Radiotherapy Market is predicted to reach USD 9.96 billion at a CAGR of 5.49% during the forecast period:

Market Research Future (MRFR) has published a cooked research report on the “Global Radiotherapy Market” that contains information from 2018 to 2030. The Radiotherapy market is estimated to register a CAGR of 5.49% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the global Radiotherapy market— Isoray Medical Inc., Mevion Medical Systems Inc., Optivus Proton Therapy Inc., Panacea Medical Technologies Pvt Ltd.

Market Highlights

The global Radiotherapy market is accounted to register a CAGR of 5.49% during the forecast period and is estimated to reach USD 9.96 billion by 2030.

The radiotherapy market involves the global industry dedicated to the development, production, and distribution of radiotherapy equipment and services. Radiotherapy, also known as radiation therapy, is a medical treatment that utilizes high-energy radiation to target and destroy cancer cells, and the market encompasses the providers and technologies associated with this therapeutic approach.

Segment Analysis

The global Radiotherapy market has been segmented based on Type, Application and Equipment.

On the basis of Type, the market is segmented into systematic radiation therapy, internal radiation therapy, external beam radiation therapy. In 2022, the external beam radiation therapy market held the lion's share. The market expansion of radiotherapy is being driven by EBRT's capacity to deliver precise and accurate dosages of radiation to the target area while minimising exposure to healthy tissue. The rise in cancer incidence and the desire for cutting-edge therapies are further factors driving the market's expansion.

Based on Application, the global Radiotherapy market has been segmented into skin and lip cancer, head and neck cancer, breast cancer, prostate cancer, cervical cancer, lung cancer, spine cancer, others.. The breast cancer sector dominated market expansion in 2022 and is anticipated to experience the fastest growth throughout the forecast period of 2022 to 2030. Due to the increase in breast cancer incidence and the rising need for radiotherapy for the treatment of breast cancer, the market is expected to develop over the next several years.

Based on Equipment, the global Radiotherapy market has been segmented into treatment planning systems, radiation therapy simulators, and linear accelerators. In 2022, the radiotherapy simulator market segment accounted for the majority of market revenue, and it is anticipated to increase at the fastest rate from 2022 to 2030. Radiation therapy simulators are being quickly installed by cancer research institutions to deliver cutting-edge patient care.

Explore In-depth Details: Radiotherapy Market Research Report

Regional Analysis

The global Radiotherapy market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Radiotherapy market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Radiotherapy market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Radiotherapy market comprises of Middle East, Africa, and Latin America.

The North America Radiotherapy Market dominated this market in 2022. With a share of almost 45.80% and predicted to rise at a substantial CAGR during the study period, USD 2.97 billion will be generated in 2022. The region has become a hub for cutting-edge cancer treatment facilities due to the presence of top institutes for cancer research and substantial healthcare spending by the public and private sectors, which has helped it maintain its dominant position in the radiotherapy market.

Additionally, the second-largest market share for Radiotherapy is held by Europe. Lung cancer is the most prevalent cancer in the EU, accounting for 19% of new cancer cases in men and 14% in women. According to Eurostat, the number of new cancer cases in the European Union (EU) was predicted to rise from 2.7 million in 2018 to 3.5 million in 2040.

Moreover, From 2022 to 2030, the radiotherapy market in Asia Pacific is anticipated to experience the fastest CAGR growth. Due to the rising cancer incidence, rising healthcare costs, and expanding public awareness of cancer treatment alternatives, the Asia-Pacific region is anticipated to have significant market expansion in the radiation sector. The demand for advanced cancer therapies, such as radiotherapy, is being driven by the region's high population and rising incidence of cancer cases.

Key Findings of the Study

·        The global Radiotherapy market is expected to reach USD 9.96 billion by 2030, at a CAGR of 5.49% during the forecast period.

·        The North America Radiotherapy Market dominated this market in 2022. With a share of almost 45.80% and predicted to rise at a substantial CAGR during the study period

·        Based on Application, The breast cancer sector dominated market expansion in 2022 and is anticipated to experience the fastest growth throughout the forecast period of 2022 to 2030

·        Isoray Medical Inc., Mevion Medical Systems Inc., Optivus Proton Therapy Inc., Panacea Medical Technologies Pvt Ltd.