Radiotherapy is a treatment for cancer which uses beams of high energy radiation to kill cancer tissues in the body. This therapy stops cancer cells from multiplying. Also called radiation therapy, radiotherapy is emerging as a major technology for killing the cancer disease. The global radiotherapy market is a widely growing sector in recent years.
The global radiotherapy market could be segmented into three categories, on the basis of types into: external beam radiation therapy, internal radiation therapy and systemic radiation therapy, on the basis of technology into: external beam radiation therapy (image guided radio therapy, intensity modulated radiation therapy, tomotherapy, 3-D conformal radiotherapy, adaptive radiation therapy and others), internal beam radio therapy (low dose rate, high dose rate), and systemic radiation therapy.
On the basis of applications it is segmented into: external beam radiation therapy (prostate cancer, breast cancer, spine cancer, head and neck cancer, lung cancer, and brain cancer), internal radiation therapy (gynecological cancer, penile cancer, esophageal cancer and cervical cancer) and systemic radiation therapy. The global radiotherapy market is further segmented by geography into North America, Europe, Asia Pacific and rest of the world regions.
Global external beam therapy holds the maximum share of the global radiotherapy market, followed by internal radiotherapy devices and systemic radiotherapy market. North America is the biggest market for radiotherapy devices. The market in Europe and Asia Pacific also holds immense growth opportunities owing to development in Eastern Europe, India and China.
The global radiotherapy market is driven by factors such as increasing number of cancer patients and untapped market in some emerging countries. Rapidly changing cancer treatment technology and emerging healthy reimbursement plans will also act as drivers for the global radiotherapy market.
Some factors inhibiting the growth of the global radiotherapy market are lack of adequate infrastructure, healthcare expenditure, and lack of adequate skills and training. Alternative treatment procedures will also limit the growth of the global radiotherapy market.
Some of the key players dominating the global radiotherapy market are C.R. BARD, Inc., Angiodynamics Inc., Accuray Inc., Nordion Inc., Protom International Inc., Varian Medical Systems Inc., Siemens Healthcare, GE Healthcare, IBA Group and Coviden Plc.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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Radiotherapy is use of high energy radiation from x-rays, gamma rays, neutrons, protons, and other sources to shrink tumors, kill cancer cells and repair different physiological abnormalities. About 70% of the cancer patients globally undergo some or other type of radiotherapy during their course of treatment. Moreover, 20% of malignant tumors resist radiation; hence neutron based radiation therapy is used as a substitute for conventional radiation due to its intense ionizing property. The major devices are digital mammography & ultrasound systems, computed tomography systems, intraoperative x-ray (fluoroscopic) guidance, magnetic resonance and Positron Emission Tomography – CT (PET-CT).
Over the last few years, the global radiotherapy devices market has grown incrementally. Unique therapeutic effect on genetics of damaged cells as a result of advancement in radiation oncology is the major driver for this market. Moreover, in the coming years the incidence of cancer is expected to rise, along with precise treatment planning systems and increasing trends in accurate diagnosis. Thus, significant growth is observed in the radiotherapy devices market for treating these diseases. Also, technological advancement in the devices used for radiotherapy has been seen in the past years and this is a contributing factor for adoption of radiotherapy by physicians globally.
The global radiotherapy devices market was over USD 4.7 billion in 2012 and is expected to reach over USD 6 billion by 2018, at CAGR of about 5.5% from 2012-2018. Internal radiotherapy (brachytherapy), external radiotherapy and systemic radiotherapy constitutes the global radiotherapy devices market. The external beam therapy devices constitute the largest segment of the global radiotherapy devices product market, followed by internal radiotherapy devices and systemic radiotherapy devices. The linear accelerator devices market accounts for the largest share (66%) of the external beam therapy devices market in 2011 due to technological advancement and its potential to provide precise treatment services.
Image-Guided Radiation Therapy (IGRT), Intensity-Modulated Radiation Therapy (IMRT), gamma knife, cyber knife, proton / neutron therapy, Dynamic Multi-Leaf Collimator (DMLC) constitute the major technologies of the global radiotherapy market.
North America is the biggest market for radiotherapy devices market followed by Europe. However, Asia Pacific is the fastest growing market and also represents the most attractive segment due to reasonable procedural and infrastructural cost which drives patients from developed regions to Asian countries such as China and India.
Major players of the global market for radiotherapy devices market are Varian Medical System, Accuray, Inc., Elekta AB, and IsoRay Medical, Inc. Other players include IBA Group (Belgium), Eckert & Ziegler BEBIG (Belgium), iCAD, Inc. (U.S.), GE Healthcare (U.K.), Covidien, PLC (Ireland), C.R. Bard, Inc. (U.S.), Nordion, Inc. (Canada), Theragenics Corporation (U.S.), Oncura, Inc. (U.S.).
This market research report analyzes important market segments, and major geographies. This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.