Global Radiotherapy Market Expected To Reach $ 8.17 Billion By 2021 With A CAGR Of 6.31%

Date: 2017-06-25

Radiation therapy uses high energy radiation on targeted cells and cell growth to stop them from growing and dividing. It is a local treatment like surgery and affects a specific area only.

The global Radiotherapy market was estimated at USD$ 6.02 Billion in 2016, and is anticipated to reach USD$ 8.17 Billion by 2021, expanding at a CAGR of 6.31% between 2017 and 2021. In the present global scenario where number of people suffering with different forms of cancer is on the rise, the applications of new and improved as well as conventional forms of radiotherapy are immense. The most important requirement necessitating the development of improved and increasingly accurate radiation therapy is the need to accurately hit only the affected tumor using the radiation beam and avoid damaging the surrounding tissue. Image Guided Radiotherapy is the result of research which has gone into integrating better imaging techniques to facilitate clearer visualization of the cancer tumor(s). Further improvements in the imaging of tumors for radiotherapy applications is the major driver expected to fuel the growth of this market throughout the coming decade.

The global radiotherapy market is driven by a number of factors like an increase in the number of cancer patients, reduction in the cost of treatment in many developed countries, huge government and non government investments in Research and Development of cancer treatment and preference for non invasive procedures of treatment. However, the lack of skilled personnel to perform the therapy, competent alternative therapy, its inability to be used for metastasis state of cancer  and side effects like skin rashes, scar tissue formation have restrained the market growth.

On the basis of product type, the radiotherapy market is segmented into external beam radiotherapy, internal beam radiotherapy/brachytherapy, and systemic radiotherapy. In 2016, the external beam radiotherapy segment accounted for the largest market share and is expected to grow at the highest CAGR. The large share of this segment can primarily be attributed to factors such as growing prevalence of cancer, product enhancements, and increasing adoption of external beam radiotherapy devices in emerging countries.

Geographically, the radiotherapy market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest share of the market in 2016, followed by Europe. A number of factors such as technological advancements in radiotherapy equipment, growing number of cancer cases, and rising focus of key players on expanding their presence in North America are driving the growth of the radiotherapy market in this region.
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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 1-510-400-8520


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