Radiotherapy Market is also called as Radiation Therapy and Irradiation which is used in a cancer treatment that uses high doses of radiation to kill cancer cells and shrink tumors. It plays vital role in killing of cancerous cell as well as it shrink tumor by the use of high-energy radiation from x-rays, gamma rays, neutrons, protons, and other sources. Radiotherapy uses radioactive substances that has ability to travels in the blood to tissues throughout the body. Radiotherapy can be referred as local treatment. The radiation therapy works by damaging the DNA of cancerous cells.
Market Dynamic - Radiotherapy Market
The radiotherapy market has been seeing tremendous growth from the past few decades. The primary growth factors behind the market growth are technological advancements and expansion of the target patient population. Likewise, rising number of conferences and symposia focusing on spreading awareness about the benefits of radiotherapy globally will drive the market growth in upcoming years. Nevertheless, lack of adequate healthcare infrastructure and shortage of skilled oncologists or radiologists are the major restraining factor that could hamper the growth of the market.
COVID-19 Impact on Radiotherapy Market Report
The COVID 19 outbreak had significant impact on the healthcare market. As the rise in COVID 19 cases, for prevention purpose government has announced lockdown in many countries which lead to postponing of radiotherapy procedures which will affect radiotherapy market. Due to closed manufacturing facilities it will disrupted the supply and production chains. The number of emerging patients towards radiotherapy emergency services which is available in almost all centers are reduced. Due to this scenario, COVID 19 negatively impacted the growth of the overall radiotherapy devices market in 2020.
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Radiotherapy Market Segmental Overview
The study analyses radiotherapy market based on product, application, procedure, end users and geography.
Radiotherapy Market by Product
Based on the product the radiotherapy market is segmented into external beam radiotherapy, internal beam radiotherapy/brachytherapy and systemic radiotherapy. The external beam radiotherapy is sub-segmented into conventional linear accelerators (LINAC), conventional cobalt-60 teletherapy units, and stereotactic advanced electron and particle therapy systems. The internal beam radiography is sub-segmented into seeds, afterloaders, applicators and IORT Systems. The conventional linear accelerators (LINAC) segment accounted for the largest share of the external beam radiotherapy market in 2020.
Radiotherapy Market by Application
The radiotherapy market finds its application in the external and internal beam radiotherapy. The external beam radiotherapy is sub-segmented into Prostate Cancer, Breast Cancer, Lung Cancer, Head and Neck Cancer and Colorectal Cancer. The internal beam radiotherapy/brachytherapy applications market is segmented into prostate cancer, gynecological cancer, breast cancer, cervical cancer, penile cancer, and other cancers. The breast cancer segment dominated the internal beam radiotherapy applications market in 2020 owing to, it delivers a precise, highly concentrated radiation dose to the target tumor within less treatment time.
Radiotherapy Market by Procedure
The various procedures used in the radiotherapy market are classified into external and internal beam radiotherapy. The external beam radiotherapy is sub-segmented into Image-guided Radiotherapy, Intensity-modulated Radiotherapy, Stereotactic Therapy, Particle Therapy and 3D Conformal Radiotherapy. The image guided radiotherapy (IGRT) segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period 2021-2027. The IGRT helps the radiation oncologists to adjust the position of the patient to precisely target the tumor and less exposure to normal tissues. Due to such advantages market growth has increased.
Radiotherapy Market by End Users
Depending on the various end users the radiotherapy market is categorized into Hospitals and independent radiotherapy centers. The hospitals segment leads the market in 2020 and is witnessing fastest growth in upcoming years owing to, rise in prevalence of cancer globally will causes establishment of new private hospitals for diagnosis and treatment purpose. Besides this, improving healthcare infrastructure will fuel the market growth.
Radiotherapy Market by Geography
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific, Latin America, Middle East & Africa and Rest of the World. Asia Pacific held the largest market share of global radiotherapy market owing to, growing R&D and increasing population suffering from chronic diseases. Likewise, improvement in healthcare sector will fuel the market growth.
Radiotherapy Market Key Players
The major key players of market includes Varian Medical Systems, Inc. (US), Elekta (Sweden), Accuray Incorporated (US), Ion Beam Applications SA (Belgium), BD (US), Eckert & Ziegler (Germany), Hitachi Ltd. (Japan), ICAD, Inc. (US), IntraOp Medical, Inc. (US), IsoRay Medical, Inc. (US), Mevion Medical Systems, Inc. (US), Panacea Medical Technologies Pvt. Ltd. (India), P-cure Ltd. (Israel),ViewRay, Inc. (US) and ZEISS Group (Germany)
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