The global radiotherapy market was valued at US$ 5,253.7 million in 2016 and is expected to witness a robust CAGR of 6.8% over the forecast period (2017 - 2025).

Seattle, WA -- (SBWire) -- 10/01/2019 --Radiation therapy or radiotherapy is a therapy that uses ionizing radiation, which is primary part of cancer treatment, used to control or kill malignant cells. In advanced radiotherapy, radiations are bombarded to kill cancer cells with minimal damage to healthy cells around them. It is a cost-efficient and most powerful form of treatment and when integrated in image-guided therapy, it enhances the control over toxicity and tumor growth. There are several radiotherapies used in cancer treatment including systematic radiation therapy, internal beam therapy, and external beam therapy. External beam therapy is used for typical cancers such as bladder cancer, brain tumors, and bone cancers. On the contrary, brachytherapy or internal radiation therapy is used to treat cancers of neck and head, cervix, breast, eye and prostate. Furthermore, systematic radiation therapy is typically used for treatment of thyroid cancers with radioactive iodine.

The global radiotherapy market was valued at US$ 5,253.7 million in 2016 and is expected to witness a robust CAGR of 6.8% over the forecast period (2017 - 2025).

Growing prevalence of cancer is expected to drive growth of the global radiotherapy market
Rising prevalence of cancer-associated diseases such as prostate cancer, lung cancer, and breast worldwide is expected to boost the demand for timely management of cancer with radiation therapy, which in turn is expected to drive growth of the global radiotherapy market during the forecast period. According to International Cancer Association, in 2014, cancer kills more people than malaria, TB, and AIDS combined. This shows increasing demand for advanced technologies for cancer treatment across the globe. Furthermore, according to the World Cancer Research Fund Organization, in 2015, lung cancer was among the most prevalent cancers in the world and contributed to around 1.39 million or 13% of total cancers diagnosed in 2015. According to the same source, breast cancer is the second-most common cancer and is prevalent in women with over 1.7 million new cases diagnosed in 2012. Moreover, increasing prevalence of cancer among children is expected to fuel the demand for radiation therapy as it is highly advised due to its fewer adverse effects. According to the International Union against Cancer (UICC) Report, 2017, around 160,000 children are estimated to be diagnosed with cancer with around 90,000 children to die worldwide.

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North America accounts for the largest market share in the global radiotherapy market
North America is expected to hold dominant position in the market, owing to increasing prevalence cancer in the U.S. and growing preference to novel radiation therapies over conventional therapies. According to National Cancer Institute's survey, 2016, around 1,685,210 new cases of cancer were recorded in the U.S. and 595,690 deaths due to cancer were reported. According to the same source, public expenditures for cancer care in the U.S. marked to US$ 125 billion in 2010 and is expected to reach to US$ 156 billion in 2020. Hence, increasing demand for radiotherapy for cancer management is expected to increase, which will further minimize the economic burden in the region. However, radiotherapy may cause damage to organs such as stomach, bowel, liver, and kidneys, which are near the site of treatment. This in turn is expected to hinder growth of the global radiotherapy market.
Higher efficiency of radiotherapy equipment with enhanced clinical results is expected to fuel growth of the global radiotherapy market

Radiotherapy is preferred by most patients due to its effectiveness. According The Mesothelioma Center report, radiation therapy accounts for an average US$ 2,000 per treatment, whereas the initial treatment cost of chemotherapy is around US$ 7,000. Moreover, according to a study published in the journal 'Frontiers of Oncology', 2014, the impact of radiotherapy for cancer cure was 40%, compared to 11% of patients by systemic treatments globally. According to Royal College of Radiologists, radiotherapy is a safe, modern, and an efficient targeted cure, contributing to the cure of 40% of cancers, while drug therapy accounts for 10% of cancer cure among patients. Among regions, Europe is expected to be the fastest-growing region in the global radiotherapy market. This is owing to increasing number of government initiatives being undertaken for cancer care, which has increased introduction of novel therapies in the global market. For instance, in 2015, the Swedish Government launched the 'National Cancer Program' to make cancer care more equitable and accessible. Moreover, in 2017, the Swedish Testbed for Innovative Radiotherapy was launched as a collaborative platform to enable healthcare providers and market players in Sweden to test new technology and methods in clinical settings for the development of innovative radiotherapies for cancer treatment. Moreover, in 2016, National Health Service, England announced US$ 183 million investment to upgrade radiotherapy investment, ensuring patients receive access to the latest leading-edge technology, thereby transforming cancer treatment across England.

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Major players operating the global radiotherapy market include Accuray Incorporated, Varian Medical Systems, Inc., Elekta AB, Ion Beam Applications S.A., C.R. Bard, Inc., Isoray Medical, Inc., CIVCO Radiotherapy, Hitachi Ltd., Mevion Medical Systems, Inc., and ProTom International, Inc. 

Market Dynamics

Major factors driving growth of the radiotherapy market include rising prevalence of cancer, increasing adoption of innovative targeted therapies such as radiotherapy due to side effects associated with traditional chemotherapies such as anemia and infection for cancer treatment. According to the World Cancer Research Fund International, 2012, around 14.1 million cancer cases were registered globally, the number of which is projected to rise to 24 million by 2035. This in turn, is expected to increase the demand for radiotherapy over the forecast period. Nevertheless, the opportunities for the key players to provide radiotherapy products in emerging markets with increasing demand for efficacious cancer treatment are anticipated to provide better prospects for market growth in the near future. However, difficulty in tumor visualization experienced during radiotherapy procedures and the dearth of skilled professionals to carry out radiotherapy are factors restraining growth of the radiotherapy market.

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