Radiotherapy Devices Market

Radiotherapy Devices Market Outlook (2021 to 2031)

The global radiotherapy devices market reached a valuation of around US$ 5 Bn in 2020, which amounts to close to 4% share of the overall oncology devices market.

Sales of radiotherapy equipment are slated to accelerate at a CAGR of 7% to top US$ 10 Bn by 2031. Demand for linear accelerator devices, which holds the highest market share, is set to increase at a CAGR of 6% across the assessment period of 2021 to 2031.

Market Analysis	Values
Market Size in 2020	US$ 5 Bn
Sales Forecast for Radiotherapy Devices by 2031	US$ 10 Bn
Global Market Growth Rate (2021 to 2031)	7% CAGR
Share of Top 5 Manufacturers	50%

Revenue Analysis of Radiotherapy Devices from 2016-2020 Vs Market Outlook for 2021 to 2031

As per Fact.MR, a market research and competitive intelligence provider, the global market for radiotherapy devices was valued at US$ 5 Bn in 2020.

Improving the quality of life of cancer patients and survivors are becoming more important than the efficacy of treatments. Against the backdrop of health risks associated with prominent cancer treatment procedures such as chemotherapy, patients and oncologists are turning towards radiotherapy as the most soothing option in the treatment of cancers.

The global cancer incidence rate is expected to soar uncontrollably, particularly due to the emergence of new complications arising from exposure to toxic materials.

Demand for radiotherapy delivery systems will continue to grow in parallel with the adoption of radiotherapy procedures for cancer treatments. Reduced hospital stay, effectively control over the growth of tumorous tissues, and low exposure to undue radiation are serving as proponents of using radiotherapy devices in the oncological treatment of cancer.

Going forward, the global market for radiation therapy devices is expected to witness higher participation of top manufacturers of radiotherapy devices towards product innovation.

Latest trends in radiotherapy software, rising sales of conventional linear accelerators, and growing demand for advanced stereotactic radiotherapy units are fueling the market growth.

All of these factors are expected to drive the market at 7% CAGR across 2021 to 2031.

How are Technological Advancements in Radiotherapy Devices Fueling Market Growth?

Technology is assisting in the development of low-cost, more effective and efficient, and user-friendly solutions with radiotherapy products with improved and precise radiation dose delivery for improved tumor targeting performance.

High conformity of radiation to the target (with little exposure to normal tissue) and dose escalation with enhanced tumor control have been possible by the advancement from 2D to 3D conformal radiotherapy with real-time imaging.

Products that give these advantages are projected to have a very high growth potential in a short period of time, particularly in established markets where latest radiotherapy machines are widely adopted.

Such advanced technologies in radiotherapy software aim to improve the functionality of radiotherapy delivery systems while also broadening their scope of application. One of the primary factors driving the growth of the radiotherapy positioning devices market is increasing the acceptance of radiation therapy devices in a variety of applications and settings.

Latest innovations in radiotherapy devices, growing demand for external beam therapy (EBT), and rising sales of electron-emitting high-energy linear accelerators are projected to fuel the market growth over the forecast period.

What Barriers are Encountered by Radiotherapy Device Manufacturers?

Size of radiotherapy equipment is larger and it requires a lot of area to be installed. As a result, one of the key problems limiting the adoption of advanced radiotherapy devices in emerging and developing nations is a lack of suitable healthcare infrastructure due to limited healthcare expenditure.

The risk of radiation exposure is one of the most significant issues related with the use of advanced radiotherapy devices for cancer treatment. The high radiation doses associated with therapeutic exposures have the potential to injure not only the patients receiving treatment, but also the healthcare workers and others in the surrounding region if involuntary radiation exposure occurs.

This can cause a variety of adverse effects, including nausea, vomiting, and diarrhea. Similarly, simultaneous exposure to a significant number of radiation doses can result in radiation illness and death. These factors are restraining radiotherapy equipment market growth to some extent.

Which is the Most Profitable Regional Market for Radiotherapy Device Suppliers?

Europe is likely to be a major revenue-generating region. Revenue in the European regional market is projected to expand 1.5X by 2031.

With soaring incidence of cancers across European countries, the healthcare infrastructure in this region is expected to remain lucrative for adoption of effective cancer therapies such as radiotherapy.

Demand for radiotherapy devices and techniques is expected to gain traction in Europe owing to its advantage over other cancer therapeutic devices in terms of controlling the growth of malignant tumors. Moreover, cancer patients are likely to remain more inclined towards external beam therapy (EBT) that limit hospital stay duration.

Growing demand for 3D conformal radiotherapy devices, rising adoption of latest radiotherapy machines, and increasing sales of proton therapy devices are expected to drive market growth in Europe over the next ten years.

Growing demand for external beam radiation therapy devices in the U.K. and rising sales of linear accelerators in Australia are making a significant contribution to global market growth prospects for radiotherapy devices.

Country-wise Analysis

What is the Demand Outlook for Radiotherapy Devices in the U.S.?

The U.S. market for radiotherapy devices is expected to increase 1.7X by 2031.  In the U.S, changing lifestyles of consumers and penetration of urban cultures are fueling the incidence of pancreatic cancer.

Radiotherapy devices are expected to remain of great use in the treatment of pancreatic cancer and borderline respectable cancer. Rising sales of proton therapy devices in the U.S. and presence of manufacturers of radiotherapy devices in the U.S. are fueling regional market growth.

How Lucrative is the Market for Radiotherapy Devices in China?

Improving healthcare infrastructure, large pool of people with chronic diseases, and rising sales of electronic brachytherapy products in the country are fueling market growth.

Favorable industrial regulations, low wages, and high resource availability are expected to boost sales of radiotherapy devices in China.

Category-wise Insights

Why are Linear Accelerator Devices in Such High Demand?

With continued advancements in medical technology, linear accelerator devices have emerged to become top-selling products in the global market for radiotherapy devices. Sales of linear accelerator devices are expected to increase 2.1X over the forecast period.

In external beam radiotherapy systems, the linear accelerator is the primary and most extensively utilized treatment equipment. Linear accelerator devices enhance the velocity of charged subatomic particles across a linear route using high-energy radiofrequency electromagnetic waves.

A modulator, gantry, electron gun, RF power supply, and accelerator guide are the main components of these accelerators. IMRT, IGRT, 3D conformal radiation (3D-CRT), and stereotactic technologies can all benefit from linear accelerators.

Viewed as the most-advanced radiotherapy devices, linear accelerators produce radiation and deliver it precisely in critical procedures such as intensity modulated radiation therapy and intraoperative radiation therapy.

Why is Demand for Radiotherapy Devices Highest from Hospitals?

The hospitals segment is likely to account for a majority of the market share of radiotherapy devices.

One of the primary factors leading to the growth of the radiotherapy market at hospitals is rising number of private hospitals in emerging markets, combined with the vast pool of cancer patients visiting hospitals for diagnosis and treatment.

Other significant factors supporting growth of the radiation therapy equipment market in hospitals are growing healthcare infrastructure and increased accessibility to healthcare services through wider adoption of health insurance.

COVID-19 Impact on Radiotherapy Devices Industry

The COVID-19 pandemic had a global impact on the medical equipment industry, especially on the sales of internal beam radiotherapy systems. During the COVID-19 pandemic, there was a lot of variance in how radiation procedures were handled from one place to the next.

According to WHO, as a result of COVID-19, worldwide cancer burden is predicted to increase by 20%. This is due to the temporary postponement of numerous elective surgeries as governments and agencies work to guarantee that COVID-19 patients have access to resources.

Several countries have issued recommendations on elective procedures to relieve pressure on the healthcare system, reduce disease transmission, and conserve personal protective equipment (PPE).

Top companies in the radiotherapy devices market are resuming operations and adapting to the new normal as they recover from the COVID-19 impact, which had previously resulted in restrictive containment measures such as social distancing, remote working, and the closure of commercial activities, all of which created operational challenges.

Competitive Landscape

The radiation therapy devices market is highly competitive and consists of a few leading manufacturers of radiotherapy devices.

• In June 2020, Accuray announced the Cyberknife S7 system, which enables improved accuracy and real-time artificial intelligence powered motion tracking. This radiotherapy device is used to deliver treatments such as stereotactic radiosurgery, and stereotactic body radiation therapy. Cyberknife S7 system is a robotic, non-invasive radiation therapy device that can be used to treat malignant and benign tumours as well as neurologic problems across the body.

Report Scope

Report Attributes	Details
Forecast Period	2021-2031
Historical Data Available for	2016-2020
Market Analysis	Value in US$ Mn, Volume in Units
Key Regions Covered	North America Latin America Europe East Asia South Asia Oceania Middle East Africa
Key Segments Covered	Raw Material Indication End User Region
Key Companies Profiled	Varian Medical Systems Elekta AB Accuray Inc. C.R. Bard Inc. IBA Ion Beam Applications SA Koninklijke Philips N.V. Siemens AG Eckert & Ziegler Bebig IsoRay Inc. GE Healthcare Vision RT Ltd. RaySearch Laboratories AB Theragenics Corp Toshiba Medical Systems Corporation AngioDynamics Inc. Mitsubishi Electric Corporation Shinva Medical Instrument Company Limited Neusoft Medical Systems Co. Ltd.

Key Market Segments in Radiotherapy Devices Industry Research

• Product Type

  • External Beam Radiotherapy Systems
  • Linear Accelerator Devices
    • Conventional Linear Accelerators (LINAC)
  • Conventional Cobalt-60 Teletherapy units
  • Electron-emitting High-energy Linear Accelerators
  • Advanced Stereotactic Radiotherapy Units
    • CyberKnife
    • Gamma Knife
    • TomoTherapy
  • Proton Therapy Devices
    • Cyclotron
    • Synchrotron
    • Synchrocyclotron
  • Internal Beam Radiotherapy Systems
    • Brachytherapy
    • Electronic Brachytherapy Products
    • Brachytherapy Afterloaders
  • Radiotherapy Software
    • Radiotherapy Treatment Planning Software
    • Radiotherapy Dosage Planning Software
    • Radiotherapy Patient Positioning Software
    • Radiotherapy Image Guiding Software

• Procedure

  • External Beam Radiotherapy
    • Image-guided Radiotherapy
    • Intensity-modulated Radiotherapy
    • Stereotactic Therapy
    • 3D conformal radiotherapy
  • Internal Beam Brachytherapy
    • High-dose-rate Brachytherapy
    • Low-dose-rate Brachytherapy
    • Pulsed-dose-rate Brachytherapy
  • Systemic Radiotherapy
  • Intraoperative Radiotherapy
  • IORT Systems
  • Intravenous Radiotherapy
  • Oral Radiotherapy
  • Instillation Radiotherapy

• Application

  • Cancer Treatment
  • Advanced Radiotherapy Systems for Cancer Treatment
  • External Beam Radiotherapy for Prostate Cancer
  • Breast Cancer
  • Lung Cancer
  • Head and Neck Cancer
  • Colorectal Cancer
  • Internal Beam Radiotherapy for Prostate Cancer
  • Gynecological Cancer
  • Breast Cancer
  • Cervical Cancer
  • Penile Cancer

• End User

  • Hospitals
  • Independent Radiotherapy Centers