Intraoperative Radiation Therapy Market: Introduction

  • Intraoperative radiation therapy (IORT) is a treatment for cancer wherein an ionizing radiation is administered to a small area of the body all at once during a surgery. IORT allows higher effective doses of radiation to tumor/tumor bed with minimal exposure to surrounding healthy tissues compared to conventional radiation therapy. Traditionally, surgery is followed by external beam radiotherapy (EBRT) or chemotherapy in most solid tumors for the elimination of any microscopic residual disease and reducing the risk of local recurrence.

Key Drivers and Restraints of Global Intraoperative Radiation Therapy Market

  • Increase in incidence and prevalence rate of cancer across the globe is projected to drive the global intraoperative radiation therapy market during the forecast period, as radiation therapy is used in nearly 50% of all cancer treatments. According to the American Institute of Cancer Research, around 18 million cancer cases were diagnosed globally in 2018 and head & neck cancer accounted for about 4% of the total cancer cases in the U.S. in 2017. Moreover, an estimated 65,000 individuals will develop head & neck cancer in the near future.
  • Increase in demand for highly efficient radiation therapy systems for cancer treatment and new product approvals are projected to augment the global intraoperative radiation therapy market during the forecast period. The global market has witnessed an increase in new product approvals in the past few years. This is anticipated to propel the global market from 2019 to 2027 Radiation therapy in expensive due to the use of sophisticated equipment and machinery. The total cost of the treatment depends on the number of sessions, type of radiation, and patient’s health coverage. According to estimates, the cost of a radiation therapy course for treating breast cancer is approximately US$ 8,000 and around US$ 18,000 for prostate cancer.

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Breast Cancer Segment to Dominate Global Market

  • Based on treatment, the global intraoperative radiation therapy market can be divided into breast cancer, brain tumor, gastrointestinal cancer, head & neck cancer and other cancers (penile cancer, lung cancer, childhood cancer, colorectal cancer, endometrial & cervical cancer, and prostate cancer). The breast cancer treatment segment accounted for a leading share of the global intraoperative radiation therapy market in 2018. As per the U.S. Breast Cancer Statistics, in 2019, an estimated 268,600 new cases of invasive breast cancer are expected to be diagnosed in women in the U.S., along with 62,930 new cases of non-invasive (in situ) breast cancer.

Hospital Segment to Lead Global Market

  • In terms of end-user, the global intraoperative radiation therapy market can be segmented into hospitals, specialty clinics, and ambulatory surgical centers. The hospitals segment accounted for the leading share of the market in 2018. The trend is expected to continue during the forecast period. Investments by key players in the expansion of an effective distribution network with hospitals and development of novel surgical platforms to meet the needs and demands of patients are likely to augment the hospitals segment during the forecast period.

North America to Lead Global Intraoperative Radiation Therapy Market

  • In terms of region, the global intraoperative radiation therapy market can be segmented into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.
  • North America held a major share of the global intraoperative radiation therapy market in 2018. Increase in prevalence of cancer among elderly population and rise in awareness about the side effects are likely to drive the market in North America. Europe and Asia Pacific are likely to account for a significant share of the global market in the near future. Initiatives taken by local governments to attain self-sufficiency in manufacturing pharmaceuticals and financial support for research and development of drugs for oncology disorders in countries such as, Brazil, South Africa, etc., are projected to boost the intraoperative radiation therapy market in Latin America and Middle East & Africa during the forecast period.

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Key Manufacturers Operating in Global Intraoperative Radiation Therapy Market

The global market for intraoperative radiation therapy is moderately fragmented with market players focusing on strategically important partnerships, collaborations, mergers, acquisitions, and product launched. Key manufacturers operating in the global market are:

  • ZEISS Group
  • iCAD, Inc.
  • IntraOp Medical Corporation
  • Ariane Medical Systems, Ltd.
  • Sordina IORT Technologies S.p.A.
  • GMV Innovating Solutions
  • Sensus Healthcare, Inc.
  • Elekta AB
  • Varian Medical Systems, Inc.
  • Eckert & Ziegler Group

Global Intraoperative Radiation Therapy Market Scope

Global Intraoperative Radiation Therapy Market, by Application

  • Breast Cancer
  • Brain Tumor
  • Gastrointestinal Cancer
  • Head & Neck Cancer
  • Other Cancers (penile cancer, lung cancer, childhood cancer, colorectal cancer, endometrial & cervical cancer, and prostate cancer)

Global Intraoperative Radiation Therapy Market, by End-user

  • Hospitals
  • Ambulatory Surgery Centers
  • Specialty Clinics

Global Intraoperative Radiation Therapy Market, by Method

  • Electron IORT
  • Intraoperative Brachytherapy

Global Intraoperative Radiation Therapy Market, by Product

  • Products
    • System/Accelerators
    • Applicators & Afterloaders
    • Treatment Planning Systems
  • Accessories

Global Intraoperative Radiation Therapy Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Intraoperative Radiation Therapy Market

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