The treatment of disease with ionizing radiation is known as radio therapy or radiation therapy. Radiotherapy use high-energy rays to treat disease, this therapy can be externally. Basically radiotherapy works for destroying cancer cells in the area that’s been affected; at the time of treatment usually normal cells can also be damaged by radiotherapy. Normal cells can recover after radiotherapy then cancer cells, as these cancer cells cannot repair themselves after radiotherapy. G Global radiotherapy device market is expected to grow at a CAGR of 6.8% during the forecast period of 2016-2023. The key trends for the global radio therapy market are various technological advancements such as stereotactic body radiation therapy, advancements in proton therapy in the field of radiotherapy and rising adoption of key trending innovation of pencil bar scanning for cancer treatments , it has the ability to treat complex tumor cells while avoiding healthy tissues and critical structures. Pencil bar scanning is also known as spot scanning. The major driving factors for the radiotherapy market are rising incidence and prevalence of cancer, rising technological advancements in the field of radiotherapy, growing geriatric population as persons over 65 years reported for 60% of newly diagnosed malignancies and 70% of all cancer deaths, rising adoption of radiotherapy devices, procedures and increasing number of conferences and symposia focusing on spreading awareness about the benefits of radiotherapy. The key restraining factors that affect the growth of global radiotherapy device market are lack of adequate healthcare infrastructure and lack of trained personnel. Apart from this, the major challenges present in the market are difficulties in visualizing tumors during radiation procedures and affordability and accessibility of treatment. However, to overcome these market challenges, key opportunities for the global radiotherapy device market are emerging markets and rising investments to meet the increased demand for cancer treatment.
Key driving factor for the global radiotherapy device market across the globe is rising incidence and prevalence of cancer. Cancer has a key influence on society and across the globe; factors that are responsible for causing cancer are genetic changes, radiations such as ultraviolet rays from sun, chemicals in tobacco smoke. According to the National Cancer Institute (NIH) in 2016 around 1685210 new cases of cancer were diagnosed in United States and 595690 people died from this disease. Thus rising incidence and prevalence of cancer will generate the need for radiotherapy treatments and procedure across the globe which grows the global radiotherapy device market across the globe.
Source: OBRC analysis
The report on global radiotherapy device market is classified on the basis of product, type, applications and end-user.
Products are classified further into:
- External Beam Radiotherapy
- Internal Beam Radiotherapy/Brachytherapy
- Systemic Radiotherapy
Types are classified further into:
- External Beam Radiotherapy
- Internal Beam Radiotherapy
- Systemic Radiotherapy
Applications are classified further into:
- External Beam Radiation Therapy
- Internal Beam Radiotherapy/Brachytherapy
End-Users are classified further into:
- Hospitals
- Cancer Research Institutes
- Ambulatory & Radiotherapy Centers
The revenue for the above, application and end-user is specific to the Global Radiotherapy device market. However, the total revenue of these application and end-user in general has been excluded from the scope of the report.
The global radiotherapy device market has been geographically segmented into:
- North America (US & Canada)
- Asia Pacific (China, India, Japan, Australia, Rest of Asia Pacific)
- Europe (UK, France, Germany, Rest of Europe)
- Rest of the World (RoW)
Geographically, North America dominates the global radiotherapy device market in terms of revenue due to growing number of cancer cases, rising technological advancements in radiotherapy equipment, also increasing focus of key vendors on expanding their presence in North America. Moreover, Asia-Pacific is expected to be the fastest growing region. Factors responsible for the growth in this region are improvements in healthcare infrastructure, increasing aging population and rising number of cancer cases in this region.
The global radiotherapy device market is segmented on the basis of product, type, applications and end-user segment. On the basis of product segment, the market is further classified into External beam radiotherapy, internal beam radiotherapy/brachytherapy and systemic radiotherapy. On the basis of type, the market is classified into external beam radiotherapy, internal beam radiotherapy and systemic radiotherapy. On the basis of application, the market is classified into external beam radiation therapy and internal beam radiotherapy/brachytherapy. However, on the basis of end-user the global radiotherapy device market is classified into hospitals, cancer research institutes and ambulatory & radiotherapy centers.
Some of the leading market players within Global radiotherapy device market are:
- Varian Medical Systems, Inc.
- Mitsubishi Electric Corporation
- RaySearch Laboratories
- Mevion Medical Systems, Inc
- Ion Beam Applications(IBA)
- Others
Merger & acquisition, partnership, collaboration and product launch are some of the strategies used by companies within Global Radiotherapy market. Of these, collaboration, and merger & acquisition are primary strategies adopted by companies for increasing their market share.
For example: On 20 June, 2016, Varian Medical Systems launched Spot ON, a proton therapy for the treatment of cancer. Spot ON is the software which will deliver information about system deployments, information about new technology and research from clinicians.
Company profiling showcased within Global radiotherapy device market offers detailed analysis on company’s product portfolio, strategic initiatives, competitive landscape, market share and SCOT analysis.
Key Reason to buy the report:
- The report include market estimation forecast and analysis for the year 2016-2023
- The report points out scenarios that can drive, challenge, and restraint Global Radiotherapy device market.
- Company profiling within the report offers strategic initiatives, and market share analysis of major players within the market.
- The report offers snapshot on recent regulatory and government policies impacting market growth for the forecast period.
How we are different from others:
At OBRC, our reports offer an extensive portfolio through completed market analysis along with market share, market size, and market segmentation. The DROC’s for the markets are well thought out and researched after consulting with industry experts. Global radiotherapy device market showcases market analysis through models like investment vs. adoption, see saw analysis, and so on. The report also provides overview on product application, adoption and decision support within each segment. The company profiling for each major players within the market is showcased via SCOT analysis.
Key findings of the Global Radiotherapy market:
- Rising incidence and prevalence of cancer and rising adoption of radiotherapy devices and procedures are fuelling growth in global radiotherapy device market.
- North America is anticipated to hold the highest revenue share in 2016.
- Asia- Pacific is anticipated to be a fastest growing region due to rising number of cancer cases in this region, rapid growth in aging population and improvements in healthcare infrastructure.
- Increasing government support.
- Product launch is the key strategy adopted by the various market players of global radiotherapy device market.
- Hospital dominates the end-user segment.