Amsterdam, NL - July 15, 2020 -
Radiation therapy makes use of ionizing radiation, generally as part of cancer treatment to control or kill malignant cells. Radiotherapy can be curative for several types of cancer if they are located in one area of the body, this is normally done with the help of a linear accelerator. It is also used for adjuvant therapy that prevents the reoccurrence of tumour after removal of the primary malignant tumour. The instruments used to facilitate this therapy are called radiotherapy equipments.
The major drivers for this market are the technological advancements in this field and the rising prevalence of cancer. Several conferences and symposiums are conducted to promote the use of radiotherapy and to spread awareness regarding the benefits of this same which acts as a positive driver. The growing utilization of particle therapy for the treatment of cancer is another important driver for this market. Moreover, an upsurge in the growing investments by government and private associates to meet the rising demand for cancer treatment and improving reimbursement scenario has been opening several doors for market players.
The report titled, “Global Radiotherapy equipments - Market and Technology Forecast to 2028
” is segmented based on Product Type, End-User, and Region. Based on Product type, the radiotherapy market is segmented into external beam radiotherapy, internal beam radiotherapy/brachytherapy, and systemic radiotherapy. By the end-user, the radiotherapy market has been segmented into hospitals and independent radiotherapy centers. Based on regions understudy the global market is segmented as NA, EU, APAC, Middle East, and RoW.
The global market for radiotherapy equipments is estimated to reach USD 11 Billion by 2028 from USD 7 Billion in 2020. The market is expected to grow with a CAGR of around 6% during the forecast period 2020-2028. The external beam radiotherapy segment is expected to have the largest market revenue by type, it is likely to grow with a value of 6.2%. This growth is primarily due to reduced risk of radiation exposure. By the end-user, the hospital segment is the is expected to constitute for the largest number of shares, this is attributed to increased incidence of cancer and increasing installations of advanced radiotherapy equipments.
North America is expected to dominate this market owing to an increasing number of cases for cancer in the US and Canada. The U.S is anticipated to maintain a growth momentum of 5% approximately. Moreover, rising investment in research by healthcare bodies engaged in improving the existing radiation therapy techniques like the integration of image-guided and intensity-modulated radiotherapy are factors fuelling the growth of the market. Europe is predicted to have the second-largest market size, this is due to the well-established infrastructure in the health care sector and involvement of key market players. APAC is expected to be the fastest-growing segment this is due to increasing per capita income, supportive government regulations, and improving health care facilities in this sector. China is a major contributor to the APAC market revenue; it is expected to grow with a value of 9% roughly during the forecast period.
The study period of the report titled, ”Global Radiotherapy equipments - Market and Technology Forecast to 2028
" ranges from 2019-2028, and the forecast period is from 2020-2028. This report is segmented based on Product Type, End-User, and Region.
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- The sales teams engaging in the Radiotherapy Equipments market could use this report to develop new strategies to approach their clients with respect to the expanding end-user base.