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Radiotherapy Market: Meticulous Research Reveals Why This Market is Growing at a CAGR of 5.6% to Reach USD 10.15 Billion by 2025

Press Release

Radiotherapy is the type of cancer radiation treatment that utilizes beams of higher energy to kill cancer cells. Radiation kills cancer cells by directly affecting the DNA or by indirectly making free radicals that diffuse towards the DNA of damaged cells and destroys them. As cancer cells do not have the ability to repair themselves in the same way as normal cells, the radiation treatment leads to complete destruction of tumor cells. Meticulous Research(R) in its latest publication on Radiotherapy market states that the global Radiotherapy market will increase at a CAGR of 5.6% from 2019 to 2025 to reach $10.15 billion by 2025.

Growth of the global Radiotherapy market is mainly attributed to factors like growing awareness about the benefits of radiotherapy for cancer control and eradication, increasing incidence & prevalence of cancer, and technological advancements in the field of radiotherapy. However, the high cost and risks associated with the radiotherapy procedures, paucity of skilled healthcare professionals, and lack of advanced infrastructure facilities hinders the growth of this market.

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To provide efficient analysis, Meticulous Research has segmented this market on the basis of procedure (external beam radiotherapy, internal beam radiotherapy), product (radiotherapy devices, radiotherapy consumables & accessories, software, and services), technology {external beam radiotherapy (IMRT, IGRT, SRT, 3D-CRT, and particle therapy) and internal beam radiotherapy [brachytherapy (HDR Brachytherapy, LDR Brachytherapy, IGBT, PDR Brachytherapy) and Systemic Radiation Therapy (Intravenous Radiotherapy and Oral Radiotherapy)]}, application (prostate, brain, breast, lung, head & neck, colorectal, cervical, others), end user (hospitals, independent radiotherapy centers, and cancer research institutes), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa).

Wherein, geographically, North America commanded the largest share in this market followed by Europe. The major share of North America is mainly attributed to its well-established healthcare system comprising hospitals and radiotherapy centers, greater adoption of advanced technologies, high level of awareness and spending towards healthcare, growing incidence and prevalence of cancer, and high level of Medicare & Medicaid health insurance coverage.

While in terms of applications, breast cancer segment accounted for the largest share in the global Radiotherapy market in 2019. The large share of this segment is mainly attributed to growing incidence of breast cancer and increasing volume diagnostic procedures and treatment for the disease.

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The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market including Varian Medical Systems, Inc., Elekta AB, Accuray Incorporated, C. R. Bard, Inc., Mevion Medical Systems, Inc., Hitachi, Ltd., ViewRay, Inc., Panacea Medical Technologies Pvt. Ltd., Isoray, Inc., Optivus Proton Therapy, Inc., P-Cure, Ltd., Provison Healthcare, LLC, Ion Beam Applications S.A., and Theragenics Corporation.

Key questions answered in the report:

Growing technological advancements in the field of radiotherapy will propel the radiotherapy market

  • How does the advancements in radiotherapy increase the adoption of radiotherapy procedures?
  • How are the leading players incorporating the technological developments in their products?

Hospitals accounted for the largest share of the radiotherapy market

  • What factors are contributing to the frequent usage of radiotherapy procedure in Hospitals?
  • Which radiotherapy procedures are commonly performed in hospitals and are preferred by most of the cancer patients?
  • How does the penetration of radiotherapy procedures in hospitals differ from other end users?

The North American radiotherapy market favors both larger and local manufacturers that compete in multiple segments

  • What are the top competitors in this market and what strategies do they employ to gain shares?
  • What is driving growth and which market segments have the most potential for revenue expansion over the forecast period?
  • What strategies should new companies look to enter this market use to compete effectively?
  • What are the major drivers, restraints, opportunities, and trends in the global radiotherapy market?
  • Who are the major players in various countries and what share of the market do they hold?
  • What are the geographical trends and high growth regions/ countries?

Recent new product launches and approvals, product enhancements, agreement, acquisitions, partnerships, collaborations, and expansions have taken place in the radiotherapy market space.

  • What companies have recently merged/acquired and how will these unions affect the competitive landscape of the radiotherapy market?
  • What companies have created partnerships and how will these partnerships promote a competitive advantage?
  • Who are the major players in the global radiotherapy market and what share of the market do they hold?
  • What are the local emerging players in the global radiotherapy market and how do they compete with the global players?

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This post was originally published on The Market Plan