Radiotherapy Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026

Global radiotherapy market is forecasted to value over USD 7 billion by 2026 end and register a CAGR of over 4% from the forecast period 2019-2026.

Latest technological advancements, increasing focus of increasing awareness regarding the benefits and growing prevalence of cancer is driving the market. Based on the figures released by WHO, cancer is one of the major life-threatening diseases and it accounted for the deaths of around 9.7 million people worldwide in 2018. The rising usage of particle therapy for the diagnosis of cancer alongside improving reimbursement policy is boosting the market. Emerging markets alongside rising investments of government and private sectors are fueling the market growth. Improvements and further amendments in image-guided radiotherapy are propelling the market. 

The market is classified into product type, type, application, end-user, and region. In terms of type, the market is segmented into radiotherapy, internal beam radiotherapy, systemic radiotherapy, and external beam radiotherapy. External beam radiotherapy is expected to dominate the growth of the market. The precision and accuracy offered by external beam radiotherapy for targeting tumour is better than other methods, which is the primary reason for segment proliferation. In addition, external beam radiotherapy offers less risk of exposure to radiation. Due to these factors, end-users have opted for external beam radiotherapy thus inflating the market. 

Based on product type, external beam radiotherapy is expected to achieve the highest CAGR. Less maintenance and equipment costs of linear accelerators alongside precise radiation offered by cyberknife is expected to bolster the market. The 360-degree radiation treatment offered by tomotherapy is adding further growth opportunities thus spurring the market.

In terms of application, prostate cancer segment of external beam radiotherapy is expected to showcase significant growth over the forecast period. Minimally long-term risks associated with external beam radiotherapy coupled with the rising cases of prostate cancer is driving the growth of the market. In addition, the growing adoption of external beam radiation therapy (EBRT) systems for the treatment of breast cancer is expected to expand the market.

On the basis of end-user, hospitals are expected to hold the major market share. The rising cases of cancer have resulted in hospitals demanding more deployment of advanced radiotherapy equipment which has stimulated the market. The rapid expansion of hospitals in developed economies alongside favorable government initiatives aimed towards hospitals inculcating more advanced radiotherapy systems is boosting the market. 

In terms of regions, North America dictates the market growth. The easy accessibility, high adoption of advanced diagnostic equipment and rising healthcare expenditure in countries like Canada and the US are stimulating the market in the region. Asia-Pacific region is expected to showcase exponential growth during the forecast period. Rapidly improving healthcare infrastructure alongside growing per capita income in emerging economies like China, Japan and India are bolstering the market in the region. In addition, favorable policies launched by the governments of these countries are expected to boost the market growth in the region.  

Major players of the market are Hitachi Ltd., IsoRay Medical, Inc, Ion Beam Applications SA, Provision Healthcare, Varian Medical Systems, Inc, Mevion Medical Systems, Inc, Panacea Medical Technologies Pvt.Ltd, Accuray Incorporated and Elekta AB. 

Competitive Landscape: 
●     Varian Medical Systems in 2017, opened its center in Jundiai, Brazil. The move will increase the access to advanced radiotherapy equipment and treatment across Brazil
●     Varian Medical Systems launched an innovative treatment platform called Halcyon Treatment System. The system eases treatment delivery with increased speed and high-quality plans

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Global Radiotherapy Market Segmentation 
By Product Type 
●    External Beam Radiotherapy
▪      Linear Accelerators
▪      Particle Therapy System
▪      Conventional Cobalt-60 Teletherapy Units                
                   
●    Internal Beam Radiotherapy/Brachytherapy
▪      Seeds
▪      Applicators
▪      Afterloaders
▪      Electronic Brachytherapy Products
                   
●    Systemic Radiotherapy
▪      Iobenguane (I-131)
▪      Samarium-153
▪      Rhenium-186
  
By Type 
●    External Beam Radiotherapy
▪      Image-Guided Radiotherapy
▪      3d Conformal Radiotherapy
▪      Intensity-Modulated Radiotherapy
▪      Stereotactic Therapy
▪      Particle Therapy
         
●    Internal Beam Radiotherapy
▪      Low-Dose-Rate Brachytherapy    
▪      High-Dose-Rate Brachytherapy                
▪      Pulsed-Dose-Rate Brachytherapy
                   
●    Systemic Radiotherapy
▪      Intravenous Radiotherapy
▪      Oral Radiotherapy
▪      Instillation Radiotherapy
                   
 
By Application
●    External Beam Radiation Therapy
▪      Prostate Cancer
▪      Breast Cancer
▪      Lung Cancer
▪      Head and Neck Cancer
▪      Colorectal Cancer
▪      Other Cancers

●    Internal Beam Radiotherapy/Brachytherapy
▪      Prostate Cancer
▪      Gynecological Cancer
▪      Breast Cancer
▪      Cervical Cancer
▪      Penile Cancer
▪      Other Cancers
 
By End User 
●     Hospital      
●     Independent Radiotherapy Centers
                    
By Region: 
●     North America
●     Europe
●     Asia Pacific
●     Latin America
●     Rest of the World

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FutureWise Key Takeaways
●  Growth Prospects
●  SWOT Analysis
●  Key Trends
●  Key data-points affecting market growth
 
Objectives of the Study:
• To provide with an exhaustive analysis on the global radiotherapy market by type, by product type, by application, by end-user and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America and the rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financial and core competencies

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