External-Beam Radiation Therapy is anticipated to witness the largest market share owing to low cost of cancer treatment

Date: 8 July 2020

According to a research report published by Azoth Analytics in May 2020, the Global Radiation Therapy Market was valued at USD 5216.04 million in the year 2019. Primarily, the growth in the market for Radiation Therapy will be supported by rise in the ageing population as people of the age group of 65 and more than 65 are more prone to develop cancer in their body when compared to people younger to them. This is clubbed with increasing public health expenditure as cancer is second most deadliest disease in the world so to curb this disease governments’ of various countries are improving their health facilities to decrease the mortality rate due to cancer  post-surgery recovery. These factors will be propelling the market growth during the forecast period.

According to the Azoth Analytics research report GlobalRadiation Therapy Market(2020 Edition), External-Beam Radiation Therapy is anticipated to witness the largest market share owing to ever increasing cases of Lung cancer, Breast cancer and low cost of cancer treatment by radiation therapy. Also, various companies are focusing on research and development in order to provide better treatment to cancer patients and this will be accelerating the Global Radiation Therapy market growth in the coming years.

Hospitals followed by clinics attained substantial market share under End User segment, chiefly on the back of growing collaborations or partnership with leading manufacturers with clinics, doctors, surgeons, and hospitals in order to better understand the requirements of consumers and provide them the desired products backed with rising adoption of Radiation Therapy with escalating number of breast cancer cases. 

Treatment of lung cancer is anticipated to account for a larger market share due to increase in number of people smoking tobacco and consuming alcohol and these factors will be driving a remarkable growth in the market for Radiation Therapy  during the period of 2020-2025.

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