Radiotherapy Market

Radiotherapy Market: Overview

Radiotherapy or radiation therapy has been a key pillar of the palliative and curative care for cancer patients. The market has been a key enabler as well an accelerator for oncologic care world over. Advent of state-of-the-art instrumentation has remarkably improved the delivery technique. Progress made in understanding of radiobiology has enabled oncologists improve the effectiveness of radiotherapy in eradicating tumor cells. A growing body of studies have shed light on tumor microenvironments, hence paved way to new target discoveries for radiotherapy market. Recently, radiotherapy when combined with immunocheckpoint blockade has improved the targeting of metastatic tumors in patient population. More notably, radiotherapy has benefited more when combined with other therapies.

Radiotherapy Market: Key Trends

Advances in radio-oncogenomic and radiation-immunotherapeutic approaches have propelled strides in the radiotherapy market. The growing clinical potential of radiotherapy in curative treatment modalities in Western countries has expanded the market avenue over the years. Advances in imaging systems have radiation therapies have improved the efficacy as image-guided radiation therapy are more precise and have less side-effects.

Over the years, companies have been focused on developing radio-therapeutic devices that can be used in the treatment of cancers in deep tissues. Expanding use of these devices in therapeutics is boosting the market. Growing clinical avenue in the treatment of melanoma skin cancers (NMSC) is expanding the horizon of the radiotherapy market. Most prominently, there is a widespread demand for therapies for reducing the prevalence of basal cell carcinoma (BCC), a very common skin cancer.

Radiotherapy Market: Regional Assessment

Geographically, some of the key regional markets are North America, Europe, and Asia Pacific. Healthcare industry in the developing and developed regions of the aforementioned regions are seeing large revenue potential of better therapies for the management of cancer. The clinical potential of radiotherapy in improving tumor elimination is boosting the prospects. Countries such as the U.S. and the U.K. are witnessing extensive study on radiation-induced cellular responses in cancer cells, unlocking new prospects in the overall radiotherapy market.

Increase in cancer prevalence and deaths and breakthroughs in radiation technology are likely to be the main reasons propelling the growth of global radiotherapy market. More people are becoming aware of the advantages of radiation, and particle therapy is being used more frequently to treat cancer, which are other aspects likely to bolster drive market expansion in the forthcoming years. The development of this industry is expected to be hampered by dearth of qualified radiologists and oncologists as well as inadequate healthcare infrastructure, particularly in developing nations. In addition, high cost of radiation equipment and the complexity of radiotherapy treatments are key issues that are anticipated to impede market expansion.

The global need for timely management is increasing in response to the growing prevalence of oncology conditions including breast cancer, lung cancer, and prostate cancer. As a result, this is likely to come up as a significant driver boosting global market for radiotherapy. For instance, study from Breastcancer.org estimates that in March 2022, there will be 51,400 new incidences of non-invasive (in situ) breast cancer and 287,850 new incidents of invasive breast cancer in women in the US.

606,520 cancer-related deaths and 1,806,590 new incidences of the illness were predicted to occur in the US in 2020, based on the National Cancer Institute 2020 study. Due to the rise in elderly and cancer patient populations, there has been a significant increase in the need for radiation in recent years, which is expected to drive revenue-generation opportunities in radiotherapy industry. Additionally, increase in the use of radiation equipment and techniques as well as rising number of awareness programs about its advantages is likely to trigger future market demand for radiotherapy. The global market is also anticipated to be driven by technological developments in radiotherapy equipment. Radiation therapy market development is nonetheless constrained by a shortage of skilled workers and challenges with tumour imaging. In addition, it is anticipated that growth opportunities for the market will arise from the development of new markets and the rise in demand for cancer treatments.

Telematic tools were used to perform consultations during the COVID-19 shutdown, and follow-up appointments for patients who indicated they had no signs of an oncologic condition were postponed. This was carried out to reduce patient exposure to viral dissemination while maintaining optimal oncological results.