The new report "Global Radiotherapy Market" is expected to reach USD 9.3 billion by 2024 from USD 5.2 billion in 2016, at a CAGR of 7.5% in the forecast period 2017 to 2024.
The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Global Radiotherapy Market, By Type (Beam Radiotherapy (IGRT, IMRT, VMAT, Tomotherapy, 3D CRT, Proton Beam, Stereotactic), Brachytherapy (LDR, HDR), Systemic Radiotherapy), By Product Type (Cyberknife, Gammaknife, Linac, Proton Beam, Systemic Radiotherapy, Seeds, Afterloaders), By Indication (Prostate & Breast Cancer)), By Geography (North America, Europe, Asia Pacific, South America, Rest of the World) – Industry Trends and Forecast to 2024
The major factors driving the growth of this market are the rising scope of POCT devices, advancement in technology, increasing incidence of chronic diseases, rising demand for self-testing point-of-care testing devices, decentralized laboratory testing, and technological advancements like microfluidic lab on a chip technology. These factors increase the demand for devices such as blood glucose meter, CRP, HBA1C, Homocystein.
On the other hand, high costsare regulatory hurdles that may hinder the growth of the market.
Market Segmentation: Global Radiotherapy Market
The global radiotherapy market is segmented on the basis of type, product type, indication, and geography. The global radiotherapy market is segmented into three types, namely beam radiotherapy, brachytherapy and systematic radiotherapy.
In 2017, the beam radiotherapy segment is expected to dominate the market with a share around 75.0% and is expected to continue this trend till 2024.
Radiotherapy Market is segmented into beam radiotherapy, brachytherapy and systematic radiotherapy. The beam radiotherapy is segmented into IGRT, IMRT, VMAT, tomotherapy, stereotactic technology and 3D conformal technology.
The brachytherapy is segmented into LDR and HDR.
On the basis of product type, the market is segmented into external beam radiotherapy, internal radiotherapy products, radiotherapy softwares and systematic radiotherapy. External beam radiotherapy is segmented into LINAC, CyberKnife, proton therapy and Gamma Knife.
The proton beam is segmented into cyclotron and synclotron. The internal beam is segmented into seeds and afterloaders.
The radiotherapy softwares is segmented into treatment planning softwares, dosage planning softwares, patient positioning softwares and image guiding softwares.
On the basis of end users, the Europe point-of-care testing market is segmented into hospital, clinics, ambulatory care, home healthcare, and research laboratory. Hospital segment is further categorized into emergency department critical-care unit, general ward, and others (intensive care unit, neo-natal).
Based on geography, the market is segmented into11 geographical regions, such as Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland and rest of Europe.
Key Drivers: Global Radiotherapy Market
Some of the major factors driving the market for radiotherapy market are increasing patient pool for cancer,increasing ageing population, increase in out-patient cancer facilities and increasing demand for better radiotherapy equipments and replacement of out dated products. One of the major factors for growth of these devices is owing to unmet needs of radiotherapy infrastructure in emerging and developed economies.
Key Points: Global Radiotherapy Market
- Regulatory scenario and the high cost of radiotherapy are the factors which may hinder the growth of this market.
- Many companies are increasingly focusing on radiotherapy devices in order to strengthen their product portfolios in the radiotherapy market.
- Increment in patient mindfulness levels with respect to early infection diagnostics will drive the market in future.
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