Radiation Therapy Equipment Market Scope
Radiation therapy equipment is used in radiation therapy to treat cancer. Radiation therapy is used to treat at least 50% of all cancer cases. It can be either curative or palliative, depending on the stage and prognosis of the disease. Increasing cancer disease that has led to significant growth of the Radiation therapy equipment market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Elekta (Sweden), GE Healthcare (United States), Siemens AG (Germany), C.R.Bard, Inc. (United States), Hitachi America (United States), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), Nordion Inc. (Canada), Varian Medical Systems, Inc. (United States) and Accuray Incorporated ((United States) |
CAGR | % |
The Players having a strong hold in the market are Elekta, GE Healthcare, Siemens AG, and C.R.Bard, Inc.. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Radiation Therapy Equipment market throughout the predicted period.
Elekta (Sweden), GE Healthcare (United States), Siemens AG (Germany), C.R.Bard, Inc. (United States), Hitachi America (United States), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), Nordion Inc. (Canada), Varian Medical Systems, Inc. (United States) and Accuray Incorporated ((United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Ion Beam Applications SA (Belgium), ViewRay, Inc. (United States), Panacea Medical Technologies Pvt. Ltd. (India) and Sumitomo Heavy Industries, Ltd. (Japan).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Radiation Therapy Equipment market by Type , by Application (Skin and Lip Cancer, Head and Neck Cancer, Breast Cancer, Prostate Cancer, Cervical Cancer, Lung Cancer, Spine Cancer and Others) and Region with country level break-up.
On the basis of geography, the market of Radiation Therapy Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In March 2024, AstraZeneca has entered into a definitive agreement to acquire Fusion Pharmaceuticals Inc., a clinical-stage biopharmaceutical company developing next-generation radioconjugates (RCs). The acquisition marks a major step forward in AstraZeneca delivering on its ambition to transform cancer treatment and outcomes for patients by replacing traditional regimens like chemotherapy and radiotherapy with more targeted treatments.
In May 2023, GE HealthCare has introduced three new solutions for the improvement of radiation therapy efficiency and precision care
Influencing Trend:
Growing Use of Particle Therapy for Cancer Treatment and Rising Adoption of Pencil-Beam Scanning
Market Growth Drivers:
Increasing Number of Cancer Patients and Huge Government and Non-Government Investments in R&D of Cancer Treatment
Challenges:
Difficulties in Visualizing Tumors During Radiotherapy Procedures
Restraints:
Lack of Adequate Healthcare Infrastructure in Various Countries
Opportunities:
Increasing Number of Conferences and Symposia Focusing on Spreading Awareness About the Benefits of Radiotherapy
Key Target Audience
Radiation Therapy Equipment Manufacturers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors and Other