Selbyville, Delaware, Nov. 03, 2022 (GLOBE NEWSWIRE) --
The radiotherapy market value is anticipated to be over USD 11 billion until the year 2030, according to a new research report by Global Market Insights Inc.
Robust investment in oncology R&D will be a key factor influencing industry dynamics. Several academic & research institutes, organizations, governments, and nonprofit organizations have made substantial investments in R&D in recent years. This comes in response to the rising prevalence of cancer and the high demand for cost-effective procedures.
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The internal radiation therapy segment held over 20% share of the radiotherapy market in 2021. In internal radiation therapy (brachytherapy), a radioactive material is placed into a catheter or another implantable device that carries the radiation directly into or near a tumor.
This procedure of implanting the device is generally painless. These implants can be placed temporarily or permanently depending on the type of cancer and treatment plan. A variety of cancers can be treated with brachytherapy. Some of these include gynecologic cancers, prostate cancer, and a few rare cases of head, neck, or other cancers. The health benefits of IRT such as its ability to kill cancer cells and shrink tumors will enable its higher adoption in the years to come.
Browse key industry insights spread across 160 pages with 213 market data tables & 16 figures & charts from the report, “Radiotherapy Market Analysis By Type (External Beam Radiation Therapy {Intensity-Modulated Radiation Therapy [IMRT], Image-Guided Radiation Therapy [IGRT], Proton Therapy}, Internal Radiation Therapy, Systemic Radiation Therapy), Application (Lung Cancer, Prostate Cancer, Breast Cancer, Cervical Cancer, Head & Neck Cancer), End-use (Hospitals, Radiotherapy Centers & Ambulatory Surgery Centers, Cancer Research Institutes), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022– 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/radiotherapy-market
Radiotherapy market from the lung cancer application segment was valued at USD 1 billion in 2021. The cases of lung cancer have elevated significantly across the globe. Moreover, around 130,180 deaths were reported in the country due to lung cancer (68,820 in men and 61,360 in women). The high prevalence of such cancer cases will drive the need for effective and advanced radiotherapy solutions.
Radiotherapy centers & ambulatory surgery centers segment was over USD 2 billion in 2021. Technological advancement in radiation therapy has driven the deployment of advanced radiotherapy equipment at ambulatory surgery centers. There is a rising awareness among cancer patients regarding the latest radiotherapy technique for tumor removal. Routine health diagnoses done by the elderly and the adult population will add up to the demand for radiotherapy equipment at these centers.
Latin America radiotherapy market is predicted to record over 5.5% CAGR during the forecast period of 2022 to 2030. Rising awareness regarding the benefits of radiotherapy to treat cancer will influence regional market progress. The demand for radiotherapy machines could also elevated due to robust expansion in the healthcare sector and fast-growing medical tourism in Brazil. Furthermore, the growing burden of cancer cases in LATAM countries will shape the industry outlook.
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Some of the key companies operating in the radiotherapy market include Accuray Inc., Elekta, Eckert & Ziegler, Canon Medical Systems Incorporate, Hitachi, Iba, Mevion Medical Systems, RefleXion, Siemens Healthineers AG, and ViewRay Inc. Strategic collaborations and partnerships are some of the key tactics used by these firms to expand their business reach.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
