PUBLISHER: 360iResearch | PRODUCT CODE: 1471241
PUBLISHER: 360iResearch | PRODUCT CODE: 1471241
[183 Pages Report] The Radiation Therapy Equipment Market size was estimated at USD 7.76 billion in 2023 and expected to reach USD 8.28 billion in 2024, at a CAGR 7.11% to reach USD 12.55 billion by 2030.
Radiation therapy equipment is a type of medical equipment used to treat cancer and other conditions with radiation. Radiation therapy has the ability to precisely target tumors while minimizing injury to nearby healthy tissue. Radiation therapy equipment is mostly of high power and has the ability to deliver different dose levels, allowing doctors to customize treatment plans for each patient. The prevalence of cancer and the increasing adoption of surgical procedures have been the major factors driving the need for advanced radiotherapy equipment. Governments have taken multiple initiatives to expand access to cancer treatment, and improved reimbursement coverage has enabled more patients to adopt the treatment. However, the stringent government regulations regarding the approval of equipment have been impeding their penetration in many economies. Market players are consistently working on enhancing the operational abilities of radiotherapy equipment with digital and automated advancements and are maintaining the utmost quality care to ensure fast product approval. Moreover, exponential private-public investments in cancer treatment R&D are expected to encourage the development of new treatment equipment.
KEY MARKET STATISTICS | |
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Base Year [2023] | USD 7.76 billion |
Estimated Year [2024] | USD 8.28 billion |
Forecast Year [2030] | USD 12.55 billion |
CAGR (%) | 7.11% |
Type: Ongoing advancements in particle therapy systems to deliver more precise radiation therapy
External beam radiotherapy (EBRT) is a non-invasive method for providing high doses of radiation to tumors from outside the body. Conventional Cobalt-60 teletherapy units are one of the earliest forms of external beam radiotherapy equipment used in the treatment of cancer. These units operate by using gamma rays emitted from a radioactive Cobalt-60 source to destroy cancerous tissues. Linear accelerators, referred to as linacs, are the modern external beam radiotherapy. Linear accelerators deliver high-energy X-rays and electrons to the region of the patient's tumor. These devices are highly versatile, permitting a considerable degree of precision and control over the radiation dose delivered, which can be modulated to conform to the three-dimensional shape of the tumor. Particle therapy systems represent a cutting-edge and sophisticated subset of external beam radiotherapy that uses particles such as protons and heavy ions instead of X-rays to treat cancer. These systems, including proton therapy and carbon ion therapy, allow for precise delivery of radiation with a distinct physical advantage known as the Bragg peak, where the maximum energy release occurs just before the particles come to a stop within the tissue. Internal beam radiotherapy involves placing radiation sources inside and adjacent to the tumor itself. This type of therapy is necessary when a high dose of radiation is required directly at the tumor site, which is often used in the treatment of prostate, cervical, and breast cancers. Afterloaders play a pivotal role in brachytherapy, a type of internal beam radiotherapy. These sophisticated devices allow for the precise placement of radioactive sources within or adjacent to the tissue requiring treatment while minimizing exposure to healthcare personnel. Applicators are vital instruments used in brachytherapy to position radioactive sources at the treatment site. These tools come in various shapes and sizes, tailored to specific body sites and treatment protocols. Intraoperative radiotherapy systems are cutting-edge devices used to provide radiation to a tumor site during surgery. IORT systems allow for direct radiation delivery after the tumor is removed, while the surrounding healthy tissue can be temporarily displaced and protected. Seeds refer to tiny radioactive implants used in a form of brachytherapy called seed implantation. These seeds are implanted directly into the prostate gland, emitting a continuous but diminishing dose of radiation over time to destroy cancer cells.
Application: Increasing prevalence of breast cancer drives the deployment of radiation therapy equipment
In the treatment of blood cancers such as lymphoma, leukemia, and myeloma, radiation therapy can be used to destroy cancerous cells in the bone marrow, spleen, and other areas where the disease has spread. It can be used before a stem cell transplant to prepare the body to receive new blood-forming cells. Radiation therapy is a mainstay in breast cancer treatment. Post-surgery, it can be used to destroy any remaining tumor cells in the breast, chest wall, and axilla. In certain cases, it can be employed prior to surgery to shrink tumors and used palliatively to relieve symptoms of advanced cancer. For gastrointestinal cancers, including cancer of the stomach, colon, rectum, and pancreas, radiation therapy can be applied externally and internally. It is often used preoperatively to reduce tumor size and postoperatively to target residual cancer cells. It can also be essential for palliative care to alleviate pain, bleeding, and blockages. Radiation therapy for prostate cancer can be delivered through external beam radiation and brachytherapy. It can serve as a primary treatment and be used after surgery to treat remaining cancer. Advanced techniques such as image-guided radiation therapy (IGRT) and intensity-modulated radiation therapy (IMRT) allow for more precise targeting, minimizing damage to surrounding tissues. For lung and other respiratory cancers, radiation therapy can be a primary treatment and combined with other modalities. It is effective in managing small-cell and non-small-cell lung cancers, particularly for patients who cannot undergo surgery. Stereotactic body radiation therapy is a developed form offering high-precision treatment for smaller lung tumors. Radiation therapy is useful in treating squamous cell carcinoma and basal cell carcinoma, a type of skin cancer. It is a non-invasive remedy option that can be considered if surgery is not preferred and if the patient has other health issues that make surgery risky. Radiation therapy can be a curative treatment or used to relieve symptoms in advanced cancers. In non-cancer applications, radiation therapy equipment is used in the treatment of benign diseases, such as thyrotoxicosis and certain inflammatory disorders. The preference for radiation therapy in non-cancer treatments is based on the targeted action and capability to provide a non-invasive treatment option that can replace surgery and pharmacological interventions in some cases.
End-User: Hospitals prioritize versatile and high-throughput systems due to their large patient base
Hospitals represent the largest end-user segment for radiation therapy equipment. They often require a broad range of radiation therapy solutions to cater to diverse patient needs. Hospitals benefit from having different types of radiation therapy equipment, such as linear accelerators, proton therapy systems, and brachytherapy systems, to provide comprehensive cancer treatment services. Specialty clinics often focus on treating specific types of cancers and, as such, require specialized radiation therapy equipment tailored to their particular needs. The preference for these clinics includes equipment that is optimized for the treatment of specific cancer types, is cost-effective for lower patient volumes, and can be easily integrated into smaller clinical settings.
Regional Insights
The Americas region observes an advanced market for radiation therapy equipment supported by the presence of established players offering highly automated equipment and developed cancer care infrastructure. The U.S. and Canada have expanded the provision of reimbursements for cancer care, which has enabled patients to access quality care with different equipment. The Asia-Pacific region observes a high prevalence of cancer cases, and medical institutes are constantly conducting R&D studies to develop improved therapies, which require new equipment. The European region has the presence of the most well-recognized players, with years of experience in offering radiotherapy equipment. Several government initiatives and awareness programs for cancer treatment have expanded the patient preference for surgeries in the early stages. The European Medical Agency and the U.S. Food and Drug Administration provide strict guidelines regarding the approval and marketing of radiotherapy equipment. However, in recent years, players have been able to achieve commercialization authorization in these countries for products that can be essential in cancer treatment.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Radiation Therapy Equipment Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Radiation Therapy Equipment Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Radiation Therapy Equipment Market, highlighting leading vendors and their innovative profiles. These include Accuray Incorporated, Allengers Medical Systems Ltd, BEBIG Medical GmbH, Bionix LLC, BrainLab AG, Canon Inc., Carl Zeiss AG, Eckert and Ziegler AG, Elekta AB, GE HealthCare Technologies Inc., Hitachi, Ltd., IntraOp Medical Corp., Ion Beam Applications S.A., Klarity Medical & Equipment (GZ) Co., Ltd., LINEV Group, Mevion Medical Systems, Inc., MinXray, Inc., Mitsubishi Heavy Industries, Ltd., Nordion by Sotera Health LLC, Oraya Therapeutics Inc., PTW Freiburg GmbH, RefleXion Medical, Inc., Royal Philips, Siemens Healthineers AG, Stryker Corporation, Sumitomo Heavy Industries, Ltd., and Xstrahl Group.
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Radiation Therapy Equipment Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Radiation Therapy Equipment Market?
3. What are the technology trends and regulatory frameworks in the Radiation Therapy Equipment Market?
4. What is the market share of the leading vendors in the Radiation Therapy Equipment Market?
5. Which modes and strategic moves are suitable for entering the Radiation Therapy Equipment Market?