Global Radiotherapy Market is expected to reach USD 9.3 billion by 2024 from USD 5.2 billion in 2016, at a CAGR of 7.5% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Global Radiotherapy Market Segmentation:
The global radiotherapy market is segmented on the basis of type, product type, indication, and geography. The global radiotherapy market is segmented into three types, namely beam radiotherapy, brachytherapy and systematic radiotherapy. In 2017, the beam radiotherapy segment is expected to dominate the market with a share around 75.0% and is expected to continue this trend till 2024.
Radiotherapy Market is segmented into beam radiotherapy, brachytherapy and systematic radiotherapy. The beam radiotherapy is segmented into IGRT, IMRT, VMAT, tomotherapy, stereotactic technology and 3D conformal technology. The brachytherapy is segmented into LDR and HDR.
On the basis of product type, the market is segmented into external beam radiotherapy, internal radiotherapy products, radiotherapy softwares and systematic radiotherapy.
On the basis of indication, the market is segmented into prostate cancer, breast cancer, lung cancer, spine cancer, liver cancer, brain cancer and others.
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Global Radiotherapy Market Key Drivers:
Some of the major factors driving the market for radiotherapy market are increasing patient pool for cancer,increasing ageing population, increase in out-patient cancer facilities and increasing demand for better radiotherapy equipments and replacement of out dated products. One of the major factors for growth of these devices is owing to unmet needs of radiotherapy infrastructure in emerging and developed economies.
- Regulatory scenario and the high cost of radiotherapy are the factors which may hinder the growth of this market.
- Many companies are increasingly focusing on radiotherapy devices in order to strengthen their product portfolios in the radiotherapy market.
- Increment in patient mindfulness levels with respect to early infection diagnostics will drive the market in future.
Global Radiotherapy Market Landscape:
Varian Medical Systems, Inc. dominated the radiotherapy market followed by Elekta AB, and Accuray, Inc. along with others CIVCO Medical Solutions, Brainlab AG, C. R. Bard, Inc., IsoRay Medical, Inc., Nordion, Inc., RaySearch Laboratories AB, PRECISIS AG, Mevion Medical Systems, Inc., TechnicasRadiofiscas S.L., Hitachi, Ltd., Sumitomo Heavy Industries, Ltd., Mitsubishi Electric Corporation, ProNova Solutions, LLC, and ProTom International
- Beam radiotherapy market is growing with the highest CAGR.
- Globally external beam radiotherapy is having the highest market share. However, radiotherapy softwaresare growing with highest CAGR.
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