Global Radiotherapy Market
Radiotherapy is also called as radiation therapy. Radiotherapy refers to using radiation such as electronic beams, protons, X-rays and others to treat the diseases. Radiation therapy used to kill the cancer cells. When body tissue exposed to radiation, cancer cells and normal cells both are affected but normal cells usually repair themselves whereas cancer cells cannot. Radiotherapy used in many ways such as curative radiotherapy (to cure cancer completely), chemo radiation (make other treatment more effective, for instance, radiotherapy often used along with chemotherapy), Adjuvant therapy (reduce risk of cancer after surgery) and palliative therapy (relieving symptoms of cancer). Radiotherapy can be given by using external devices, implants or radiotherapy injections based on the condition.
Radiotherapy market mainly is driven by increase in incidence and prevalence of cancer and rise in demand for the non-invasive therapies of cancer globally. According to World Health Organization (WHO), cancer is estimated to be one of the leading cause of deaths worldwide. In 2012, 14 Mn new cancer cases are diagnosed and new cancer cases will rise to 22 Mn within next two decades. In addition, technological advances in radiotherapy such as image guided radiation therapy (IMRT) and increase in adaptation of radiotherapy to treat cancer are expected to bolster the radiotherapy market over the forecast period. Furthermore, developing healthcare infrastructure and favourable government policies are expected to boost the market. However, high cost of equipment, treatment and side effects are restraining the radiotherapy market globally during the forecast period.
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Global radiotherapy market is segmented based on device type and end-user
Based on device type, radiotherapy market is segmented into
- External Radiotherapy
- Internal Radiotherapy (Brachytherapy)
- Systemic Radiotherapy
Based on end-user, radiotherapy market is segmented into
- Diagnostic Centres
- Ambulatory surgical centres
- Radiotherapy Centres
Market players are focus on product innovations and product launches to increase their market share and to sustain their positions in the radiotherapy market. In June 2017, Varian medical System received clearance from U.S. FDA to launch its new device, Halyon System to treat cancer. Furthermore, companies adopting strategies such as mergers and acquisitions to strengthen their market in radiotherapy segment. For instance in 2011, Elekta AB acquired Nucletron- a leader in brachytherapy treatment planning and delivery- to strengthen their radiotherapy product portfolio. Academic and research institutions are also contributing to radiation therapy development by collaborating with market players. For instance, in March 2016, Weill Cornell Medicine, a biomedical research unit and medical school formed a strategic alliance with the Janssen Biotech, Inc. (Johnson & Johnson Services Inc.,) to study the preclinical efficiency of combining external radiotherapy with Janssen’s immune oncology drugs.
Geographically radiotherapy market has been segmented into following regions viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America radiotherapy market expected to grow at notable rates owing to technological advancements, well-established healthcare infrastructure and favourable government policies. In addition growing prevalence of cancer expected to boost the radiotherapy market in this region. According to National Cancer Institute (NIH) estimated that in 2016, 1,685,210 new cases of cancer will be diagnosed in the united states. A number of new cases of cancer is 454.8 per 100,000 men and woman per year. Europe radiotherapy market expected to grow at significant rate owing to increase in cancer incidents and rise in adaptation of radiotherapy in the treatment of cancer. Asia Pacific radiotherapy market expected to grow at higher rate owing to increase in cancer cases, developing healthcare infrastructure and rising disposable income. According to WHO, more than 60% of new cancer cases occur in Asia, Africa and Central and South America.
Some of the players in radiotherapy market are Varian Medical Systems, Inc. (U.S.), Ion Beam Applications (IBA) (Belgium), Accuray Incorporated (U.S.), Nordion, Inc. (Canada), Elekta AB (Sweden), Isoray Medical, Inc. (U.S.), C. R. Bard, Inc. (U.S.), ViewRay, Inc. (U.S.), RaySearch Laboratories (Sweden), Mitsubishi Electric Corporation (Japan), iCad Inc (Xoft) (U.S.), and Mevion Medical Systems, Inc. (U.S.) to name a few.
- In February 2017, US Food and Drug Administration (FDA) approved ViewRay’s MRIdian Linac System, the first device that Combines MRI guidance with linear accelerator radiation
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This post was originally published on The Market Plan