Radiotherapy Market Analysis

Radiotherapy Market Analysis

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.
 

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.
 

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.
 

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.