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Radiation Therapy Equipment - Global Market Trajectory & Analytics

  • ID: 338872
  • Report
  • April 2021
  • Region: Global
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Accuray Incorporated
  • BrainLab AG
  • Elekta AB
  • GE Healthcare
  • Hitachi America, Ltd.
  • IBA Group
The Practice of Oncology Remains the Worst Affected by COVID-19. The Grim Scenario Sends Demand for Radiation Therapy Equipment Slumping by -4.8%

The global market for Radiation Therapy Equipment is expected to decline by -4.8% in the year 2020 and thereafter recover to reach US$6.9 billion by the year 2027, trailing a post COVID-19 CAGR of 4.2% over the analysis period 2020 through 2027. Six months into the pandemic, the COVID-19 crisis continues to evolve and shows no signs of receding. The pandemic has impacted all areas of healthcare provision, including cancer care and has necessitated the prioritization of healthcare infrastructure for COVID-19 patients, affecting other patients across the world. With all elective surgeries cancelled and postponed there has been a significant drop in imaging procedures. CT & MRI imaging for cancer in outpatient clinics & primary care especially is bearing the brunt of the disruptions. Increase in chest screening as part of COVID-19 management is but only partially offsetting the decline in routine imaging. Over 40% of cancer surgeries scheduled worldwide have been postponed or cancelled till date. The low level of screening is not only raising the risk of missed, delayed diagnosis and higher mortality but is also resulting in business losses for radiation therapy equipment. The medical equipment market, including the radiation therapy equipment market has been facing severe headwinds. Compared to the pre-COVID-19 period, there has been a decline in urgent referrals from general practitioners to cancer services for people suspected to having the disease and also a drop in chemotherapy appointments from cancer patients. There have been postponements in screenings and delays in diagnosis and treatments. Delays in treatments or late diagnosis can lead to growth in tumor and bad prognoses. They can lead to significant backlogs of treatment required, which would need to be performed later on. As healthcare establishments prioritize on preserving cash and cancel or postpone purchase of new equipment, demand for radiation therapy equipment is expected to be weak in the near term.

However in the post COVID-19 period, the return to growth will be led by pent-up demand for cancer treatment and diagnosis. The equipment for radiation therapy have come a long way from basic X-ray systems rolled out in 1890s to modern IMRT and IGRT systems capable of delivering precise, effective and affordable treatment to cancer patients. The discovery of X-rays in the year 1895, marked a significant development in the field of radiation therapy for cancer treatment. Radium remained highly popular until the mid-1900s, particularly for use in research and medical treatment applications; and was later replaced by cesium and cobalt units. Medical linear accelerators came into existence as radiation sources in late 1940s, and continue to be used in modern times. Megavoltage linear accelerators have largely replaced cobalt and orthovoltage units, due to their substantial penetrating energies as well as lack of physical radiation source. In 1971, Godfrey Hounsfield invented computed tomography (CT), which conceptualized the possibility of 3D planning. 3D CRT was first made available in the 1980s. CT-based planning enabled physicians to determine accurate dose distribution, by carefully analyzing the patient's axial tomographic images. The introduction of more advanced imaging technologies such as magnetic resonance imaging (MRI) and positron emission tomography (PET) brought a further shift in radiotherapy from 3D conformal therapy to image-guided radiation therapy (IGRT) and intensity-modulated radiation therapy (IMRT). Advanced radiation therapies such as IGRT and IMRT offer several benefits such as less side effects and better patient outcomes.

As the burden of cancer on the overall healthcare industry continues to grow, advent of new technologies and treatment techniques is expected to spur growth in the radiation therapy equipment market and also transform the manner in which cancer treatments are planned and the way in which doses are delivered. Advances in radiotherapy technology, focused on improving treatment efficacy, have led to the development of stereotactic radiosurgery techniques, which reduce exposure of normal tissue to radiation and allow patients to resume normal life in about 2 days following treatment. Conventional radiotherapy systems as well as advanced procedures including IGRT, IMRT, stereotactic radiosurgery (SRS), proton therapy and stereotactic body radiotherapy (SBRT) are gaining widespread acceptance in cancer treatment. Proton therapy is emerging as a preferred option for cancer treatment owing to the relatively less risk associated with the procedure. IGRT market is also expected to grow rapidly, since the approach significantly cuts down long-term side effects associated with the treatment. The gradual transition from traditional technologies to highly complex, resource intensive treatment procedures such as 4D imaging, nanotechnology, intensity-modulated radiotherapy, particle therapy and stereotactic body radiation therapy is facilitating clinicians to improve the accuracy and precision of radiotherapy.

Select Competitors (Total 56 Featured):
  • Accuray Incorporated
  • BrainLab AG
  • Elekta AB
  • GE Healthcare
  • Hitachi America, Ltd.
  • IBA Group
  • Nordion, Inc.
  • Philips Healthcare
  • RaySearch Laboratories AB
  • Sumitomo Heavy Industries Ltd.
  • Varian Medical Systems, Inc.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Accuray Incorporated
  • BrainLab AG
  • Elekta AB
  • GE Healthcare
  • Hitachi America, Ltd.
  • IBA Group
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of COVID-19 and a Looming Global Recession
  • Amidst the COVID-19 Pandemic, Radiation Oncology Centers Implement Workflow Changes
  • Potential Role for Radiation Therapy in Treatment of COVID-19
  • Radiation Therapy: An Effective, Affordable, Non-Surgical Treatment Option for Cancer Patients
  • Radiation Therapy Equipment: Enabling Best-in-Class Cancer Care
  • Global Radiation Therapy Equipment Market: Prospects & Outlook
  • Exhibit 1: 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
  • Competition
  • Exhibit 2: Global Radiation Therapy Equipment Market Breakdown of Revenues (in %) by Leading Players for 2019
  • Exhibit 3: Gross Order Value (in $ Million) of Select Companies in the Radiation Therapy Equipment Market: 2019
  • LINACs Market: Dominated by Variant and Elekta
  • Exhibit 4: Global Linear Accelerators (LINACs) Market: Percentage Breakdown of Installed Base by Leading Players for 2019
  • Exhibit 5: 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 6: Global Proton Therapy Market Breakdown by Sales (in %) by Leading Players: 2019
  • Treatment Planning Systems Market
  • Exhibit 7: Global Treatment Planning Systems Market Share Breakdown of Sales (in %) by Leading Players for 2019
  • 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 2018
  • Exhibit 10: Number of New Cancer Cases and Deaths (in Million) by Region for 2018
  • 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, 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 for 2019
  • Proton Therapy Revolutionizes Radiation Therapy Space
  • Exhibit 15: Global Proton Therapy Market by Region/Country (in %) for 2020E
  • 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
  • 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 Revolutionize Radiation Treatment
  • Flash Radiation Therapy: Future Trend
  • Intraoperative Radiation Therapy Market
  • 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
  • Select Innovations in Radiation Therapy Space
  • Artificial Intelligence and Machine Learning in Radiotherapy Treatment
  • Technology-driven Research for Development in Radiotherapy
  • Refurbished Radiation Therapy Equipment: Changing with the Times
  • 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
  • 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 2020E
  • Exhibit 19: Estimated Number of Cancer-Related Deaths in the US by Gender and Body Site for 2020E
  • Exhibit 20: Estimated Number of New Cancer Cases in the US by State for 2020
  • Exhibit 21: Estimated Number of Cancer-Related Deaths in the US by State for 2020E
  • Rising Spending on Cancer Care
  • Exhibit 22: Cost of Cancer Care in the US: Lifetime Healthcare Spending (in $) by Cancer Type
  • 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 23: US Radiotherapy Equipment Market Breakdown by Leading Players: 2019
  • Exhibit 24: US Proton Therapy Equipment Market Share Breakdown of Installed Base by Company: 2019
  • CANADA
  • Market Overview
  • Exhibit 25: Number of New Cancer Cases in Canada: 2019
  • JAPAN
  • Market Overview
  • Exhibit 26: Cancer Related Incidence and Deaths in Japan: 2019
  • Competition
  • Exhibit 27: Japanese LINACs Market Breakdown by Competitor (in %) for 2019
  • Exhibit 28: Japanese Proton Therapy Equipment Market Share Breakdown of Leading Players: 2019
  • CHINA
  • Market Overview
  • Exhibit 29: Number of New Cancer Cases Diagnosed (in Thousands) in China: 2018
  • Competition
  • Exhibit 30: Chinese Radiation Therapy Equipment Market Breakdown by Leading Companies: 2019
  • EUROPE
  • Rising Cancer Incidence Sustains Growth in Radiation Therapy Equipment Market
  • Exhibit 31: Number of New Cancer Cases in Europe: 2012, 2018, and 2025
  • Exhibit 32: Distribution of New Cancer Cases by Type in Europe: 2018
  • Exhibit 33: Number of Radiotherapy Centers by Type in Select European Countries
  • Competition
  • Exhibit 34: EMEA Radiation Therapy Equipment Market by Leading Players for 2019
  • Exhibit 35: European Proton Therapy Equipment Market Share Breakdown (in %) by Competitors: 2019
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • Market Overview
  • Exhibit 36: Number of New Cancer Cases Diagnosed (in Thousands) in the UK: 2018
  • 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 (in Thousands) for 2019
  • Competitive Scenario
  • Exhibit 38: Asia-Pacific Radiation Therapy Equipment Market Breakdown (%) by Leading Players: 2019
  • Exhibit 39: Asia-Pacific Proton Therapy Equipment Market Share Breakdown (in %) by Company for 2019
  • AUSTRALIA
  • INDIA
  • India Emerges as a Promising Market for Radiation Therapy Equipment
  • Competition
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • Market Overview
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
  • Market Overview
IV. COMPETITION
  • Total Companies Profiled: 56
Note: Product cover images may vary from those shown
  • Accuray Incorporated
  • BrainLab AG
  • Elekta AB
  • GE Healthcare
  • Hitachi America, Ltd.
  • IBA Group
  • Nordion, Inc.
  • Philips Healthcare
  • RaySearch Laboratories AB
  • Sumitomo Heavy Industries Ltd.
  • Varian Medical Systems, Inc.
Note: Product cover images may vary from those shown
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