Radiotherapy device advancements occurred during the same forecast period. Technological advancements have aided in developing low-cost, user-friendly, and more effective radiotherapy devices. These devices or radiotherapy products are available with more precise and improved radiation dose delivery, allowing for more efficient tumor targeting. Many radiotherapy devices were upgraded from 2D to 3D, allowing for high-quality radiation conformity with real-time imaging of a target tumor. This has also increased the dose while improving tumor control. The demand for such advanced devices has been increasing as a result of the significant success rates for cancer patients. This has also resulted in the continuous research and development of new radiotherapy techniques, devices, and products.
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Data Bridge Market Research analyses that the radiotherapy market is expected to grow at a CAGR of 5.7% in the forecast period of 2020 to 2027 and is expected to reach USD 8,654.95 million by 2027.
Rising cases of cancer is expected to drive the market's growth rate
The global increase in cancer cases has influenced the rising demand for radiotherapy in recent years. For instance, the Centers for Disease Control and Prevention reported that the number of cancer cases increased to 17,08,921 in 2018. According to the American Cancer Society Journal, scientific research on cancer facts and figures estimates that there will be approximately 1.9 billion new cancer cases in America and approximately 609,360 cancer deaths. The increasing number of cancer cases in developed and developing countries is due to changes in lifestyle, diet, and other factors.
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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2020 to 2027
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Base Year
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2019
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Historic Years
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2018 (Customizable to 2012 - 2017)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (External-Beam Radiation Therapy, Internal Radiation Therapy, Systemic Radiotherapy/ Radiopharmaceuticals, Others), Product (External Beam Radiotherapy, Internal Radiotherapy Products, Radiotherapy Software, Systemic Radiotherapy and Others), Application (Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer, Lymphoma, Liver Cancer, Thyroid Cancer, Brain Cancer, Cervical Cancer, Spine Cancer, Others), End User (Hospitals, Radiation Therapy Centers, Specialty Clinics, Others), Distribution Channel (Direct Tender, Retail Sales, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Varian Medical Systems, Inc. (U.S.), Mevion Medical Systems (U.S.), VIEWRAY TECHNOLOGIES, INC. (A Subsidiary of ViewRay) (U.S.), Siemens Healthcare GmbH (Germany), Elekta AB (Sweden), Accuray Incorporated (U.S.), IBA Worldwide (Belgium), Eckert & Ziegler BEBIG (Germany), RaySearch Laboratories (Sweden), Brainlab AG, Koninklijke Philips N.V. (Netherlands), General Electric (U.S.), Hitachi, Ltd. (Japan), Advanced Accelerator Applications (A Subsidiary of Novartis AG) (France), Provision Healthcare. (U.S.), CIVCO Radiotherapy (A Subsidiary of Roper Technologies) (U.S.) and Isoray Inc, (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:
Global radiotherapy market is categorized into five notable segments which are type, product, application, end user and distribution channel.
- On the basis of type, global radiotherapy market is segmented into external-beam radiation therapy, internal radiation therapy, systemic radiotherapy/radiopharmaceuticals and others.
In 2020, external-beam radiation therapy segment is expected to dominate the global radiotherapy market
External-beam radiation therapy segment is expected to dominate the global radiotherapy market with 87.99% market share due to due to the high adoption of external-beam radiation therapy for the treatment of breast cancer, lung cancer, prostate cancer, colorectal cancer, lymphoma, liver cancer, thyroid cancer, brain cancer, cervical cancer, and spine cancer among others.
- On the basis of product, global radiotherapy market is segmented into external beam radiotherapy, internal radiotherapy products, radiotherapy software and others. In 2020, external beam radiotherapy segment is expected to dominate the global radiotherapy market with 74.35% market share due to increasing demand of external-beam radiation therapy devices such as linac, proton therapy, cyber knife, gamma knife for treatment of breast cancer.
- On the basis of application, global radiotherapy 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 2020, breast cancer segment is expected to dominate the global radiotherapy market
Breast cancer segment is expected to dominate the global radiotherapy market with 28.43% market share due to the increasing prevalence of breast cancer across the world; also breast cancer is the most common cancer in women worldwide.
- On the basis of end user, global radiotherapy market is segmented into hospitals, radiation therapy centers, specialty clinics and others. In 2020, hospitals segment is expected to dominate the global radiotherapy market with 66.72%market share due to an outpatient procedure in the hospital that normally takes less than 60 minutes and hospitals are one of the first contact point and the most trustable option for the patients in various countries for the treatment of cancer disease.
- On the basis of distribution channel, global radiotherapy market is segmented into direct tender, retail sales and others. In 2020, direct tender segment is expected to dominate the global radiotherapy market with 81.54% market share because most of the hospitals, radiation therapy centers, specialty clinics, ambulatory surgical centers and academic and research organizations prefer direct tender for seeking the benefits of bulk buying, discounts and easily availability of products.
Major Players
Data Bridge Market Research recognizes the following companies as the major radiotherapy market players in radiotherapy market are Varian Medical Systems, Inc. (U.S.), Mevion Medical Systems (U.S.), VIEWRAY TECHNOLOGIES, INC. (A Subsidiary of ViewRay) (U.S.), Siemens Healthcare GmbH (Germany), Elekta AB (Sweden), Accuray Incorporated (U.S.), IBA Worldwide (Belgium), Eckert & Ziegler BEBIG (Germany), RaySearch Laboratories (Sweden), Brainlab AG, Koninklijke Philips N.V. (Netherlands), General Electric (U.S.), Hitachi, Ltd. (Japan), Advanced Accelerator Applications (A Subsidiary of Novartis AG) (France), Provision Healthcare. (U.S.), CIVCO Radiotherapy (A Subsidiary of Roper Technologies) (U.S.) and Isoray Inc, (U.S.) among others.
Market Development
- In May 2020, Elekta AB introduced the Leksell Gamma Knife, a next-generation treatment optimizer for intracranial stereotactic radiosurgery. The company expanded its product portfolio and generated sufficient revenue by launching a new product.
- In September 2019, Siemens Healthcare GmbH introduced two dedicated CT systems, Somatom go. The new system improves radiotherapy planning accuracy. The company has expanded its product portfolio and generated sufficient revenue in the market by launching new products.
- In May 2020, Hitachi, Ltd. announced that they installed their first advanced proton therapy system in the Clínica Universidad de Navarra (Madrid, Spain) in their first advanced proton therapy system. Clínica Universidad de Navarra is the first hospital where Hitachi has installed the whole proton therapy system. After this announcement, the company has improved their business and generates satisfactory revenue into the market.
Regional Analysis
Geographically, the countries covered in the Radiotherapy market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
As per Data Bridge Market Research analysis:
North America is the dominant region in radiotherapy market during the forecast period 2020 - 2027
In 2019, North America dominated the radiotherapy market because of the high adoption of radiotherapy for the treatment of cancer diseases and the increasing prevalence of cancer disease.
Asia-Pacific is estimated to be the fastest-growing region in radiotherapy market the forecast period 2020 - 2027
Asia-Pacific is expected to grow during the forecast period due to increasing diagnosis rate with rising government initiatives for awareness regarding the importance of diagnosis.
COVID-19 Impact Analysis
The COVID-19 pandemic had a significant impact on the market under consideration. Following the outbreak of the pandemic, World Health Organization (WHO) guidelines advised chronic disease patients to remain indoors. However, the number of researchers studying the impact of treatment delays on cancer patients has increased as a result of COVID-19. During the pandemic, there was an increase in research and studies to determine the efficacy of radiation therapy in treating COVID-19 infection. Low-dose radiation therapy (LD-RT) has been shown to have an anti-inflammatory effect, and preliminary results of the study showed that LD-RT is feasible to treat patients with Covid-19 pneumonia, according to their conclusion in March 2021. During the pandemic, such research is expected to increase demand for radiation therapy. As a result, the pandemic is expected to have a significant impact on the market under consideration.
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