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Radiotherapy Market Size By Type (External Beam Radiation Therapy {Intensity-Modulated Radiation Therapy [IMRT], Image-Guided Radiation Therapy [IGRT], Proton Therapy}, Internal Radiation Therapy, Systemic Radiation Therapy), By Application (Lung Cancer, Prostate Cancer, Breast Cancer, Cervical Cancer, Head & Neck Cancer), By End-use (Hospitals, Radiotherapy Centers & Ambulatory Surgery Centers, Cancer Research Institutes), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI3539
  • Base Year: 2021
  • Report Format: PDF

Industry Overview

Radiotherapy Market size surpassed USD 9.7 billion in 2021 and is expected to witness 6% CAGR from 2022 to 2028. Radiotherapy is the medical use of ionizing radiation in the treatment of cancer but also non-malignant disease. Modern radiotherapy makes use of highly precise collimating devices that positively impacts the market expansion.
 

Radiotherapy Market

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Various trends in the radiotherapy market includes image-guided radiotherapy systems, proton therapy has now become a mainstay treatment option, artificial intelligence in radiotherapy and others influence the market growth. Moreover, the COVID-19 pandemic had a significant impact on the radiotherapy market. Due to surging number of COVID-19 cases along with travel restrictions and limited access to hospitals and other facilities further led to delayed installations.
 

Radiotherapy or radiation therapy is a type of cancer treatment that uses high dose radiation to destroy cancer cell and diminish tumor. Radiotherapy slows the growth of cancer cells by damaging the DNA.
 

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. 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.
 

Rising use of external beam radiation therapy will augment the market statistics

Global Radiotherapy Market, By Type

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 Based on type, the radiotherapy market is classified into external beam radiation therapy, internal radiation therapy and systemic radiation therapy. The external beam radiation therapy is sub-segmented in intensity-modulated radiation therapy (IMRT), image-guided radiation therapy (IGRT), proton therapy and others. The external beam radiation therapy segment accounted for around 64.5% market share in 2021 and the trend will continue to rise in the near future.
 

External beam radiation therapy is the most common type of therapy and is a local treatment that helps to treat a specific part of the body. A machine linac or linear accelerator creates a radiation beam for photon or X-ray radiation therapy. This further helps target the tumor while avoiding healthy tissue near the cancer cells. In addition, most of the external beam radiation therapies are given every week for several weeks to cure the tumor or cancer cells. Therefore, numerous benefits of this therapy over others secure the segmental as well as market growth.
 

Rising number of breast cancer cases will drive the market expansion

Global Radiotherapy Market, By Application

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On the basis of application, the radiotherapy market is segmented into head & neck cancer, breast cancer, lung cancer, prostate cancer and cervical cancer among others. Among them, the breast cancer segment accounted for around USD 1.8 billion revenue size in 2021. Radiation therapy is used at every stage to treat breast cancer and uses protons, X-rays or other particles to kill cancer cells. Radiotherapy for breast cancer can be effectively delivered through external radiation and internal radiation or brachytherapy that secures the market progress.
 

Further, this therapy is one of the effective ways to reduce the risk of breast cancer post-surgery and also ease the symptoms caused by cancer. As per the World Health Organization (WHO) data, in 2020, 2.3 million women were diagnosed with breast cancer and as the end of 2020, nearly 7.8 million women were diagnosed and recorded with breast cancer in the past 5 years. Thus, rising demand for advanced and innovative treatments for breast cancer will enhance the overall market demand.
 

Growing adoption of radiotherapy treatments in hospitals will accelerate the overall market forecasts

Based on end-use, the industry is categorized into hospitals, radiotherapy centers & ambulatory surgery centers as well as cancer research institutes. The hospitals segment accounted for over 41% market share in 2021. Hospitals act as one of the first point of contact for the treatment of cancer. Rising number of cancer cases for better treatment options under skillful healthcare professionals will foster the industry progression. Furthermore, hospitals are equipped with advanced healthcare facilities and devices for effective patient management and care that further enhances the overall market trends.
 

Rising research and development investments in North America will accelerate the regional industry landscape

North America Radiotherapy Market, By Country

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North America radiotherapy industry captured around 36% market share in 2021 and is poised to grow substantially during the forthcoming years. High regional growth is attributed to increasing healthcare infrastructure and R&D investments across the region. The regional market is inclined towards funding and early diagnosis & treatment of cancer with its significant measures, instruments, and infrastructure of hospitals or other centers. Presence of several market participants focusing on developing innovative products for better patient management will prove advantageous for the market expansion. Similarly, increasing geriatric population requiring better treatment and favorable government initiatives will accelerate the regional industry statistics.
 

Innovative approach by key market players will surge the market growth

Some of the key industry players operating in the radiotherapy market include Elekta, Seimens Healthineers, Accuracy incorporated, ViewRay, IBA, RefleXion, Mevion Medical Systems, Inc., and Hitachi among others. These industry participants are formulating various growth strategies with continued innovations and technology improvements to sustain market competition in the radiotherapy industry.
 

Some of the recent industry developments:

  • In November 2020, Elekta’s novel radiotherapy system called Harmony received CE market. This novel strategy has helped the firm to improve its overall product portfolio.
     
  • In 2019, Siemens Healthineers received Food and Drug Administration clearance for two CT Systems, SOMATOM go.Sim and SOMATOMgo.Open Pro, used for radiation therapy. This novel strategy enhanced the overall revenue generation of the company.
     

The radiotherapy report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2028, for the following segments:

By Type

  • External Beam Radiation Therapy
    • Intensity-Modulated Radiation Therapy (IMRT)
    • Image-Guided Radiation Therapy (IGRT)
    • Proton Therapy
    • Others
  • Internal Radiation Therapy
  • Systemic Radiation Therapy

By Application

  • Lung Cancer
  • Prostate Cancer
  • Breast Cancer
  • Cervical Cancer
  • Head & Neck Cancer
  • Others

By End-use

  • Hospitals
  • Radiotherapy Centers & Ambulatory Surgery Centers
  • Cancer Research Institutes

The above information is provided for the following regions and countries:

  • North America 
    • U.S.
    • Canada
  • Europe 
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific 
    • Japan
    • China
    • India
    • Australia
  • Latin America 
    • Brazil
    • Mexico 
  • Middle East & Africa
    • South Africa
    • Saudi Arabia

 

Authors: Sumant Ugalmugale, Rupali Swain

Frequently Asked Questions (FAQ) :

Global market for radiotherapy exceeded USD 9.7 billion in 2021 and is anticipated to record 6% CAGR between 2022 and 2028.

The external beam radiation therapy segment captured nearly 64.5% of global radiotherapy industry share in 2021 as this procedure can effectively treat a specific part of the body by targeting the tumor without causing harm to the surrounding healthy tissues.

The breast cancer segment generated around USD 1.8 billion revenue for radiotherapy market in 2021 as the procedure can eliminate the breast cancer cells through internal and external radiation or brachytherapy.

North America held 36% of radiotherapy market share in 2021 as a robust healthcare infrastructure is being developed and research & development activities are rising to improve the effectiveness of radiation therapy.

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Premium Report Details

  • Published Date: Apr 2022
  • Companies covered: 10
  • Tables & Figures: 229
  • Countries covered: 15
  • Pages: 190

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