Global Radiotherapy Market was valued at USD 7987.01 Million in the year 2020. Increasing healthcare expenditure on the back of growing disposable income, rapid technological advancements along with high prevalence of cancer is expected to drive the radiotherapy market significantly. Further, expanding healthcare infrastructure accompanied with rising R&D activities is expected to propel the radiotherapy market during the forecast period.
Artificial Intelligence (AI) is a leading trend in the radiotherapy market and is gaining significant popularity in the market. Incorporation of AI innovation in disease care is expected to improve exactness and speed of analysis, help clinical dynamics, and lead to better results. For instance, Varian Medical Systems, a US-based manufacturer of radiation oncology medical devices, launched Ethos artificial intelligence radiotherapy device.
The traditional treatment arranging process takes days to make an improved radiation treatment conveyance plan; however, the new AI advancements are helping to speed up this procedure. AI is also expected to include deep learning applications in treatment planning, clinical decision support, and automated image-guided adaptive radiation therapy and genomic/radio-biologic data mining, thus supporting the growth of the market. Virtual and remote care via video consultations, online patient portals, patient wellness apps and remote monitoring provide even more data and are being used to overcome shortages of oncologists and to meet patient demands for more access points.
Several significant mergers have been taken place in the radiotherapy industry. For instance, Siemens Healthineers AG has successfully completed the acquisition of Varian Medical Systems, Inc. With Varian, Siemens Healthineers has the most comprehensive portfolio in the MedTech sector, which offers the company considerable potential for value creation. With a highly integrated approach, Siemens Healthineers will take the global fight against cancer to a new level. The combined company is creating a unique, highly integrated portfolio of imaging, laboratory diagnostics, artificial intelligence and treatment for the global fight against cancer with significant potential for increased value creation.
North America region dominates the radiotherapy market. Key factors responsible for ample regional demand of radiotherapy equipment include growing incidence of cancer especially, amongst pediatric patients, favorable reimbursement policies and presence of large multinational companies. In addition, high focus on international sales, mergers and acquisitions by key players in the region along with improving economic conditions is anticipated to drive the market in the forecast period.
Scope of the Report
• The report presents the analysis of Radiotherapy Market for the historical period of 2016-2020 and the forecast period of 2021-2026.
• The report analyses Radiotherapy Market By Value.
• The report analyses Radiotherapy Market By Procedure (External-Beam Radiation Therapy, Internal Beam Radiation Therapy).
• The report further assesses the Radiotherapy Market By Product (Linear Accelerators, Proton Therapy, Compact Advanced Radiotherapy Systems).
• The report further assesses the Radiotherapy Market By Application (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Others).
• The Global Radiotherapy has been analysed By Region (North America, Europe and Asia Pacific) and By Country (United States, Canada, Germany, Russia, France, Italy, United Kingdom, China, Japan, India).
• The key insights of the report have been presented through the frameworks of Major Mergers & Acquisitions, Recent Innovations. Also, the attractiveness of the market has been presented By Region, By Procedure, By Product and By Application. Additionally, trends, drivers and challenges of the industry has been analysed in the report.
• The companies analysed in the report include Varian, Elekta, Accuray, Mevion Medical Systems, ViewRay, Inc., Isoray, IntraOp Medical Corporation, Siemens Healthineers, Eckert & Ziegler and P-Cure Ltd.
Key Target Audience
• Radiotherapy Companies
• Hospitals, Clinics, Healthcare Units
• Pharmacies, and Retailers
• Government and Research Organisations
• Consulting and Advisory Firms
• Investment Banks and Equity Firms
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