Global Radiotherapy Market Insights Forecasts to 2032

• The Global Radiotherapy Market Size was valued at USD 6.78 Billion in 2022.
• The Market is growing at a CAGR of 7.3% from 2022 to 2032.
• The Worldwide Radiotherapy Market Size is expected to reach USD 13.72 Billion by 2032.
• Asia-Pacific is expected to grow higher during the forecast period.

 

Get more details on this report -

Request Free Sample PDF

The Global Radiotherapy Market Size is expected to reach USD 13.72 Billion by 2032, at a CAGR of 7.3% during the forecast period 2022 to 2032.

 

Market Overview

Radiotherapy, also known as radiation therapy, is a crucial and widely used medical treatment for various cancers and certain non-cancerous conditions. It employs high-energy X-rays or other types of radiation to target and destroy cancer cells, impairing their ability to grow and divide. This non-invasive therapy can be administered externally, known as external beam radiotherapy, or internally by implanting radioactive sources directly into or near the tumor, referred to as brachytherapy. The primary goal of radiotherapy is to eradicate cancer cells while minimizing damage to healthy surrounding tissues. It is often used alone or in combination with other treatment modalities like surgery and chemotherapy, enhancing the chances of successful cancer management and providing relief from cancer-related symptoms.

 

Report Coverage

This research report categorizes the market for radiotherapy market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the radiotherapy market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the radiotherapy market.

 

Driving Factors

The radiotherapy market is influenced by several drivers that shape its growth and demand, due to the increasing incidence of cancer worldwide is a significant driver. With the rising prevalence of various cancer types, including breast, lung, prostate, and colorectal cancers, there is a growing need for effective treatment options like radiotherapy. The advancements in technology and treatment techniques play a crucial role. Innovations in radiation delivery systems, such as intensity-modulated radiotherapy (IMRT), stereotactic body radiation therapy (SBRT), and proton therapy, have enhanced treatment precision, minimizing damage to healthy tissues and improving patient outcomes. Moreover, the aging global population contributes to the expansion of the radiotherapy market, as cancer incidence rises with age. Increasing awareness and early detection initiatives have led to a higher number of cancer diagnoses, driving the demand for radiotherapy.

 

Additionally, supportive government policies and funding for cancer research and treatment facilities propel market growth, encouraging investments in radiotherapy infrastructure. Furthermore, the adoption of combination therapies, where radiotherapy is used alongside chemotherapy or immunotherapy, drives market expansion. These combined approaches offer improved therapeutic benefits and contribute to better patient survival rates. Overall, the rising demand for non-invasive treatments and the improving accessibility of radiotherapy services in emerging economies further boost market growth.

 

Restraining Factors

Radiotherapy market is the potential side effects and complications associated with radiation treatment. While radiotherapy is effective in targeting cancer cells, it can also cause damage to nearby healthy tissues, leading to adverse reactions and long-term complications for some patients. Additionally, the high cost of advanced radiotherapy technologies and treatments can be a restraint for patients with limited financial resources or in regions with inadequate healthcare infrastructure. Moreover, the shortage of skilled radiation oncologists and trained healthcare professionals may hinder the widespread adoption of radiotherapy, limiting its reach and utilization in certain areas.

 

Market Segmentation

• In 2022, the cyber knife segment accounted for around 43.5% market share

On the basis of the technology, the global radiotherapy market is segmented into external beam radiotherapy, convnetial cobalt-60 teletherapy units, particle therapy systems, internal beam radiotherapy/brachytherapy, and systemic radiotherapy. The cyber knife subsegment of stereotactic external beam radiotherapy, utilizing electron/cobalt-60 linear accelerators, holds the largest market share due to its precise and non-invasive treatment capabilities. The cyber knife system delivers highly focused radiation to tumors, sparing surrounding healthy tissues, and effectively treating complex tumors in various body areas. Its advanced robotic technology allows for accurate tumor tracking and real-time adjustments during treatment, enhancing therapeutic outcomes. With an increasing demand for sophisticated and targeted radiotherapy options, the cyber knife subsegment has emerged as a dominant player in the market.

 

• The prostate cancer sub-segment of internal beam radiotherapy held the largest market with more than 45.3% revenue share in 2022

Based on the application, the global radiotherapy market is segmented into external beam and internal beam. The prostate cancer sub-segment of internal beam radiotherapy commands the largest market share due to the high prevalence of prostate cancer and the efficacy of this treatment approach. Internal beam radiotherapy, also known as brachytherapy, involves placing radioactive sources directly into the prostate tumor, delivering precise and concentrated radiation. This targeted therapy enables effective cancer control while minimizing damage to surrounding healthy tissues, making it a preferred choice for prostate cancer treatment.

 

• The hospitals segment is expected to continue grow at a higher CAGR of around 7.5% during the forecast period

Based on the end-use, the global radiotherapy market is segmented into hospitals and independent radiotherapy centers. The hospitals segment is expected to experience higher growth during the forecast period due to increasing cancer cases and the rising demand for radiotherapy services in hospital settings. Hospitals offer comprehensive cancer care, including radiotherapy treatment, making them a crucial destination for cancer patients. Moreover, ongoing advancements in radiotherapy technologies and equipment in hospitals further boost their appeal as a reliable and efficient choice for cancer treatment, leading to continued growth in this segment.

 

• The particle therapy sub-segment of external beam radiotherapy held the largest market with more than 32.6% revenue share in 2022

Based on the procedure, the global radiotherapy market is segmented into external beam radiotherapy, internal beam radiotherapy, systemic radiotherapy, intravenouos radiotherapy, oral radiotherapy, and instillation radiotherapy. The particle therapy sub-segment of external beam radiotherapy holds the largest market share due to its advanced and highly targeted treatment capabilities. Particle therapy, which includes proton therapy and carbon-ion therapy, uses charged particles to deliver radiation directly to cancer cells with exceptional precision. This results in reduced damage to healthy tissues compared to conventional radiotherapy. As the demand for more precise and effective cancer treatments rises, particle therapy has emerged as a prominent and sought-after option in the market.

 

Regional Segment Analysis of the Radiotherapy Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America dominated the market with more than 34.5% revenue share in 2022.

Get more details on this report -

Request Free Sample PDF

North America's dominance in the global radiotherapy industry can be attributed to advanced medical technology, including state-of-the-art radiotherapy equipment and facilities. Additionally, North America invests significantly in cancer research and treatment development, fostering innovation and advancements in radiation therapy techniques. Furthermore, the high prevalence of cancer cases in the region drives the demand for radiotherapy services. With a strong emphasis on early detection and comprehensive cancer care.

 

Asia-Pacific is projected to experience higher growth in the forecast period due to several key factors. The region's large population, particularly in countries like China and India, contributes to a higher incidence of cancer cases, driving demand for radiotherapy services. Additionally, improving healthcare infrastructure, increasing awareness about cancer screening and treatment options, and rising disposable incomes are expected to boost the adoption of advanced radiotherapy technologies in the region.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global radiotherapy market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Companies:

• Nordion Inc.
• Siemens Healthcare
• Mevion medical system, Inc.
• Isoray, Inc.
• Icad, Inc.
• Ion Beam Appications SA
• Elekta AB
• Eckert & Zeigler Group
• Varian Medical Syatems, Inc.
• NTP Radioisotopes SOC Ltd.
• Hitachi Ltd.

 

Key Target Audience

• Market Players
• Investors
• End-Users
• Government Authorities 
• Consulting and Research Firm
• Venture Capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

• In June 2022, RefleXion Medical, a cutting-edge therapeutic oncology company that uses biology-guided radiation (BgRT) for all stages of cancer, held its inaugural symposium on the power of utilizing cancer biology to lead treatment planning and delivery for personalized radiotherapy. The symposium is the first event at the newly dedicated Sanjiv "Sam" Gambhir Memorial Learning Centre at the firm.

 

• In February 2022, The International Atomic Energy Agency (IAEA) has launched a plan to address a severe shortage of cancer care capacity in many low- and middle-income (LMIC) countries, with an initial focus on Africa, where cancer mortality is higher due to a lack of access to potentially life-saving nuclear medicine and radiotherapy.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global radiotherapy market based on the below-mentioned segments:

 

Radiotherapy Market, By Type

• Service
• Product

 

Radiotherapy Market, By Technology

• External Beam Radiotherapy
• Convnetial Cobalt-60 Teletherapy Units
• Particle Therapy Systems
• Internal Beam Radiotherapy/Brachytherapy
• Systemic Radiotherapy

 

Radiotherapy Market, By Application

• External Beam
• Internal Beam

 

Radiotherapy Market, By Procedure

• External Beam Radiotherapy
• Internal Beam Radiotherapy
• Systemic Radiotherapy
• Intravenouos Radiotherapy
• Oral Radiotherapy
• Instillation Radiotherapy

 

Radiotherapy Market, By End-Use

• Hospitals
• Independent Radiotherapy Centers

 

Radiotherapy Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa