The global radiotherapy market is expected to reach USD 11.08 Billion in 2028 and register a revenue CAGR of 6.9%

NEW YORK CITY, NY, UNITED STATES, July 28, 2022 /EINPresswire.com/ -- The global radiotherapy market is expected to reach USD 11.08 Billion in 2028 and register a revenue CAGR of 6.9% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth are rising prevalence of cancer types such as breast cancer, prostate cancer, lung cancer, skin and lip cancer, and colorectal cancer across the globe, rising awareness about early detection of cancer and radiation therapy, and ongoing research on developing enhanced radiation therapy equipment.

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Radiotherapy, also called radiation therapy, is an efficient treatment approach for destroying malignant cells and reducing growth of the tumor. Radiation therapy includes use of high radiation doses to kill cancer cells by damaging DNA. Malignant cells with damaged genetic material lose the ability to multiply and die eventually. Radiation therapy does not destroy cells right away, it can take few weeks to months of treatment. Type of radiation therapy mainly depends on type of cancer, tumor size, exact location in the body, overall health, age, and medical conditions. However, healthy cells are also destroyed during the treatment leading to some short-term and long-term side effects. Factors driving global market revenue growth are increasing adoption of latest radiation therapy equipment in hospitals and ambulatory care services, growing use of particle therapy for treating cancer, improving healthcare infrastructure, and rising disposable income. Increasing awareness programs about importance of radiation therapy by various organizations to reduce fear and stigma among people and high focus on developing advanced systems are expected to fuel global market revenue growth going ahead.

Some key highlights of the report:

Based on cancer type, the lung cancer segment is expected to register fastest revenue CAGR over the forecast period, owing to increasing prevalence of lung cancer, growing risk of lung cancer due to excessive smoking and tobacco consumption, increasing awareness about ill effects of cigarette smoking, and importance of early diagnosis and radiotherapy. In addition, high usage of external beam radiation therapy and increasing investment for developing advanced devices for treating lung cancer are driving revenue growth of the segment.

Among the end use segment, the hospital segment is expected to account for significantly large revenue share during 2021-2028, owing to factors such as improving healthcare infrastructure and facilities, increasing prevalence of cancer across the globe, and growing adoption of advanced radiation therapy equipment in many hospitals.

North America is expected to account for largest revenue share in the global market over the forecast period, owing to factors such as increasing prevalence of cancer across the region, high demand for minimally invasive procedures, growing technological developments in radiation therapy, and notable presence of leading companies. In addition, factors such as presence of well-established healthcare facilities and trained radiologists to operate latest products, rising investments in research & development activities, and ongoing research on FLASH radiation therapy in cancer treatment are boosting revenue growth of the North America market.

Asia Pacific market is expected to register fastest revenue CAGR during the forecast period, due to high cancer patient pool, rising awareness about importance of early screening and treatment, increasing investments by government and private organizations, and growing focus on developing novel and enhanced products and improving existing systems. Moreover, increasing healthcare spending, improving healthcare infrastructure and facilities, and rising disposable income are other factors fueling Asia Pacific market revenue growth.

Competitive Landscape:

The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Radiotherapy market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.

Leading companies operating in the market are:

Varian Medical Systems, Inc., Elekta, Accuray Incorporated, Ion Beam Applications SA, Eckert & Ziegler, Hitachi Ltd., ICAD, Inc., IntraOp Medical, Inc., IsoRay Medical, Inc., Mevion Medical Systems, Inc., Panacea Medical Technologies Pvt. Ltd., P-cure Ltd., ViewRay, Inc., ZEISS Group, C4 Imaging LLC, Optic Proton Therapy Inc., GE Healthcare Inc., and Siemens Healthineers AG

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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

Radiotherapy Market Segmentation:

Type Outlook:

External Beam Radiotherapy

3D Conformal Radiation Therapy

Intensity-Modulated Radiation Therapy (IMRT)

Image-Guided Radiation Therapy (IGRT)

Chemotherapy

Stereotactic Radiosurgery

Others

Internal Beam Radiotherapy/Brachytherapy

High dose Rate Brachytherapy

Low doss Rate Brachytherapy

Pulse dose Rate Brachytherapy

Systematic Radiotherapy

Application Outlook:

Breast Cancer

Head and Neck Cancer

Prostate Cancer

Lung Cancer

Colorectal Cancer

Skin and Lip Cancer

Cervical Cancer

Others

Regional Outlook:

North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
A.E.
South Africa
Rest of MEA

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, TouchPoints, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provide our clients with the ability to secure an edge over their respective competitors.

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