Global Radiotherapy Equipment Market
Global radiotherapy equipment market report provide a comprehensive outlook on radiotherapy equipments worldwide with specific focus on key region such as North America, Europe, Asia Pacific, South America and MEA. The report on global radiotherapy equipment market gives historical, current and future market size (US$ Mn) on the basis of type, application, and geography. This study analyses the global radiotherapy equipment market dynamics in a detailed manner to identify current trends and drivers, growth opportunities and potential challenges to the key stakeholders in the operating market. In addition, PBI has analyzed the global market to better equip customers with possible investment opportunities across region and consumer unmet needs.
Global Radiotherapy Equipment Market:
In the midst of the covid-19 crisis, the global radiotherapy equipment market, estimated at US$ 5.72 billion in 2020, is expected to reach a revised size of US$ 7.59 billion by 2026, rising at a CAGR of 4.2% over the 2020-2026 forecast periods. Owing to numerous conferences and symposia aimed at spreading information about the benefits associated with radiotherapy, the key factors driving market growth are technological advances, increased cancer incidence, increased product launches and increased public awareness. The emergence of alternatives such as surgery, chemotherapy, immunotherapy, targeted therapy, hormone therapy, stem cell transplantation, and precision medicine in cancer care and the high cost of such equipment would inhibit market development. These methods do have many benefits over radiation therapy.
Increase in technologically advanced products boosts the market growth:
Growth in technologically advanced products plays an important role in advancing the market for radiation therapy equipment. Technologically upgraded medical devices are more accurate and offer a higher success rate and increase the devices’ usability. For example, earlier X-ray therapy used cobalt radiation and used low-energy X-rays, today oncologists use high-energy, mega-voltage X-rays that can penetrate deeper and eliminate skin irradiation.
North America has dominant market share in global radiotherapy equipment market:
It is likely that North American market will have the largest size followed by Europe. Canada and the US are major contributors to the North American market, and over the projected period, the US is expected to sustain a growth rate of about 5%. Asia-Pacific is expected to be the fastest-growing segment due to factors such as increased disposable income, enhanced healthcare facilities and government support activities. China is a major contributor to this segment and during the forecast period is projected to expand at a growth rate of 9%.
Key player’s profiles in the global radiotherapy equipment market include-
- Vаrіаn Меdісаl Ѕуѕtеmѕ
- Еlеktа АВ
- Ассurау Іnсоrроrаtеd
- ІВА (Іоn Веаm Аррlісаtіоnѕ ЅA)
- С. R. Ваrd
- Іѕоrау Меdісаl
- Rауѕеаrсh Lаbоrаtоrіеѕ АВ
- Меvіоn Меdісаl Ѕуѕtеmѕ
- Міtѕubіѕhі Еlесtrіc
- In April 2019, Brainlab unveiled ExacTrac Dynamic® at ESTRO 38, the annual congress of the European Society for Radiation Oncology (ESTRO) in Milan, Italy. It is a universal concept for radiotherapy patient positioning and monitoring offers value on multiple fronts, including expanded clinical workflows, broad technological advancements, enhanced user and patient experience, and technology consolidation.
- In February 2019, Accuray Incorporated announced that data from an international, randomized, 38-center trial (PACE – Prostate Advances in Comparative Evidence) showed that treatment with stereotactic body radiation therapy (SBRT) results in a similar safety profile to conventional radiation in men with low- or intermediate-risk prostate cancer.
- In January 2019, Philips announced collaboration with imaging solutions provider MIM Software Inc. to improve radiation therapy treatment planning.
Key findings of report:
- Global radiotherapy equipment market expanding at significant CAGR over 2020 to 2027 owing to rapid increased cancer incidence, increased product launches and increased public awareness
- North America accounted for larger share of market revenue in 2020 based on the region and projected a gain in market revenue over a forecast period.
- Players focusing on innovation of technologies and collaboration strategies to retain market position in global market.
Key features of the report:
- The report provides granular level information about market size, regional market share, historic market (2015-2019) and forecast (2020-2026).
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market.
- The report provides plethora of information about market entry strategies.
- Ехtеrnаl Веаm Rаdіоthеrару Еquірmеntѕ
- Іntеrnаl Веаm Rаdіоthеrару Еquірmеntѕ
- Ѕуѕtеmіс Rаdіоthеrару Еquірmеntѕ
- Аmbulаtоrу Rаdіоthеrару Сеntеrѕ
- Саnсеr Rеѕеаrсh Іnѕtіtutеѕ
- Rest of Europe
- Southeast Asia
- Rest of APAC
- Rest of South America
- Saudi Arabia
- South Africa
- Rest of MEA