London, June 22, 2020 (GLOBE NEWSWIRE) -- Cancer is among the major healthcare concerns for the healthcare systems across the world. While it is among one of the leading causes of deaths, the overall expenditure on cancer diagnostics and treatment is also one of the challenging issues for health systems across the world. As per the statistics, Cancer causes about 1 in every 6 deaths worldwide, which is more than AIDS, tuberculosis, and malaria combined. According to the WHO, cancer is the second leading cause of deaths globally. According to Global Cancer Observatory (GLOBOCAN), in 2012, about 14.1 million new cancer cases were diagnosed worldwide, which increased by ~28% to reach 18.1 million new cases in 2018 and claimed an estimated 9.6 million lives. Further, by 2040, the global cancer burden is expected to grow to 27.5 million new cancer cases and account for 16.3 million cancer deaths with simultaneous growth in aging population. The growing incidence and prevalence of cancer has led to greater demand for advanced therapies for cancer treatment. With advances in medical procedures such as radiotherapy, it is now possible to provide more accurate and targeted cancer treatment.
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Radiotherapy is the type of cancer radiation treatment that utilizes beams of higher energy to kill cancer cells. Radiation kills cancer cells by directly affecting the DNA or by indirectly making free radicals that diffuse towards the DNA of damaged cells and destroys them. As cancer cells do not have the ability to repair themselves in the same way as normal cells, the radiation treatment leads to complete destruction of tumor cells. Since its initial adoption, radiation therapy has come a long way from treatment planning based on orthogonal radiographs with large margins around tumors. Advances in imaging modalities and radiation planning software have further led to three-dimensional conformal radiotherapy with accurate lesion detection and targeting.
Technological variations and advancements in radiotherapy, such as IMRT, IGRT, and 3-DCRT have provided the ability to precisely conform doses only to the tumor and have minimized the need for fractionated treatments. Newer techniques, such as stereotactic body radiation therapy proved to be an effective radiotherapy technique with high radiation delivery and promising clinical outcomes. Further, proton and heavy ion therapy gained significant attraction as a breakthrough radiotherapy procedure as it reduces the radiation dose and reduces the toxicities as compared to traditional radiotherapy methods. In addition, researchers have also combined immunotherapy and radiotherapy to find the optimal radiation doses and balance the immunogenic effects caused due to radiation.
Further, in the future, genuine 3-D repositioning of the patient by 3-D matching would enable the clinicians to gain information about the anatomy of the target structure. Also, another goal in image guided radiotherapy is to achieve online re-planning to monitor and follow the tumor shrinkage and changes in the tumor structure during the procedure within short time. Moreover, the combination of radiation oncology with immunotherapy is expected to kill cancer cells by triggering immune response, halting the tumor growth as well as its reoccurrence.
The global radiotherapy market is expected to grow at a CAGR of 5.6% from 2019 to 2025 to reach $10.15 billion by 2025. The growth in this market is majorly driven by factors like growing awareness about the benefits of radiotherapy for cancer control and eradication, increasing incidence & prevalence of cancer, and technological advancements in the field of radiotherapy. However, the high cost and risks associated with the radiotherapy procedures, paucity of skilled healthcare professionals, and lack of advanced infrastructure facilities hinders the growth of this market.
The global radiotherapy market studied in this report is segmented on the basis of procedure (external beam radiotherapy, internal beam radiotherapy), product (radiotherapy devices, radiotherapy consumables & accessories, software, and services), technology {external beam radiotherapy (IMRT, IGRT, SRT, 3D-CRT, and particle therapy) and internal beam radiotherapy [brachytherapy (HDR Brachytherapy, LDR Brachytherapy, IGBT, PDR Brachytherapy) and Systemic Radiation Therapy (Intravenous Radiotherapy and Oral Radiotherapy)]}, application (prostate, brain, breast, lung, head & neck, colorectal, cervical, others), end user (hospitals, independent radiotherapy centers, and cancer research institutes), and geography.
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On the basis of procedure, the external beam radiotherapy segment commanded the largest share of the overall radiotherapy market in 2019. The major share of this segment is primarily attributed to higher installations of external beam radiotherapy equipment owing to its capabilities of precise radiation delivery, less damage to normal tissues even at high radiation doses, and continuous advances in existing products. Owing to these benefits, the adoption of external beam radiotherapy procedure, especially linear accelerator-based teletherapy units and proton therapy is consistently increasing globally, driving the growth of this market.
On the basis of product type, radiotherapy devices commanded the largest share of the overall radiotherapy market in 2019. Increasing demand for technologically advanced solutions for cancer treatment, increasing focus of key players on the development of new devices, and consistent technological advancements are the major factors driving the growth of the radiotherapy devices market.
On the basis of technology, the external beam radiotherapy market was majorly segmented into IMRT, IGRT, SRT, 3D-CRT, and particle therapy. Among these, IMRT segment commanded the largest share of the overall external beam radiotherapy market in 2019. The higher share and growth of IMRT is mainly attributed to its benefits of using multiple tiny beams of variable intensity, that enables radiation oncologists to use customized radiation beam suitable for the size and shape of the tumor, permitting higher tumor doses while minimizing the impact on healthy tissue.
On the basis of application, the breast cancer segment held the largest share of the overall radiotherapy market in 2019. Breast cancer is one of the key application areas of the radiotherapy market mainly due to growing incidence of breast cancer and increasing volume of diagnostic procedures and treatment for the disease. According to GLOBOCAN, breast cancer is the most common cancer affecting large proportion of female population. In 2018, 2,088,849 new breast cancer cases were reported globally, which is expected to increase by ~46% reaching 3,059,829 cases by 2040. Also, the breast cancer mortality is on the rise across the globe, reaching 991,904 deaths by 2040 from 626,679 deaths in 2018. Therefore, due to increasing breast cancer incidence and mortality, the demand for radiotherapy procedures for breast cancer treatment is expected to increase during the forecast period.
On the basis of end user, hospitals commanded the largest share of the overall radiotherapy market in 2019, primarily due to large pool of patients with cancer visiting the hospitals for diagnosis & treatment owing to their wide presence and easy accessibility to advanced medical treatments in hospitals. However, radiotherapy centers segment is estimated to grow at the fastest CAGR during the forecast period owing to increasing number of the radiotherapy centers across the globe and government investments towards building radiotherapy facilities in developing regions.
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Geographically, the global radiotherapy market is categorized into five major regions, namely, North America, Europe, Asia-pacific, Latin America, and the Middle East & Africa. In 2019, North America accounted for the largest share of the global radiotherapy market. Well-established healthcare system in the region comprising hospitals and radiotherapy centers, greater adoption of advanced technologies, high level of awareness and spending towards healthcare, growing incidence and prevalence of cancer, and high level of Medicare & Medicaid health insurance coverage are the key factors contributing to the largest share of North America in this market.
On the other hand, accelerated economic growth in many countries in the Asia-Pacific region has relatively increased the government focus on the healthcare sector in terms of increased investment to enhance accessibility to healthcare facilities and to build better healthcare infrastructure across public hospitals, which is driving the fastest growth in the Asia-Pacific region. The other key factors supporting the growth of radiotherapy market across this region include rising incidence and prevalence of cancer, rising awareness of various healthcare services and treatment options, growing number of middle-class population and their level of disposable income, increasing health insurance penetration, and growing aging population in the region.
The global radiotherapy market is consolidated in nature with top 3 key players holding majority of the global market in 2019. These companies are Varian Medical Systems, Inc., Elekta AB, and Accuray Incorporated. Other prominent companies operating in this market include C. R. Bard, Inc., Mevion Medical Systems, Inc., Hitachi, Ltd., ViewRay, Inc., Panacea Medical Technologies Pvt. Ltd., Isoray, Inc., Optivus Proton Therapy, Inc., P-Cure, Ltd., Provison Healthcare, LLC, Ion Beam Applications S.A., and Theragenics Corporation.
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Scope of the Radiotherapy Market Report:
Radiotherapy Market by Procedure
- External Beam radiotherapy
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- Linear Accelerator based Teletherapy
- Cobalt-60 based teletherapy
- Proton Therapy
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- Internal Beam Radiotherapy
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- Brachytherapy
- Systemic Radiotherapy
-
Radiotherapy Market by Product
- Radiotherapy Devices
-
- External beam radiotherapy systems
- Conventional Linear Accelerators (LINAC)
- Conventional Cobalt-60 Teletherapy units
- Advanced Stereotactic Radiotherapy Units (Linear Accelerator/Cobalt- 60 unit)
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- CyberKnife
- Gamma Knife
- TomoTherapy
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- Proton Therapy Systems
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- Cyclotron
- Synchrotron
- Synchrocyclotron
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- Internal Beam radiotherapy systems
- Brachytherapy
-
- Electronic Brachytherapy products
- Afterloaders
-
- Brachytherapy
- External beam radiotherapy systems
-
- Radiotherapy Consumables & Accessories
-
- Internal Beam Radiotherapy Consumables & Accessories
- Brachytherapy
-
- Brachytherapy Applicators
- Brachytherapy Seeds
-
- Brachytherapy
- Systemic Radiotherapy
- Iobenguane
- Samarium-153
- Rhenium-186
- Others
- Internal Beam Radiotherapy Consumables & Accessories
-
- Software
- Services
Radiotherapy Market by Technology
- External Beam Radiotherapy
- Intensity-Modulated Radiation Therapy (IMRT)
- Image-guided Radiation Therapy (IGRT)
- Stereotactic Radiation Therapy
- 3D Conformal Radiation Therapy
- Particle Therapy
- Internal Beam Radiotherapy
- Brachytherapy
- High Dose Rate Brachytherapy (HDR)
- Low Dose Rate Brachytherapy (LDR)
- Image-guided Brachytherapy (IGBT)
- Pulse Dose Rate Brachytherapy (PDR)
- Systemic Radiation Therapy
- Intravenous radiotherapy
- Oral Radiotherapy
- Brachytherapy
Radiotherapy Market by Application
- Breast Cancer
- Prostate Cancer
- Lung Cancer
- Brain Tumor
- Head & Neck Cancer
- Colorectal Cancer
- Cervical Cancer
- Others
Radiotherapy Market by End user
- Hospitals
- Independent Radiotherapy Centers
- Cancer Research Institutes
Radiotherapy Market by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- India
- Japan
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
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