Radiotherapy Market Size

Radiotherapy Market Size

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.

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.