How big is the radiotherapy market today, and what are its future growth expectations?
The radiotherapy market size has grown strongly in recent years. It will grow from $7.38 billion in 2024 to $7.92 billion in 2025 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to an increase in the incidence of cancer cases globally, growth in demand for non-invasive cancer treatments, expansion of healthcare infrastructure, rise in adoption of personalized medicine, and rise in patient population requiring cancer treatment.
The radiotherapy market size is expected to see strong growth in the next few years. It will grow to $10.35 billion in 2029 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to increasing investment in advanced healthcare technologies, increasing focus on minimally invasive treatment options, rising demand for home-based healthcare solutions, increasing focus on quality assurance programs, and increasing global health initiatives addressing cancer care. Major trends in the forecast period include advancements in image-guided radiotherapy, advancements in particle therapy, development of novel brachytherapy techniques, advancements in cyberKnife technology, and integration of artificial intelligence in treatment planning.
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What have been the primary factors driving the radiotherapy market’s growth?
The increasing prevalence of cancer is expected to drive the growth of the radiotherapy market going forward. Cancer is a disease characterized by the uncontrolled growth of abnormal cells that can invade and spread to other parts of the body, arising in various tissues and organs and leading to diverse types and symptoms. The increasing prevalence of cancer can be attributed to factors such as an aging population, lifestyle changes including poor diet and sedentary behavior, high rates of tobacco and alcohol use, environmental pollution, and better diagnostic tools leading to more cases being detected. Radiotherapy plays a crucial role in cancer treatment by targeting and destroying cancerous cells with precision, helping to reduce tumor size and improve patient outcomes. For instance, in August 2024, according to the Macmillan Cancer Support, a UK-based charitable organization to support cancer patients, it was reported that, in 2024, more than 3 million people in the UK are living with cancer, this figure is projected to increase to 3.5 million by 2025, 4 million by 2030, and 5.3 million by 2040. Therefore, the increasing prevalence of cancer is driving the growth of the radiotherapy market.
What are the key segments within the radiotherapy market?
The radiotherapy market covered in this report is segmented –
1) By Therapy Type: External Beam Radiation Therapy, Internal Beam Radiation Therapy, Systemic Radiation Therapy
2) By Application: Prostate Cancer, Breast Cancer, Lung Cancer, Head And Neck Cancer, Colorectal Cancer, Gynecological Cancer, Cervical Cancer, Penile Cancer, Other Applications
3) By End-User: Hospitals And Diagnostic Laboratories, Cancer Treatment And Research Centers, Academic Research Organizations, Ambulatory Surgery Centers, Other End-Users
Subsegments:
1) By External Beam Radiation Therapy: Intensity-Modulated Radiation Therapy (IMRT), Stereotactic Body Radiation Therapy (SBRT), 3D Conformal Radiation Therapy (3D-CRT), Proton Beam Therapy, Image-Guided Radiation Therapy (IGRT), Volumetric Modulated Arc Therapy (VMAT)
2) By Internal Beam Radiation Therapy: Brachytherapy (High-Dose Rate), Brachytherapy (Low-Dose Rate), Intraoperative Radiation Therapy (IORT), Permanent Seed Implants
3) By Systemic Radiation Therapy: Radioisotope Therapy, Targeted Radionuclide Therapy, Radioimmunotherapy, Peptide Receptor Radionuclide Therapy (PRRT)
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Which key players are shaping the radiotherapy market?
Major companies operating in the radiotherapy market are Hitachi Ltd., Koninklijke Philips N.V., GE Healthcare Technologies Inc., Sumitomo Heavy Industries Ltd., Varian Medical Systems Inc., Elekta AB, Accuray Incorporated, Ion Beam Applications S.A, Canon Medical Systems Corporation, RefleXion Medical Inc., Mevion Medical Systems Inc., Nordion Inc., Theragenics Corporation, RaySearch Laboratories AB, MIM Software Inc., Vision RT Ltd., Sun Nuclear Corporation, Provision Healthcare LLC, Panacea Medical Technologies Pvt. Ltd., Optivus Proton Therapy Inc., Perspective Therapeutics Inc., GT Medical Technologies Inc., ProTom International Inc.
How will emerging trends drive the radiotherapy market throughout the forecast period?
Major companies operating in the radiotherapy market are focusing on developing innovative technologies, such as developing image-guided radiotherapy (IGRT), to enhance the precision and effectiveness of treatments, improve patient outcomes, and minimize damage to surrounding healthy tissues. Image-guided radiotherapy (IGRT) uses advanced imaging tools to ensure precise tumor targeting during radiation treatments, improving accuracy by tracking and adjusting the tumor’s position in real-time. For instance, in May 2022, Elekta AB, a Sweden-based medical technology company, launched the Elekta Esprit, a next-generation radiosurgery system that significantly enhances the capabilities of stereotactic radiosurgery. The Elekta Esprit incorporates a variety of innovations within a single platform, providing superior visualization and remote accessibility for treatment teams. It allows for flexible workflow options, accommodating single session, fractionated, adaptive, or staged protocols, all designed to ensure ease of use and efficiency in clinical settings. With an accuracy of less than 0.3 mm, the system is capable of treating even the most challenging targets while minimizing damage to surrounding healthy tissues.
How do regional factors impact the radiotherapy market, and which region is the largest contributor?
North America was the largest region in the radiotherapy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the radiotherapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Radiotherapy Market Report 2025 Offer?
The radiotherapy market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Radiotherapy refers to a medical treatment that uses high doses of radiation to destroy cancer cells and shrink tumors. It is used for managing various types of cancers, either as a standalone therapy or in combination with surgery and chemotherapy.
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