Radiotherapy Devices Market Size 2024-2028 

The radiotherapy devices market size is forecast to increase by USD 1.59 billion at a CAGR of 5.82% between 2023 and 2028. The market is experiencing notable growth driven by the rising incidence of cancer globally. The World Health Organization projects that the number of new cancer cases will reach 21.7 million by 2030. Radiotherapy is a crucial element of cancer treatment, positioning the market as a promising investment opportunity. Additionally, the growth potential in emerging economies for radiation oncology, where the cancer burden is escalating, is anticipated to further enhance market expansion. However, a significant challenge remains in the form of limited access to radiotherapy in many developing countries. Despite this, the market is benefiting from technological advancements, including intensity-modulated radiation therapy (IMRT) and image-guided radiation therapy (IGRT), which provide improved accuracy and better patient outcomes. These trends and challenges are influencing the future landscape of the market.

What will be the Size of the Radiotherapy Devices Market During the Forecast Period?

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The global market is poised for significant growth, driven by the rising incidence of cancer and advancements in radiotherapy technologies. Innovative delivery systems, such as MRI linear accelerators and proton therapy, are enhancing accuracy and precision in cancer treatment, including head and neck cancer treatment. Treatment planning software is essential in this process, allowing radiotherapists and oncologists to create personalized treatment plans tailored to individual patient needs.

The effective delivery of radiation doses is crucial in radiotherapy, and innovations in radiation technology, including artificial intelligence and optimized clinical workflows, are streamlining this process. Cancer treatment centers are increasingly integrating radiotherapy systems with chemotherapy and immunotherapy to improve the destruction of cancer cells. Additionally, teletherapy and remote monitoring are gaining traction, enabling healthcare professionals to oversee and administer radiotherapy to patients from afar. The incorporation of genetic profiles into radiotherapy is anticipated to further personalize cancer treatment, ultimately leading to improved patient outcomes.

Radiotherapy Devices Market Segmentation

The radiotherapy devices market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• End-user
  • Hospitals
  • Ambulatory surgical centers
  • Oncological treatment centers
• Product
  • External beam radiation therapy device
  • Internal beam radiation therapy device
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • Asia
  • Rest of World (ROW)

By End-user Insights

The hospitals segment is expected to experience substantial growth during the forecast period. Radiotherapy plays a vital role in treating malignant tumors, with cancer treatment centers in hospitals being the primary users of advanced radiotherapy equipment. Radiotherapists and oncologists rely on these devices to deliver accurate radiation doses to tumor tissues while minimizing harm to surrounding healthy tissues.

Common radiotherapy techniques include systemic radiotherapy, external beam radiotherapy, and internal beam radiotherapy. Key delivery systems feature linear accelerators and particle therapy systems. Advanced techniques such as high-dose-rate (HDR) brachytherapy, radiosurgery and radiotherapy robotics, stereotactic therapy, 3D conformal radiotherapy, intraoperative radiation therapy (IORT), and particle therapy are utilized for various cancers, including prostate, breast, lung, colorectal, gynecological, cervical, and penile cancers.

These devices offer several advantages, including improved treatment precision, reduced side effects, enhanced patient outcomes, and greater treatment efficiency. Radiotherapy software is essential for accurate radiation dose delivery and effective tumor targeting. Real-time imaging technology ensures that radiation is delivered with precision.

Despite the benefits, radiotherapy can lead to side effects such as nausea, vomiting, and diarrhea, collectively referred to as radiation illness. To address these concerns, proton therapy devices, including conventional linear accelerators, are increasingly employed. For example, patients with pancreatic cancer can significantly benefit from proton therapy. While integrating radiotherapy devices into cancer treatments represents a considerable investment, the potential for improved patient outcomes and minimized side effects makes it a valuable endeavor.

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The Hospitals segment accounted for USD 2.21 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

North America is estimated to contribute 43% to the growth of the global radiotherapy devices market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The global market is witnessing significant growth due to the increasing prevalence of borderline respectable cancer cases and chronic diseases. In 2023, North America is expected to dominate the market in terms of revenue, with the US being the major contributor. The US, being the largest market for radiation therapy, boasts a substantial installed base of radiotherapy devices. Factors such as the rising incidence of cancer, the presence of numerous multinational companies, the increasing number of radiotherapy procedures, the availability of a large pool of radiotherapists, advanced healthcare infrastructure, and the adoption of technologically advanced radiation therapy devices, including electronic brachytherapy products, modulators, gantry systems, electron guns, RF power supplies, and accelerator guides, are driving market growth.

Additionally, the increasing acceptance of 3D conformal radiation, stereotactic technologies, AI, clinical workflows, and genetic profiles in cancer treatment is further fueling market expansion. The growing trend towards immunotherapy and cancer cell destruction techniques is also expected to create opportunities for market growth. Furthermore, remote patient monitoring, teletherapy, early cancer detection, telemedicine, financial incentives, and linear accelerator technology are other emerging trends in the market. Machine learning is also gaining traction in the market, offering improved accuracy and efficiency in treatment delivery. The hospitals segment, including both public and private hospitals, is the largest end-user of radiotherapy devices due to the high volume of cancer patients and elective surgeries. Health insurance coverage and government initiatives are also boosting market growth.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Radiotherapy Devices Market Driver

The rising incidence of cancer is a major driver of radiotherapy devices market growth. The global market is expanding significantly due to the increasing occurrence and prevalence of malignant tumors, including breast, lung, prostate, colorectal, and gynecological cancers. According to the European Commission, the estimated number of cancer cases in certain European countries reached alarming levels in 2020. This upward trend is driving the demand for advanced medical procedures aimed at treating cancer or alleviating associated pain, which in turn leads to a greater reliance on radiation therapy as a treatment option.

Radiotherapists and oncologists utilize various radiotherapy delivery systems, including external beam radiotherapy (such as linear accelerators and particle therapy systems) and internal beam radiotherapy (including high-dose-rate (HDR) brachytherapy and intraoperative radiation therapy (IORT) systems). These technologies enhance radiation dose delivery, improve tumor targeting, and offer real-time imaging capabilities.

Advanced radiotherapy techniques like stereotactic therapy, 3D conformal radiotherapy, and proton therapy are also gaining traction. Proton therapy, particularly in the treatment of pancreatic cancer, is contributing to market expansion. However, side effects associated with radiotherapy and chemotherapy, such as nausea, vomiting, and diarrhea, present ongoing challenges. Despite these obstacles, the market is projected to grow significantly during the forecast period, driven by the increasing demand for effective cancer therapies and the ongoing need to enhance tumor targeting and radiation delivery accuracy.

Radiotherapy Devices Market Trends

The growing potential in emerging economies is an important trend shaping the radiotherapy devices market. In the global cancer treatment landscape, radiotherapy devices are crucial in combating malignant tumors. Radiotherapists and oncologists employ various techniques, including systemic radiotherapy, external beam radiotherapy, and internal beam radiotherapy, to deliver targeted radiation to tumor tissues. Essential delivery systems, such as linear accelerators, particle therapy systems, and intraoperative radiation therapy (IORT) systems, facilitate both external and internal beam therapies.

Advanced techniques like high-dose-rate (HDR) brachytherapy, stereotactic therapy, 3D conformal radiotherapy, and particle therapy provide enhanced tumor targeting and precise radiation dose delivery. Common indications for radiotherapy include prostate, breast, lung, colorectal, gynecological, cervical, and penile cancers.

Additionally, radiotherapy software and conventional linear accelerators are integral components of these advanced systems. Real-time imaging plays a vital role in ensuring accurate radiation delivery, further improving tumor targeting performance. Despite the advantages, radiotherapy may cause side effects such as nausea, vomiting, and diarrhea, collectively known as radiation illness.The increased emphasis on cancer prevention, favorable government initiatives, and growing clinical research activities in oncology are prompting companies to expand their presence in emerging markets like China and India, presenting significant opportunities. The healthcare industry's expansion in these regions, fueled by rising healthcare expenditures, further supports the demand for radiotherapy devices.

Radiotherapy Devices Market Challenge

Limited access to radiotherapy represents a significant challenge impacting radiotherapy devices market growth. Radiotherapy devices are essential in cancer treatment, enabling radiotherapists and oncologists to utilize techniques such as systemic radiotherapy, external beam radiotherapy, and internal beam radiotherapy to target and eliminate tumorous tissues. Commonly used delivery systems in cancer treatment centers include linear accelerators, particle therapy systems, and intraoperative radiation therapy (IORT) systems. Advanced techniques like high-dose-rate (HDR) brachytherapy, stereotactic therapy, and 3D conformal radiotherapy are employed for specific cancers, including prostate, breast, lung, colorectal, gynecological, cervical, and penile cancers.

Despite the advantages of radiotherapy, access to these essential cancer therapies is limited due to inadequate investment, low healthcare expenditure, and a shortage of trained personnel and facilities. More than 90% of cancer patients in low-income countries do not have access to radiotherapy. The global standard for cancer care recommends one radiation megavoltage machine for every 150,000 people, yet many African nations, including Senegal, Ghana, South Africa, and Ethiopia, face significant shortages of these devices.

Radiotherapy devices, such as linear accelerators, deliver radiation to tumorous tissues with precision and accuracy. However, their use carries risks, including nausea, vomiting, diarrhea, and other radiation-related illnesses. Advanced radiotherapy software and real-time imaging technologies enhance tumor targeting capabilities and help minimize radiation exposure to healthy tissues.

Proton therapy devices, like particle therapy systems, provide an alternative to conventional linear accelerators, delivering more precise radiation doses to tumors and reducing the likelihood of radiation-related side effects. In conclusion, the global deficit in radiotherapy services is a major hurdle in delivering comprehensive cancer care to all patients. Enhancing access to radiotherapy and improving cancer treatment outcomes will require investments in infrastructure, training for radiotherapists and oncologists, and the adoption of advanced technologies such as particle therapy and stereotactic therapy.

Customer Landscape

The radiotherapy devices market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the radiotherapy devices market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Radiotherapy Devices Market Companies & Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Accuray Inc. - The company offers radiotherapy devices such as CyberKnife S7, and Radixact.

The radiotherapy devices market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• AngioDynamics Inc.
• Becton Dickinson and Co.
• Eckert and Ziegler AG
• Elekta AB
• GE Healthcare Technologies Inc.
• Hitachi Ltd.
• iCAD Inc.
• Ion Beam Applications SA
• IsoRay, Inc.
• Koninklijke Philips N.V.
• Mitsubishi Heavy Industries Ltd.
• Nasdaq Inc.
• Neusoft Corp.
• Shinva Medical Instrument Co., Ltd.
• Siemens Healthineers AG
• Theragenics Corp.
• Toshiba Corp.
• ViewRay Inc.
• Vision RT Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

Radiotherapy devices play a crucial role in cancer treatment, offering various techniques such as external beam radiotherapy, internal beam radiotherapy, and HDR brachytherapy to target tumorous tissues with radiation. Radiotherapists and oncologists collaborate to deliver radiotherapy through linear accelerators, particle therapy systems, IORT systems, and stereotactic therapy. Prostate, breast, lung, colorectal, gynecological, cervical, and penile cancers are common indications for radiotherapy. Linear accelerator devices are the backbone of radiotherapy delivery systems, focusing on radiation dose delivery and tumor targeting performance. Real-time imaging is essential for precise radiation delivery, minimizing side effects like nausea, vomiting, diarrhea, and radiation illness. Advanced radiotherapy software and conventional linear accelerators enhance the accuracy of cancer therapies, addressing malignant tumors effectively. Proton therapy devices, including particle therapy, are emerging alternatives to conventional radiotherapy, offering improved tumor targeting and reduced side effects for certain cancer types, such as pancreatic cancer.

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What are the Key Data Covered in this Radiotherapy Devices Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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