The global Radiotherapy Market was valued at USD 6.5 billion in 2021 and it is anticipated to grow up to USD 11.7 billion by 2031, at a CAGR of 6.0% during the forecast period.
Radiotherapy, commonly known as radiation therapy, is used for cancer patients to cure cancer by destroying the cancer cells and reducing the size of tumors. X-rays, gamma rays, and charged particles are commonly used radiotherapy markets during radiotherapy. Modern radiotherapy makes use of highly precise collimating devices that positively impacts the market expansion.
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Market Trends and Drivers
Rising number of cancer cases is expected to accelerate the market growth Surging number of cancer cases worldwide is expected to foster the market demand for radiotherapy over the analysis timeframe.
According to the WHO, cancer is the leading cause of death globally and around ten million deaths occurred in 2020. Breast, prostate, lung, colon and rectum are among the most common cancers that further accelerates the market progress for radiotherapy.
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Similarly, according to International Agency for Research on Cancer (IARC), over seventeen million new cancer cases across the globe were observed in 2018. And by 2040, it is projected to grow to 27.5 million new cases.
Therefore, radiotherapy is the most common method used to treat cancer and ease the symptoms of cancer and further slows or stops the growth of damaged cells. Hence, aforementioned aspects will prove beneficial for the overall market progression.
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Global Radiotherapy Market Segmentation
Type
- External Beam Radiation Therapy
- Intensity-Modulated Radiation Therapy (IMRT)
- Image-Guided Radiation Therapy (IGRT)
- Proton Therapy
- Others
- Internal Radiation Therapy
- Systemic Radiation Therapy
Application
- Lung Cancer
- Prostate Cancer
- Breast Cancer
- Cervical Cancer
- Head & Neck Cancer
- Others
End-use
- Hospitals
- Radiotherapy Centers & Ambulatory Surgery Centers
- Cancer Research Institutes
Major Players in the Global Radiotherapy Market
The key players in the market are Siemens Healthineers AG (Germany), Elekta (Sweden), Accuray Incorporated (US), IBA (Belgium), ViewRay Technologies, Inc. (US), Hitachi Ltd. (Japan), iCAD, Inc. (US), Mevion Medical Systems, Inc. (US), Panacea Medical Technologies Pvt. Ltd. (India), ZEISS Group (Germany), among others.
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