Industry Background:
The incidence of cancer is increasing, particularly because of the increase in life expectancy arising from worldwide improvements in standards of living. Radiation therapy or radiotherapy is therapy using ionizing radiation, generally as part of cancer treatment to control or kill malignant cells and normally delivered by a linear accelerator. Radiation therapy may be curative in a number of types of cancer if they are localized to one area of the body. It may also be used as part of adjuvant therapy, to prevent tumor recurrence after surgery to remove a primary malignant tumor (for example, early stages of breast cancer). Radiation therapy is synergistic with chemotherapy and has been used before, during, and after chemotherapy in susceptible cancers. The subspecialty of oncology concerned with radiotherapy is called radiation oncology. According to the research estimates of the International Agency for Research on Cancer (IARC) and the World Health Organization (WHO), approximately ten million new cases of cancer are being detected per year worldwide
Attributes | Details |
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Study Period | 2019-2029 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Varian Medical Systems, Inc. (United States), Elekta (Sweden), Accuray Incorporated (United States), Ion Beam Applications SA (Belgium), ViewRay, Inc. (United States), IsoRay Medical, Inc. (United States), Hitachi Ltd. (Japan) and Panacea Medical Technologies Pvt. Ltd. (India) |
This growth is primarily driven by Growing global cancer burden and Surging healthcare expenditure are some of the chief growth-inducing factors in the radiotherapy market.
Globally, a noticeable market trend is evident The growing Adoption of Pencil-Beam Scanning Major Players, such as Varian Medical Systems, Inc. (United States), Elekta (Sweden), Accuray Incorporated (United States), Ion Beam Applications SA (Belgium), ViewRay, Inc. (United States), IsoRay Medical, Inc. (United States), Hitachi Ltd. (Japan) and Panacea Medical Technologies Pvt. Ltd. (India), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations.
Key Developments in the Market:
In May 2019 Varian Medical Systems United States-based company acquired Cancer Treatment Services International for USD 283. This transaction will accelerate the identification of unmet clinical and operational needs to facilitate advances in technology and services. As a result, the combined companies will be positioned to create new multidisciplinary solutions based on robust clinical information benefiting oncologists, and ultimately resulting in better care for patients.
In September 2020 Elekta Sweden Based company introduced its new radiotherapy solution to help address the worldwide cancer burden named Elekta Harmony linear accelerator (linac) intended to treat or meet the need of the health care centers and for a productive, precise, and versatile radiotherapy treatment system.
Regulatory Insights:
“To establish a Radiotherapy facility, the user institute must go through the Regulatory requirements as mentioned in the Atomic Energy (Radiation Protection) Rules, 2004 and AERB Safety Codes [AERB/RF-SC/MED-1(Rev. 1)] and shall obtain requisite regulatory consent from AERB as per AERB Safety Guide for Consenting process for Radiation Facilities (AERB/RF/SG/G-3). No regulatory clearance is issued for establishing the radiotherapy facility by AERB unless the user complies with the regulatory requirements”
Influencing Trend:
The growing Adoption of Pencil-Beam Scanning
Market Growth Drivers:
Growing global cancer burden and Surging healthcare expenditure are some of the chief growth-inducing factors in the radiotherapy market
Challenges:
Risk of Radiation Exposure
Restraints:
Affordability and Accessibility of Treatment
Opportunities:
Increasing cancer occurring in developing countries and Increasing healthcare expenditure are some of the chief growth-inducing factors in the radiotherapy market
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Radiotherapy Market
- Analysis about New Entrants in Radiotherapy Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Radiotherapy Study Sheds Light on
The Radiotherapy Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Radiotherapy industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Radiotherapy industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.