Global Radiotherapy Market In depth
Global Radiotherapy Market, By Type (Beam Radiotherapy (IGRT, IMRT, VMAT, Tomotherapy, 3D CRT, Proton Beam, Stereotactic), Brachytherapy (LDR, HDR), Systemic Radiotherapy), By Product Type (Cyberknife, Gammaknife, Linac, Proton Beam, Systemic Radiotherapy, Seeds, Afterloaders), By Indication (Prostate & Breast Cancer)), By Geography (North America, Europe, Asia Pacific, South America, Rest of the World) – Industry Trends and Forecast to 2024
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The major factors driving the growth of this market are rising incidence of cancer, increasing acceptance of adaptive radiation therapy (ART), growing pool of geriatric population and increasing number of cancer treatment facilities. These factors increase the demand for radiotherapy devices. On the other hand, high cost of radiotherapy equipment and lack of skilled professionals may hinder the growth of the market.
Market Key Drivers:
Some of the major factors driving the market for radiotherapy market are increasing patient pool for cancer, increasing ageing population, increase in out-patient cancer facilities and increasing demand for better radiotherapy equipments and replacement of out dated products. One of the major factors for growth of these devices is owing to unmet needs of radiotherapy infrastructure in emerging and developed economies.
? Regulatory scenario and the high cost of radiotherapy are the factors which may hinder the growth of this market.
? Many companies are increasingly focusing on radiotherapy devices in order to strengthen their product portfolios in the radiotherapy market.
? Increment in patient mindfulness levels with respect to early infection diagnostics will drive the market in future.
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The Global Radiotherapy Market is segmented on the basis of type, product type, indication, and geography. The global radiotherapy market is segmented into three types, namely beam radiotherapy, brachytherapy and systematic radiotherapy. In 2017, the beam radiotherapy segment is expected to dominate the market with a share around 75.0% and is expected to continue this trend till 2024.
On the basis of product type, the market is segmented into external beam radiotherapy, internal radiotherapy products, radiotherapy software’s and systematic radiotherapy. External beam radiotherapy is segmented into LINAC, Cyber Knife, proton therapy and Gamma Knife. The proton beam is segmented into cyclotron and synclotron. The internal beam is segmented into seeds and after loaders. The radiotherapy software’s is segmented into treatment planning software’s, dosage planning software’s, patient positioning software’s and image guiding software’s.
On the basis of indication, the market is segmented into prostate cancer, breast cancer, lung cancer, spine cancer, liver cancer, brain cancer and others.
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Varian Medical Systems, Inc. dominated the radiotherapy market followed by Elekta AB, and Accuray, Inc. along with others CIVCO Medical Solutions, Brainlab AG, C. R. Bard, Inc., IsoRay Medical, Inc., Nordion, Inc., RaySearch Laboratories AB, PRECISIS AG, Mevion Medical Systems, Inc., TechnicasRadiofiscas S.L., Hitachi, Ltd., Sumitomo Heavy Industries, Ltd., Mitsubishi Electric Corporation, ProNova Solutions, LLC, and ProTom International
? Beam radiotherapy market is growing with the highest CAGR.
? Globally external beam radiotherapy is having the highest market share.
However, radiotherapy software’s are growing with highest CAGR.
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