Demand for Radiotherapy Market Projected to be Highest in North America

According to a report by P&S Intelligence, the global radiotherapy market is projected to attain a revenue of $17,194.4 million by 2030, advancing at an 8.4% CAGR during 2020–2030. A major factor leading to the growth of the market is the increasing healthcare expenditure around the world. A number of developing and developed countries are significantly investing in the industry for upgrading their healthcare systems.

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As per the World Bank Group, the worldwide healthcare expenditure rose to 9.9% of the global gross domestic product in 2017 from 8.6% in 2000. This rise in the healthcare expenditure is predicted to lead to upgraded infrastructure, such as installation of innovative medical systems in different healthcare settings. The disruption of the supply chain, however, due to the current pandemic situation has slowed down the growth of the market across the globe. Lockdown in various parts of the world has resulted in the shutdown of a number of manufacturing facilities.

The objective of this research includes;

  • Major factors driving the radiotherapy market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the radiotherapy market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

Geographically, North America dominated the radiotherapy market in the past, owing to the presence of major players, surging expenditure in the healthcare sector, rapid improvements in the healthcare infrastructure, regular strategic developments, and rapid increasing number of cancer cases in Canada and the U.S. The growing number of patients in the region are opening up various opportunities for the companies in the domain.

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Some of the key players in the global radiotherapy market are Accuray Incorporated, Elekta AB, Hitachi Ltd., Dickinson and Company, Becton, Ion Beam Applications SA, Provision Healthcare, Isoray Inc., Varian Medical Systems Inc., Sumitomo Heavy Industries Ltd., Mevion Medical Systems Inc., ViewRay Inc., Panacea Medical Technologies Pvt. Ltd., Optivus Proton Therapy Inc., and P-Cure Ltd.

The research includes detailed analysis of;

Based on Type

  • External Beam
    • By product
      • Linear accelerators (LINACs)
      • Particle/proton therapy systems
      • Conventional cobalt-60 teletherapy systems
    • By technology
      • Stereotactic therapy
      • Image-guided
      • Intensity-modulated
      • Particle beam therapy
      • 3D conformal
  • Internal Beam
    • By product
      • Seeds
      • Electronic brachytherapy systems
      • Afterloaders
      • Applicators
    • By technology
      • High-dose rate (HDR)
      • Low-dose rate (LDR)
      • Pulsed-dose rate (PDR)
  • Systemic
  • Based on End User
    • Hospitals
    • Independent Radiotherapy Centers
    • Cancer Research Institutes
  • Independent Radiotherapy Centers
  • Cancer Research Institutes

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