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. On the other hand, high-dose radiation therapy is effective in reducing the size of the tumors and killing any cancer cells it may have reaches.
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. During the projects period, the market is also likely to benefit from factors such as the rising prospects in emerging economies and the rising need for cancer therapies.
The previous decade has seen significant technological advancements that have result in more accessible, affordable, and efficient cancer treatments. The rising number of cancer cases is another element fueling expansion. 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 result in a 20% increase in the number of cancer patients due to the postponement of various surgeries as the government priorities 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.
The demand and adoption of radiotherapy devices are expect to increase as a result of the increase awareness of the available radiotherapy procedures and their benefits, which is the goal of the many events being held to spread awareness and impart training for radiotherapy procedures among oncologists and radiographers.
Despite the fact that radiotherapy is a clinical modality in which high standards can only be achieve and maintainer by full-time specialists, a lack of trainer personnel and a lack of technical expertise are expect to hinder the implementation of advance radiotherapy. As a result, many cancer patients miss out on effective treatments because of these limitations.
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 offer. 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 radiotherapy market is broken down into submarkets for various types of radiotherapy products, such as external beam , internal products, software, systemic and others. 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. Since external beam radiotherapy can be administere as a non-invasive therapy or from the outside of the body, with more precise results, radiation oncologists are increasingly favouring it over internal radiation therapy. The global population is ageing, which will increase the need for external beam radiotherapy to treat cancer.
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Competitive Landscape –
A company’s presence in the radiotherapy market is describe in detail in this section. 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 –