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Radiation Therapy Equipment - Global Strategic Business Report

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    Report

  • 508 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 338872

Global Radiation Therapy Equipment Market to Reach $9.5 Billion by 2030

The global market for Radiation Therapy Equipment estimated at US$6.1 Billion in the year 2023, is projected to reach a revised size of US$9.5 Billion by 2030, growing at a CAGR of 5.7% over the analysis period 2023-2030.

External Beam Radiation Therapy, one of the segments analyzed in the report, is projected to record 5.9% CAGR and reach US$8.1 Billion by the end of the analysis period. Growth in the Internal Radiation Therapy segment is estimated at 4.8% CAGR for the next 8-year period.

The U.S. Market is Estimated at $2.2 Billion, While China is Forecast to Grow at 7.5% CAGR

The Radiation Therapy Equipment market in the U.S. is estimated at US$2.2 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$865.9 Million by the year 2030 trailing a CAGR of 7.5% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 4.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 5.5% CAGR.

Exciting New Report Features

  • Full access to influencer engagement stats
  • Free access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.
  • Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilities
  • Full client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideas
  • Complimentary report updates for one year
  • Competitor coverage with global market shares of major players
  • Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
  • Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes

What to Expect from the Global Economy in 2024

Edgy geopolitics, and economic instability caused by monetary policy tightening and ensuing higher interest rates will create a tumultuous landscape for 2024. Several factors will continue to exert pressure on the path to recovery including hostilities in the Middle East and increasingly common climate disasters. Among the risks, several positives are also taking shape such as growing signs of disinflation and easing of anxiety over stubborn inflation, supply chain normalization and price moderation despite volatility in energy costs. Elections across several G21 jurisdictions, notably in India and the United States, will have potential ramifications for capital flows and investment strategies. While India emerges as a compelling destination in the global investment landscape, U.S, based tech firms will continue to dominate, fueled by a dynamic ecosystem of talent and capital. Tech opportunities in Silicon Valley and beyond remain attractive for investors seeking high-growth prospects supported largely by a resilient albeit slowing domestic economy and conducive regulatory environment. Europe will continue to battle tight monetary policy and recession risks with U.K. having the most challenging outlook and running the greatest risk of recession in 2024. China remains a wild card with hope for growth in the country underpinned by government spending and improvements in consumer spending. The volatile environment will offer both opportunities and challenges for investors and businesses alike. Embracing volatility as a catalyst for growth together with agility and strategic foresight in navigating investment decisions will remain important for survival.

Select Competitors (Total 57 Featured)

  • Hitachi Ltd.
  • GE HealthCare PLC
  • Hologic, Inc.
  • Elekta AB
  • Brainlab AG
  • Accuray, Inc.
  • IsoRay Medical, Inc.
  • C-RAD AB
  • Acceletronics, Inc.
  • Bionix Development Corporation
  • Best Medical International, Inc.
  • Huiheng Medical, Inc.
  • IBA Worldwide
  • .decimal, Inc.
  • Canon Medical Systems Corporation

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Radiation Therapy: An Effective, Affordable, Non-Surgical Treatment Option for Cancer Patients
  • Radiation Therapy Equipment: Enabling Best-in-Class Cancer Care
  • Global Economic Update
  • Competitive Landscape
  • Radiation Therapy Equipment - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • LINACs Market: Dominated by Variant and Elekta
  • IBA: The Predominant Player in Proton Therapy Equipment Market
  • Treatment Planning Systems Market
  • Global Market Prospects & Outlook
  • Utilization Rate (%) of Radiation Therapy by Type of Cancer
  • Developed Regions Dominate Radiotherapy Equipment Market
  • Replacement Demand Drives Revenue Growth in Developed Regions
  • Developing Regions to Spearhead Future Growth
  • World Brands
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Rising Incidence of Cancer & Need to Reduce Cancer-Related Mortality: Cornerstone for Present & Future Growth
  • Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
  • Underserved Demand for Radiation Oncology Therapy Drives Market
  • Projected Need for Radiation Oncology Centers, Radiation Oncologists, Medical Physicists and Radiation Technologists by the Year 2035
  • Percentage of Cancer Patients Treated with Radiotherapy in Select Countries
  • Increasing Healthcare Expenditure Creates Conducive Environment
  • World Healthcare Expenditure (In US$ Trillion) for the Years for 2017, 2019, 2021, 2023
  • External Beam Radiotherapy Equipment: The Largest Product Category
  • Linear Accelerator (LINAC): A Vital Constituent of EBRT
  • LINACs Replace Conventional Radiotherapy Equipment
  • MRI-LINACs Revolutionizes Cancer Care
  • Penetration of LINACs Worldwide: Number of LINACs Per Million Population in Select Countries
  • Proton Therapy Revolutionizes Radiation Therapy Space
  • Global Proton Therapy Market by Region/Country (in %) for 2024
  • Intensely-Modulated Proton Therapy (IMPT): The Future of Proton Therapy
  • High Cost: A Barrier to Adoption
  • Systemic Radiation Therapy Equipment: A Small Yet Growing Market
  • Internal Radiation Therapy Equipment: Overview
  • Intensity Modulated Radiation Therapy (IMRT) Equipment Help Hospitals Improve Outcomes
  • Stereotactic Radio Surgery Treatment Gaining Traction
  • Adaptive Radiation Therapy (ART) Gains Significance
  • Imaging Technology Plays Central Role in Radiation Therapy
  • Image Guided Radiotherapy (IGRT) Grows in Prominence
  • Surface Guided Radiation Therapy Systems Market: STable Growth Outlook
  • Oncology Information Systems (OIS): Assisting Management of Complex and Advanced Radiation Therapies
  • Data-Intensive Radiation Oncology Promotes OIS Connection to EHRs
  • Advancing Radiation Therapy Raises Importance of Treatment Planning Systems
  • Progressive Advancements Augment Use Case of Treatment Planning Platforms
  • Increasing Role of Imaging in Treatment Planning
  • Radiotherapy Positioning Devices Market: Poised for Growth
  • Innovative Therapies & NoTable Trends Revolutionize Radiation Therapy Market
  • Flash Radiation Therapy: Future Trend
  • Image-guided Radiotherapy Systems
  • Proton Therapy Becomes a Cancer Mainstream Treatment Option
  • PSMA PET: Enhancing the Care for Prostate Cancer
  • Synthetic CT from MRI Holds Significant Promise
  • Intraoperative Radiation Therapy Market
  • Hypofractionation and Advanced Imaging Integration to Deliver Greater Radiation Therapy Outcomes
  • Technological Innovations Spur Radiation Therapy Equipment Market
  • Hybrid Systems Enable Superior Treatment Efficacy
  • Computer Simulators Improve Radiation Therapy Outcomes
  • Need to Boost Productivity Accelerates Deployment of High-Tech Equipment
  • Personalized Radiation Therapy: The Way Forward
  • Promising Role of Brachytherapy Device and Intensity-Modulated Radiation for Eye Cancer Treatment
  • Digital Solution Enhances RT Planning Process Efficiency
  • Deep Learning Technology
  • Select Innovations in Radiation Therapy Space
  • Theragnostics - An Emerging Treatment Modality Backed by Imaging
  • Artificial Intelligence and Machine Learning in Radiotherapy Treatment
  • Select Uses of AI in Radiation Therapy Devices
  • Integration of AI and Rising Speed of Treatment Planning Systems
  • Technology-driven Research for Development in Radiotherapy
  • Refurbished Radiation Therapy Equipment: Changing with the Times
  • WHO/IAEA Presents Guidance on Radiation Therapy Equipment
  • Expanding Aging Population at High Risk of Cancer to Benefit Market Expansion
  • Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • Elderly Population (65+ Years) as a % of Total Population by Developed, Less Developed and Least Developed Regions: 2019 & 2030
  • Challenges Confronting Radiation Therapy Equipment Market
  • Radiation Therapy: Product Overview
  • Types of Radiation Therapy
  • External Beam Radiation Therapy (EBRT/XRT) or Teletherapy
  • Internal Beam Radio Therapy/Brachytherapy
  • Systemic Radioisotope Therapy (RIT)
  • Other Forms of Radiation Therapy
  • Linear Accelerators (LINACs)
  • Radiation Therapy Simulator
  • Treatment Planning System: An Innovative Technique in Radiation Therapy
  • Radiotherapy Accessories
  • Tumor Localization and Treatment Simulation Devices
  • Patient Restraint and Repositioning Devices
  • Field-Shaping Devices
  • Dose-Modifying Devices
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Radiation Therapy Equipment by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 2: World Historic Review for Radiation Therapy Equipment by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 3: World 16-Year Perspective for Radiation Therapy Equipment by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030
  • Table 4: World Recent Past, Current & Future Analysis for External Beam Radiation Therapy by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 5: World Historic Review for External Beam Radiation Therapy by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 6: World 16-Year Perspective for External Beam Radiation Therapy by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Internal Radiation Therapy by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 8: World Historic Review for Internal Radiation Therapy by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 9: World 16-Year Perspective for Internal Radiation Therapy by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 10: World Recent Past, Current & Future Analysis for Systemic Radiation Therapy by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 11: World Historic Review for Systemic Radiation Therapy by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 12: World 16-Year Perspective for Systemic Radiation Therapy by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 13: World Recent Past, Current & Future Analysis for Hospitals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 14: World Historic Review for Hospitals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 15: World 16-Year Perspective for Hospitals by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 16: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 17: World Historic Review for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 18: World 16-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 19: World Radiation Therapy Equipment Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030
III. MARKET ANALYSIS
UNITED STATES
  • Radiation Therapy Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
  • United States: The Prime Market for Radiation Therapy Equipment
  • Radiation Therapy in the US: An Overview
  • Replacements Drive Unit Installations
  • Innovations Propel Market Growth
  • External Radiation Therapy: The Most Common Type of RT Treatment for Cancer
  • Proton Therapy Gaining Traction in Cancer Care
  • IMRT: Enabling Precise Treatments for Specific Cancers
  • Systemic Radiotherapy Market: High Therapy Costs Limit Growth Opportunities
  • Treatment Planning Software Holds Prominence
  • Reimbursement Rates for Cancer Treatment with Radiation Indicate NoTable Disparity among States
  • Oncology Care Model to Improve Quality and Reduce Financial Toxicity of Cancer Care
  • Competition
  • US Radiotherapy Equipment Market Breakdown by Leading Players: 2022E
  • US Proton Therapy Equipment Market Share Breakdown of Installed Base by Company: 2022E
CANADA
  • Market Overview
JAPAN
  • Radiation Therapy Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
  • Competition
  • Japanese LINACs Market Breakdown by Competitor (in %) for 2022E
  • Japanese Proton Therapy Equipment Market Share Breakdown of Leading Players: 2022E
CHINA
  • Competition
  • Chinese Radiation Therapy Equipment Market Breakdown by Leading Companies: 2022E
EUROPE
  • Radiation Therapy Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
  • Rising Cancer Incidence Sustains Growth in Radiation Therapy Equipment Market
  • Number of New Cancer Cases in Europe: 2012, 2018, and 2025
  • Number of Radiotherapy Centers by Type in Select European Countries
  • Competition
  • EMEA Radiation Therapy Equipment Market by Leading Players for 2022E
  • European Proton Therapy Equipment Market Share Breakdown (in %) by Competitors: 2022E
FRANCEGERMANYITALY
UNITED KINGDOM
  • Market Overview
  • Number of New Cancer Cases Diagnosed (in Thousands) in the UK: 2018
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Asia-Pacific: A High Growth Market for Radiation Therapy Equipment
  • Cancer Incidence in Asia: Number of New Cancer Cases for 2020
  • Competitive Scenario
  • Asia-Pacific Radiation Therapy Equipment Market Breakdown (%) by Leading Players: 2022E
  • Asia-Pacific Proton Therapy Equipment Market Share Breakdown (in %) by Company for 2022E
AUSTRALIA
INDIA
  • India Emerges as a Promising Market for Radiation Therapy Equipment
  • Competition
SOUTH KOREAREST OF ASIA-PACIFICLATIN AMERICA
ARGENTINA
  • Market Overview
BRAZILMEXICOREST OF LATIN AMERICAMIDDLE EASTIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Market Overview
IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Hitachi Ltd.
  • GE HealthCare PLC
  • Hologic, Inc.
  • Elekta AB
  • Brainlab AG
  • Accuray, Inc.
  • IsoRay Medical, Inc.
  • C-RAD AB
  • Acceletronics, Inc.
  • Bionix Development Corporation
  • Best Medical International, Inc.
  • Huiheng Medical, Inc.
  • IBA Worldwide
  • .decimal, Inc.
  • Canon Medical Systems Corporation

Table Information