Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Image-Guided Radiation Therapy Market by Product (4D RT, LINAC, MRI-guided radiotherapy, Portal CT Imaging), Procedure (IMRT, Stereotactic, Particle), Application (Neck, Prostate, Breast cancer), Enduser (Hospital, ACC) & Region - Global Forecasts to 2028" report has been added to ResearchAndMarkets.com's offering.
The global image-guided radiation therapy (IGRT) market is anticipated to ascend from USD 1.9 billion in 2023 to an estimated USD 2.4 billion by 2028, registering a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period. With cancer incidences on the rise, the necessity for sophisticated and accurate radiation therapy systems is becoming increasingly vital. This demand is driving substantial advancements in the IGRT segment, particularly in the Asia Pacific region.
Advancements in Technology and Procedures Catalyze Market Growth
Innovations within the domain of LINAC technologies are expected to command the largest market share, moving forward. Their continuous advancements establish them as integral components in the expansion of the IGRT market. Meanwhile, the prostate cancer application segment is projected to witness the highest CAGR, reflecting the rising global prevalence of the disease and the critical need for precision medicine.
High-CAGR Segments: Stereotactic Therapy and Hospital End Users
- Stereotactic therapy, recognized for reducing treatment times and enhancing patient comfort, is expected to generate the highest CAGR.
- Hospitals, equipped to offer a full spectrum of services and sophisticated technology, remain the largest end users and a driving force in the IGRT market.
Asia Pacific Emerges as a High-Growth Region in IGRT Market
The Asia Pacific region is set to exhibit significant growth rates. Factors contributing to this growth include:
- Diverse and burgeoning patient demographics demanding advanced cancer treatments with fewer side effects.
- Multilingual healthcare services coupled with cutting-edge therapy options like IGRT enhance accessibility for a broader patient base.
Market Dynamics and Competitive Landscape
The image-guided radiation therapy market is influenced by various factors including technological advances, the increasing prevalence of cancer, government initiatives for cancer management, and rising healthcare expenditures in developing countries. The competitive landscape of the IGRT market includes key players making strides with investments in technology, innovation, and the expansion of services to meet the demands of this growing market. In summary, the IGRT market is set to continue its trajectory of growth, driven by technological advancements, a heightened emphasis on precise cancer treatments, and the burgeoning demand from the Asia Pacific region. This growing market is an indication of a positive outlook for patients and healthcare providers alike, promising improved outcomes and increased access to top-tier cancer treatment.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 198 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1.9 Billion |
| Forecasted Market Value (USD) by 2028 | $2.4 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
Companies Mentioned
- Accuray Incorporated
- Aep Linac
- Asg Superconductors
- C-Rad Ab
- Canon Medical Systems Corporation
- Elekta
- Galbino Technology
- GE Healthcare
- Hitachi
- Iba Worldwide
- Izi Medical
- Koninklijke Philips
- Mevion Medical Systems
- Panacea Medical Technologies
- Reflexion
- Siemens Healthineers AG
- Viewray, Inc.
- Vision Rt Ltd.
- Xstrahl
For more information about this report visit https://www.researchandmarkets.com/r/kwz46v
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