Market Research Report
Global Radiation Therapy Market - Analysis By Product Type (External Beam RT, Internal Beam RT), By Application, By End User, By Region, By Country (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)
|Global Radiation Therapy Market - Analysis By Product Type (External Beam RT, Internal Beam RT), By Application, By End User, By Region, By Country (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)|
Published: June 30, 2020
Content info: 190 Pages
Delivery time: 2-3 business days
The global radiation therapy market was valued at USD 5216.04 million in the year 2019, according to a research report published by Azoth Analytics in June 2020. The growth of the radiation therapy market will primarily be supported by an Increasing public health spending as cancer is the second most deadly disease in the world, coupled with governments in different countries focusing on improving health facilities to lower cancer mortality rates, which will boost market growth over the forecast period.
United States holds the highest proportion of radiation therapy facilities per million patients globally whereas China has the lowest proportion of radiation therapy facility installations among developing nations, as the country has less than 1 facility per million patients. Hence, the developing economies of the world like India and China holds immense market potential for radiation therapy as there is an acute shortage of radiation therapy centers in the Asia Pacific region.
Under the product segment, External-Beam Radiation Therapy is anticipated to witness the largest market share owing to ever increasing cases of Lung cancer, Breast cancer and low cost of cancer treatment by radiation therapy, various companies are focusing on research and development in order to offer better treatment to cancer patients, which will accelerate the Global Radiation Therapy market growth in the coming years.
Hospitals and others followed by clinics attained substantial market share chiefly on the back of growing collaborations or partnership with leading manufacturers with clinics, doctors, surgeons, and hospitals in order to better understand the requirements of consumers and provide them the desired products backed with rising adoption of Radiation Therapy with escalating number of breast cancer cases.
Among the regions, EMEA, followed by Americas and Asia Pacific, will experience remarkable market share owing to presence of leading Radiation therapy equipment manufacturers in the region which are constantly engaged in meeting consumers' demands coupled with growing awareness among people regarding cancer. These factors will be propelling the Radiation Therapy market growth during the period of 2020-2025.