Report Overview

Global Radiotherapy Market- Industry Trends & Forecast Report 2027

The global radiotherapy market was worth USD 5.7 billion in 2020 and is further projected to reach USD 7.7 billion by the year 2027, growing at a CAGR of 4.5% during the forecast period. The high and growing prevalence of cancer worldwide is fueling the demand for cancer treatment, further propelling the demand for radiotherapy for treatment. With more than 19.3 million cancer cases and 10 million deaths in 2020 alone, the market for radiotherapy is estimated to flourish during the forecast period.

Source: BlueWeave Consulting

Global Radiotherapy Market- Overview

Radiotherapy or radiation therapy is a cancer treatment procedure that uses high doses of radiation to kill or prevent the growth of cancer cells. This procedure is used for both curing and shrinking early-stage cancer. Radiotherapy decreases tumors that may have developed prior to surgery as part of pre-operative surgery. Moreover, adjuvant therapy helps prevent cancer from returning following surgery. External beam radiation therapies in cancer patients are often performed with equipment such as the medical linear accelerator (LINAC).

Global Radiotherapy Market Forecast and Trends

Growth Drivers

Increasing Prevalence of Cancer

The prevalence of cancer is increasing at a very high rate across the globe. According to GLOBOCAN, there were 19.3 million cancer cases and 10 million cancer-related deaths worldwide in 2020. According to the National Cancer Institute, the number of cancer cases is expected to increase to 29.5 million annually and there will be around 16.4 million deaths related to it. As a result, the demand for radiotherapy is increasing due to the increase in cancer diagnosis and treatment. Obesity and aging are termed major risk factors for such an increasing rate of cancer.

Innovations by Biomedical Companies in Cancer Treatment

Companies in the biomedical industry have been investing significant amounts in R&D activities to improve radiotherapy procedures. For example, efforts are being made in developing radiopharmaceuticals, an emerging medicine that is designed to flow through the blood and deliver radiation to the exact location of the tumor without harming healthy cells. Moreover, biomedical companies are adopting the use of innovative technologies such as real-time and cloud-based software which offers a wide range of capabilities, such as real-time image-guided adaptive radiotherapy technologies, fixed beam radiotherapy treatment units, and much more.

Restraints

Side Effects of Radiation Therapy

Radiation therapy is one of the most common treatments for curing cancer and preventing the spread of the tumor. This process involves high doses of radiation for killing cancer cells. Radiation therapy, on the other hand, has a number of side effects that, in the long run, can be harmful. Additionally, radiation therapy patients may experience weariness and changes in their skin. They may also face headaches, nausea, vomiting, hearing loss, skin and scalp changes, etc. Furthermore, there is a substantial risk of harming healthy cells throughout the radiotherapy process. Such factors may restrict the growth of the radiation therapy market.

Impact of COVID-19 on Global Radiotherapy Market

The COVID-19 pandemic has had a severe impact on the global radiotherapy market. This is because the number of patients receiving radiation reduced considerably due to nationwide lockdowns imposed by several countries to curb the spread of the virus. Several studies revealed that cancer patients were more at risk of contracting the deadly coronavirus as compared to regular patients. Therefore, such patients were avoiding their visits to healthcare facilities for the fear of getting infected by the virus. Furthermore, the number of cancer diagnoses declined as a result of the virus outbreak, which adversely affected the global radiotherapy market.

Global Radiotherapy Market - By Product

Based on products, the global radiotherapy market is segmented into internal beam radiotherapy/brachytherapy products, external beam radiotherapy (EBRT) products, and systemic radiotherapy. The demand for external beam radiotherapy products is very prominent in radiotherapy procedures, and therefore, this segment holds the largest market share. The EBRT product segment can further be classified into linear accelerators, conventional linear accelerators, stereotactic advanced electron/cobalt-60 linear accelerators, particle therapy systems, and conventional cobalt-60 tele therapy units. Among these, the demand for linear accelerators is currently the highest.

Global Radiotherapy Market - By Procedure

Based on procedures, the global radiotherapy market is segmented into external beam radiotherapy, internal beam radiotherapy/brachytherapy, image-guided radiotherapy, and systemic radiotherapy. The external beam radiotherapy segment accounts for the largest market share. It uses external sources of ionizing radiation on the patient’s tumor. This technique is the most common type of radiation therapy and is increasingly being used during the treatment of breast and lung cancer. Brachytherapy, also known as internal beam radiotherapy, is also gaining significant traction and is estimated to grow at a high CAGR during the forecast period.

Global Radiotherapy Market - Regional Insights

Geographically, the global radiotherapy market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among all the regions, North America dominates the market with the highest demand for radiotherapy. The prevalence of breast, lung, and prostate cancer in people in Northern America is estimated at 1.9 million cases, causing a severe demand for radiotherapy in this region. Furthermore, favorable reimbursement policies and extensive research and development activities in cancer treatment are also influencing the the growth of radiotherapy market in North America.

Competitive Landscape

The leading market players in the global Radiotherapy market are Accuray Incorporated, Hitachi Ltd., Canon Medical Systems Corporation, IBA Worldwide, Varian Medical Systems, Inc., Becton, Dickinson And Company, Icad, Inc., Elekta AB, Siemens Healthineers, Panacea Medical Technologies Pvt. Ltd., Eckert & Ziegler, Zeiss Group, GE Healthcare, Viewray, Inc., Ion Beam Applications, Sumitomo Heavy Industries Ltd., Mirada Medical, Sensus Healthcare, Isoray, and other prominent players.

The industry participants invest significantly towards research and development activities for expanding their product’s efficiency and minimizing its side effects. The market players have also been engaging in competitive strategies like partnerships, mergers& acquisitions, collaboration, with other biotechnology companies as well as research institutes for product approvals and launches.

Recent Developments

• In July 2021, Elekta, a Swedish radiotherapy company announced its collaboration with scientists at the Netherlands Cancer Institute and University of Amsterdam to explore the use of Artificial Intelligence (AI) for delivering personalized therapy to patients.
• In June 2021, Nanobiotix, a clinical biotechnology company, announced the initiation of a new phase I study for the evaluation of NBTXR3 activated by radiation therapy (RT) for patients with non-small cell lung cancer (NSCLC) amenable to re-irradiation.

Scope of the Report

By Product

• Internal Beam Radiotherapy/Brachytherapy Products

1. Seeds
2. Applicators
3. Afterloaders
4. Iort Systems

• External Beam Radiotherapy Products

1. Linear Accelerators
2. Conventional Linear Accelerators
3. Stereotactic Advanced Electron/Cobalt-60 Linear Accelerators
4. Particle Therapy Systems
5. Conventional Cobalt-60 Teletherapy Units

• Systemic Radiotherapy

1. Iobenguane (I-131)
2. Samarium-153
3. Rhenium-186
4. Other Systemic Radiotherapy Products

By Application

• Prostate Cancer
• Penile Cancer
• Colorectal Cancer
• Breast Cancer
• Gynecological Cancer
• Lung Cancer
• Cervical Cancer
• Head & Neck Cancer
• Other Cancers

By Procedure

• External Beam Radiotherapy
• Image-Guided Radiotherapy

1. Stereotactic Therapy
2. Particle Therapy
3. Intensity-Modulated Radiotherapy
4. 3D Conformal Radiotherapy

• Internal Beam Radiotherapy/Brachytherapy

1. High-Dose-Rate Brachytherapy
2. Low-Dose-Rate Brachytherapy
3. Pulsed-Dose-Rate Brachytherapy

• Systemic Radiotherapy

1. Intravenous Radiotherapy
2. Oral Radiotherapy
3. Instillation Radiotherapy

By End-User

• Hospitals
• Independent Radiotherapy Centers

By Region

• North America
• Europe
• Asia-Pacific (APAC)
• Latin America (LATAM)
• Middle-East & Africa (MEA)

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
   2. Methodology
   3. Regional Split of Primary & Secondary Research
   4. Secondary Research
   5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
   6. Market Size Estimation
   7. Assumptions for the Study
   8. Market Breakdown & Data Triangulation
3. Executive Summary
4. Industry Insight and Growth Strategy
   1. Value Chain Analysis
   2. DROC Analysis
      1. Market Drivers
         1. Increasing Prevalence Of Cancer
         2. InnovationsBy Biomedical Companies In Cancer Treatment
      2. Market Restraints
         1. Side Effects Of Radiation Therapy
      3. Market Challenges
         1. Negative Influence of the COVID-19 Pandemic on Cancer Diagnosis and Treatment
      4. Market Opportunity
         1. Favorable Regulatory And Reimbursement Policies For Cancer Treatment
         2. Increasing Breast Cancer Prevalence
   3. Recent Developments
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
5. Global Radiotherapy Market Overview
   1. Market Estimates & Forecast by Value, 2017-2027
   2. Market Share & Forecast, By Segment
      1. By Product
         1. Internal Beam Radiotherapy/Brachytherapy Products
            1. Seeds
            2. Applicators
            3. Afterloaders
            4. Iort Systems
         2. External Beam Radiotherapy Products
            1. Linear Accelerators
            2. Conventional Linear Accelerators
            3. Stereotactic Advanced Electron/Cobalt-60 Linear Accelerators
            4. Particle Therapy Systems
            5. Conventional Cobalt-60 Teletherapy Units
         3. Systemic Radiotherapy
            1. Iobenguane (I-131)
            2. Samarium-153
            3. Rhenium-186
            4. Other Systemic Radiotherapy Products
      2. By Application
         1. Prostate Cancer
         2. Penile Cancer
         3. Colorectal Cancer
         4. Breast Cancer
         5. Gynecological Cancer
         6. Lung Cancer
         7. Cervical Cancer
         8. Head & Neck Cancer
         9. Other Cancers
      3. By Procedure
         1. External Beam Radiotherapy
         2. Image-Guided Radiotherapy
            1. Stereotactic Therapy
            2. Particle Therapy
            3. Intensity-Modulated Radiotherapy
            4. 3D Conformal Radiotherapy
         3. Internal Beam Radiotherapy/Brachytherapy
            1. High-Dose-Rate Brachytherapy
            2. Low-Dose-Rate Brachytherapy
            3. Pulsed-Dose-Rate Brachytherapy
         4. Systemic Radiotherapy
            1. Intravenous Radiotherapy
            2. Oral Radiotherapy
            3. Instillation Radiotherapy
      4. By End-User
         1. Hospitals
         2. Independent Radiotherapy Centers
      5. By Region
         1. North America
         2. Europe
         3. Asia-Pacific (APAC)
         4. Latin America (LATAM)
         5. Middle-East & Africa (MEA)
6. North America Radiotherapy Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2017-2027
   2. Market Share and Forecast
      1. By Product
      2. By Application
      3. By Procedure
      4. By End-User
      5. By Country
         1. U.S.
         2. Canada
7. Europe Radiotherapy Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2017-2027
   2. Market Share and Forecast
      1. By Product
      2. By Application
      3. By Procedure
      4. By End-User
      5. By Country
         1. Germany
         2. U.K.
         3. France
         4. Italy
         5. Spain
         6. Russia
         7. Netherlands
         8. Rest of Europe
8. APAC Radiotherapy Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2017-2027
   2. Market Share and Forecast
      1. By Product
      2. By Application
      3. By Procedure
      4. By End-User
      5. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of APAC
9. LATAM Radiotherapy Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2017-2027
   2. Market Share and Forecast
      1. By Product
      2. By Application
      3. By Procedure
      4. By End-User
      5. By Country
         1. Mexico
         2. Brazil
         3. Rest of LATAM
10. MEA Radiotherapy Market Overview
    1. Market Size and Forecast
       1. By Value (USD Billion), 2017-2027
    2. Market Share and Forecast
       1. By Product
       2. By Application
       3. By Procedure
       4. By End-User
       5. By Country
          1. Saudi Arabia
          2. UAE
          3. South Africa
          4. Rest of MEA
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis (2020)
    3. Competitive Benchmarking by Operating Parameters
12. Impact of COVID-19 on Global Radiotherapy Market
13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. Accuray Incorporated
    2. Hitachi Ltd.
    3. Canon Medical Systems Corporation
    4. IBA Worldwide
    5. Varian Medical Systems, Inc.
    6. Becton, Dickinson And Company
    7. Icad, Inc.
    8. Elekta AB
    9. Seimens Healthineers
    10. Panacea Medical Technologies Pvt. Ltd.
    11. Eckert &Ziegler
    12. Zeiss Group
    13. GE Healthcare
    14. Viewray, Inc.
    15. Ion Beam Applications
    16. Sumitomo Heavy Industries Ltd.
    17. Mirada Medical
    18. Sensus Healthcare
    19. Isoray
    20. Other Prominent Players
14. Key Strategic Recommendations

List of Figures

Figure 1: Global Radiotherapy Market Segmentation

Figure 2: Global Radiotherapy Market Value Chain Analysis,

Figure 3: Company Market Share Analysis, 2020

Figure 4: Global Radiotherapy Market Size, By Value (USD Billion), 2017-2027

Figure 5: Global Radiotherapy Market Share (%), By Product, By Value, 2017-2027

Figure 6: Global Radiotherapy Market Share (%), By Application, By Value, 2017-2027

Figure 7: Global Radiotherapy Market Share (%), By Procedure, By Value, 2017-2027

Figure 8: Global Radiotherapy Market Share (%), By End User, By Value, 2017-2027

Figure 9: Global Radiotherapy Market Share (%), By Region, By Value, 2017-2027

Figure 10: North America Radiotherapy Market Size, By Value (USD Billion), 2017-2027

Figure 11: North America Radiotherapy Market Share (%), By Product, By Value, 2017-2027

Figure 12: North America Radiotherapy Market Share (%), By Application, By Value, 2017-2027

Figure 13: North America Radiotherapy Market Share (%), By Procedure, By Value, 2017-2027

Figure 14: North America Radiotherapy Market Share (%), By End User, By Value, 2017-2027

Figure 15: North America Radiotherapy Market Share (%), By Country, By Value, 2017-2027

Figure 16: Europe Radiotherapy Market Size, By Value (USD Billion), 2017-2027

Figure 17: Europe Radiotherapy Market Share (%), By Product, By Value, 2017-2027

Figure 18: Europe Radiotherapy Market Share (%), By Application, By Value, 2017-2027

Figure 19: Europe Radiotherapy Market Share (%), By Procedure, By Value, 2017-2027

Figure 20: Europe Radiotherapy Market Share (%), by End User, By Value, 2017-2027

Figure 21: Europe Radiotherapy Market Share (%), By Country, By Value, 2017-2027

Figure 22: Asia-Pacific Radiotherapy Market Size, By Value (USD Billion), 2017-2027

Figure 23: Asia-Pacific Radiotherapy Market Share (%), By Product, By Value, 2017-2027

Figure 24: Asia-Pacific Radiotherapy Market Share (%), By Application, By Value, 2017-2027

Figure 25: Asia-Pacific Radiotherapy Market Share (%), By Procedure, By Value, 2017-2027

Figure 26: Asia-Pacific Radiotherapy Market Share (%), By End User, By Value, 2017-2027

Figure 27: Asia-Pacific Radiotherapy Market Share (%), By Country, By Value, 2017-2027

Figure 28: Latin America Radiotherapy Market Size, By Value (USD Billion), 2017-2027

Figure 29: Latin America Radiotherapy Market Share (%), By Product, By Value, 2017-2027

Figure 30: Latin America Radiotherapy Market Share (%), By Application, By Value, 2017-2027

Figure 31: Latin America Radiotherapy Market Share (%), By Procedure, By Value, 2017-2027

Figure 32: Latin America Radiotherapy Market Share (%), By End User, By Value, 2017-2027

Figure 33: Latin America Radiotherapy Market Share (%), By Country, By Value, 2017-2027

Figure 34: Middle East & Africa Radiotherapy Market Size, By Value (USD Billion), 2017-2027

Figure 35: Middle East & Africa Radiotherapy Market Share (%), By Product, By Value, 2017-2027

Figure 36: Middle East & Africa Radiotherapy Market Share (%), By Application, By Value, 2017-2027

Figure 37: Middle East & Africa Radiotherapy Market Share (%), By Procedure, By Value, 2017-2027

Figure 38: Middle East & Africa Radiotherapy Market Share (%), By End User, By Value, 2017-2027

Figure 39: Middle East & Africa Radiotherapy Market Share (%), By Region, By Value, 2017-2027

List of Tables

Table 1: Global Radiotherapy Market Size, By Product, By Value, 2017-2027

Table 2: Global Radiotherapy Market Size, By Application, By Value (USD Billion), 2017-2027

Table 3: Global Radiotherapy Market Size, By Procedure, By Value (USD Billion), 2017-2027

Table 4: Global Radiotherapy Market Size, By End User, By Value (USD Billion), 2017-2027

Table 5: Global Radiotherapy Market Size, By Region, By Value (USD Billion), 2017-2027

Table 6: North America Radiotherapy Market Size, By Product, By Value (USD Billion), 2017-2027

Table 7: North America Radiotherapy Market Size, By Application, By Value (USD Billion), 2017-2027

Table 8: North America Radiotherapy Market Size, By Procedure, By Value (USD Billion), 2017-2027

Table 9: North America Radiotherapy Market Size, By End User, By Value (USD Billion), 2017-2027,

Table 10: Europe Radiotherapy Market Size, By Product, By Value (USD Billion), 2017-2027

Table 11: Europe Radiotherapy Market Size, By Application, By Value (USD Billion), 2017-2027

Table 12: Europe Radiotherapy Market Size, By Procedure, By Value (USD Billion), 2017-2027

Table 13: Europe Radiotherapy Market Size, By End User, By Value (USD Billion), 2017-2027

Table 14: the Asia-Pacific Radiotherapy Market Size, By Product, By Value (USD Billion), 2017-2027

Table 15: the Asia-Pacific Radiotherapy Market Size, By Application, By Value (USD Billion), 2017-2027

Table 16: the Asia-Pacific Radiotherapy Market Size, By Procedure, By Value (USD Billion), 2017-2027

Table 17: the Asia-Pacific Radiotherapy Market Size, By End User, By Value (USD Billion), 2017-2027

Table 18: Latin America Radiotherapy Market Size, By Product, By Value (USD Billion), 2017-2027

Table 19: Latin America Radiotherapy Market Size, By Application, By Value (USD Billion), 2017-2027

Table 20: Latin America Radiotherapy Market Size, By Procedure, By Value (USD Billion), 2017-2027

Table 21: Latin America Radiotherapy Market Size, By End User, By Value (USD Billion), 2017-2027

Table 22: The Middle-East & Africa Radiotherapy Market Size, By Product, By Value (USD Billion), 2017-2027

Table 23: The Middle-East & Africa Radiotherapy Market Size, By Application, By Value (USD Billion), 2017-2027

Table 24: The Middle-East & Africa Radiotherapy Market Size, By Procedure, By Value (USD Billion), 2017-2027

Table 25: The Middle-East & Africa Radiotherapy Market Size, By End User, By Value (USD Billion), 2017-2027

Table 26: Accuray Incorporated Financial Analysis

Table 27: Accuray Incorporated Business Overview

Table 28: Hitachi Ltd. Financial Analysis

Table 29: Hitachi Ltd. Business Overview

Table 30: Canon Medical Systems Corporation Financial Analysis

Table 31: Canon Medical Systems Corporation Business Overview

Table 32: IBA Worldwide Financial Analysis

Table 33: IBA Worldwide Business Overview

Table 34: Varian Medical Systems, Inc. Financial Analysis

Table 35: Varian Medical Systems, Inc. Business Overview

Table 36: Becton, Dickinson And Company Financial Analysis

Table 37: Becton, Dickinson And Company Business Overview

Table 38: ICAD, Inc. Financial Analysis

Table 39: ICAD, Inc. Business Overview

Table 40: Elekta AB Financial Analysis

Table 41: Elekta ABBusiness Overview

Table 42: Seimens Healthineers Financial Analysis

Table 43: Seimens Healthineers Business Overview

Table 44: Panacea Medical Technologies Pvt. Ltd. Financial Analysis

Table 45: Panacea Medical Technologies Pvt. Ltd. Business Overview

Table 46: Eckert & Ziegler Financial Analysis

Table 47: Eckert & Ziegler Financial Analysis

Table 48: Zeiss GroupFinancial Analysis

Table 49: Zeiss GroupBusiness Overview

Table 50: GE HealthcareFinancial Analysis

Table 51: GE HealthcareBusiness Overview

Table 52: Viewray, Inc.Financial Analysis

Table 53: Viewray, Inc.Business Overview

Table 54: Ion Beam ApplicationsFinancial Analysis

Table 55: Ion Beam ApplicationsBusiness Overview

Table 56: Sumitomo Heavy Industries Ltd.Financial Analysis

Table 57: Sumitomo Heavy Industries Ltd.Business Overview

Table 58: Mirada MedicalFinancial Analysis

Table 59: Mirada MedicalBusiness Overview

Table 60: Sensus Healthcare Financial Analysis

Table 61: Sensus HealthcareBusiness Overview

Table 62: IsorayFinancial Analysis

Table 63: IsorayBusiness Overview