Radiotherapy Market: Market Growth, Size, Share, Trends, Key Players, Competitive Intelligence 2013 to 2017 and Forecast 2018 to 2024
Radiotherapy Market report offers Market Size, Dynamics, Regional Market Share, Top Key Players, Latest trends, Growth factors, Industry Stats, Historic Market, Business Intelligence, Business Research Reports, Competitive Intelligence 2013 to 2017 and Forecast 2018 to 2024
Radiotherapy is likewise called as radiation treatment. Radiotherapy alludes to utilizing radiation, for example, electronic pillars, protons, X-beams and others to treat the ailments. Radiation treatment used to slaughter the malignancy cells. At the point when body tissue presented to radiation, growth cells and typical cells both are influenced however ordinary cells as a rule repair themselves while malignancy cells can’t. Radiotherapy utilized as a part of numerous courses, for example, corrective radiotherapy (to cure malignancy totally), chemo radiation (make other treatment more powerful, for example, radiotherapy frequently utilized alongside chemotherapy), Adjuvant treatment (lessen danger of disease after surgery) and palliative treatment (soothing indications of tumor). Radiotherapy can be given by utilizing outer gadgets, inserts or radiotherapy infusions in light of the condition.
Radiotherapy advertise for the most part is driven by increment in rate and commonness of growth and ascend sought after for the non-intrusive treatments of malignancy comprehensively. As indicated by World Health Organization (WHO), growth is evaluated to be one of the main source of passings around the world. In 2012, 14 Mn new tumor cases are analyzed and new disease cases will ascend to 22 Mn inside next two decades. Furthermore, innovative advances in radiotherapy, for example, picture guided radiation treatment (IMRT) and increment in adjustment of radiotherapy to treat growth are relied upon to support the radiotherapy showcase over the figure time frame. Besides, creating social insurance framework and positive government approaches are relied upon to help the market. In any case, high cost of gear, treatment and reactions are limiting the radiotherapy advertise comprehensively amid the conjecture time frame.
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Global radiotherapy market is segmented based on device type and end-user
Based on device type, radiotherapy market is segmented into
- External Radiotherapy
- Internal Radiotherapy (Brachytherapy)
- Systemic Radiotherapy
Based on end-user, radiotherapy market is segmented into
- Hospitals
- Diagnostic Centres
- Ambulatory surgical centres
- Radiotherapy Centres
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Market players are focus on product innovations and product launches to increase their market share and to sustain their positions in the radiotherapy market. In June 2017, Varian medical System received clearance from U.S. FDA to launch its new device, Halyon System to treat cancer. Furthermore, companies adopting strategies such as mergers and acquisitions to strengthen their market in radiotherapy segment. For instance in 2011, Elekta AB acquired Nucletron- a leader in brachytherapy treatment planning and delivery- to strengthen their radiotherapy product portfolio. Academic and research institutions are also contributing to radiation therapy development by collaborating with market players. For instance, in March 2016, Weill Cornell Medicine, a biomedical research unit and medical school formed a strategic alliance with the Janssen Biotech, Inc. (Johnson & Johnson Services Inc.,) to study the preclinical efficiency of combining external radiotherapy with Janssen’s immune oncology drugs.
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Geographically radiotherapy market has been segmented into following regions viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America radiotherapy market expected to grow at notable rates owing to technological advancements, well-established healthcare infrastructure and favourable government policies. In addition growing prevalence of cancer expected to boost the radiotherapy market in this region. According to National Cancer Institute (NIH) estimated that in 2016, 1,685,210 new cases of cancer will be diagnosed in the united states. A number of new cases of cancer is 454.8 per 100,000 men and woman per year. Europe radiotherapy market expected to grow at significant rate owing to increase in cancer incidents and rise in adaptation of radiotherapy in the treatment of cancer. Asia Pacific radiotherapy market expected to grow at higher rate owing to increase in cancer cases, developing healthcare infrastructure and rising disposable income. According to WHO, more than 60% of new cancer cases occur in Asia, Africa and Central and South America.
Some of the players in radiotherapy market are Varian Medical Systems, Inc. (U.S.), Ion Beam Applications (IBA) (Belgium), Accuray Incorporated (U.S.), Nordion, Inc. (Canada), Elekta AB (Sweden), Isoray Medical, Inc. (U.S.), C. R. Bard, Inc. (U.S.), ViewRay, Inc. (U.S.), RaySearch Laboratories (Sweden), Mitsubishi Electric Corporation (Japan), iCad Inc (Xoft) (U.S.), and Mevion Medical Systems, Inc. (U.S.) to name a few.
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