Global Radiotherapy Market - Segmented by Type, Application, End-user, and Geography - Growth, Trends, and Forecast (2018 - 2023)

  • ID: 4520238
  • Report
  • Region: Global
  • 112 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • CARDINAL HEALTH
  • GE HEALTHCARE
  • IBA
  • ISORAY
  • MIRADA MEDICAL
  • NORDION
  • MORE
The Radiotherapy Market is expected to witness a CAGR of 6.9% during the forecast period (2018-2023). The Radiotherapy Market was worth USD 7197.57 million in 2017 and is expected to display a promising upward growth in the next 5 years.

Reduced Cost of Cancer Treatment

Over the years, it has been observed that the cost of radiotherapy treatment has decreased substantially. The reduced cost of the cancer treatment can be attributed to the insurance coverage, and the cost varies from region to region. The average cost for a course of radiotherapy per patient was USD 8,600 for breast cancer, USD 9,000 for lung cancer, and USD 18,000 for prostate cancer. However, out-of-pocket expenses are about USD 10,000 to USD 50,000 or more, depending on the type of cancer and the number of sessions required. Therefore, along with favorable healthcare policies, the average cost of cancer treatment is expected to reduce during the forecast period, driving the cancer-affected population to consider opting for low range cost-effective treatment methods, like radiotherapy. In turn, this trend is expected drive the growth of the global market during the forecast period.

Other factors driving the radiotherapy market include, technological advancements in radiotherapy products, rise in number of geriatric population, lucrative reimbursement plans, and huge government and non-government investments in the R&D of cancer treatment.

Shortage of Skilled Personnel to Perform the Radiotherapy

The implementation of the advanced radiotherapy is expected to be hampered by the shortage of staff confidence and the training required by the staff. According to the American College of Radiology 2015 Commission on Human Resources Workforce survey findings, the number of general radiologists has fallen by almost half in the past two years, now accounting for 12.8% of all radiologists. Also around 7% of all radiologists are older than 65 years, and 22% are between the ages of 56 and 65 years, the looming retirement of a substantial portion of the radiology workforce threatens to create an additional need for specialized workforce. Factors such as, shortage of staff, and the lack of trained radiographers are expected to restrict the global market over the forecast period.

Other restraining factors include, competent alternative treatments and the fact that radiotherapy is not effective for metastasized state of cancer.

North America Dominates the Market

North America has accounted for the largest share of the market in 2016, followed by Europe. There are numerous factors for the United States to dominate the market, which include technological advancements in radiotherapy equipment, growing number of cancer cases, and the rising focus of the major players on expanding their presence in region. The Asia-Pacific region is expected to grow at the fastest rate, due to the increasing number of cancer patients, which is expected to drive the radiotherapy market.

Key Developments in the Market
  • November 2017: Toshiba Medical launched New MR Solution to enhance Oncology Radiation Therapy. They have introduced the Galan RT Solutions suite of radiation therapy tools. Galan RT Solutions allows healthcare providers to precisely map the MR data to PET/CT images to develop confident plans for radiation therapy and prioritize exceptional patient care.
Major Players: GE HEALTHCARE, SIEMENS, TOSHIBA, IBA, VARIAN, CARDINAL HEALTH, NORDION, ISORAY, RADCALC, AND MIRADA MEDICAL, amongst others.

Reasons to Purchase this Report
  • Current and future global Radiotherapy Market outlook in the developed and emerging markets
  • Various perspectives of the market, with the help of Porter’s five forces analysis
  • The segment expected to dominate the market
  • The region expected to witness the fastest growth rate during the forecast period
  • The latest developments, market shares, and strategies that are employed by the major market players
  • 3 months analyst support, along with the Market Estimate sheet (in Excel)
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • CARDINAL HEALTH
  • GE HEALTHCARE
  • IBA
  • ISORAY
  • MIRADA MEDICAL
  • NORDION
  • MORE
1. Introduction
1.1 Market Definition

2. Research Methodology

3. Executive Summary

4. Key Inferences

5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Force Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Product and Services
5.2.5 Competitive Rivalry Within the Industry

6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
6.1 Market Drivers
6.1.1 Rise in the Number of Geriatric Population
6.1.2 Reduction in the Cost of Treatment
6.1.3 Lucrative Reimbursement Plans
6.1.4 Huge Government and Non-Government Investments in R&D of Cancer Treatment
6.1.5 Technological Advancements in Radiotherapy Products
6.2 Market restraints
6.2.1 Lack of Skilled Personnel to Perform Radiotherapy
6.2.2 Competent Alternative Treatment
6.2.3 Not Effective for Metastasized State Of Cancer
6.3 Opportunities
6.4 Key Challenges

7. Market Segmentation
7.1 By Type
7.1.1 External Beam Radiation Therapy
7.1.1.1 Intensity-Modulated Radiation Therapy (IMRT)
7.1.1.2 Image-Guided Radiation Therapy (IGRT)
7.1.1.3 Tomotherapy
7.1.1.4 Stereotactic Radiosurgery
7.1.1.5 Stereotactic Body Radiation Therapy
7.1.1.6 Proton Therapy
7.1.2 Internal Radiation Therapy
7.1.3 Systemic Radiation Therapy
7.2 By Application
7.2.1 Skin & Lip Cancer
7.2.2 Head & Neck Cancer
7.2.3 Breast Cancer
7.2.4 Prostate Cancer
7.2.5 Cervical Cancer
7.2.6 Lung Cancer
7.2.7 Spine Cancer
7.2.8 Others
7.3 By End-user
7.3.1 Hospitals
7.3.2 Cancer Research Institutes
7.3.3 Ambulatory & Radiotherapy Centers
7.4 By Geography
7.4.1 North America
7.4.1.1 United States
7.4.1.2 Canada
7.4.1.3 Mexico
7.4.2 Europe
7.4.2.1 France
7.4.2.2 Germany
7.4.2.3 United kingdom
7.4.2.4 Italy
7.4.2.5 Spain
7.4.2.6 Rest of Europe
7.4.3 Asia-Pacific
7.4.3.1 China
7.4.3.2 Japan
7.4.3.3 India
7.4.3.4 Australia & New Zealand
7.4.3.5 South Korea
7.4.3.6 Rest of Asia-Pacific
7.4.4 Middle East & Africa
7.4.4.1 GCC
7.4.4.2 South Africa
7.4.4.3 Rest of Middle East & Africa
7.4.5 South America
7.4.5.1 Brazil
7.4.5.2 Argentina
7.4.5.3 Rest of South America

8. Competitive Landscape
8.1 Mergers and Acquisition Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Products Launches

9. Key Players
9.1 GE Healthcare
9.2 Siemens
9.3 Toshiba
9.4 IBA
9.5 Varian
9.6 Cardinal Health
9.7 Nordion
9.8 Isoray
9.9 Radcalc
9.10 Mirada Medical
9.11 List Not Exhaustive

10. Future of the Market
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  • GE HEALTHCARE
  • SIEMENS
  • TOSHIBA
  • IBA
  • VARIAN
  • CARDINAL HEALTH
  • NORDION
  • ISORAY
  • RADCALC
  • MIRADA MEDICAL
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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