New York, United States, Nov. 30, 2023 (GLOBE NEWSWIRE) -- The Global Image-Guided Radiation Therapy Market Size is to Grow from USD 1.78 Billion in 2022 to USD 2.93 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.1% during the projected period. The growing demand for image-guided interventions, as well as the expansion of non-invasive cancer management treatments, are some of the factors driving the growth of the image-guided radiation therapy market.
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IGRT is a cutting-edge technology that precisely targets and treats cancerous tumors by combining radiation therapy with advanced imaging techniques. This method improves radiation therapy accuracy and effectiveness while minimizing damage to healthy tissues in the surrounding area. In IGRT, real-time imaging such as X-rays, CT scans, or MRI are used to guide radiation therapy delivery. It allows oncologists to monitor and adjust a patient's treatment plan as anatomy or tumor position changes during treatment. The global IGRT market is being driven by the increasing incidence of cancer worldwide, the growing demand for personalized treatment plans, and technological advancements in both imaging and radiation therapy equipment. This market includes a wide range of components, such as imaging systems, software solutions, and radiation therapy machines, all of which contribute to overall patient outcomes improvements. Implementing IGRT in healthcare facilities necessitates a substantial capital outlay. This includes the purchase of specialized imaging-capable linear accelerators and advanced imaging devices for IGRT. Many healthcare institutions, particularly those in resource-constrained areas or with smaller facilities, may find these initial costs prohibitively expensive.
Browse key industry insights spread across 210 pages with 100 market data tables and figures & charts from the report on the "Global Image-Guided Radiation Therapy Market Size, Share, and COVID-19 Impact Analysis, By Product (4D RT, LINAC, MRI-guided radiotherapy, Portal CT Imaging), By Procedure (IMRT, Stereotactic, Particle), By Application (Neck, Prostate, Breast cancer), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The MRI-guided radiotherapy segment is expected to hold a significant share of the global image-guided radiation therapy market during the forecast period.
The global image-guided radiation therapy market is divided into four segments based on product: 4D RT, LINAC, MRI-guided radiotherapy, and Portal CT Imaging. MRI-guided radiotherapy is projected to account for a sizable portion of the global image-guided radiation therapy market during the forecast period. MRI integration enables timely assessment of treatment response, allowing providers to quickly adapt plans. This improves outcomes and intervention precision. Real-time insights improve decision-making and raise awareness of IGRT, which is consistent with patient-centric values.
The stereotactic segment is expected to grow at the rapid pace in the global image-guided radiation therapy market during the forecast period.
The global image-guided radiation therapy market is classified into three types based on the procedure: IMRT, stereotactic, and particle. The stereotactic segment, among these, is projected to expand at the fastest rate in the global image-guided radiation therapy market throughout the forecast period. Stereotactic therapy's efficiency in requiring fewer treatment sessions than conventional methods aligns with IGRT's streamlined approach. This benefits patients, healthcare providers, and resource allocation, which improves patient satisfaction and adherence.
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North America is anticipated to hold the largest share of the global Image-Guided Radiation Therapy market over the predicted timeframe.
North America is expected to maintain the largest share of the global image-guided radiation therapy market in the coming years. North America, which included the United States and Canada, dominated the largest share of the image-guided radiation therapy market in 2022. With its robust healthcare infrastructure and access to cutting-edge medical technologies, North America is an ideal setting for the widespread use of advanced treatment methodologies like image-guided radiation therapy (IGRT).
During the forecast period, Asia Pacific is projected to expand at a significant rate in the global image-guided radiation therapy market. The Asia-Pacific region, which includes China, Japan, India, and other countries, is experiencing rapid growth in the IGRT market. Population growth, rising cancer cases, and the development of healthcare infrastructure are all contributing factors to this expansion. Some APAC countries, most notably China and India, are establishing themselves as important IGRT markets.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Image-Guided Radiation Therapy Market include Siemens Healthineers AG, Hitachi, Elekta, Koninklijke Philips, Viewray Technologies Inc., C-RAD, Varian Medical Systems, Toshiba Corporation, General Electric Healthcare Company, IBA Worldwide, Accuray Incorporated, Becton, Dickinson And Company, Vision RT Ltd. and Others.
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Recent Developments
- In April 2023, the introduction of Pixxoscan expands GE HealthCare's portfolio of Magnetic Resonance Imaging (MRI) contrast agents, giving customers access to two leading macrocyclic molecules: Clariscan (gadoteric acid) and Pixxoscan (gadobutrol).
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Image-Guided Radiation Therapy Market based on the below-mentioned segments:
Global Image-Guided Radiation Therapy Market, By Product
- 4D RT
- LINAC
- MRI-guided radiotherapy
- Portal CT Imaging
Global Image-Guided Radiation Therapy Market, By Procedure
- IMRT
- Stereotactic
- Particle
Global Image-Guided Radiation Therapy Market, By Application
- Neck
- Prostate
- Breast cancer
Global Image-Guided Radiation Therapy Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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