Chicago, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The intensity-modulated radiotherapy (IMRT) industry is poised for a transformative evolution in the near future, driven by advancements in radiation oncology technology and the growing demand for personalized cancer treatments. IMRT, with its precise dose delivery capabilities, is becoming increasingly essential in the fight against cancer. With the integration of artificial intelligence, image-guided techniques, and adaptive planning, IMRT is set to become even more tailored to individual patient needs, minimizing side effects and maximizing treatment efficacy. Furthermore, the industry is likely to witness greater accessibility and affordability, enabling a broader range of healthcare facilities to adopt this cutting-edge technology. As cancer continues to be a global health challenge, the IMRT industry's future holds the promise of improved patient outcomes and enhanced quality of life for countless individuals battling this devastating disease.
Intensity-modulated Radiotherapy market in terms of revenue was estimated to be worth $2.2 billion in 2023 and is poised to reach $2.8 billion by 2028, growing at a CAGR of 5.2% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The intensity-modulated radiotherapy market is driven by several factors that contribute to its growth and increasing adoption. These driving factors include non-invasive cancer treatments, increasing prevalence of cancer patient population and rising government initiative for cancer management. However, the complexity in imaging technology and affordability limits the market growth of the intensity-modulated radiotherapy market.
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Intensity-modulated Radiotherapy Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $2.2 billion |
| Estimated Value by 2028 | $2.8 billion |
| Growth Rate | Poised to grow at a CAGR of 5.2% |
| Market Size Available for | 2020–2028 |
| Forecast Period | 2023–2028 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Radiation type, Application, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America and Middle East & Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Rising healthcare expenditure across developing countries |
| Key Market Drivers | Increase in non-invasive cancer treatments through radiation therapy |
Intensity-modulated Radiotherapy market major players covered in the report, such as:
- Varian Medical Systems, Inc. (US)
- Elekta (Sweden)
- Accuray Incorporated (US)
- Mevion Medical systems (US)
- Brainlab (Germany)
- Xstrahl Inc. (US)
- IBA (Belgium)
- and Among Others
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This report has segmented the global intensity-modulated radiotherapy market based on radiation type, application, end-user, and region.
IMRT Market, By Radiation Type
- Proton radiation
- Electron radiation
- Photon radiation
- Carbon-Ion radiation
IMRT Market, By Application
- Prostate cancer
- Lung cancer
- Breast cancer
- Brain cancer
- Gynecological cancers
- Gastrointestinal cancers
- Other cancers
IMRT Market, By End User
- Hospitals
- Independent Radiotherapy Centers
IMRT Market, by region
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- MEA
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The key stakeholders in the Intensity-modulated Radiotherapy market include:
- Radiotherapy product manufacturers
- Distributors, suppliers, and commercial service providers
- Healthcare service providers
- Clinical research organizations (CROs)
- Radiotherapy service providers
- Radiotherapy product distributors
- Medical research laboratories
- Cancer care centers
- Cancer research organizations
- Academic medical centers and universities
- Market research and consulting firms
Frequently Asked Questions (FAQs) of Intensity-modulated Radiotherapy Market:
Question 1: What is the expected addressable market value of the global Intensity-modulated radiotherapy market over five years?
Answer: The global Intensity-modulated radiotherapy market will reach USD 2.8 billion by 2028 from USD 2.2 billion in 2023, at a CAGR of 5.2% from 2023 to 2028.
Question 2: Which segment based on radiation type is expected to garner the highest traction within the Intensity-modulated radiotherapy market?
Answer: The electron radiation segment is expected to grow at the highest rate.
Question 3: What are the strategies adopted by the top market players to penetrate emerging regions?
Answer: The major players in the market use partnerships, distribution agreements, product launches, and product approvals as important growth tactics
Question 4: What are the major factors expected to limit the growth of the Intensity-modulated radiotherapy?
Answer: Complexity of imaging technology for treatments, Dearth of skilled radiologist/oncologist, and high cost of treatment. Availability of alternative technology is the major challenge the market faces.
Question 5: Which segment based on application is expected to garner the highest traction within the Intensity-modulated radiotherapy market?
Answer: The Breast cancer segment is expected to grow at the highest rate.
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Report Objectives:
- To define, describe, and forecast the Intensity-modulated radiotherapy market based on radiation type, application, end user, and region.
- To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
- To strategically analyze the micro markets with respect to individual growth trends, prospects, and contributions to the total market.
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
- To profile the key market players and comprehensively analyze their market shares and core competencies.
- To forecast the revenue of the market segments with respect to five main regions, namely, North America (US and Canada), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), the Asia Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa.
- To track and analyze competitive developments such as new product launches and approvals; agreements, partnerships, expansions, acquisitions; and collaborations in the Image-guided radiation therapy market.
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