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Radiation Therapy Equipment - Global Market Trajectory & Analytics

  • ID: 338872
  • Report
  • March 2022
  • Region: Global
  • 508 Pages
  • Global Industry Analysts, Inc

Global Radiation Therapy Equipment Market to Reach US$7.8 Billion by the Year 2027


Amid the COVID-19 crisis, the global market for Radiation Therapy Equipment estimated at US$5.2 Billion in the year 2020, is projected to reach a revised size of US$7.8 Billion by 2027, growing at a CAGR of 5.9% over the analysis period 2020-2027. External Beam Radiation Therapy, one of the segments analyzed in the report, is projected to grow at a 6.1% CAGR to reach US$6.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Internal Radiation Therapy segment is readjusted to a revised 4.8% CAGR for the next 7-year period. This segment currently accounts for a 9.9% share of the global Radiation Therapy Equipment market.



The U.S. Accounts for Over 36.9% of Global Market Size in 2020, While China is Forecast to Grow at a 7.9% CAGR for the Period of 2020-2027


The Radiation Therapy Equipment market in the U.S. is estimated at US$1.9 Billion in the year 2020. The country currently accounts for a 36.87% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$678 Million in the year 2027 trailing a CAGR of 7.9% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 4.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.7% CAGR while Rest of European market (as defined in the study) will reach US$678 Million by the year 2027.

Systemic Radiation Therapy Segment Corners a 6.5% Share in 2020


In the global Systemic Radiation Therapy segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$288 Million in the year 2020 will reach a projected size of US$382.5 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1 Billion by the year 2027, while Latin America will expand at a 5.2% CAGR through the analysis period.

Select Competitors (Total 57 Featured) -

  • Accuray Incorporated
  • BrainLab AG
  • Elekta AB
  • GE Healthcare
  • Hitachi America, Ltd.
  • Hitachi, Ltd.
  • IBA Group
  • Nordion (Canada) Inc.
  • Philips Healthcare
  • RaySearch Laboratories AB
  • Sumitomo Heavy Industries Ltd.
  • Varian Medical Systems, Inc.

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the publisher's digital archives and Research Platform
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for Radiation Therapy Equipment

What is the estimated value of the Global Market for Radiation Therapy Equipment?

The Global Market for Radiation Therapy Equipment was estimated to be valued at $5.2 Billion in 2020.

What is the growth rate of the Global Market for Radiation Therapy Equipment?

The growth rate of the Global Market for Radiation Therapy Equipment is 6.0%, with an estimated value of $7.8 Billion by 2027.

What is the forecasted size of the Global Market for Radiation Therapy Equipment?

The Global Market for Radiation Therapy Equipment is estimated to be worth $7.8 Billion by 2027.

Who are the key companies in the Global Market for Radiation Therapy Equipment?

Key companies in the Global Market for Radiation Therapy Equipment include Accuray Incorporated, BrainLab AG, Elekta AB, GE Healthcare, Hitachi America, Ltd., IBA Group, Nordion, Inc., Philips Healthcare and Sumitomo Heavy Industries Ltd..

Table of Contents

I. METHODOLOGY


II. 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
  • Impact of COVID-19 and a Looming Global Recession
  • 2020 Marked as a Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed?
  • EXHIBIT 1: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Pandemic Impacts Radiation Oncology Services
  • Amidst the COVID-19 Pandemic, Radiation Oncology Centers Implement Workflow Changes
  • Potential Role for Radiation Therapy in Treatment of COVID-19
  • AI, Machine Learning & Other IT Technologies to Tackle Pandemic-Led Cancer Backlogs
  • Potential Role of Low-Dose Radiation Therapy for COVID-19 Treatment
  • Low-Dose and Ultra-Low Dose Radiotherapy: Treatment Modality for COVID-19-Related Pneumonia?
  • Competitive Landscape
  • EXHIBIT 2: Radiation Therapy Equipment - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for 54 Players Worldwide in 2022 (E)
  • LINACs Market: Dominated by Variant and Elekta
  • EXHIBIT 3: Global Linear Accelerators (LINACs) Market: Percentage Breakdown of Installed Base by Leading Players for 2019
  • EXHIBIT 4: Global Linear Accelerators (LINACs) Market: Percentage Breakdown of New Orders by Leading Players for 2019
  • IBA: The Predominant Player in Proton Therapy Equipment Market
  • EXHIBIT 5: Global Proton Therapy Market Breakdown by Number of PT Rooms (in %) by Leading Players: 2020
  • Treatment Planning Systems Market
  • EXHIBIT 6: Global Treatment Planning Systems Market Share Breakdown of Sales (in %) by Leading Players for 2020
  • Global Market Prospects & Outlook
  • EXHIBIT 7: 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
  • EXHIBIT 8: Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
  • EXHIBIT 9: Global Number of New Cancer Cases and Cancer-related Deaths by Cancer Site for 2020
  • EXHIBIT 10: Number of New Cancer Cases and Deaths (in Million) by Region for 2020
  • Underserved Demand for Radiation Oncology Therapy Drives Market
  • EXHIBIT 11: Projected Need for Radiation Oncology Centers, Radiation Oncologists, Medical Physicists and Radiation Technologists by the Year 2035
  • EXHIBIT 12: Percentage of Cancer Patients Treated with Radiotherapy in Select Countries
  • Increasing Healthcare Expenditure Creates Conducive Environment
  • EXHIBIT 13: World Healthcare Expenditure (In US$ Trillion) for the Years for 2017, 2019, 2021, and 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
  • EXHIBIT 14: Penetration of LINACs Worldwide: Number of LINACs Per Million Population in Select Countries
  • Proton Therapy Revolutionizes Radiation Therapy Space
  • EXHIBIT 15: Global Proton Therapy Market by Region/Country (in %) for 2022E
  • 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
  • Emphasis on Radiotherapy-based Management during COVID-19 Pandemic
  • Technical Issues Challenge Delivery of Quality of RT During COVID-19 Unlock
  • Expanding Aging Population at High Risk of Cancer to Benefit Market Expansion
  • EXHIBIT 16: Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • EXHIBIT 17: 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


III. MARKET ANALYSIS

UNITED STATES

  • Radiation Therapy Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • United States: The Prime Market for Radiation Therapy Equipment
  • Radiation Therapy in the US: An Overview
  • Rising Incidence of Cancer & Shift towards Non-Invasive Procedures Widens Market Prospects
  • EXHIBIT 18: Estimated Number of New Cancer Cases in the US by Gender and Affected Site for 2022
  • EXHIBIT 19: Estimated Number of Cancer-Related Deaths in the US by Gender and Body Site for 2022
  • EXHIBIT 20: Estimated Number of New Cancer Cases in the US by State for 2022
  • EXHIBIT 21: Estimated Number of Cancer-Related Deaths in the US by State for 2022
  • Rising Spending on Cancer Care
  • EXHIBIT 22: Cost of Cancer Care in the US: Lifetime Healthcare Spending (in $) by Cancer Type
  • EXHIBIT 23: National Spending on Cancer Care by Cancer Site (in US$ Billion) for 2015 and 2020
  • 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
  • EXHIBIT 24: US Radiotherapy Equipment Market Breakdown by Leading Players: 2022E
  • EXHIBIT 25: US Proton Therapy Equipment Market Share Breakdown of Installed Base by Company: 2022E
  • Market Analytics

CANADA

  • Market Overview
  • EXHIBIT 26: Number of New Cancer Cases by Cancer Type in Canada: 2020
  • Market Analytics

JAPAN

  • Radiation Therapy Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Market Overview
  • EXHIBIT 27: Cancer Related Incidence and Deaths in Japan: 2020
  • Competition
  • EXHIBIT 28: Japanese LINACs Market Breakdown by Competitor (in %) for 2022E
  • EXHIBIT 29: Japanese Proton Therapy Equipment Market Share Breakdown of Leading Players: 2022E
  • Market Analytics

CHINA

  • Market Overview
  • EXHIBIT 30: Number of New Cancer Cases for Both Sexes by Cancer Type for 2020
  • Competition
  • EXHIBIT 31: Chinese Radiation Therapy Equipment Market Breakdown by Leading Companies: 2022E
  • Market Analytics

EUROPE

  • Radiation Therapy Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Rising Cancer Incidence Sustains Growth in Radiation Therapy Equipment Market
  • EXHIBIT 32: Number of New Cancer Cases in Europe: 2012, 2018, and 2025
  • EXHIBIT 33: Number of Radiotherapy Centers by Type in Select European Countries
  • Competition
  • EXHIBIT 34: EMEA Radiation Therapy Equipment Market by Leading Players for 2022E
  • EXHIBIT 35: European Proton Therapy Equipment Market Share Breakdown (in %) by Competitors: 2022E
  • Market Analytics

FRANCE


GERMANY


ITALY

UNITED KINGDOM

  • Market Overview
  • EXHIBIT 36: Number of New Cancer Cases Diagnosed (in Thousands) in the UK: 2018
  • Market Analytics

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Asia-Pacific: A High Growth Market for Radiation Therapy Equipment
  • EXHIBIT 37: Cancer Incidence in Asia: Number of New Cancer Cases for 2020
  • Competitive Scenario
  • EXHIBIT 38: Asia-Pacific Radiation Therapy Equipment Market Breakdown (%) by Leading Players: 2022E
  • EXHIBIT 39: Asia-Pacific Proton Therapy Equipment Market Share Breakdown (in %) by Company for 2022E
  • Market Analytics

AUSTRALIA

INDIA

  • India Emerges as a Promising Market for Radiation Therapy Equipment
  • Competition
  • Market Analytics

SOUTH KOREA


REST OF ASIA-PACIFIC


LATIN AMERICA

ARGENTINA

  • Market Overview
  • Market Analytics

BRAZIL

  • Market Overview
  • Market Analytics

MEXICO

  • Market Overview
  • Market Analytics

REST OF LATIN AMERICA


MIDDLE EAST


IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Market Overview
  • Market Analytics

IV. COMPETITION

  • Total Companies Profiled: 57

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Accuray Incorporated
  • BrainLab AG
  • Elekta AB
  • GE Healthcare
  • Hitachi America, Ltd.
  • Hitachi, Ltd.
  • IBA Group
  • Nordion (Canada) Inc.
  • Philips Healthcare
  • RaySearch Laboratories AB
  • Sumitomo Heavy Industries Ltd.
  • Varian Medical Systems, Inc.