Seattle, WA -- (SBWIRE) -- 02/26/2020 -- Radiotherapy, also known as radiation therapy, uses ionizing radiations that deliver targeted beams of radiation to kill and destroy cancer cells. The advanced technology used in radiotherapy works by bombarding cancerous cells with radiation to kill them, while minimizing damage to the healthy cells around them. Radiotherapy is the most potent and cost-effective treatment for cancer, and when integrated with advanced technologies such as image guided therapy, leads to enhanced control over tumor and toxicity.

Several types of radiotherapies such as external beam radiation therapy, internal beam radiation therapy/ brachytherapy, and systemic radiation therapy, are available to combat various types of cancers prevalent globally. External beam radiation therapy is used to treat various types of cancers, including brain tumors, bladder cancer, and bone cancers. Brachytherapy is often used to treat cancers of the head and neck, breast, cervix, prostate, and eye, while systemic radiation therapy is often used to treat certain types of thyroid cancers using 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 (2020 - 2026).

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Recent advancements in radiotherapy techniques to enhance the accuracy of treatment with the approval from regulatory agencies is a major factor augmenting growth of the radiotherapy devices. For instance, in 2017, Hitachi Ltd. received U.S. FDA clearance for the launch and commercialization of Real Time Image Gating System for Proton Beam Therapy Systems (RGPT), enabling patients the access to advanced spot scanning irradiation technology. The system was developed with collaborative efforts of Hokkaido University Hospital and the Clinical Research and Medical Innovation Center. Moreover, increasing number of research groups are collaborating to explore targeted systemic therapies for the advancement of radiotherapy technology, creating potential impact on the market growth. For instance, the National Collaborative Research Infrastructure Strategy (NCRI) launched the Clinical and Translational Radiotherapy Research Working Group (CTRad), to work towards the national radiotherapy research agenda by developing high-quality radiotherapies, thereby optimizing tumor control and minimizing toxicity for patients receiving radiotherapy.

Key players are adopting strategic collaborations and acquisitions for the development of radiotherapy techniques to accelerate innovation and to expand their geographical presence, thereby augmenting market growth. For instance, in 2017, Ion Beam Applications collaborated with Royal Philips to offer unique integrated solutions for proton therapy and molecular imaging centers, with an objective to enable effective and personalized cancer care. The companies collaborated to deliver proton therapy systems such as Proteus ONE and Proteus PLUS and clinical informatics solution such as Philips Big Bore CT, PET CT systems and Pinnacle3 Treatment Planning System in the UK, Middle East, and India. Moreover, key players are launching high-quality tools for accurate and efficient radiotherapy treatment, thereby introducing novel solutions to enhance oncology radiotherapy. For instance, in 2017, Toshiba Medical introduced Galan RT Solutions suite of radiation therapy tools, which include the advanced Universal Couchtop MR Overlay from Civco Radiotherapy to help improve patient safety by sparing healthy tissue from unnecessary radiation. Galan RT Solutions allow health care providers to precisely map MR data to PET/CT images to develop radiation therapy plans, thus prioritizing patient care.

Radiotherapy is increasingly being adopted for cancer treatment due to its cost-effectiveness. According to the report by The Mesothelioma Center, radiation therapy accounts for an average US$ 2,000 per treatment, whereas the initial treatment cost of chemotherapy is around US$ 7,000. Also, according to a study published in the Journal named Frontiers of Oncology, 2014, the impact of radiotherapy for cancer cure was 40%, compared to 11% of patients by systemic treatments globally. Also, the Royal College of Radiologists states that 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. Europe is expected to be the fastest-growing region in the radiotherapy market, owing to the increasing number of government initiatives being undertaken for cancer care, in turn increasing the 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.

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. Also, in 2016, National Health Service, England announced US$ 183 million investment to upgrade radiotherapy investment, ensuring patients get access to the latest leading-edge technology, thereby transforming cancer treatment across England.

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Detailed Segmentation:

Global Radiotherapy Market, By Product Type:

External Beam Radiation

Compact Advanced Radiotherapy Systems

Cyber Knife

Gamma Knife

Others

Proton Therapy Systems

Synchrotron

Cyclotron

High Energy Linear Accelerators (LINAC)

Internal Beam Radiation

Applicators

Afterloader

Seeds

Capnographs

Gas Analyzers

Systemic Radiation

Global Radiotherapy Market, By Therapy Type:

External Beam Radiation Therapy

Stereotactic Radiosurgery (SRS)

Stereotactic Body Radiation Therapy (SBRT)

Intensity-modulated Radiation Therapy (IMRT)

Proton Therapy

Image-guided Radiotherapy (IGRT)

Volumetric Modulated Arc Therapy (VMAT)

Others

Internal Beam Radiation Therapy

Low-dose Rate Brachytherapy (LDR)

High-dose Rate Brachytherapy (HDR)

Image-guided Brachytherapy (IGBT)

Pulse Dose Rate Brachytherapy (PDR)

Systemic Radiation Therapy

Oral Radiotherapy

Intravenous Radiotherapy

Global Radiotherapy Market, By Application:

Prostate Cancer

Breast Cancer

Lung Cancer

Colorectal Cancer

Cervical Cancer

Others

Global Radiotherapy Market, By End User:

Hospitals

Oncology Clinics

Ambulatory Radiotherapy Centers

Others

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