SIEMENS HEALTHINEERS AG(VARIAN MEDICAL SYSTEMS, INC.)
ELEKTA
ACCURAY INCORPORATED
IBA WORLDWIDE
VIEWRAY, INC.
BRAINLAB AG
PERSPECTIVE THERAPEUTICS
HITACHI LTD.(HITACHI HIGH-TECH CORPORATION)
SUMITOMO HEAVY INDUSTRIES, LTD.
CARL ZEISS MEDITEC AG(WHOLLY OWNED SUBSIDIARY OF CARL ZEISS AG)
MIM SOFTWARE INC.
PANACEA MEDICAL TECHNOLOGIES PVT. LTD.
PROVISION HEALTHCARE
MEVION MEDICAL SYSTEMS
RAYSEARCH LABORATORIES
KONINKLIJKE PHILIPS NV
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INTRAOP MEDICAL, INC.
OPTIVUS PROTON THERAPY, INC.
BEBIG MEDICAL
P-CURE
THERAGENICS CORPORATION
PROTOM INTERNATIONAL
DOS ISOFT SA
ISOAID, LLC
MAGNETTX ONCOLOGY SOLUTIONS LTD.
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The global radiotherapy market is projected to reach USD 9.62 billion by 2030 from USD 7.21 billion in 2024, growing at a CAGR of 4.9% during the forecast period. The technological advancements of radiotherapy technologies and systems is one of the major factors anticipated to boost market growth in the forecasting years. Additionally, the high cost of radiotherapy products affects the growth of the radiotherapy market.
Scope of the Report
Years Considered for the Study
2022-2030
Base Year
2023
Forecast Period
2024-2030
Units Considered
Value (USD)
Segments
System and software & service, Technology, Application, Procedure, End user, and Region
Regions covered
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
"The external beam radiotherapy segment to hold the largest share of the market in 2024."
Based on technology, radiotherapy is segmented into external beam radiotherapy, internal beam radiotherapy/ brachytherapy. The external beam radiotherapy segment is expected to dominate the radiotherapy market during the forecast period. The external beam radiotherapy segment is further divided into LINACs, Particle therapy and Conventional cobalt-60 teletherapy. With the growing prevalence of cancer, system and software enhancements, and the increasing adoption of external beam radiotherapy devices worldwide leads to the growth of this market segment.
"The external beam radiotherapy procedures segment to hold the largest share of the market in 2024."
Based on procedure, the Radiotherapy market is segmented into external beam radiotherapy (EBRT) procedures and internal beam radiotherapy (IBRT)/brachytherapy procedures. The radiotherapy market is expected to be dominated by external beam radiotherapy procedures segment during the forecast period. The external beam radiotherapy procedures are expected to grow due to increased precision & accuracy of tumor targeting in this therapy..
"The hospitals companies segment to hold the largest share of the market in 2024."
The end user market is segmented into hospitals and independent radiotherapy centres. Hospitals accounted for the largest share of the global radiotherapy market in 2023 during the forecasted years. This can be attributed to the major applications and large demand of radiotherapy accounted by hospital sector and the growing number of hospitals in emerging countries.
"The market in the APAC region is expected to register highest growth rate for Radiotherapy in 2024."
The radiotherapy market covers five key geographies-North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2023, a significant market share for radiotherapy was held by the market in the North American region, comprising the US and Canada. On the other hand, the Asia Pacific market is estimated to register the highest growth rate during the forecast period. The increasing market penetration opportunities in emerging APAC countries led to the growth of the radiotherapy market in this region.
A breakdown of the primary participants referred to for this report is provided below:
By Company Type: Tier 1- 48%, Tier 2- 36%, and Tier 3- 16%
By Designation: Directors- 14%, C-level- 10%, and Others- 76%
By Region: North America- 40%, Europe- 32%, Asia Pacific- 20%, Latin America- 5%, MEA- 3%
The prominent players in the Radiotherapy market are Siemens Healthineers GmbH (Germany), Elekta (Sweden), Accuray Incorporated (US), IBA WORLDWIDE (Belgium), ViewRay Technologies, Inc (US), Perspective Therapeutics, Inc. (US), Hitachi High Tech Corporation (Japan), Sumitomo Heavy Industries Ltd. (Japan), Carl Zeiss Meditec AG (Germany), Koninklijke Philips N.V. (Netherlands), among others.
Research Coverage
This report studies the radiotherapy market based on system, software & service, technology, application, procedure, end user, and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their market presence.
This report provides insights on the following pointers:
Analysis of key drivers (Advancements in radiotherapy treatment technology, Growing patient population, Increasing initiatives to promote radiotherapy awareness, Growing use of particle therapy for cancer treatment), restraints (High cost of advanced lab consumables, Environmental sustainability concerns), opportunities (Lack of adequate healthcare infrastructure, High capital cost of radiotherapy, Complexity of radiotherapy), and challenges (Dearth of skilled personnel, Difficulties in visualizing tumors during radiotherapy, Risk of Radiation Exposure) influencing the growth of the radiotherapy market
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the radiotherapy market
Service Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and service developments in the radiotherapy market
Market Development: Comprehensive information on lucrative emerging regions
Market Diversification: Exhaustive information about new services, growing geographies, and recent developments in the radiotherapy market
Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and services of the leading market players.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 MARKET SCOPE
1.3.1 MARKETS COVERED AND REGIONS CONSIDERED
1.3.2 INCLUSIONS & EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.3.4 CURRENCY CONSIDERED
1.4 MARKET STAKEHOLDERS
1.5 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 List of secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.2 MARKET ESTIMATION METHODOLOGY
2.2.1 REVENUE MAPPING-BASED MARKET ESTIMATION
2.2.2 USAGE-BASED MARKET ESTIMATION
2.2.3 PRIMARY RESEARCH VALIDATION
2.3 DATA TRIANGULATION AND MARKET BREAKDOWN
2.4 RESEARCH ASSUMPTIONS
2.4.1 STUDY ASSUMPTIONS
2.5 RESEARCH LIMITATIONS
2.6 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 RADIOTHERAPY MARKET OVERVIEW
4.2 EXTERNAL BEAM RADIOTHERAPY MARKET, BY TYPE, 2024 VS. 2029 (USD MILLION)
4.3 EUROPE: EXTERNAL BEAM RADIOTHERAPY TECHNOLOGIES MARKET, BY TYPE AND REGION (2022)