Dublin, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The "Global Intensity-modulated Radiotherapy Market, Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global Intensity-Modulated Radiotherapy (IMRT) market is poised for substantial growth, with a projected value of USD 2.8 billion by 2028, up from USD 2.2 billion in 2023, showcasing a compound annual growth rate (CAGR) of 5.2% during the forecast period. This market's ascent is driven by its ability to provide exceptional precision in targeting tumors while minimizing harm to healthy tissues. Moreover, the escalating global incidence of cancer is propelling the demand for advanced treatment modalities, with IMRT at the forefront. This combination of factors is ushering in a period of robust expansion in the IMRT market.
Key Drivers of IMRT Market Growth
The increasing adoption of IMRT can be attributed to its unique advantages, which include:
- Precision in Tumor Targeting: IMRT excels in achieving remarkable precision when targeting tumors, making it an ideal choice for cancer treatment.
- Mitigation of Collateral Damage: IMRT's ability to minimize collateral damage to healthy tissues is a pivotal factor, as it enhances patient safety and reduces side effects.
- Escalating Cancer Incidence: With the global rise in cancer cases, there is a growing demand for advanced treatment options, positioning IMRT as a leading solution in the field of radiation therapy.
Application Segment Trends
The brain cancer application segment is set to register the highest compound annual growth rate (CAGR) during the forecast period of 2023-2027. The IMRT market is segmented based on applications, including prostate cancer, lung cancer, head & neck cancer, breast cancer, gastrointestinal cancer, gynecological cancer, and other applications. Breast cancer witnessed the highest growth rate in 2022 due to factors such as aging, genetic mutations, and hormone replacement therapy. The incidence of breast cancer may be on the rise, but advances in detection and treatment have led to declining mortality rates. IMRT is instrumental in eradicating cancer cells efficiently through precise radiation intensity.
Hospital Segment Dominance
Hospitals are the major end-users in the IMRT market, expected to hold a significant market share during the forecast period. Hospitals offer the convenience of consolidated medical services under one roof, streamlining patient care and making IMRT an attractive treatment option. Their advanced infrastructure and technological capabilities are essential for successful IMRT integration, further enhancing the market's growth.
Asia-Pacific's Ascending Role
Asia-Pacific (APAC) is set to register a significant growth rate in the IMRT market during the forecasting period of 2023-2028. This growth is attributed to several factors:
- Demographic Profile: The aging demographic in APAC countries underscores the need for effective cancer treatment with minimal adverse effects, aligning with IMRT's precision-driven attributes.
- Multilingual Patient Care: Hospitals in APAC offer multilingual patient care, coupled with access to advanced treatments like IMRT, making the region an appealing healthcare destination.
Research Coverage and Prominent Players
The report covers the IMRT market based on radiation type, application, end-user, and region, analyzing factors affecting market growth, opportunities, and challenges. It also provides insights into the competitive landscape for market leaders. Prominent players in the IMRT market include Varian Medical Systems, Inc., Elekta (Sweden), Accuray Incorporated (US), and Hitachi (Japan), among others.
Premium Insights
- Increasing Prevalence of Cancer and Growing Geriatric Population to Drive the Market
- Photon Radiation and US Commanded the Largest Market Share in 2022
- Middle East & Africa to Register the Highest Growth Rate During the Forecast Period
Market Dynamics
- Drivers
- Rising Prevalence of Chronic Diseases Among All Age Groups
- Advancements in Radiation Therapy Technologies to Improve Treatment and Reduce Side Effects
- Improved Patient Outcomes and Potential Cost Savings in Long Run
- Reduced Infection Risk and Shorter Recovery Periods with Minimal Scarring
- Restraints
- Dearth of Skilled Radiologists/Oncologists for Operating Automated Radiotherapy Equipment
- High Cost of Intensity-Modulated Radiation Therapy Systems
- Opportunities
- Rapid Economic Development and Rising Healthcare Expenditure Across Emerging Economies
- Growing Government and Private Investments in Cancer Treatment
- Increased Adoption of Radiation Therapy as Primary Treatment Option for Cancer
- Challenges
- Increased Risk of Radiation Exposure for Both Patients and Healthcare Staff
- Increased Competition from Alternative Treatment Modalities
Key Attributes
| Report Attribute | Details |
| No. of Pages | 160 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $2.2 Billion |
| Forecasted Market Value (USD) by 2028 | $2.8 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Intensity-Modulated Radiation Therapy Market, by Application
7 Intensity-Modulated Radiation Therapy Market, by Radiation Type
8 Intensity-Modulated Radiation Therapy Market, by End-user
9 Intensity-Modulated Radiation Therapy Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
Companies Mentioned
- Accuray Incorporated
- Brainlab AG
- Elekta
- Hitachi, Ltd.
- IBA Worldwide
- Koninklijke Philips N.V.
- Mevion Medical Systems
- Raysearch Laboratories
- Siemens Healthineers AG (Varian Medical Systems, Inc.)
For more information about this report visit https://www.researchandmarkets.com/r/n1eaho
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
