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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– 2030

  • Report ID: GMI3539
  • Published Date: Nov 2022
  • Report Format: PDF

Industry Overview

Radiotherapy Market size was worth more than USD 6.5 billion in 2021 and is projected to exhibit over 6% CAGR from 2022-2030.
 

Radiation therapy is an integral part of modern-day cancer diagnosis and treatment. Over the last decade, it has undergone major technological breakthroughs with improved precision and reduced collateral damage. For example, next-generation technologies such as artificial intelligence (AI) are now integrated into advanced image-guided radiation therapy (IGRT) for accurately determining target treatment.
 

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Rising incidences of cancer across the globe will positively affect the industry scenario. The global cancer burden is estimated to escalate by 60% by 2040. In recent years, cancer has emerged as a leading cause of death with increasing cases of breast cancer, prostate cancer, melanoma, and lung cancer. Driven by the growing need for cost-effective interventions, radiotherapy will continue to remain an important procedure for treating cancer patients.
 

Lack of skilled professionals with technical expertise could restrain business prospects. Healthcare facilities worldwide have been struggling with a shortage of healthcare professionals that can operate radiotherapy equipment for treating different chronic conditions. Despite the introduction of semi-automated and fully automated medical devices, intervention by medical professionals is vital for accurate treatment. Significant efforts to provide training programs and scholarships could help the industry to overcome the aforementioned challenges.
 

Growing demand for outpatient care to boost cancer treatment using external beam radiation therapy

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Radiotherapy market from the external beam radiation therapy (EBRT) segment exceeded USD 4.2 billion in 2021. EBRT helps medical experts to treat a specific part of the body. It focuses on tumors and tissues without causing any harm to other parts of a patient’s body. Owing to the growing preference for outpatient care, EBRT has become one of the common radiation therapies used across healthcare settings. Stereotactic radiosurgery, 3D conformal radiation therapy (3D-CRT), Helical tomotherapy, IGRT, and intensity-modulated radiation therapy (IMRT) are some of the types of EBRT.
 

Fewer side effects than surgery to drive radiotherapy demand for treating prostate cancer cells

Radiotherapy market from the prostate cancer application segment is expected to reach USD 2.4 billion by 2030. Radiotherapy has gained significance due to a large number of patients suffering from prostate tumors across the globe. According to the American Cancer Society, prostate cancer was the second leading cause of death among the male population in the U.S. in the year 2022.
 

Studies have found that radiation therapy, which is used to kill cancerous cells in the prostate gland, is just as effective as surgery. It also eliminates the side effects associated with surgical procedures. Increasing patient preference for radiotherapy over conventional procedures will favor industry growth.
 

Strong investments in cancer research to boost the installation of radiotherapy equipment

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Radiotherapy market from the cancer research institutes segment is projected to exhibit over 4.5% CAGR between 2022-2030. Cancer research institutes are rapidly installing advanced radiotherapy equipment to provide advanced and effective patient care. Increasing investments by government and private sector organizations to accelerate R&D in the field of cancer diagnostics and therapeutics will enable research centers to develop novel technologies. Healthcare companies, pharmaceutical manufacturers, and government agencies are catalyzing cancer research to reduce the burden of the disease worldwide.
 

Healthcare infrastructure initiatives to augment APAC radiotherapy industry expansion

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Asia Pacific radiotherapy market size is anticipated to expand at 6.5% CAGR from 2022-2030. Increasing awareness regarding cancer management in countries such as China, India, Japan, and South Korea will drive advancements in radiation therapy. International investments in the healthcare sector and ambitious government efforts are improving accessibility to superior radiotherapy. For instance, in August 2022, India’s Apollo Proton Cancer Centre (APCC) inked an agreement with Ion Beam Applications (IBA), Belgium to provide proton-based radiation therapy training for clinicians.
 

New technological advancements to foster industry development

Some of the leading companies in the radiotherapy market are Accuray Inc., Canon Medical Systems Incorporate, Elekta, Eckert & Ziegler, Hitachi, IBA, Mevion Medical Systems, RefleXion, Siemens Healthineers AG, and ViewRay Inc. These companies are implementing innovative strategies to design novel therapeutics.
 

For instance, in June 2022, RefleXion Medical successfully demonstrated the use of biology-guided radiation (BgRT) for all stages of cancer. The company held its first symposium to emphasize the potential of cancer biology in streamlining treatment planning and delivering personalized radiotherapy.
 

Impact of COVID-19 pandemic on radiotherapy market trends

The COVID-19 pandemic had a slightly negative impact on the industry dynamics. In the early stages of the pandemic, the demand for radiotherapy equipment dropped as a result of increasing focus on the treatment of COVID-19-affected patients. High transmission of the virus accelerated the hospitalization rates dramatically, compelling healthcare facilities to sideline non-emergency procedures. However, with many countries returning to normalcy post the COVID-19 pandemic, radiotherapy procedures are expected to regain traction.
 

The radiotherapy market report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2017 to 2030 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
    • France
    • UK
    • Italy
    • Spain
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • Saudi Arabia
    • South Africa

 

Authors: Rupali Swain, Subodh Kharad

Frequently Asked Questions (FAQ) :

The global market size for radiotherapy was worth more than USD 6.5 billion in 2021 and is projected to expand at over 6% CAGR between 2022-2030.
External beam radiation therapy (EBRT) segment reached over USD 4.2 billion in 2021 due to its ability to kill targeted cancer cells.
Asia Pacific market is anticipated to witness more than 6.5% CAGR from 2022-2030 driven by the increasing collaboration to provide advanced cancer care.
Accuray Inc., Elekta, Eckert & Ziegler, Hitachi, Iba, Mevion Medical Systems, and ViewRay Inc are some of the leading companies in the global radiotherapy market.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 10
  • Tables & Figures: 229
  • Countries covered: 15
  • Pages: 160
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