Global Radiotherapy Market– Overview
The radiotherapy industry has grown significantly in the past few years owing to the increased pace of innovation. Market Research Future which concentrates on market reports linked to medical device sector amongst others recently made available a report on this sector. The sector will develop very swiftly at a rate of 7 per cent CAGR while it is consequently projected to reach USD 7 million during the forecasted period.
Rapid development in the market due to increased pace of innovations that have been achieved in this field have led to the robust development of the market. Increased incidences of cancer cases of various categories have been fuelling the growth of this sector to a great extent. Better diagnostic abilities of the medical service providers have also been instrumental to the development of the market.
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Industry Segments
The division for the radiotherapy sector has been carried out on the category of the application and treatment type. The category of treatment type comprises of Gamma ray, X-Ray, proton therapy, external beam radiotherapy and internal radiation therapy. The external beam radiotherapy category is additionally sub-divided into the treatment types which include intensity modulated radiation therapy (IMRT), 3D conformal radiation therapy, Tomotherapy, Stereotactic radio surgery, image guided radiation therapy (IGRT) and stereotactic body radiation therapy. On the criteria of application the categories are breast cancer, prostate cancer and lung cancer, thyroid and ovarian cancer.
Detailed Regional Analysis
The market for radiotherapy is divided into four chief regions in terms of geography Europe, Americas, Asia-Pacific, and Middle East and Africa. The American continent holds the larger market share in the market for radiotherapy owing to the rising development in the technology in the sector. The European market is an added controlling region which employs the use of the radiotherapy extensively. The Asia-pacific region is rising at a swift pace due to the rising number of patients in the region. The figure is also increasing owing to the rising levels of consumptions of tobacco which is seen in this region. The Middle East and African markets are a slow emerging segment due to the lack of awareness of chronic diseases and also because the healing facilities are also limited in this region.
Global Competitive Analysis
The companies in this industry space are connecting their resources to achieve their vision for achieving considerable portion of the business as early as possible. This consequence is productive for firms so that they may maintain fiscal liquidity to take the best conclusions in terms of strategy execution and planning. The rewarding scenarios accessible in this market are being utilized by candidates who are trying to extend their market coverage by centered development which will prove to be perfect for the growth of this industry sector. The products that are on offer presently vary greatly due to the reason of the strong pace of technological discoveries. This has raised the chances for the approaching growth period.
A few of the players who are involved in the manufacturing of the Radiotherapy devices are, Siemens (Germany), GE Healthcare(UK), Varian(India), Nordion(CA), Isoray(US), Cardinal Health(US) and View ray (US).
Industry Updates:
Feb 2018 The foremost international provider of innovative, superior quality and patient-centric radiotherapy solutions, CIVCO and Stratpharma AG which is a Swiss company that concentrates in pioneering topical medical products to progress post-procedure results, have joined their synergies to concentrate on wound care for patients in radiation therapy. This enterprise is in line with the missions of the two companies to emphasize on patient outcomes in the space for radiation therapy. CIVCO will be the special provider in the U.S. of the StrataXRT product which is a ground-breaking wound dressing in the treatment for dermatitis from radiation. Reactions which are acute and radiation-induced skin are an unavoidable result of radiation therapy and happen in up to 95% of patients getting treatment to the groin, breast or perineum. The StrataXRT is a gel which is a self-drying wound dressing is developed to be used through and after radiation treatment.
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