those with chronic obstructive pulmonary disease (COPD). The PPE (personal protection equipment) kit’s declining market share can be attribute in part to new regulations requiring its reduce use.
Market Dynamics –
The success of radiotherapy treatments has prompter the creation of a number of events, including conferences and symposia, in recent years. At such occasions, there is a heightener focus on educating the public about the many benefits of radiotherapy as a treatment option for cancer. As an example, Portugal is set to host the 6th World Congress on Cancer in September 2022. The 6th Cancer World Congress 2022 will focus on personalize cancer diagnosis and therapy, whereas the 5th Global Cancer Summit – 2022 (GCS-2022) was hostel virtually in May 2022 by BioGenesis Health Cluster, Bangalore and Global Cancer Foundation.
Market Scope and Market Size –
The global market for radiotherapy can be broken down into a number of submarkets base on the different types of radiotherapy offers. Due to its widespread use in the treatment of cancers such as breast, lung, prostate, colorectal, lymphoma, liver, thyroid, brain, cervical, and spinal, the external-beam radiation therapy segment is projects to lead the market in 2022. Since it directs high-energy rays from outside the body directly into the tumour, external-beam radiation therapy is a popular form of radiation therapy for treating cancer. Furthermore, outpatient visits to the treatment centre or hospital are the norm for external-beam radiation therapy.
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The rising demand for external-beam radiation therapy devices like LINACs, proton therapy, cyberknives, and gamma knives to treat cancers like breast, lung, prostate, colorectal, lymphoma, liver, thyroid, brain, cervical, and spinal will propel the external beam radiotherapy segment to the forefront of the market by 2022. The global population is ageing, which will increase the need for external beam radiotherapy to treat cancer.
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Competitive Landscape –
An overview of the company, its finances, revenue, market potential, R&D investment, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trial pipelines, product approvals, patents, product breadth and depth, application dominance, and a technology lifeline curve are all include. All of the aforementioned information is strictly relevant to the company’s research into the worldwide radiotherapy market.
Key Companies profiled in this report include –
Ion Beam Applications
Varian Medical Systems Inc.
Becton, Dickinson and Company
Mevion Medical Systems
Eckert & Ziegler
By Type –
External Beam Radiation Therapy
Systemic Radiation therapy
Internal Beam Radiation Therapy
By Applications –
Skin and Lip Cancer
Head & Neck Cancer
By Regions –