New York, June 16, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of its report “Radiotherapy Market by Product, Application, End User – Global Forecasts to 2026” – https://www.reportlinker.com/p05226975 /?utm_source=GNW
However, the underdeveloped public health infrastructure in emerging countries, the shortage of trained and skilled radiation oncologists, and the limited access to and affordability of various radiotherapy treatment options are the main factors expected to inhibit the growth of this market over the forecast period.
The prostate cancer segment accounted for the largest share of the external and internal radiotherapy market in 2020 by application
Based on application, the radiotherapy market is divided into two main segments: external beam radiotherapy and internal beam radiotherapy/brachytherapy applications. Based on indication, the segment of external beam radiotherapy applications is further subdivided into prostate cancer, breast cancer, lung cancer, colorectal cancer, head and neck cancer (laryngeal cancer, hypopharyngeal cancer, oropharyngeal cancer and oral cavity cancer) and other cancers (including pancreatic cancer, brain cancer and gastrointestinal cancer).
The prostate cancer segment accounted for a significant share of both the EBRT and brachytherapy markets due to the high and growing prevalence of prostate cancer and positive outcomes for the treatment of prostate cancer using radiotherapy.
The particle therapy product segment, to register significant growth rate in the external beam radiotherapy products, thanks to the launch of new products and approvals
On a product basis, the radiotherapy market is segmented into external beam radiotherapy, internal beam radiotherapy/brachytherapy and systemic radiotherapy products. The segment of external beam radiotherapy products is further divided into linear accelerators, particle therapy systems and conventional cobalt-60 teletherapy units.
The internal beam radiotherapy/brachytherapy segment includes seeds, applicators, afterloaders and IORT systems, while the systemic radiotherapy segment is iobenguane (I-131), samarium-153, rhenium-186 and other radioisotopes (Yttrium-90, Radium- 223, Phosphorus-32 and Radiolabeled Antibodies, among others). In 2020, the particle therapy segment was responsible for the highest growth, primarily due to growing cancer prevalence, continuous product development and launches over the last three years.
For example, Varian launched the ProBeam 360° single-chamber proton therapy system in 2018 and introduced a multi-chamber configuration for the same product in 2019. Similarly, Mevion received FDA 510(k) approval for the MEVION S250i proton therapy system, including the HYPERSCAN pencil beam scanning (PBS) technology, in January 2018.
More installations and government initiatives to drive hospital end-user segment growth
On the basis of end-users, the radiotherapy market is segmented into hospitals and independent radiotherapy centers. The hospital segment accounted for the largest share of the radiotherapy market due to increasing global cancer prevalence, increasing installations of advanced radiotherapy equipment in both developed and developing regions, increasing government initiatives to equip (or upgrade) hospitals with newer and more advanced radiotherapy systems and the increasing availability of funding for the application of advanced cancer treatment technologies. In 2021, Fudan University Children’s Hospital, Shanghai and Shanghai Fosun Healthcare (Group) Co., Ltd. (China) an agreement with Mevion Medical Systems to establish the first pediatric proton therapy center in China. Many more such recent developments will boost the end-user segment of hospitals.
The US market had the largest market share by region in 2020
Based on region, the radiotherapy market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America had the largest share of the global radiotherapy market in 2020.
The large share of the North American market can be attributed to factors such as continued technological advancements, rising cancer incidence, improving reimbursement scenario and the increasing focus of key players on strengthening their presence in the region.
Below is an overview of the primary participants referenced in this report:
• By business type: Tier 1–45%, Tier 2-34% and Tier 3– 21%
• By designation: C level–47%, director level–33% and others–20%
• By Region: North America–35%, Europe–32%, Asia-Pacific–25%, Latin America–6%, and Middle East and Africa–2%
The dominant players in the global radiotherapy market are Varian Medical Systems, Inc. (USA), Elekta (Sweden) Accuray Incorporated (USA), Ion Beam Applications SA (Belgium), BD (USA), Eckert & Ziegler (Germany), Hitachi Ltd. (Japan), ICAD, Inc. (USA), IntraOp Medical, Inc. (USA), IsoRay Medical, Inc. (USA), Mevion Medical Systems, Inc. (USA), Panacea Medical Technologies Pvt. Ltd. (India), P-cure Ltd. (Israel), ViewRay, Inc. (US) and ZEISS Group (Germany), among others.
This report studies the Radiotherapy market based on product, procedure, application, end user and region. It also addresses the factors influencing the market growth, analyzes the various opportunities and challenges in the market, and provides details about the competitive landscape for industry leaders.
Further, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).
Reasons to buy the report
The report will enable both established companies and new entrants/smaller companies to measure the pulse of the market, which in turn would help them gain greater market share. Companies buying the report can use one or a combination of the strategies below to strengthen their presence in the market.
This report provides insight into the following points:
• Market penetration: comprehensive information on the product portfolios offered by the top players in the radiotherapy market
• Product development/innovation: detailed insights on upcoming trends, R&D activities and product launches in the radiotherapy market
• Market development: comprehensive information on lucrative emerging regions
• Market diversification: comprehensive information on new products, growing regions and recent developments in the radiotherapy market
• Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis and products from the leading market players.
Read the full report: https://www.reportlinker.com/p05226975/?utm_source=GNW
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