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Growth in global Radiotherapy Market is largely driven by factors such as technological advancements, the rising prevalence of cancer, the increasing number of conferences and symposia focusing on spreading awareness about the benefits of radiotherapy, and the growing use of particle therapy for cancer treatment. The emerging markets, growing government and private investments to meet the increasing demand for cancer treatment, and the improving reimbursement scenario are expected to present a wide range of growth opportunities for market players.
This report studies the radiotherapy market based on type, product type, application, end user, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions (and the respective countries in these regions).
Varian Medical Systems, Inc. (US) are Elekta (Sweden) are leading players in Radiotherapy Market.
Other players in this market include Ion Beam Applications SA (Belgium), ViewRay, Inc. (US), IsoRay Medical, Inc. (US), Hitachi Ltd. (Japan), Panacea Medical Technologies Pvt. Ltd. (India), Provision Healthcare (US), Mevion Medical Systems, Inc. (US), Sumitomo Heavy Industries, Ltd. (Japan), Optivus Proton Therapy, Inc. (US), P-cure Ltd. (Israel), Theragenics Corporation (US), and C.R.Bard, Inc. (US).
The analysis of the market developments between 2015 and 2018 revealed that several growth strategies such as product launches and enhancements and strategic acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the radiotherapy market. Among these business strategies, product launches and approvals were the most widely adopted growth strategies by market players.
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Varian Medical Systems (US) have adopted inorganic strategies such as agreements, partnerships, collaborations, and contracts to enhance its market presence. The company is also focused on providing training and conducting workshops to increase the adoption of its products. For example, in 2018, the company participated in the American Brachytherapy Society Annual Meeting held in San Francisco, CA, US, to demonstrate its comprehensive portfolio of advanced brachytherapy solutions.
Elekta (Sweden) offers an extensive range of products, including radiosurgery & brachytherapy solutions and radiotherapy systems. It has a strong presence and wide industry coverage in North America, Europe, and other regions. During the last three years, the company has significantly invested in R&D activities. In 2017, the R&D expenses accounted for 11.9% (USD 37 million) of the company’s total revenue.
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