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Radiotherapy Market Worth USD 6.8 billion | Leading Players are Varian Medical Systems, Elekta, Accuray

· Medical Devices,Healthcare

Over the last decade, the radiotherapy devices market has seen significant technological advancements. These advancements have helped in the development of more effective, low-cost, and easy-to-use radiotherapy products with improved and precise radiation dose delivery to offer increased efficiency in targeting tumors. The advancement from 2D to 3D conformal radiotherapy with real-time imaging has enabled high conformity of radiation to the target (with minimal exposure to normal tissue) and dose escalation with improved tumor control.

What the market looks like?
The radiotherapy market is projected to grow from an estimated USD 5.6 billion in 2018 to USD 6.8 billion by 2023, at a CAGR of 4.1%.
Based on type, the radiotherapy market is segmented into external beam radiotherapy, internal beam radiotherapy/brachytherapy, and systemic radiotherapy. The external beam radiotherapy segment is expected to grow at the highest CAGR during the forecast period. Growth in this segment can primarily be attributed to the reduced risk of radiation exposure in external beam radiotherapy and the increased precision and accuracy of tumor targeting in this therapy.
Download PDF Brochure: Radiotherapy Market
What drives the market?
The growth of the global market for Radiotherapy is primarily influenced by the following factors:
1. Technological Advancements
2. Rising Prevalence of Cancer
3. Increasing Number of Conferences and Symposia Focusing on Spreading Awareness About the Benefits of Radiotherapy
4. Growing Use of Particle Therapy for Cancer Treatment
5. Emerging Markets
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.
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