Global Radiation Therapy Market Size By Type (External Beam Radiation Therapy, Internal Radiation Therapy), By End-user (Hospitals, Specialty Clinics, Cancer Research Institutes), By Geographic Scope And Forecast

Radiation Therapy Market Size And Forecast

Radiation Therapy Market size was valued at USD 6.3 Billion in 2021 and is projected to reach USD 10.3 Billion by 2030, growing at a CAGR of 5.71% from 2023 to 2030.

Technology advancement has been the market’s main driver. The market is growing as a result of rising R&D activities, an increase in patients suffering from diseases like cancer, and the quick expansion of the healthcare sector in both developing and developed nations. The Global Radiation Therapy Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Radiation Therapy Market Definition

Radiation therapy, a type of cancer treatment, uses powerful energy beams to zap and kill cancer cells. Think of it like thiswhile they can use protons or other energy types, X-rays are the most common weapon of choice. When you hear someone say "radiation therapy," they're usually talking about external beam radiation therapy. This means the high-energy beams come from a machine outside your body and are aimed precisely at the cancer's location. But there's also brachytherapy (say "brak-e-THER-uh-pee"), where radiation is actually placed inside your body! Radiation works by damaging the DNA within cells, which controls how they divide and grow. The goal is to harm cancer cells, but unfortunately, healthy cells can get caught in the crossfire. Doctors try their best to minimize the damage to normal, healthy tissue.

Most of the time, your body's cells are pretty good at fixing damage caused by radiation. That's a good thing, because radiation therapy, which uses radiation to treat disease, is a common tool doctors use. In fact, it's used for over half of all cancer patients! But it's not just for cancer – sometimes, even benign (noncancerous) tumors can be helped with radiation. It's rarely used as the only treatment for cancer, though. More often, doctors use it alongside other treatments like chemotherapy to get rid of cancer cells, shrink a tumor before surgery (that's called neoadjuvant therapy), or keep any leftover cancer cells from growing after surgery (adjuvant therapy). And in cases of advanced cancer, radiation can really help reduce uncomfortable symptoms.

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External-beam radiation therapy? That's usually what folks get for radiation. It's where a machine outside your body zaps you with radiation. They can even treat big areas if they need to. This beam, usually from an x-ray or photon thing, comes from a machine called a linear accelerator, or linac for short. And get thisspecial computer programs actually shape and size the beam! This helps zap the tumor but avoids hurting good tissue around it. Most people get it every weekday for a few weeks. If you're getting radiation to the head, neck, or brain, they might use these special form-fitting supports or even a plastic mesh mask to keep you still, ensuring the beam hits the right spot every time.

Global Radiation Therapy Market Overview

Think of radiation therapy like using really strong ionizing radiation to zap cancer cells where they live, stopping them from multiplying. It's a common treatment, and the Radiation Therapy Market is expected to grow, mainly because we're seeing more and more cancer cases worldwide and folks are looking for less invasive ways to fight it. Consider thisthe National Cancer Institute (NCI) estimates that in 2020, there will be 1,806,590 new cancer diagnoses in the US alone, and sadly, 606,520 cancer-related deaths. That kind of reality is pushing the demand for radiation therapy up. Plus, companies are always innovating, so we'll probably see new and improved radiation therapy options hitting the market soon, thanks to cutting-edge technology.

Okay, so what's driving the Radiation Therapy Market? Well, it's largely thanks to cool new tech in radiation and, sadly, more people getting cancer. That's expected to really boost the market. Plus, folks are getting smarter about how radiation can help treat tumors, and more doctors are using radiotherapy to fight cancer. All good for growth! But, it's not all sunshine and roses. The nasty side effects from radiation therapy can hold things back. And let's be real, this treatment can be seriously expensive, especially for people in countries that aren't as wealthy.

The market may be limited by a lack of technical professionals with the necessary skills. The ability to operate radiation equipment for treating various chronic illnesses has been in short supply in healthcare facilities across the globe. Even though completely automated and semi-automated medical equipment have been developed, accurate treatment still requires professional medical intervention. The sector might be able to overcome the aforementioned difficulties with the support of significant efforts to offer training programs and scholarships.

Global Radiation Therapy MarketSegmentation Analysis

The Global Radiation Therapy Market is Segmented on the basis of Type, End-user, And Geography.

Radiation Therapy Market, By Type

• External Beam Radition Therapy
• Internal Radiation Therapy

When we look at the different types of radiation therapy, the market breaks down into External Beam Radiation Therapy and Internal Radiation Therapy. Now, it's expected that External Beam Radiation Therapy will really take the lead in the coming years. You see, EBRT is great because it lets doctors treat a specific area of the body with precision. It’s like hitting a target – focusing on the tissues and tumors that need treatment while keeping the rest of the body safe and sound. Plus, since more and more people are opting for outpatient care, EBRT has become a go-to radiation treatment in hospitals and clinics. There's a whole bunch of different EBRT techniques too, like stereotactic radiosurgery, 3D conformal radiation therapy (3D-CRT), helical tomotherapy, IGRT, and even intensity-modulated radiation therapy (IMRT).

Radiation Therapy Market, By End-user

• Hospitals
• Specialty Clinics
• Cancer Research Institutes

When we look at who's actually using this stuff – the End-users – the market breaks down into Hospitals, Specialty Clinics, and those crucial Cancer Research Institutes. And guess what? We're expecting those Cancer Research Institutes to really take the lead in the Radiation Therapy Market over the next few years. They're all racing to get the latest and greatest radiotherapy equipment so they can treat patients in the best way possible. Plus, with more funding coming in from both public and private sources, these research centers will be able to cook up even more innovative technologies, speeding up research and development in cancer diagnostics and therapies. It's a team effort, with pharmaceutical companies, healthcare providers, and even government organizations all pitching in to fight cancer on a global scale.

Radiation Therapy Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Okay, so when we look at where radiation therapy is used around the world, we can break it down by geographyNorth America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Right now, the APAC region – that's Asia Pacific – is leading the pack in terms of market share, and it's predicted to keep growing faster than anywhere else! Why is this happening? Well, we're seeing more government programs that are trying to get the word out about treatment options, plus a bigger need for those really complex therapies, and sadly, an increase in cancer cases. Countries like China, India, Japan, and South Korea are particularly focused on cancer management, which will only push radiation therapy forward. Governments are really stepping up, with international investments and initiatives aiming to make high-quality radiotherapy more accessible. For example, back in August 2022, the Apollo Proton Cancer Centre (APCC) in India and Ion Beam Applications (IBA) in Belgium partnered up to train medical pros in proton-based radiation therapy – pretty cool, right?

Key Players

The “Global Radiation Therapy Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Accuray Inc., Canon Medical Systems Incorporate, Elekta, Eckert & Ziegler, Hitachi, IBA, Mevion Medical Systems, RefleXion, Siemens Healthineers AG, Nordian, Isoray, and ViewRay Inc.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In June 2022, Biology-guided radiation therapy (BgRT) has been effectively used by RefleXion Medical for the treatment of cancer in all stages. To highlight the promise of cancer biology in expediting treatment planning and delivering individualized radiation therapy, the business conducted its first symposium.
• In August 2020, Varian Medical Systems, Inc. announced the acquisition by Siemens Healthcare GmbH for USD 16.4 billion.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Radiation Therapy Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in Global Radiation Therapy Market gauge the attractiveness of a certain sector, and assess investment possibilities.

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