Intensity Modulated Radiotherapy Market: Growth, Size, Share, and Trends

Market Growth Outlook SummaryUpdated on : Aug 22, 2024

The global intensity modulated radiotherapy market growth in terms of revenue was estimated to be worth $2.2 billion in 2023 and is poised to reach $2.8 billion by 2028, growing at a CAGR of 5.2% from 2023 to 2028. The research study consists of an industry trend analysis, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market.

Rising demand for intensity-modulated interventions and growth in non-invasive treatments of cancer management are a few drivers that collectively contribute to the growth of intensity-modulated radiotherapy, and as healthcare technologies continue to evolve, the demand for intensity-modulated radiotherapy is expected to rise further in the upcoming years. However, higher high cost and availability limits the market growth.

Attractive Opportunities in the Intensity Modulated Radiotherapy Market

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Intensity Modulated Radiotherapy Market Dynamics

Driver: Increase in non-invasive cancer treatments through radiation therapy

Advances in radiation therapy technology have led to more precise and targeted treatments. Techniques such as intensity-modulated radiation therapy (IMRT), stereotactic body radiation therapy (SBRT), and proton therapy allow for highly focused radiation delivery, sparing healthy tissues and minimizing side effects. Unlike surgery, non-invasive radiation therapy does not involve surgical incisions or the removal of tissue. This leads to minimal scarring and shorter recovery times, allowing patients to resume their normal activities more quickly.

Increasing government initiatives for cancer management:

The augmentation of government initiatives for cancer management is driven by a confluence of factors, encompassing imperatives in public health, deliberations of economic significance, advocacy on behalf of patients, commitments on the global stage, and a unified endeavor to bolster healthcare systems and foster health equity. This amalgamation distinctly contributes to the advancement and market elevation of the intensity-modulated radiotherapy market, solidifying its position as a pivotal solution within the broader spectrum of cancer treatment modalities.

In the US, The Centers for Disease Control and Prevention (CDC) administers the NCCCP, which helps states and territories develop and implement cancer control plans. These plans address cancer prevention, early detection, treatment, and survivorship. European countries allocate significant funding for cancer research through national research agencies, such as Cancer Research UK in the United Kingdom and the German Cancer Aid (Deutsche Krebshilfe) in Germany.

Rising cancer patient population:

The upward trajectory of the cancer patient population stems from a multifaceted interplay of interconnected elements that collectively influence individual susceptibility and contribute to the overarching burden of cancer across societies. This intricate amalgamation distinctly contributes to the advancement and market elevation of Intensity-modulated radiotherapy, positioning it as an instrumental solution within the expansive domain of cancer care and treatment.

Restraint: The dearth of skilled radiologist/oncologist:

The scarcity of proficient radiologists and oncologists constitutes a multifaceted challenge underscored by factors including escalating demand, shifting demographics, hurdles in training, work environment considerations, and the imperative for continuous professional advancement. This intricate interplay distinctly contributes to the advancement and market elevation of Intensity-modulated radiotherapy (IMRT), positioning it as an indispensable solution within the realm of oncological care and management.

Affordability and accessibility of treatment:

The accessibility and affordability of cancer treatment are intricately shaped by a multifaceted interplay of variables, including treatment expenditure, insurance provisions, regional discrepancies, supportive service availability, and the financial ramifications of treatment. Collectively, these elements contribute to the delineation of the cancer care landscape, ultimately impacting patients' capacity to obtain and finance essential treatments. This intricate amalgamation distinctly contributes to the advancement and market elevation of Intensity-modulated radiotherapy (IMRT), positioning it as an instrumental solution in addressing the affordability and accessibility aspects within the domain of cancer care.

Complexity of imaging technology for treatments:

The intricacy of imaging technology in the context of cancer treatments is a result of the dynamic interplay between advancing technologies, the imperative for specialized expertise, complexities in data analysis, challenges in seamless treatment integration, and the essentiality of cross-disciplinary collaboration. This synergy of factors collectively molds the framework of imaging-guided cancer treatments, underscoring the heightened capabilities and intricacies within this domain. This distinct interrelation significantly contributes to the advancement and market augmentation of Intensity-modulated radiotherapy (IMRT), positioning it as a pivotal solution that aligns with the complex demands of contemporary cancer care, thus fostering its prominence and adoption.

Opportunity: Rising healthcare expenditure across developing countries:

The rise in healthcare spending in developing countries is driven by a complex interplay of factors like changing demographics, disease trends, improved infrastructure, technological advancements, and healthcare workforce growth. This dynamic interaction shapes the healthcare landscape and guides financial resource allocation for services and treatments. Amid this context, Intensity-modulated radiotherapy (IMRT) emerges as a strategic solution, equipped with advanced capabilities that align with evolving healthcare needs.

Expansion of key players in emerging countries:

Prominent industry leaders are expanding in emerging countries due to untapped markets, strategic collaborations, and adapting expertise to evolving healthcare needs. In this context, Intensity-modulated radiotherapy (IMRT) plays a pivotal role in meeting the healthcare demands of these growing markets.

Challenge: Availability of alternative technology:

Navigating the landscape of alternative technologies poses a challenge for the IGRT market, driven by ongoing technological advancements, the pursuit of superior treatment outcomes, and the competitive dynamics inherent within cancer treatment modalities. Amidst this complexity, the strategic rise and market expansion of Intensity-modulated radiotherapy (IMRT) becomes imperative, as it must effectively align its unique attributes to meet evolving cancer care needs while contending with alternative technological options.

Intensity-Modulated Radiotherapy Market Ecosystem

Major companies in this market include well-established and financially stable suppliers of Intensity-modulated radiotherapy, radiotherapy and imaging technology. Prominent companies in this market include Varian Medical Systems,Inc.(US) Elekta (Sweden), Accuray Incorporated (US), Hitachi (Japan), among several others.

The Brain cancer application segment accounted for the highest CAGR of the intensity modulated radiotherapy industry in 2022-2028

Based on the application, the intensity modulated radiotherapy market is segmented into prostate cancer, breast cancer, lung cancer, brain cancer, gastrointestinal cancer, and other applications. IMRT enable radiologists to perform complex procedures using non-invasive techniques. The integration of Intensity-modulated radiotherapy (IMRT) within brain cancer treatment is substantiated by its adeptness in navigating the intricacies of brain anatomy, mitigating treatment-associated uncertainties, tailoring treatment regimens, and synergizing with evolving therapeutic frameworks. This amalgamation of attributes significantly amplifies the advancement and prominence of IMRT within the context of the brain cancer application segment, thereby augmenting its strategic position in the broader market of radiation therapy.

Hospitals to register for the highest growth rate of the intensity modulated radiotherapy industry in 2022-2028

The end users in the intensity modulated radiotherapy market are hospitals and independent radiotherapy centers. Hospitals are expected to dominate the market during the forecast period. Hospitals mainly have larger budgets, more advanced technology, and a broader range of medical specialties, which can facilitate the adoption and utilization of IMRT. Hospitals often have established referral networks with primary care physicians, specialists, and other healthcare providers. These networks can lead to more patients being referred to hospital-based radiation oncology departments, increasing the use of IMRT

North America is expected to be the largest market for the intensity modulated radiotherapy industry during the forecast period.

North America, comprising the US and Canada, held the largest share of the intensity modulated radiotherapy market in 2022. With its resilient healthcare infrastructure and access to cut-throat medical technologies, North America provides an ideal setting for the adoption of sophisticated treatment methodologies like Intensity-modulated radiotherapy (IMRT).

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As of 2022, prominent players in the market are Elekta (Sweden), Accuray Incorporated (US), Varian Medical Systems (US), and Hitachi (Japan), among others.

Scope of the Intensity Modulated Radiotherapy Industry:

This report has segmented the global intensity modulated radiotherapy market to forecast revenue and analyze trends in each of the following submarkets:

By Radiation Type

• Proton radiation
• Electron radiation
• Photon radiation
• Carbon-Ion radiation

By Application

• Prostate cancer
• Lung cancer
• Breast cancer
• Brain cancer
• Gynecological cancers
• Gastrointestinal cancers
• Other cancers

By End User

• Hospitals
• Independent Radiotherapy Centers

By region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
• MEA

Frequently Asked Questions (FAQ):

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