Single Dose Radiotherapy Services Market estimated to register a CAGR of 6.1% during the forecast period of 2022 – 2030
In single-dose radiotherapy, a single dose of radiation is delivered directly to the tumor in a few minutes and is said to be a safe and effective method for treating men having low-risk prostate cancer. According to Future Market Insights (FMI), the demand for single-dose therapy is expected to rise considerably, enabling the market to surpass US$ 1.1 Bn by 2021. In the coming years the rising cases of breast cancer will support the expansion of the market.In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for single-dose radiotherapy. The report tracks the global sales of single-dose radiotherapy in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on radiotherapy services in general, and single-dose radiotherapy services in particular.
The increasing incidence of breast cancer and prostate cancer has necessitated innovation in single-dose radiotherapy. As per the Centers for Disease Control and Prevention (CDC), prostate cancer is the second most frequently occurring type of cancer in men above the age of 45 years and breast cancer is one of the leading types of cancer among women across the globe.
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Single Dose Radiotherapy offers advantages such as high precision, greater patient comfort, cost-effectiveness, and better cosmetic outcomes in the treatment of breast cancer and prostate cancer. It is also recognized as an extremely cost-effective treatment compared with other cancer treatments. These factors are driving the adoption of single-dose radiotherapy services for breast cancer and prostate cancer.
Increasing technological advancements in radiotherapy procedure for the treatment of breast cancer and prostate cancer have led to the surging adoption of single-dose radiotherapies in clinical practice associated with improved outcomes. Single-dose radiotherapy is recognized as an extremely cost-effective treatment compared with other cancer treatments.
Increasing investments in the market, increasing number of research and development projects, and favorable regulatory policies are some factors enabling growth in the single dose radiotherapy services market. For example various government organizations such as American Cancer Society is investing in research and development programs for development of single dose radiotherapy. Recently the American cancer society have funded almost 162 research programs with around $67 million to encourage breast cancer research activities.
The COVID-19 pandemic has changed the national healthcare significances and expenditure however this is considered to be a short-term impact on the single-dose radiotherapy services market. The single-dose radiotherapy services market is expected to experience short-term negative growth owing to a sharp reduction in the number of single-dose radiotherapy services adoption rate in developed and emerging countries.
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As a result of the continuing spread of COVID-19, various service providers are focusing on a novel approach to the treat pneumonia associated with COVID-19 using a single low dose of external beam radiation therapy which is known as Single Dose Radiation Therapy (SDRT). Previously various studies are reported regarding use of single small fraction of radiation to treat viral and bacterial pneumonia. Thus, scientists are believing that one small dose of radiotherapy can be effective for covid-19 treatment. This is providing an opportunity for single dose radiotherapy market to grow.
Key Takeaways from Single-Dose Radiotherapy Services Market Study
- Despite restricted growth amid COVID-19, the demand for single dose radiotherapy is expected to rise at nearly 5% in 2021
- As a result of increasing incidence of breast cancer, the U.S. will account for over 90% sales in North America
- Increasing focus on early diagnosis will enable the U.K. register 2.4% Y-o-Y growth in 2021
- Germany and France are expected to exhibit increasing demand to tackle concerns pertaining to rising incidence of cancer
- Increasing focus on research and development will drive growth in Japan and South Korea
“Rising prevalence along with increasing awareness regarding breast and prostate cancer and the importance of early diagnosis, besides favorable reimbursement will offer lucrative growth opportunities for service providers in the long term,” says the FMI Analyst
The global market is set to expand in the forecast period, due to the rising prevalence of breast cancer and prostate cancer globally and the adoption of single-dose radiotherapy. Leading organizations within the market are set to focus on research and development to offer early and precise diagnosis of the ailment, besides offering effective patient care.
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Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Global Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions and Exclusions
3. Market Background
3.1. Macro-Economic Factors
3.1.1. Global GDP Growth Outlook
3.1.2. Global Healthcare Expenditure Outlook
3.1.3. Growth of Healthcare Sector in Emerging Nations
3.2. Forecast Factors – Relevance & Impact
3.2.1. Global Increase in Healthcare Expenditure
3.2.2. Rising Prevalence of Breast Cancer
3.3. Market Dynamics
3.3.3. Opportunity Analysis
4. Market Context
4.1. Regulatory Scenario
4.2. Reimbursement Scenario
4.3. Treatment Regime
4.4. Therapy Adoption / Usage Analysis
4.5. Disease Epidemiology
4.6. Treatment Cost Analysis
5. COVID19 Crisis Impact Analysis