Global Radiotherapy Market is expected to reach USD 9.3 billion by 2024 from USD 5.3 billion in 2016, at a CAGR of 7.5% in the forecast period 2017 to 2024.The new market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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There has been rapid development in the radiosurgery field in recent years, owing to increased threat of multiple cancers and mortality. This has allowed pulling in large government and healthcare manufacturers funding’s in research labs developing treatment and preventive techniques against cancer. The Elekta gamma knife has completed more than 1 million surgeries as announced by Elekta in May 2016.
This shows the demand of radiotherapy products, and the requirement of disruptive technologies to change to modern day radiotherapy. According to Hospital Cost and Utilization Project (HCUP) the number of radiotherapy procedures is increasing in U.S. by 2.0% every year.
The major players in the global radiotherapy market are :
- Elekta AB
- Accuray Inc.
- CIVCO Medical Solutions
- Brainlab AG
- R. Bard Inc.
- IsoRay Medical Inc.
- Nordion Inc.
- RaySearch Laboratories AB
- PRECISIS AG
- Mevion Medical Systems Inc.
- Technicas Radiofiscas S.L.,
- Hitachi Ltd.
- Sumitomo Heavy Industries Ltd.
- Mitsubishi Electric Corporation,
- ProNova Solutions LLC,
- ProTom International,
- Among others.
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Based on product type the global radiotherapy market is segmented into EBRT equipment’s, and IBRT equipment’s. The External Beam Radiotherapy (EBRT) products are further segmented into cyberknife, gammaknife, LINAC, Proton Beam (Cyclotron, Synclotron). The Internal Beam Radiotherapy (IBRT) is segmented into seeds, afterloaders and others.
Based on geography the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and rest of the world.
North America is expected to dominate the market with 46.2% in 2017 in terms of market value. However the APAC region is expected to grow at the highest CAGR in the forecast period 2017 to 2024.The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others.
Global Radiotherapy Market globally Varian Medical Systems, Inc. dominated the radiotherapy market accounting for a market share in 2016. The market is highly fragmented based on technologies offered by different manufacturers are different. The major players are concentrating on product development and strategic mergers with healthcare payers and providers to penetrate the market.
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