Radiotherapy Market to Witness Massive Growth | Covid-19 Impacts, Industry Opportunity, Analysis and Forecast
The global radiotherapy market is expected to exhibit a strong 7% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global radiotherapy market is profiled in the report with the help of historical statistics revealing the historical growth trajectory of the market. The trajectory exhibited by the market in reaching its current position is analyzed in detail in the report in order to reveal major trends influencing the market’s growth. These trends, including the major drivers and restraints for the market as well as economic factors playing a role in the development of the market, are profiled in detail in the report.
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Radiotherapy is a nuclear medicine technique used for various purposes, including X-rays and cancer treatment. The growing demand for radiotherapy in cancer treatment is the major driver for the global radiotherapy market. Radiotherapy eliminates cancer cells by dosing them with radiation. This is one of the most effective ways to treat cancer, along with surgery and chemotherapy. The high efficacy of radiotherapy in treating cancer and eliminating tumors has resulted in a growing demand from the radiotherapy market. About 4 in 10 people undergoing cancer treatment are treated with radiotherapy.
Leading players in the global radiotherapy market include Hologic, Shimadzu Corporation, Philips Healthcare, Fuji Holdings, ViewRay, Isoray, Nordion, Cardinal Health, Varian, Siemens, and GE Healthcare. Leading players in the global radiotherapy market are likely to focus on inorganic expansion in the coming years by acquiring promising startups and small companies in the healthcare sector that specialize in the development of tools and technologies that can complement radiotherapy. Developing more effective radiotherapy devices while minimizing the negative side effects of radiotherapy, such as nausea and hair loss, is likely to be a promising development avenue for players in the global radiotherapy market. Increasing the precision of radiotherapy devices so that they act on tumor cells without hurting any of the healthy cells in the vicinity is likely to be a major development target for players in the radiotherapy market.
The global radiotherapy market is segmented on the basis of treatment type, application, and region.
By treatment type, the global radiotherapy market is segmented into X-ray, gamma ray, external beam radiotherapy, proton therapy, and internal radiation therapy.
By application, the global radiotherapy market is segmented into prostate cancer, breast cancer, lung cancer, ovarian cancer, and thyroid cancer.
The Americas hold the largest share in the global radiotherapy market. The well-developed healthcare sector in the region is the major driver for the radiotherapy market in the Americas, as a large number of hospital and medical facilities have radiotherapy capabilities. The strong presence of leading radiotherapy device and technology developers in the U.S. is also a major driver for the Americas market for radiotherapy.
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