The growing prevalence of cancer creates a higher demand for effective treatment options. Radiotherapy techniques offer a minimally invasive alternative to traditional surgery to treat solid tumors. As cancer rates continue to rise, there is an increasing need for treatments that can effectively target and destroy tumors, leading to the growth of the market.
Radiotherapy procedures are particularly valuable for patients with inoperable tumors. These may include tumors in critical or hard-to-reach areas or cases where surgery carries a higher risk due to the patient's overall health condition. Radiotherapy provides a viable treatment option for such patients, allowing tumor destruction without major surgery.
Moreover, the rising prevalence of cancer drives the demand for radiotherapy procedures as an effective and minimally invasive treatment option. The need to address the growing incidence of cancer, coupled with advancements in imaging technologies and the preference for less invasive procedures, fuels the growth of the radiotherapy market.
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Data Bridge Market Research analyzes that the Radiotherapy Market is expected to reach the value of USD 3,890.91 million by 2030, form USD 2,176.99 million in 2022, growing at a CAGR of 7.9% during the forecast period.
Key Findings of the Study
Increasing healthcare expenditure for cancer treatment
The government is continuously engaged in the activity of improving healthcare facilities to provide better health facilities and treatment to the patients such as improving cancer treatment procedures and increasing the number of radiotherapy treatment providers, among others. Growing healthcare expenditure is an opportunity for the market, because if investment in healthcare increases more people are getting aware of cancer disease and undergo advanced technology-based cancer treatment.
Continuously increasing healthcare expenditure help the end user to install the latest technology-based radiotherapy systems to improve efficiency, accuracy, and number of successful radiotherapy cancer treatments.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Product & Services (Services, Product, and Software), Type (External-Beam Radiation Therapy, Internal Radiation Therapy, Systemic Radiotherapy/ Radiopharmaceuticals, and Others), Application (Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer, Lymphoma, Liver Cancer, Thyroid Cancer, Brain Cancer, Cervical Cancer, Spine Cancer, and Others), End User (Hospitals, Radiation Therapy Centers, Specialty Clinics, and Others), Distribution Channel (Direct Tenders, Third Party Distributors, and Others)
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Countries Covered
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Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, Sweden, and Rest of Europe
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Market Players Covered
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Siemens Healthcare GmbH (Germany), Elekta (Sweden), Accuray Incorporated (U.S.), General Electric Company (U.S.), IBA Worldwide (U.S.), Koninklijke Philips N.V. (Netherlands), Hitachi, Ltd. (Japan), CANON MEDICAL SYSTEMS CORPORATION (Japan), Nordion Inc. (A Subsidiary of Sotera Health) (U.S.), Mevion Medical Systems (U.S.), Eckert & Ziegler BEBIG (Germany), VIEWRAY TECHNOLOGIES, INC. (“VIEWRAY”) (U.S.), Brainlab (Germany), ZEISS International (Germany), BEBIG Medical. (Germany), SHINVA MEDICAL INSTRUMENT CO., LTD. (China), LinaTech, Inc. (U.S.), and United Imaging Healthcare Co., Ltd. (U.S.) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis
The radiotherapy market is segmented into five notable segments such as product & services, type, application, end user, and distribution channel.
- On the basis of product & services, the market is segmented into services, product, and software
In 2023, the services segment is expected to dominate the Europe radiotherapy market
In 2023, the services segment is expected to dominate the market with a market share of 55.82%, due to the rising prevalence of cancer worldwide
- On the basis of type, the market is segmented into external-beam radiation therapy, internal radiation therapy, systemic radiotherapy/ radiopharmaceuticals, and others
In 2023, the external beam radiation therapy segment is expected to dominate the Europe radiotherapy market
In 2023, the external-beam radiation therapy segment is expected to dominate the market with a market share of 64.99%, due to the rising demand for radiotherapy among the population
- On the basis of application, the market is segmented into breast cancer, lung cancer, prostate cancer, colorectal cancer, lymphoma, liver cancer, thyroid cancer, brain cancer, cervical cancer, spine cancer, and others. In 2023, the breast cancer segment is expected to dominate the market with a market share of 21.62%
- On the basis of end user, the market is segmented into hospitals, radiation therapy centers, specialty clinics, and others. In 2023, the hospitals segment is expected to dominate the market with a market share of 63.30%
- On the basis of distribution channel, the market is segmented into direct tenders, third party distributors, and others. In 2023, the direct tender segment is expected to dominate the market with a market share of 81.53%
Major Players
Data Bridge Market Research analyzes Elekta (Sweden), General Electric Company (U.S.), Siemens Healthcare GmBH (Germany), Hitachi, Ltd. (Japan) and Koninklijke Philips N.V. (Netherlands) as the major market players in the Europe radiotherapy market.
Market Developments
- In June 2023, Merit Medical Systems. acquired Bluegrass Vascular’s Surfacer Inside-Out Access Catheter System. This has helped the company to generate more revenues
- In June 2023, Sonablate Corp. was recognized as one of CEO View’s top 10 healthcare companies of the year 2023. This has helped the company to establish its presence in the europe radiotherapy market
- In November 2022, Terumo Europe NV announced that it welcomed the positive guidance released by the National Institute for Health and Care Excellence (NICE), mentioning that microwave ablation can be used provided standard arrangements are in place for clinical governance, consent, and audit. This is positive news as it broadens access to minimally invasive alternatives to surgery available to patients with symptomatic benign thyroid nodules
- In July 2022, EDAP TMS announced Focal One HIFU reimbursement raised to urology APC Level 6 under CMS Outpatient Prospective Payment System (OPPS) Proposed Rule for CY23. This has helped the company to establish its Europe presence
- In July 2021, Bioventus LLC. and Misonix announced definitive agreement for Bioventus to acquire Misonix. This has helped the company to strengthen its product portfolio
Regional Analysis
Geographically, the countries covered in the radiotherapy market are Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, Sweden, and Rest of Europe.
As per Data Bridge Market Research analysis:
Germany is the dominant and the fastest growing country in the Europe Radiotherapy Market
Germany is expected to dominate the market due to the higher level of investments by various manufacturers and increasing demand for radiotherapy in the country. Germany is estimated to be the fastest growing country in europe radiotherapy market. This is due to the growing adoption of advanced technology and launch of new products in this region.
For more detailed information about the Europe radiotherapy market report, click here – https://www.databridgemarketresearch.com/reports/europe-radiotherapy-market
