Radiotherapy Market size to exceed $11Bn by 2030

Radiotherapy Market size is anticipated to surpass USD 11 billion by 2030, as per a new research report announced by Global Market Insights Inc.
 

Rising awareness regarding cancer treatment and management will drive industry progress. The high burden of cancer worldwide has encouraged private and public organizations to establish campaigns for raising disease literacy. These organizations are helping the public understand the different cancer therapies available along with their benefits and possible side effects.
 

Advancements in radiopharmaceuticals improve systemic radiation therapy

Radiotherapy market share from the systemic radiation therapy segment is anticipated to exhibit over 4.5% CAGR between 2022-2030. In systemic radiation therapy, the drug is circulated throughout the body instead of targeting specific tissues. Advancements in radioactive drugs including radionuclides and radiopharmaceuticals have improved survival rates in certain types of cancers such as bone, thyroid, and prostate. High efficacy of systemic radiation therapy in treating cancer will positively affect segment expansion.
 

Browse key industry insights spread across 160 pages with 213 market data tables & 16 figures & charts from the report, “Radiotherapy Market Analysis By Type (External Beam Radiation Therapy {Intensity-Modulated Radiation Therapy [IMRT], Image-Guided Radiation Therapy [IGRT], Proton Therapy}, Internal Radiation Therapy, Systemic Radiation Therapy), Application (Lung Cancer, Prostate Cancer, Breast Cancer, Cervical Cancer, Head & Neck Cancer), End-use (Hospitals, Radiotherapy Centers & Ambulatory Surgery Centers, Cancer Research Institutes), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022– 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/radiotherapy-market
 

Rise in cases of breast cancer to fuel the need for radiotherapy equipment

Radiotherapy market share from the breast cancer segment is projected to expand at over 6.5% CAGR from 2022-2030. Rising prevalence of breast cancer is expected to drive the need for radiotherapy equipment. According to the American Cancer Society, the U.S. reported 281,550 new cases of breast cancer in 2021.
 

Meanwhile, the World Health Organization (WHO) ranked breast cancer as the most common type of cancer prevalent worldwide. An increasing number of breast cancer patients has resulted in significant growth in the demand for lumpectomy surgeries. Radiation therapy is recommended for patients that have undergone lumpectomy, also known as breast-conserving surgery. This helps eliminate the risk associated with the recurrence of breast cancer cells.
 

Increasing patient footfall accelerates deployment of radiotherapy equipment across hospitals

Hospitals accounted for more than 40% share of the radiotherapy market in 2021. Fully equipped hospital set-ups are mostly preferred by cancer patients due to easy availability and accessibility to emergency facilities and advanced care. These healthcare settings support a large number of high-end surgeries on a daily basis. Growing spending on healthcare infrastructure and training to cater to the rising number of patient visits will offer lucrative scope for radiotherapy equipment manufacturers.
 

Increasing number of geriatric patients to foster the North America market trends

North America radiotherapy market was worth more than USD 2 billion in 2021. The presence of a massive geriatric population that is at a high risk of tumors due to lower immunity will fuel the expansion of the radiotherapy industry across the region. By 2040, the elderly population is estimated to account for 74% of cancer survivors in the U.S, representing a substantial patient pool in the country. As a result, the need for cancer care is expected to grow over the forthcoming period, driving the demand for radiation therapy in North America.
 

Mergers & acquisitions to strengthen radiotherapy industry outlook

Accuray Inc., Canon Medical Systems Incorporate, Elekta, Eckert & Ziegler, Hitachi, IBA, Mevion Medical Systems, RefleXion, Siemens Healthineers AG, and ViewRay Inc. are some of the key players in the global market. These companies are implementing strategic expansion plans, and mergers & acquisitions to strengthen their market presence.