5 Projections on How Radiotherapy Devices Market will Grow by 2022-end
Published : 29 Jul 2017 Industry: Healthcare
With increasing risks of obtaining cancer treatment through chemotherapy, patients as well as medical professionals are turning towards radiotherapy as a sought-after oncological treatment for cancers. The Fact.MR report on global radiotherapy devices market predicts that towards the end of 2022, more than US$ 7 Bn worth of devices will be sold across the globe, reflecting a stellar CAGR. Following insights from the report will offer a comprehensive outlook on the future of radiotherapy devices in the global healthcare industry during 2017-2022.
Key Projections on the Global Radiotherapy Devices Market:
- In 2017, global sales of linear accelerator devices is expected to procure nearly half of global radiotherapy devices market value. The sales of linear accelerators for radiotherapy is expected to gain steadfast traction, procuring an annual growth of more than US$ 280 Mn from 2017 to 2022.
- 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. The demand for radiotherapy devices is expected to gain traction in Europe owing to its advantage over other cancer therapeutic devices in terms of controlling the growth of the malignant tumors. Moreover, cancer patients are likely to remain more inclined towards radiotherapy devices that limit the hospital stay duration. According to the report, Europe will remain the largest market for radiotherapy devices throughout the forecast period.
- In North America, changing lifestyles of consumers and penetration of urban cultures is fuelling the incidence of pancreatic cancer. Radiotherapy devices are expected to remain of great use in treatment of pancreatic cancer and borderline resectable cancer. The radiotherapy devices market in North America is expected to witness robust gains throughout the forecast period.
- Manufacturers of radiotherapy devices are expected to view the Asia-Pacific excluding Japan (APEJ) region as lucrative for setting up production units. Favorable industrial regulations, low wages and high resource availability is expected to drive the growth of radiotherapy devices market in the APEJ region. The report predicts that the APEJ radiotherapy devices market is expected to grow at the fastest pace, reflecting a stellar CAGR of 11.5% through 2022.
- Towards the end of 2022, hospitals will emerge to be the largest end-users of radiotherapy devices. The demand for radiotherapy devices in oncological treatment centers is also anticipated to gain traction, procuring over one-fourth share on global market values throughout the forecast period.
The report has profiled leading manufacturers of radiotherapy devices which are expected to remain active in the expansion of global market, and these include Varian Medical Systems, RaySearch Laboratories AB, Theragenics Corp, Toshiba Medical Systems Corporation, Elekta AB, Accuray, Inc., IsoRay, Inc., GE Healthcare, Vision RT Ltd., C.R. Bard, Inc., Koninklijke Philips N.V., Siemens AG, IBA Ion Beam Applications SA, Eckert & Ziegler Bebig, Mitsubishi Electric Corporation, Shinva Medical Instrument Company Limited, Neusoft Medical Systems Co., Ltd. and AngioDynamics, Inc.