What Has Been the Progress and Growth of the Radiotherapy Market in Recent Years?
The radiotherapy market has seen considerable growth due to a variety of factors.
• In recent times, there has been a robust expansion of the radiotherapy market size. The worth of this market is projected to scale up from $7.38 billion in 2024 to $7.92 billion in 2025, with a compound annual growth rate (CAGR) of 7.3%.
The escalating growth during the historic period can be ascribed to the worldwide rise in cancer cases, growing demand for non-invasive methodologies of treating cancer, expansion of healthcare facilities, an upswing in the acceptance of personalized medicine, and an increase in the number of patients necessitating cancer therapy.
What Can Be Expected from the Radiotherapy Market Size?
The radiotherapy market is expected to maintain its strong growth trajectory in upcoming years.
• The market for radiotherapy is predicted to show considerable growth in the upcoming years, hitting $10.35 billion in 2029, by maintaining a compound annual growth rate (CAGR) of 6.9%.
The burgeoning growth during the forecast period is linked to the invest more in advanced health technologies, growing preference for less invasive treatment methods, emerging demand for domestic healthcare solutions, an increasing focus on quality assurance agendas, and amplified international health drives for cancer care. The major upcoming trends during this forecast period involve advancements in image-guided radiotherapy, particle therapy innovations, the invention of new brachytherapy techniques, improvements in cyberKnife technology, and the incorporation of artificial intelligence in the treatment planning process.
What Are the Critical Driver Fuelling The Radiotherapy Market's Growth?
The radiotherapy market is predicted to grow due to the escalating incidences of cancer. Cancer symbolizes a disease marked by irregular cell growth that is unregulated, invading and spreading to various parts of the body, initiating several types and symptoms. The surge in cancer cases is ascribed to circumstances such as the growing elderly population, lifestyle alterations encompassing poor dietary habits and inactive behavior, elevated consumption of tobacco and alcohol, environmental pollution, and the emergence of enhanced diagnostic tools which enables the detection of more cases. Radiotherapy significantly contributes to cancer treatment by precisely aiming and eliminating cancerous cells, which helps in shrinking tumor size and enhances patient outcomes. As an instance, the Macmillan Cancer Support, a charitable organization based in the UK supporting cancer patients, reported in August 2024, that more than 3 million people in the UK were dealing with cancer in 2024, this rate is expected to rise to 3.5 million by 2025, 4 million by 2030, and 5.3 million by 2040. Consequently, the surging occurrences of cancer are fuelling the expansion of the radiotherapy market.
How Is The Radiotherapy Market segmented?
The radiotherapy market covered in this report is segmented –
1) By Therapy Type: External Beam Radiation Therapy, Internal Beam Radiation Therapy, Systemic Radiation Therapy
2) By Application: Prostate Cancer, Breast Cancer, Lung Cancer, Head And Neck Cancer, Colorectal Cancer, Gynecological Cancer, Cervical Cancer, Penile Cancer, Other Applications
3) By End-User: Hospitals And Diagnostic Laboratories, Cancer Treatment And Research Centers, Academic Research Organizations, Ambulatory Surgery Centers, Other End-Users
Subsegments:
1) By External Beam Radiation Therapy: Intensity-Modulated Radiation Therapy (IMRT), Stereotactic Body Radiation Therapy (SBRT), 3D Conformal Radiation Therapy (3D-CRT), Proton Beam Therapy, Image-Guided Radiation Therapy (IGRT), Volumetric Modulated Arc Therapy (VMAT)
2) By Internal Beam Radiation Therapy: Brachytherapy (High-Dose Rate), Brachytherapy (Low-Dose Rate), Intraoperative Radiation Therapy (IORT), Permanent Seed Implants
3) By Systemic Radiation Therapy: Radioisotope Therapy, Targeted Radionuclide Therapy, Radioimmunotherapy, Peptide Receptor Radionuclide Therapy (PRRT)
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How Are Emerging Trends Reshaping The Dynamics Of The Radiotherapy Market?
Major businesses in the radiotherapy sector, like Elekta AB, are concentrating their efforts on the invention of ground-breaking technologies. This includes developments in image-guided radiotherapy (IGRT), which are meant to boost the exactness and efficiency of therapies, enhance patient results, and reduce harm to adjacent healthy tissues. The use of cutting-edge imaging implements enables IGRT to precisely target tumors during radiation treatments, with an additional benefit of real-time tracking and adjustment of the tumor's position, thus bringing about an improvement in accuracy. As an illustration, in May 2022, Elekta AB, a firm based in Sweden and operational in the medical technology industry, introduced the Elekta Esprit. The system, a next-gen radiosurgery apparatus, brings about substantial improvement to the capabilities of stereotactic radiosurgery. The Elekta Esprit is a single platform housing numerous innovations, offering treatment teams excellent visualization and remote accessibility. The system's flexible design allows it to cater to different workflow scenarios including solitary session, fractionated, adaptive, or phased protocols, all tailored to guarantee user-friendliness and operational efficiency in clinical environments. With a less than 0.3 mm margin of error, the system can handle the treatment of even the most complex targets while ensuring minimal damage to healthy tissues in the surrounding area.
Who Are the Key Players In The Radiotherapy Market?
Major companies operating in the radiotherapy market are:
• Hitachi Ltd.
• Koninklijke Philips N.V.
• GE Healthcare Technologies Inc.
• Sumitomo Heavy Industries Ltd.
• Varian Medical Systems Inc.
• Elekta AB
• Accuray Incorporated
• Ion Beam Applications S.A
• Canon Medical Systems Corporation
• RefleXion Medical Inc.
• Mevion Medical Systems Inc.
• Nordion Inc.
• Theragenics Corporation
• RaySearch Laboratories AB
• MIM Software Inc.
• Vision RT Ltd.
• Sun Nuclear Corporation
• Provision Healthcare LLC
• Panacea Medical Technologies Pvt. Ltd.
• Optivus Proton Therapy Inc.
• Perspective Therapeutics Inc.
• GT Medical Technologies Inc.
• ProTom International Inc.
What Is The Most Dominant Region In The Radiotherapy Market?
North America was the largest region in the radiotherapy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the radiotherapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
