Surface Guided Radiation Therapy (SGRT) Devices Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Device Type (Portable and Fixed), By Application (Breast Cancer, Head & Neck Cancer, Abdominal & Pelvic Cancer, Dermatology, Others), By End User (Hospitals & Clinics, Diagnostic Centers, Others), By Region and Competition
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationSurface Guided Radiation Therapy (SGRT) Devices Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Device Type (Portable and Fixed), By Application (Breast Cancer, Head & Neck Cancer, Abdominal & Pelvic Cancer, Dermatology, Others), By End User (Hospitals & Clinics, Diagnostic Centers, Others), By Region and Competition
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD154.55 million |
| CAGR (2023-2028) | 10.04% |
| Fastest Growing Segment | Portable |
| Largest Market | Europe |
Market Overview
Global Surface Guided Radiation Therapy (SGRT) Devices Market has reached reach USD154.55 million by 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 10.04% through 2028. The rise in the prevalence of cancer globally is one of the main factors driving the growth of the SGRT (Surface Guided Radiation Therapy) devices market. According to the World Health Organization reports, cancer is the second leading cause of death worldwide, accounting for nearly 10 million deaths in 2020. This alarming statistic has created an urgent need for more efficient and precise treatment modalities, prompting the adoption of SGRT technology.
Furthermore, advancements in technology have revolutionized radiation therapy by improving treatment accuracy, reducing the time required for treatment sessions, and minimizing damage to healthy tissues. These notable improvements have significantly contributed to the growing demand for SGRT devices.
The future of the SGRT devices market looks highly promising, with continuous innovations and research driving further growth. As healthcare providers increasingly recognize the benefits of SGRT technology, its adoption is projected to expand. Additionally, as patients become more aware of the advantages associated with SGRT, the demand for these devices is expected to soar.
Key Market Drivers
Rise in Prevalence of Cancer
Cancer, one of the leading causes of death globally, continues to affect millions of individuals each year. According to the Global Cancer Observatory, in 2020, around 19,292,789 new cancer cases were reported worldwide. This increasing incidence of cancer has led to a growing demand for innovative and effective treatment modalities, such as Surface Guided Radiation Therapy (SGRT).
SGRT devices offer a highly precise and non-invasive form of radiotherapy that minimizes damage to healthy tissues surrounding tumors. By utilizing advanced imaging and tracking technologies, SGRT enables real-time patient monitoring and movement tracking during radiation treatment. This level of precision and accuracy allows healthcare professionals to deliver precise radiation doses to the tumor while sparing healthy tissues, particularly beneficial in treating cancers located near critical organs.
The rising number of cancer cases and the need for more targeted and personalized treatments have driven the growth of the SGRT devices market. With ongoing research and technological advancements, SGRT devices have become an integral part of modern cancer treatment strategies. The ability to deliver radiation therapy with enhanced precision and efficiency has significantly improved patient outcomes and quality of life.
In conclusion, the rise in the prevalence of cancer is a major driver of the global SGRT devices market. As the demand for effective cancer treatments continues to grow, the need for advanced technologies like SGRT will only become more critical. With ongoing research and development, the SGRT devices market is poised for significant growth in the coming years, offering new hope and improved outcomes for cancer patients worldwide.
Rise in Healthcare Expenditure
A significant portion of healthcare expenditure is allocated towards investing in advanced technologies like Surface Guided Radiation Therapy (SGRT). As healthcare providers actively seek to offer more effective treatments and improve patient outcomes, the demand for innovative and precise treatment modalities such as SGRT has witnessed a remarkable surge.
SGRT devices provide a highly accurate form of radiotherapy that minimizes damage to healthy tissues surrounding tumors. This cutting-edge technology utilizes real-time imaging and tracking to ensure precise delivery of radiation, improving treatment efficiency and reducing potential side effects. With the increase in healthcare spending, hospitals and cancer research institutes are now able to afford and invest in these high-end devices, consequently driving the growth of the SGRT devices market.
Moreover, the continuous advancements in radiation therapy technologies, including the integration of artificial intelligence and machine learning algorithms, further enhance the capabilities of SGRT devices. This, along with the increasing adoption of SGRT devices across hospitals and cancer research institutes, is expected to contribute significantly to the market growth.
In conclusion, the rise in healthcare expenditure plays a pivotal role in driving the global SGRT devices market. As healthcare spending continues to grow, the demand for advanced technologies like SGRT will become even more critical. With ongoing research, technological advancements, and the integration of intelligent algorithms, the SGRT devices market is poised for significant growth in the coming years, revolutionizing the field of radiation therapy and improving patient care.
Key Market Challenges
Limited Awareness and Adoption of SGRT Devices
Despite the proven effectiveness of Surface Guided Radiation Therapy (SGRT) devices in enhancing the precision and accuracy of radiation therapy, there is still a significant lack of awareness and understanding among healthcare professionals and patients regarding this advanced technology. This lack of awareness can primarily be attributed to various factors.
Firstly, the relatively recent introduction of SGRT devices has limited their widespread adoption and knowledge. Traditional radiation therapy methods have been dominant for a long time, and it takes time for new technologies to gain recognition and acceptance in the medical field.
Secondly, the complexity of SGRT devices and the need for specialized training to operate them further contribute to the limited awareness and understanding among healthcare providers. The technical aspects and intricacies of SGRT devices require healthcare professionals to undergo specific training to ensure proper utilization and maximize the benefits of this technology.
Moreover, the limited awareness directly impacts the adoption rate of SGRT devices, not only in developing countries with resource constraints but also in developed countries. Many hospitals and cancer research institutes, particularly those in resource-limited settings, still heavily rely on conventional radiation therapy methods due to the high cost associated with implementing and maintaining SGRT devices.
Furthermore, the need for specialized training and technical expertise to operate SGRT devices can pose challenges to their widespread adoption, especially in regions facing shortages of skilled healthcare professionals. The scarcity of trained personnel capable of operating and maintaining SGRT devices can hinder the integration and utilization of this advanced technology in healthcare facilities.
In summary, despite the proven effectiveness of SGRT devices, the lack of awareness, the dominance of traditional methods, the complexity of the technology, and the need for specialized training and resources all contribute to the limited adoption and understanding of SGRT devices in the field of radiation therapy.
Key Market Trends
Growing Focus on Personalized Medicine
Personalized medicine, also known as precision medicine, is a revolutionary approach that seeks to optimize medical treatment based on the unique characteristics of each patient. By leveraging genetic or other biomarker information, healthcare providers can tailor preventative health care plans and therapies to the individual needs of patients.
In recent years, personalized medicine has gained significant traction in the healthcare industry, driven by remarkable advancements in genomics, proteomics, and metabolomics, as well as the development of targeted therapies. This paradigm shift towards personalized medicine has had a profound impact on the market for Surface Guided Radiation Therapy (SGRT) devices.
SGRT devices offer an unparalleled level of precision in radiotherapy, which plays a crucial role in the personalized treatment of cancer patients. By utilizing real-time imaging and monitoring, these devices empower healthcare professionals to administer radiation doses that are precisely tailored to the dimensions and location of a patient's tumor. This targeted approach minimizes the potential damage to surrounding healthy tissues, enhancing the overall efficacy and safety of radiation therapy.
As the healthcare industry increasingly embraces personalized medicine, there has been a surge in the demand for SGRT devices. These innovative technologies enable the delivery of individualized and targeted radiation therapy, aligning with the growing need for more precise and effective treatment options. With the rise of personalized medicine, SGRT devices have become an indispensable tool in the arsenal of healthcare professionals, revolutionizing the way cancer patients receive tailored and optimized radiation therapy.
Segmental Insights
Device Type Insights
Based on the category of device type, the fixed segment emerged as the dominant player in the global market for Surface Guided Radiation Therapy (SGRT) Devices in 2022. Fixed SGRT devices have greatly benefited from recent technological advancements, revolutionizing the field of radiation therapy. These devices not only incorporate state-of-the-art imaging technologies but also utilize advanced algorithms and machine learning capabilities. This combination enables real-time visualization of the patient's surface during treatment, ensuring precise and accurate delivery of radiation. The high-tech features of fixed SGRT devices have made them the preferred choice in numerous healthcare settings, solidifying their dominance in the market.
Fixed SGRT devices offer an unparalleled level of precision in treating cancerous tumors. By leveraging sophisticated imaging and monitoring systems, these devices can precisely deliver radiation doses that are meticulously tailored to the exact dimensions and characteristics of a patient's tumor. This personalized approach ensures that healthy tissues are spared while targeting cancer cells with exceptional accuracy. The ability to provide such personalized and precise treatment is a significant driving force behind the widespread adoption of fixed SGRT devices in the medical community.
Application Insights
The breast cancer segment is projected to experience rapid growth during the forecast period. Breast cancer is the most common cancer among women worldwide, contributing significantly to the overall global cancer burden. This high incidence rate has led to an increased demand for effective treatment modalities like Surface Guided Radiation Therapy (SGRT). SGRT offers a highly precise form of radiotherapy, leveraging advanced imaging technology to ensure accurate delivery of radiation doses tailored to the exact dimensions and location of a patient's tumor. This level of precision not only maximizes the effectiveness of treatment but also minimizes damage to surrounding healthy tissues, resulting in improved patient outcomes.
SGRT has emerged as a preferred choice for breast cancer treatment due to its exceptional precision and potential for improved outcomes. By utilizing real-time imaging during treatment, SGRT allows healthcare professionals to continuously monitor and adjust radiation delivery based on any patient or tumor movement. This dynamic approach ensures that the radiation is consistently targeted at the tumor, enhancing treatment efficacy while minimizing the risk of unnecessary exposure to healthy tissues. The integration of SGRT into breast cancer treatment has revolutionized the field, offering a precise and personalized approach that optimizes therapeutic benefits.
Furthermore, the utilization of deep inspiration breath-hold (DIBH) techniques in SGRT for breast cancer treatment has further enhanced its dominance in this segment. By instructing patients to hold their breath in a deep inspiration phase during radiation delivery, DIBH techniques effectively increase the distance between the heart and the breast. This reduction in proximity significantly decreases the amount of radiation that reaches the heart, subsequently reducing the risk of heart damage during left-sided breast cancer radiation therapy. The combination of DIBH techniques with the precision of SGRT devices not only improves the safety of treatment but also enhances its overall effectiveness.
Regional Insights
Europe emerged as the dominant player in the Global Surface Guided Radiation Therapy (SGRT) Devices Market in 2022, holding the largest market share in terms of value. Europe is renowned for its exceptional healthcare systems, which are globally recognized for their cutting-edge technologies and highly skilled healthcare professionals. The advanced infrastructure present in Europe enables the swift adoption and integration of innovative medical devices like SGRT, further solidifying Europe's dominance in the healthcare market.
Moreover, Europe experiences a relatively high incidence rate of cancer, particularly with breast cancer being the most prevalent type among women. This alarming prevalence has resulted in an ever-growing demand for effective treatment methods, such as SGRT, which offers promising outcomes.
One of the key reasons behind Europe's success in the healthcare field is its strong emphasis on research and development. Significant investments are continually being made to develop new and improved treatment methods. This unwavering focus on innovation has led to remarkable advancements in SGRT technology, bolstering Europe's position fron as a frontrunner in the healthcare market and serving as a testament to its commitment to providing cutting-edge healthcare solutions.
Recent Development
- In June 2021, C-RAD strengthened its position inIndia by opening an office in Delhi. This has been done in order to meet thegrowing demand and strengthen their products positioning in the South Asiaregion.
Key Market Players
- Vision RTLtd.
- C-RAD AB
- VarianMedical Systems Inc
- BrainLabAG
- KlarityMedical
- MirionTechnologies, Inc.
- Elekta AB
- SurfaceImaging Solutions Limited
- CivcoMedical Instruments Co. Inc.
- AccurayInc
| By Device Type | By Application | By End User | By Region |
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