Radiotherapy Market | Cancer Treatment Driving Growth Globally

The study involved four major activities to estimate the current market size for radiotherapy market . Exhaustive secondary research was done to collect information on the market and its different subsegments. The demand side of this market is characterized by the increasing awareness about minimally invasive cancer treatment options and the global rise in the prevalence of cancer. The supply side is characterized by advancements in technology.

Objectives Of Study:

# To define, describe, and forecast the global radiotherapy market on the basis of type, product type, application, end user, and region

# To provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, and trends) influencing the growth of the global radiotherapy market

# To strategically analyze the micromarkets with respect to individual growth trends, future prospects, and contributions to the global radiotherapy market

# To analyze the opportunities in the global radiotherapy industry for key stakeholders and provide details of the competitive landscape for market leaders

# To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa)

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Market Size Estimation:

Both top-down and bottom-up approaches were used to estimate and validate the total size of the radiotherapy market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

# The key players in the industry and markets have been identified through extensive secondary research

# The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes

# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources

Factors Driving Market Growth:

Market growth 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.

Global Market Scenario:

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%

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Recent Developments in Global Radiotherapy Market:

# In 2017, Mitsubishi Electric signed an agreement to transfer its particle therapy systems business to Hitachi and integrate into one entity.

# In 2017, Varian Medical Systems opened its new facility in Jundiai, Brazil. This expansion is aimed to increase access to advanced radiotherapy treatment in the country.

# In 2016, Varian Medical Systems launched an innovative treatment platform-Halcyon Treatment System. The product simplifies treatment delivery with high-quality plans delivered at significantly increased speeds.