Radiotherapy Market – By Type (External Beam [Proton Therapy, Image-guided Radiation Therapy], Internal), Application (Lung Cancer, Prostate Cancer, Breast Cancer), End-use (Hospitals, Cancer Research Institutes) – Global Forecast 2024 – 2032

Radiotherapy Market – By Type (External Beam [Proton Therapy, Image-guided Radiation Therapy], Internal), Application (Lung Cancer, Prostate Cancer, Breast Cancer), End-use (Hospitals, Cancer Research Institutes) – Global Forecast 2024 – 2032

Radiotherapy Market Size

Radiotherapy Market size was valued at around USD 7 billion in 2023 and is estimated to grow at 5.7% CAGR from 2024 to 2032. Radiotherapy is a medical treatment that uses high doses of radiation to kill cancer cells and shrink tumors.

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The radiation, often in the form of X-rays, gamma rays, or charged particles, targets and damages the DNA within cancer cells, preventing them from growing and dividing. This treatment can be delivered externally using a machine called a linear accelerator (external beam radiotherapy) or internally by placing radioactive material inside the body near cancer cells (brachytherapy).
 

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Technological advancements have markedly enhanced the precision and efficacy of radiotherapy, enabling targeted treatments that reduce harm to nearby healthy tissues. With cancer rates rising worldwide, the need for sophisticated treatments has surged, spurring investments in cutting-edge radiotherapy solutions. For instance, the global cancer burden is expected to increase significantly about 60% by 2040, with tobacco being the leading preventable cause of cancer. With 18.1 new million cases in 2018, 29.4 million cases can be expected by 2040 due to the aging and growing population, according to the third edition of the Cancer Atlas. Additionally, as awareness grows about the advantages of early cancer diagnosis and treatment, radiotherapy adoption rates are climbing. Complementing this trend, government backing and investments in cancer research and treatment infrastructure are bolstering the radiotherapy sector.

Furthermore, enhancing the precision of radiation therapy is crucial to target tumors accurately while minimizing harm to surrounding tissues. Image-guided radiotherapy, a product of extensive research, leverages advanced imaging methods to enhance tumor visualization. The ongoing enhancements in tumor imaging, specifically for radiotherapy, are poised to be the primary growth catalyst for this market in the next decade.

Radiotherapy Market Trends

• Advanced technologies, notably artificial intelligence (AI) and machine learning, are being integrated to enhance treatment plan precision and personalization.
  The industry is witnessing a notable shift towards more accurate tumor targeting with the rise of image-guided radiotherapy (IGRT) and intensity-modulated radiotherapy (IMRT), which aim to minimize collateral damage to healthy tissues.
• Proton therapy is gaining traction, especially for pediatric cancers and tumors near critical structures, due to its superior dose distribution precision. Hypofractionated radiotherapy, which administers higher doses in fewer sessions, is increasingly favored for its cost-effectiveness and convenience.
• Moreover, heightened R&D investments are fueling innovations in radiotherapy equipment and techniques. Collaborations between healthcare providers and tech firms are driving the development of cutting-edge radiotherapy solutions, further fueling market growth.

Radiotherapy Market Analysis

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Based on type, the market is segmented into external beam radiation therapy, internal radiation therapy, and systemic radiation therapy. Furthermore, the external beam radiation therapy segment is further sub-segmented into intensity-modulated radiation therapy, image-guided radiation therapy, proton therapy, and other external beam radiation therapies. The external beam radiation therapy segment dominated the market with the largest revenue of USD 4.6 billion in 2023.

• Technological advancements in imaging and delivery systems have significantly enhanced the precision and effectiveness of external beam radiation therapy (EBRT), allowing for more precise tumor targeting while minimizing damage to surrounding healthy tissues.
   
• Additionally, with the global incidence of cancer on the rise, the demand for effective treatments like EBRT is escalating. Heightened awareness and improved cancer detection methods have further fueled this demand, especially given EBRT's common use in early-stage treatments.
   
• Moreover, supportive government policies, increased funding for cancer treatment infrastructure, and a surge in healthcare investments are all propelling the adoption of EBRT.

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Based on application, the radiotherapy market is segmented into lung cancer, prostate cancer, breast cancer, cervical cancer, head & neck cancer, and other applications. The breast cancer segment dominated the market and was valued at USD 2 billion in 2023.

• Radiotherapy techniques, notably three-dimensional conformal radiotherapy (3D-CRT) and intensity-modulated radiation therapy (IMRT), have advanced significantly. These advancements have not only bolstered treatment precision but have also enhanced its effectiveness, thereby reducing side effects and improving patient outcomes.
   
• Additionally, the global surge in breast cancer cases stands as a pivotal catalyst, underscoring the pressing need for effective treatments like radiotherapy. Furthermore, heightened awareness and improved early detection, largely through screening programs, have amplified the demand for radiotherapy

Based on end-use, the radiotherapy market is segmented into hospitals, radiotherapy centers and ambulatory surgery centers, and cancer research institutes. The hospitals segment held the largest revenue of USD 2.9 billion in 2023.

• Hospitals are increasingly integrating comprehensive cancer treatment centers, which provide diverse therapeutic options, notably radiotherapy. Advanced techniques like stereotactic body radiotherapy (SBRT) and proton therapy are broadening hospitals' therapeutic reach, enabling them to tackle intricate and previously inaccessible tumors.
   
• Moreover, partnerships between hospitals and tech firms are driving ongoing innovation in radiotherapy, solidifying hospitals' positions as leaders in cancer treatment. For example, in January 2024, Mayo Clinic partnered with Varian Medical Systems to enhance their radiotherapy capabilities. This collaboration aimed to leverage Varian's cutting-edge technology to improve treatment precision, reduce side effects, and increase overall patient outcomes.

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The North America radiotherapy market is forecasted to reach USD 4.1 billion by 2032. The U.S. dominated the North America market with the largest revenue of USD 2.4 billion in 2023.

• North America's strong healthcare infrastructure facilitates the adoption of advanced medical technologies like proton therapy and state-of-the-art linear accelerators. These technologies provide patients with more precise and efficient treatment options.
• Additionally, both public and private sectors in the region are heavily investing in research and development, spurring innovation in radiotherapy techniques and equipment. This has led to the development of novel therapies and enhanced treatment outcomes.

The radiotherapy market in UK is expected to experience significant and promising growth from 2024 to 2032.

• The UK Government's Cancer Drugs Fund actively promotes the integration of cutting-edge radiotherapy technologies and novel treatment approaches. Concurrently, research and development, bolstered by entities such as Cancer Research UK, are propelling innovation and enhancing radiotherapy methodologies.
   
• Moreover, according to a report by Cancer Research UK in 2023, with cancer incidence rates in the UK reaching approximately 375,000 new cases annually, there's a heightened demand for potent radiotherapy solutions, underscoring the imperative for continual investments and enhancements in the nation's cancer treatment infrastructure.

Japan radiotherapy market is anticipated to witness lucrative growth between 2024 – 2032.

• The country's aging demographic is fueling a rise in cancer cases, driving up the need for advanced treatments like radiotherapy.
• Additionally, Japanese hospitals are notably embracing state-of-the-art technologies, including proton therapy and image-guided radiotherapy (IGRT), to elevate treatment accuracy and patient results.

The radiotherapy market in Saudi Arabia is expected to experience significant and promising growth from 2024 to 2032.

• The Saudi government, through its Vision 2030 initiative, is driving the expansion of radiotherapy services by prioritizing healthcare infrastructure. Vision 2030's objectives include elevating healthcare standards, broadening access to cutting-edge medical solutions, and deploying state-of-the-art technologies, particularly in cancer care.
   
• Furthermore, the nation's focus on setting up dedicated cancer treatment facilities and launching public awareness initiatives for cancer prevention and early detection is amplifying the need for radiotherapy services.

Radiotherapy Market Share

The radiotherapy sector is competitive in nature, with a mix of major global and smaller to medium-sized companies competing for market share. A pivotal aspect of market strategy involves the continual introduction of innovations such as proton therapy, intensity-modulated radiation therapy (IMRT), stereotactic body radiotherapy (SBRT), image-guided radiotherapy (IGRT), and adaptive radiotherapy. Notably, prominent industry players command considerable influence in this dynamic landscape, often driving forward advancements through substantial investments in research and development. Additionally, strategic alliances, acquisitions, and mergers are instrumental in fortifying market positions and expanding global footprint amidst evolving regulatory landscapes.

Radiotherapy Market Companies

Some of the eminent market participants operating in the radiotherapy industry include

• Accuray Incorporated
• Brainlab AG
• Curium
• Canon Medical Systems Corporation
• Elekta AB
• Hitachi High-Tech Corporation
• IBA Radiopharma Solutions
• Isoray Inc.
• Mevion Medical Systems
• Mitsubishi Electric Corporation
• Nordion, Inc.
• NTP Radioisotopes SOC Ltd.
• RefleXion
• Toshiba Energy Systems & Solutions Corporation
• Varian Medical Systems, Inc.

Radiotherapy Industry News

• In April 2024, GE Healthcare's subsidiary, MIM Software, deepened its collaboration with Elekta AB, aiming to enhance their radiation therapy software. This move expanded on an earlier agreement where GE Healthcare and Elekta primarily worked on supplying imaging and radiation therapy tools to hospitals.
   
• In May 2024, Elekta AB announced the acquisition of Philips Healthcare’s Pinnacle Treatment Planning System (TPS) patent portfolio. This strategic acquisition strengthened Elekta’s position in treatment planning and reinforced its commitment to leading innovation in the field of radiation therapy.

The radiotherapy market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments

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Market, By Type

• External beam radiation therapy
  • Intensity-modulated radiation therapy (IMRT)
  • Image-guided radiation therapy (IGRT)
  • Proton therapy
  • Other external radiation therapies
• Internal radiation therapy
• Systemic radiation therapy

Market, By Application

• Lung cancer
• Prostate cancer
• Breast cancer
• Cervical cancer
• Head & neck cancer
• Other applications

Market, By End-use

• Hospitals
• Radiotherapy centers & ambulatory surgery centers
• Cancer research institutes

The above information is provided for the following regions and countries

• North America 
  • U.S.
  • Canada
• Europe 
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific 
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America 
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa 
  • South Africa
  • Saudi Arabia
  • Rest of Middle East and Africa