The global radiotherapy market is expected to reach USD 9.47 Billion by 2022 from USD 6.81 Billion in 2017, at a CAGR of 6.8%. The growth of this market is majorly driven by rapidly increasing geriatric population, growing incidence of cancer cases across the globe, increasing symposiums driving investments in radiotherapy, and rising demand for radiotherapy devices.
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The report "Radiotherapy Market by Type (External (IGRT, IMRT, 3D-CRT), Internal (LDR, HDR) & Systemic), Product (Proton Beam, Cyberknife, LINAC, Seed, Samarium), Application (Prostate, Breast, Cervical), End User, and Region - Global Forecasts to 2022", The global radiotherapy market is projected to reach USD 9.47 Billion by 2022 from USD 6.81 Billion in 2017, at a CAGR of 6.8%. Technological advancements in radiotherapy systems, increasing incidence and prevalence of cancer, rising geriatric population, and growing adoption of radiotherapy devices and procedures are the major factors driving market growth.
Browse 116 market data tables and 36 figures spread through 222 pages and in-depth TOC on "Radiotherapy Market by Type (External (IGRT, IMRT, 3D-CRT), Internal (LDR, HDR) & Systemic), Product (Proton Beam, Cyberknife, LINAC, Seed, Samarium), Application (Prostate, Breast, Cervical), End User, and Region - Global Forecasts to 2022"
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By type, the external beam radiotherapy segment is held the largest market share in 2016
Based on type, the external beam radiotherapy segment accounted for the largest share of the market. Rising adoption of linear accelerators for the treatment of cancer and development of advanced radiotherapy technologies are the key factors driving the growth of the external beam radiotherapy market segment.
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By product type, the external beam radiotherapy segment is expected to grow at the highest CAGR
On the basis of product type, the radiotherapy market is segmented into external beam radiotherapy, internal beam radiotherapy/brachytherapy, and systemic radiotherapy. In 2016, the external beam radiotherapy segment accounted for the largest market share and is expected to grow at the highest CAGR.
The large share of this segment can primarily be attributed to factors such as growing prevalence of cancer, product enhancements, and increasing adoption of external beam radiotherapy devices in emerging countries.
North America dominated the market in 2016
Geographically, the radiotherapy market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest share of the market in 2016, followed by Europe.
A number of factors such as technological advancements in radiotherapy equipment, growing number of cancer cases, and rising focus of key players on expanding their presence in North America are driving the growth of the radiotherapy market in this region.
In 2016, Varian Medical Systems, Inc. (U.S.) and Elekta AB (Sweden) dominated the global radiotherapy market.
Other prominent players include Accuray Incorporated (U.S.), Ion Beam Applications (IBA) (Belgium), Nordion, Inc. (Canada), C. R. Bard, Inc. (U.S.), Isoray Medical, Inc.
(U.S.), RaySearch Laboratories (Sweden), Mevion Medical Systems, Inc. (U.S.), and Mitsubishi Electric Corporation (Japan).
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