Dublin, Nov. 17, 2021 (GLOBE NEWSWIRE) -- The "Radiation Therapy Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Radiation Therapy Equipment Market to Reach US$6.6 Billion by the Year 2026
Global market for Radiation Therapy Equipment estimated at US$5.2 Billion in the year 2020, is projected to reach a revised size of US$6.6 Billion by 2026, growing at a CAGR of 4.3% over the analysis period.
Radiation therapy or radiotherapy has emerged as an integral part of treatment for cancer patients. By using high-energy radiation from sources such as X-rays, neutrons, protons, and gamma rays, radiotherapy kills cancer-affected tissues or prevents multiplication of cancer cells in the body.
Growth in the global market continues to be driven by the constant increase in the number of cancer patients across the world and the increasing adoption of radiation therapy for treatment of cancer. Advancing cancer treatment technologies and increasing availability of reimbursement coverage for radiotherapy treatments is expected to favor market growth.
Also driving growth is the steadily expanding elderly population and rising incidence of cancer in this age group. Reducing cost of treatment in several developed nations, and increasing government and private investments in research and development associated with cancer treatment are fostering growth in the global radiotherapy equipment market.
The recent advancements and innovations in the radiation therapy space have led to the development of effective treatments, a good prognosis, and reduced side effects during the treatment. There are significant developments observed in the areas of stereotactic body radiation therapy (SBRT), intensity-modulated radiation therapy (IMRT), nanotechnology, 4D imaging, particle therapy, which are further improving the radiotherapy treatments.
External Beam Radiation Therapy, one of the segments analyzed in the report, is projected to grow at a 4.5% CAGR to reach US$5.9 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Internal Radiation Therapy segment is readjusted to a revised 3.5% CAGR for the next 7-year period. This segment currently accounts for a 9.5% share of the global Radiation Therapy Equipment market.
The external beam radiation therapy involves transmission of radiation through a machine that is placed outside the body. Incidence of cancer cases, and increasing patient and physician awareness about procedures, ongoing improvement in diagnostic techniques, and availability of advanced diagnostic techniques are driving segment growth.
Internal radiation therapy, also termed as brachytherapy, involves placing radioactive material or implant through a catheter, at the tumor site and at surrounding tissue. Growth in the segment is led primarily by the expanding pool of cancer patients.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Pandemic Impacts Radiation Oncology Services
Amidst the COVID-19 Pandemic, Radiation Oncology Centers Implement Workflow Changes
Potential Role for Radiation Therapy in Treatment of COVID-19
AI, Machine Learning & Other IT Technologies to Tackle Pandemic-Led Cancer Backlogs
Potential Role of Low-Dose Radiation Therapy for COVID-19 Treatment
Radiation Therapy: An Effective, Affordable, Non-Surgical Treatment Option for Cancer Patients
Radiation Therapy Equipment: Enabling Best-in-Class Cancer Care
Global Market Prospects & Outlook
Developed Regions Dominate Radiotherapy Equipment Market
Replacement Demand Drives Revenue Growth in Developed Regions
Developing Regions to Spearhead Future Growth
LINACs Market: Dominated by Variant and Elekta
IBA: The Predominant Player in Proton Therapy Equipment Market
Treatment Planning Systems Market
2. FOCUS ON SELECT PLAYERS (Total 54 Featured)
Hitachi America, Ltd.
RaySearch Laboratories AB
Sumitomo Heavy Industries Ltd.
Varian Medical Systems, Inc.
3. MARKET TRENDS & DRIVERS
Rising Incidence of Cancer & Need to Reduce Cancer-Related Mortality: Cornerstone for Present & Future Growth
Underserved Demand for Radiation Oncology Therapy Drives Market
Increasing Healthcare Expenditure Creates Conducive Environment
External Beam Radiotherapy Equipment: The Largest Product Category
Linear Accelerator (LINAC): A Vital Constituent of EBRT
LINACs Replace Conventional Radiotherapy Equipment
MRI-LINACs Revolutionizes Cancer Care
Proton Therapy Revolutionizes Radiation Therapy Space
Intensely-Modulated Proton Therapy (IMPT): The Future of Proton Therapy
High Cost: A Barrier to Adoption
Systemic Radiation Therapy Equipment: A Small Yet Growing Market
Internal Radiation Therapy Equipment: Overview
Intensity Modulated Radiation Therapy (IMRT) Equipment Help Hospitals Improve Outcomes
Stereotactic Radio Surgery Treatment Gaining Traction
Adaptive Radiation Therapy (ART) Gains Significance
Image Guided Radiotherapy (IGRT) Grows in Prominence
Surface Guided Radiation Therapy Systems Market: Stable Growth Outlook
Oncology Information Systems (OIS): Assisting Management of Complex and Advanced Radiation Therapies
Data-Intensive Radiation Oncology Promotes OIS Connection to EHRs
Advancing Radiation Therapy Raises Importance of Treatment Planning Systems
Progressive Advancements Augment Use Case of Treatment Planning Platforms
Increasing Role of Imaging in Treatment Planning
Radiotherapy Positioning Devices Market: Poised for Growth
Innovative Therapies Revolutionize Radiation Treatment
Flash Radiation Therapy: Future Trend
Intraoperative Radiation Therapy Market
Technological Innovations Spur Radiation Therapy Equipment Market
Hybrid Systems Enable Superior Treatment Efficacy
Computer Simulators Improve Radiation Therapy Outcomes
Need to Boost Productivity Accelerates Deployment of High-Tech Equipment
Personalized Radiation Therapy: The Way Forward
Promising Role of Brachytherapy Device and Intensity-Modulated Radiation for Eye Cancer Treatment
Select Innovations in Radiation Therapy Space
Artificial Intelligence and Machine Learning in Radiotherapy Treatment
Technology-driven Research for Development in Radiotherapy
Refurbished Radiation Therapy Equipment: Changing with the Times
Expanding Aging Population at High Risk of Cancer to Benefit Market Expansion
Challenges Confronting Radiation Therapy Equipment Market
Radiation Therapy: Product Overview
Types of Radiation Therapy
External Beam Radiation Therapy (EBRT/XRT) or Teletherapy
Internal Beam Radio Therapy/Brachytherapy
Systemic Radioisotope Therapy (RIT)
Other Forms of Radiation Therapy
Linear Accelerators (LINACs)
Radiation Therapy Simulator
Treatment Planning System: An Innovative Technique in Radiation Therapy
Tumor Localization and Treatment Simulation Devices
Patient Restraint and Repositioning Devices
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/7gj8oy
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