Radiotherapy Market in 2030 will be worth USD 10.71 billion with a CAGR of 5.71%.

New York, United States, June 27, 2022 (GLOBE NEWSWIRE) — The key radiotherapy market growth factors are the increasing number of cancer cases, advancements in technology, and high success rates of the treatment method. 

Key Insights of the Radiotherapy Market:

• North America held the highest market share going by revenue, with 32.87% of the market share.
• The external beam type of therapy held the highest market share of 80.56%.
• Based on application, the breast cancer market held the highest share.
• The radiation therapy simulators are expected to be the fastest-growing segment.
• By end-users, hospitals are the largest in the segment.

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Key Factors Driving the fast–paced growth of the market:

• The proliferating rise in the number of cancer cases. 

According to WHO, cancer is the 6th leading cause of death worldwide. According to the CDC, cancer is ranked 2nd in the leading causes of death in the US. According to Canadian government statistics, cancer is the leading cause of death in the country. Radiation therapy has been found to be an effective method of treatment of cancers. With the increasing number of cases globally, there will be further demand for various therapies involving radiation treatment for cancers. 

• Technological Advancements in the field.

The most recent trend is the usage of flash therapy, which is a high dose of radiation for a very short period of time. Recent studies have shown that this treatment method is ready for human trials after the successful remission of cancers in rats and other mammals. Further, image-guided linear accelerators are showing improved efficiency in the treatment of cancers. This is because the live-imaging assists in a more targeted direction of radiation beams to the tumours. Proton therapy is considered the next major development in the field of radiotherapy. Protons have shown improved results over photon therapy. The proton beams attack the cancer cells differently, making the process more efficient. Further research will have to be carried out to receive the necessary approvals before they can be used as a mainstream treatment. 

• High rate of success of the radiation therapy. 

According to the Faculty of Radiation Oncology, The Royal Australian and New Zealand College of Radiologists, the pain associated with bone cancer patients improved significantly or vandalized altogether in 75% of all patients. According to Memorial Sloan Kettering Cancer Centre, radiation therapy has shown over 90% success rates in the treatment of prostate cancer. Thus, with improving success rates of using radiotherapy for various cancers, we would see an enhancement of the radiotherapy market. 

• Increasing awareness campaigns. 

In the UK, campaigns for various cancers are run at rapid intervals. For example, January includes a ‘Cervical Cancer Prevention Week’; February is Oesophageal Cancer Awareness month, and the 4th of February is world cancer day. According to Cancer Research, UK, the effect of the various campaigns is positive in nature, with an increase in the number of referrals for testing and increased patient inflow at oncology wards for cancer tests. At the time of the research, over 700 lung cancer patients were diagnosed as compared to the previous year. Thus, with the increasing awareness campaigns, more cancers are likely to be detected and require immediate radio-therapeutic treatments.

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Detailed Segmentation Analysis of the Radiotherapy Market as conducted by Strategic Market Research:  

Based on type

• Systemic Radiation Therapy
• External Beam Radiation Therapy
• Internal Beam Radiation Therapy

Based on Equipment

• Linear Accelerators
• Radiation Therapy Simulators
• Treatment Planning Systems

Based on Application

• Breast Cancer
• Cervical Cancer
• Lung Cancer
• Prostate Cancer
• Skin Cancer
• Colon and rectum Cancers
• Stomach Cancer
• Liver Cancer
• Other types of cancer

Based on Region

North America

Europe

• United Kingdom
• Germany
• France
• Italy
• Spain 
• Germany
• Rest of Europe

Asia Pacific

• Japan
• China
• South Korea
• India
• Australia
• Rest of Asia Pacific

LAMEA

• Argentina
• Brazil
• UAE
• Saudi Arabia
• Qatar
• Nigeria
• South Africa
• Rest of LAMEA

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Based on type, external beam radiation therapy holds the highest market share. This type of therapy delivers radiation using a machine that is outside the body and has the advantage that it can cover large areas of the body if required. This method treats several types of cancer like – melanoma, colorectal, prostate, lung and breast, amongst others. According to Cancer Research UK, 27% of all cancer patients underwent radiotherapy for their treatment, primarily undergoing external beam radiation. Thus, with increasing cancer cases, the need for this treatment method would further increase.

Based on equipment, radiation therapy simulators hold the highest market share. These are the devices that are used before, during and post-treatment procedures that aid overall patient care. Devices include x-ray tubes, imaging units such as CT or MRI, RC consoles, gantry and collimators. With the increasing use of radiotherapy, we would see an increase in the number of such simulators as well, thus augmenting the overall growth of the market.

Based on application, breast cancer presents itself with the largest market for radiotherapy. As per WHO, breast cancer was among the most common type of cancer detected and ranked 5th in terms of the total deaths caused by cancer. Further, the report states in 2020, that 2.3 million were diagnosed, and there were 685,000 deaths globally. With 7.8 million patients who were diagnosed with cancer in the past five years, breast cancer is the most prevalent type globally. According to the CDC, breast cancer is the most common cancer prevalent amongst women in the US. According to Eurostat, breast cancer was the leading cause of death in women suffering from any form of cancer. Lung cancers are among the leading causes of death and increasing cancer cases globally. According to WHO, it is the leading cause of cancer-related deaths and the second most occurring cancer detected in 2020. As per the American Cancer Society, the estimates for 2022 show over 236,000 new cases and over 130,000 deaths due to lung cancer. Hence, with the staggering numbers of lung and breast cancers, the market will develop further for the use of radiotherapy to treat cancers.

Based on region, North America had the highest market share for radiotherapy. This is basically due to the advanced healthcare infrastructure in Canada and USA. In 2021, the Canadian healthcare system spent over CAD 26 billion on cancer treatments alone. In the US, according to the National Cancer Institute, over USD 21 billion was spent on cancer care. According to the CDC, for every 100,000 people considered, 439 new cases of cancer and 146 deaths were recorded. In Canada, the rate was 539 new cases per 100,000. Thus, with increasing cancer caseloads and higher spending on the conditions, the market for radiotherapy would propel further. 

Key Players in the Radiotherapy Market are:

• Accuray, Inc.
• Becton, Dickinson and Company
• Eckert & Ziegler
• Elekta
• GE Healthcare
• Hitachi Ltd.
• ICAD, Inc.
• IntraOrp Medical, Inc.
• Ion Beam Applications SA
• IsoRay Medical, Inc.
• Mevion Medical Systems, Inc.
• Panacea Medical Technologies Pvt. Ltd.
• P-cure Ltd.
• Varian Medical Systems, Inc. (a subsidiary of Siemens Healthineers AG)
• ViewRay, Inc.
• ZEISS Group

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Recent Developments:

• In June 2022, results from a trial showed that the use of dysphagia-optimized intensity-modulated radiotherapy (DO-IMRT) had fewer adverse side effects on patients as compared to standard IMRT. This implies that it eased the process of chewing and swallowing in patients. 
• In June 2022, the FDA cleared the use of Barrigel as a spacer in the treatment of prostate cancer, thereby reducing the amount of radiation the rectum is exposed to. 
• In June 2022, a study was presented at the International Symposium on Pediatric Neuro-Oncology (ISPNO), which showed that upfront radiotherapy in paediatric patients of a rare condition called sonic hedgehog medulloblastoma and Li-Fraumeni syndrome (LFS SHH-MB) improved the probability of event-free survival of the patient. 
• In June 2022, Accuray and Limbus AI announced a partnership to develop and improve algorithms that would aid in the radiotherapy planning process. 
• In June 2022, a study published in the Journal of the American Veterinary Medical Association found that stereotactic radiotherapy used in treating nasal tumours for dogs improved dogs’ overall event-free life expectancy. 

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