Bizizz Market Research has recently published a research report, “Radiotherapy Market By Type (External Beam Radiation Therapy (Intensity-Modulated Radiation Therapy (IMRT). Image-Guided Radiation Therapy (IGRT), Tomotherapy, Stereotactic Radiosurgery, Stereotactic Body Radiation Therapy, Proton Therapy), Internal Radiation Therapy, Systemic Radiation Therapy)), End-users (Hospitals, Cancer Research Institutes, Ambulatory and Radiotherapy Centers), Application (Skin & Lip Cancer, Head & Neck Cancer, Breast Cancer, Prostate Cancer, Cervical Cancer, Lung Cancer, Spine Cancer and Others), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Radiotherapy Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 8.03 Bn by 2027, witnessing a CAGR of 4.1 % during the forecast period. Key drivers of the market are increasing cases of Cancer coupled with various government initiatives.
The Radiotherapy market globally is impacted by the existence of sufficient skilled professionals to carry out these treatments. As per the WHO the major reason for the cause of deaths among the individuals worldwide is Cancer accounted approximately about 9.6 Mn deaths in the year 2018, which needs to be treated with various methods which also involves one of the effective treatment procedure known as Radiotherapy. Thus, as per the report of WHO around 70% of the cancer deaths were registered among the people belonging to the lower and middle income group worldwide which is urging the healthcare organizations to introduce cost effective and highly efficient methods of radiotherapy treatments.
The Radiotherapy market is anticipated to register a CAGR of over 4.1% during the forecast period.
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By Therapy, Intensely modulated radiation therapy (IMRT) segment held a key/prominent share in Global Radiotherapy Market in 2018.
The global demand for treating cancer is observed high through the segment of intensely modulated radiation therapy (IMRT) which is an external beam radiation therapy. The prominence of IMRT is greater and exhibits huge market growth potential in contrast to different external beam radiation therapies. Advantages associated with IMRT are gives higher doses as a radiation to various sites of cancer, could project numerous beams of radiation targeted to various sites with different frequencies of radiation to treat cancer as per the requirement through customization.. Such factors associated with the radiotherapy of IMRT are expected to continue its market growth and is anticipated for higher market demand during the forecast period.
North America is Anticipated to Dominate the Global Radiotherapy Market during the Forecast Period.
The North American market is accounted for being dominant in the cancer cases which are approximately half of the total cases registered globally. The healthcare facilities that are existing in this region are also advanced coupled with government initiatives that supports the healthcare industry is contributing to the market of Radiotherapy. Several new healthcare establishments are also investing heavily in the Radiotherapy to treat cancer with advanced technologies had contributed in the growth of this market substantially.
Global Radiotherapy market was highly fragmented among the number of local and global players. The companies involved in this market are competing through the introduction of various advanced technologies in treating cancer.
Prominent players operating in the Global Radiotherapy Market are: Siemens AG., GE Healthcare, Ion Beam Applications, Nordion (Canada) Inc., Isoray, Mirada Medical, Elekta AB, Canon Medical Systems Corporation, and Varian Medical Systems, Inc., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
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e) Market assessment, regional
and country attractiveness, competitive benchmarking
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f) Prioritizing strategies and
how it would impact company’s short to long-term business
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