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Radiation Therapy Market
The Global Radiation Therapy market is expected to grow at a CAGR of around 6% from 2021-2027.
NOIDA, UTTAR PRADESH, INDIA, February 24, 2022 /EINPresswire.com / -- A comprehensive overview of the radiation therapy market is recently added by UnivDatos Market Insights to its humongous database. The radiation therapy market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the radiation therapy market. The radiation therapy market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the radiation therapy market at the global and regional levels. The Global Radiation Therapy Market is expected to grow at a CAGR of around 6% from 2021-2027.
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Market Overview
Cancer has been the leading cause of mortality across the world. For instance, worldwide, an estimated 19.3 million new cancer cases (18.1 million excluding nonmelanoma skin cancer) and almost 10 million cancer deaths (9.9 million excluding nonmelanoma skin cancer) occurred in 2020. In view of the aforementioned alarming facts, many researchers are focused on developing a treatment for cancer that can be used to cure cancer at an early stage. Furthermore, the growing adoption of radiotherapy procedures for cancer treatment and increasing usage of particle therapy for cancer treatment are some of the factors which are driving the demand for radiation therapy across the globe.
Furthermore, the radiation therapy market is anticipated to grow on account of the growing adoption of radiation therapy, technological advancements, and expedited FDA approvals for radiation therapy. For example, the Elekta Harmony radiotherapy system gained FDA clearance in the summer of 2021 and was on display for the first time at the American Society of Radiation Oncology (ASTRO) 2021 meeting.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the medical device industry in every aspect, including radiotherapy devices as the global burden of cancer is expected to grow by 20% as a result of COVID-19. This growth in cancer prevalence can be attributed to the temporary postponement of different elective surgical procedures owing to the various government guidelines.
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Global radiation therapy market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Type, the market is primarily fragmented into
•External Beam Radiotherapy
•Proton Therapy
•Internal Beam Radiotherapy
•Systemic Radiotherapy
Amongst Type, the external beam radiotherapy segment of the global radiation therapy market was valued at USD -- billion in 2020 and is likely to reach USD -- billion by 2027 growing at a CAGR of --% from 2021-2027.
By Technology, the market is primarily segmented into
•External Beam Radiation Therapy
•Brachytherapy
By Technology, the external beam radiation therapy segment dominated the global radiation therapy market and will row at --% CAGR to reach US$ -- billion by the year 2027. However, brachytherapy segment is also expected to gain a significant market share during the forecast period.
By Application, the market is primarily fragmented into
•Prostate Cancer
•Breast Cancer
•Lung Cancer
•Cervical Cancer
•Spine Cancer
•Head & Neck Cancer
•Skin & Lip Cancer
•Others
By Application, the breast cancer segment garners a significant share of the global radiation therapy market and will row at --% CAGR to reach US$ -- billion by the year 2027.
By End-User, the market is primarily segmented into
•Hospitals
•Cancer Research Institutes
•Independent Radiotherapy Centers
•Others
Amongst End-Users, the hospitals segment of the global radiation therapy market was valued at USD -- billion in 2020 and is likely to reach USD -- billion by 2027 growing at a CAGR of --% from 2021-2027.
Radiation Therapy Market Geographical Segmentation Includes:
•North America (United States, Canada, and Rest of North America)
•Europe (Germany, United Kingdom, Italy, France, Spain, and Rest of Europe)
•Asia-Pacific (China, India, Australia, Japan, and Rest of Asia-Pacific)
•Rest of the World
Geographically, the North America region dominated the radiation therapy market with almost US$ -- billion revenue in 2020 owing to the well-established healthcare infrastructure in the region.
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The major players targeting the market includes
•GE Healthcare
•Siemens Healthineers
•Varian Medical Systems, Inc.
•Ion Beam Application
•Accuray Incorporated
•Panacea Medical Technologies Pvt. Ltd.
•ZEISS Group
•IntraOp Medical, Inc.
•ViewRay, Inc.
•Eckert & Ziegler
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the radiation therapy market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the radiation therapy market?
• Which factors are influencing the radiation therapy market over the forecast period?
• What are the global challenges, threats, and risks in the radiation therapy market?
• Which factors are propelling and restraining the radiation therapy market?
• What are the demanding global regions of the radiation therapy market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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