Radiotherapy is a cure for cancer that uses radiation, usually X-rays, to treat illness. It is also known as radiation therapy. It is also sometimes used to treat benign tumors and other conditions for instance thyroid disease and some blood disorders. It is used alone or in combination with chemoradiotherapy (chemotherapy) to treat cancer. It is effective in controlling symptoms of cancer. It may be used before or after surgery to destroy small tumor cells that may be left. It can be external, internal or systemic.
According to study, “Global Radiotherapy Market Size study, by Type (External beam radiation therapy, internal radiation therapy, and Systemic radiation therapy), Application (skin & lip cancer, breast cancer, head & neck cancer, prostate cancer, cervical cancer, spine cancer, lung cancer, and others) End-user (hospitals, cancer research institutes, and ambulatory & radiotherapy centers) and Regional Forecasts 2018-2025” the key companies operating in the global radiotherapy market are Canon Medical Systems Corporation, Mirada Medical, GE Healthcare, Ion Beam Applications, Siemens AG, Varian Medical Systems Inc., Elekta AB, Nordion, Isoray.
Based on the type, the radiotherapy market is segmented into internal radiation therapy, external beam radiation therapy, and systemic radiation therapy. External beam radiation therapy includes Image-Guided Radiation Therapy (IGRT), Intensity-Modulated Radiation Therapy (IMRT), stereotactic body radiation therapy, tom therapy, proton therapy, and stereotactic radiosurgery. External the beam radiation therapy segment is anticipated to witness higher growth in the market owing to the rise in accuracy and precision of tumor-targeting during the forecast period. Based on application, the market is segmented into skin & lip cancer, breast cancer, head & neck cancer, prostate cancer, lung cancer, cervical cancer, spine cancer, and others. Based on equipment, the market is segmented into radiation therapy simulators, linear accelerators, and treatment planning systems. In addition, based on end-users, the market is segmented into cancer research institutes, hospitals, and ambulatory & radiotherapy centers. Hospitals segment dominates the market due to growth in the installation of advanced radiotherapy equipment along with a rise in government initiatives & funding to promote the adoption of advanced cancer treatment technologies.
The radiotherapy market is driven by growth in the number of cancer patients, followed by a rise in technological advancements, growth in awareness & surge in adoption of radiotherapy devices and procedures increase in the number of conferences & symposia and rise in use of particle therapy for cancer treatment. However, lack of adequate healthcare infrastructure, complex nature of radiotherapy and a shortage of trained personnel may impact the market. Moreover, the rise in improvement in reimbursement scenario and growth in government & private investments to meet the rising demand for cancer treatment is a key opportunity for the market.
Based on geography, the North-American region holds the leading position in the radiotherapy market owing to growth in the technological advancements in radiotherapy equipment, the presence of market players and the increase in a number of cancer cases in the region. The Asian-Pacific region is likely to witness higher growth rate due to the rise in geriatric population, improvement in healthcare infrastructure over the forecast period. It is expected that the future of the market will be bright on account of growth in acceptance of radiotherapy procedures & devices during the forecast period. It is projected that the market will be reached at US $12.3 billion by 2025.
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Ankur Gupta, Head Marketing & Communications