Radiotherapy Market worth $9.62 billion by 2030
The report "Radiotherapy Market by Technology (EBRT:MR LINAC, Stereotactic, Particle; IBRT/Brachytherapy, Cobalt-60 Teletherapy), Procedure (IGRT, IMRT, 3D-CRT, HDR, LDR, PDR), Cancer (Prostate, Breast, Lung, CRC), End User (Hospital, IRC) - Global Forecasts to 2030", size 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.
Browse 310 market data Tables and 56 Figures spread through 312 Pages and in-depth TOC on "Radiotherapy Market by Technology (EBRT:MR LINAC, Stereotactic, Particle; IBRT/Brachytherapy, Cobalt-60 Teletherapy), Procedure (IGRT, IMRT, 3D-CRT, HDR, LDR, PDR), Cancer (Prostate, Breast, Lung, CRC), End User (Hospital, IRC) - Global Forecasts to 2030"
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The major factors driving the market growth of the radiotherapy market include technological advancements in radiotherapy technologies, the rising R&D investment for cancer research and more focus on invasive methods for cancer care. The Increasing initiatives to promote radiotherapy awareness are further high growth prospects for the radiotherapy market during the forecast period. Moreover, the intense competition among players can support brand protection efforts. The growing demand for particle therapy for cancer treatment in hospitals, growth potential of emerging markets and increasing demand for EBRT provide opportunities for market growth
The system segment is to register a significant growth rate over the forecast period of 2024-2030.
Based on the system, software & services, over the forecast period of 2024-2030, the system segment is to register a significant growth rate. The Radiotherapy product market is segmented into system and the software & services. The radiotherapy ‘system’ market includes system, consumables, probes, and applicators used to deliver radiotherapy through external beam radiation therapy and brachytherapy. The key factors encouraging the growth of system segment during the forecast period are the increased adoption of radiotherapy in emerging economies and the rising number of manufacturers offering advanced systems.
The industrial manufacturing segment accounted for the largest share of radiotherapy in 2024-2030.
Based on application, during the forecast period, the external beam radiotherapy (EBRT) segment is anticipated to dominate the radiotherapy market, holding the largest market share. The external beam radiotherapy segment commands a significant share due to the increasing research activities to study the application and rising demand for radiotherapy products across key markets (such as the US, Europe, China, India, and the Middle East).
Asia Pacific registered the highest CAGR in the market during the forecast period.
In 2024, Asia Pacific is expected to register the highest CAGR in the market for radiotherapy during the forecast period. Asia Pacific comprises China, India, South Korea, Taiwan, and Singapore, and the rest of Asia Pacific. Factors such as growing number of cancer cases specially head and neck cancers and breast cancer and academic & research activities are driving the growth of the APAC Radiotherapy market during the forecast period.
As of 2023, prominent players in radiotherapy 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) and Koninklijke Philips N.V. (Netherlands), among others.
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