PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1386902
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1386902
Scope of the Report | |
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Years Considered for the Study | 2021-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | Value (USD) Billion |
Segments | Type, Technology, Application, Procedure, End User, and Region |
Regions covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
The global radiotherapy market is projected to reach USD 8.8 billion by 2028 from USD 6.9 billion in 2023, growing at a CAGR of 5.0% during the forecast period. The rising incidence of cancer worldwide, advancements in radiotherapy treatment technologies, and growing adoption of particle therapy among cancer centers globally are likely to support the growth of radiotherapy market during the forecast period.
" Software & Services segment of global radiotherapy market to grow with the highest CAGR in the forecast period."
Based on type, the radiotherapy market is segmented into products and software & services. The software & service segment is expected to register a higher growth rate majorly in well-established market such as North America and Europe. The ongoing advancements in radiotherapy and increasing demand for more precise, and personalized cancer care treatment plan are leading towards the development of innovative radiotherapy softwares & services.
" External Beam Radiotherapy segment, by technology , accounted for the largest market share of global radiotherapy system market in 2022."
Based on technology, the radiotherapy market has been segmented into external beam radiotherapy and internal beam radiotherapy. The external beam radiotherapy (EBRT) segment accounted for the largest share of radiotherapy in 2022, owing to widespread adoption external beam radiotherapy technology and continuous investment in R&D by market players for development and commercializing advanced external beam radiotherapy technologies.
" Prostate cancer, by external beam radiotherapy application , accounted for the largest market share of in 2022."
Based on application, the radiotherapy market is classified into two major segments-external beam radiotherapy and internal beam radiotherapy/brachytherapy applications.
The external beam radiotherapy applications segment is further segmeneted into breast, prostate cancer, head and neck cancer, lung cancer, colorectla cancer and other cancer
The internal beam radiotherapy/brachytherapy applications segment is further divided into prostate cancer, gynecological cancer, breast cancer, cervical cancer, penile cancer, and other cancers (lung cancer and head and neck cancers).
Prostate cancer accounted for the largest market share in 2022 owing to the increasing incidence of prostate cancer globally, advantages offered by external beam radiotherapy treatment for prostate cancer, and increase in research activities in the field of radiation therapy for prostate cancer treatment
North America accounted for the largest share of the radiotherapy market by region.
The global radiotherapy market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the largest regional market for radiotherapy products and services , whereas the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. The largest share of North America can be attributed to the rapid adoption of advanced radiotherapy technologies, increases collaboration among radiotherapy software manufacturers and end users, presence of diverse network of healthcare facilities and services across countries of North America , and favorable reimbursement models supporting cancer care in the region
The prominent players in the radiotherapy market are Siemens Healthcare GmbH (Germany), Elekta (Sweden), Accuray Incorporated (US), IBA (Belgium), ViewRay Technologies, Inc. (US), C-RAD (Sweden), IBA Worldwide (Belgium), Hitachi Ltd. (Japan (US), Mevion Medical Systems (US), Optivus Proton Therapy, Inc. (US) and Panacea Medical Technologies Pvt. Ltd. (India), among others.
Research Coverage
This report studies the radiotherapy market based on product, technology, application, end-user, and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their market presence.
(Business overview, Products/Services/Solutions offered, Recent Developments, MNM view)**