Radiotherapy Market Growth Raise by Rising Prevalence of Cancer with a Noteworthy CAGR during 2019-2027
“Radiotherapy Market: Global Demand Analysis & Opportunity Outlook 2027”
The global radiotherapy market is segmented by product type into electron-emitting high-energy linear accelerators (LINAC), compact advanced radiotherapy systems, proton therapy, brachytherapy, systemic beam radiation therapy and others; by therapy type into external beam radiation therapy and internal beam radiation therapy; by end-user into hospitals, clinics, ambulatory surgical centers and others and by regions. The radiotherapy market is anticipated to mask a CAGR of 6.6% during the forecast period i.e. 2019-2027.
Increasing healthcare expenditure on the back of growing disposable income, rapid technological advancements along with high prevalence of cancer is expected to drive the radiotherapy market significantly across the globe. Further, expanding healthcare infrastructure accompanied with rising R&D activities is expected to propel the radiotherapy market during the forecast period.
With a well-developed healthcare sector across the region, North America radiotherapy market is panned to observe substantial growth due to 21.0% of cancer incidence rate across the region as per reported by WHO. The market in Europe is expected to induce a budding growth on the back of high cancer incidence rates contributing to 23.4% of the global incidences with a low patient density across the region as reported by the World Health Organization. Further, Asia Pacific is expected to drive demand and positively impact the growth of the market on account of increasing health expenditure across the countries such as India, China, Japan and others along with a high prevalence rate of cancer across the region. According to the reports of WHO, 57.3% of the cancer deaths were reported across Asia in 2018.
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High Prevalent Cancer Population
Rising number of present as well as geriatric population suffering from various types of cancers has been on a rise. The WHO reported that cancer was the second leading cause of death around the globe with an estimated 9.6 million deaths over the year 2018. It is estimated that around 1 in 6 deaths globally, occurs due to cancer. The International Agency for Research on Cancer (IARC) estimated that the global cancer burden rose to 18.1 million new cases in the year 2018. The WHO reported that the lung cancer and the female breast cancer were the leading types of cancer in terms of the number of new cases around the world; with approximately 2.1 million diagnoses estimated in 2018, contributing about 11.6% of the total cancer incidence burden. Colorectal cancer with 10.2% of the total cases is the third most commonly diagnosed cancer, prostate cancer as the fourth and stomach cancer as the fifth most identified type of cancer around the world. This increase in the prevalence rate of different types of cancers is estimated to boost the growth of the radiotherapy market over the forecast period.
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However, the side effects of radiation therapy can range from dry mouth, mouth and gum sores, difficulty while swallowing, stiffness in the jaw, nausea, hair loss to diarrhea, rectal bleeding, lowered sperm counts, changes in menstruation, infertility and others. These factors are estimated to restrain the growth of radiotherapy market over the forecast period.
The report titled “Global Radiotherapy Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global radiotherapy market in terms of market segmentation by product type, by therapy type, by end-user and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global radiotherapy market which includes company profiling of Vision RT Ltd., Shenzhen GeneMDx Biotech. Co., Ltd., IntraOp Medical, Inc., Eckert & Ziegler, Theragenics Corporation, C.R. Bard, Inc., Varian Medical Systems, Inc., Accuray Incorporated, Nordion, Inc., IsoRay, Inc. and other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global radiotherapy market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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