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Tumor Tracking Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

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  • 110 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 5026020
The Tumor Tracking Systems market studied is anticipated to grow with a CAGR of nearly 4.9% over the forecast period.

The COVID-19 pandemic had a major impact on the tumor tracking systems market. Cancer treatments were postponed at the beginning of the pandemic as the hospitals and surgeons were advised to postpone or cancel elective procedures. For instance, according to the study published by JAMA Network Open, in January 2021, as a result of the system- and patient-level factors related to the COVID-19 pandemic, cancer care was delayed or altered. Half of the European breast centers altered systemic treatments during the pandemic, and one-fifth of patients experienced delays in radiation therapy. Hence, COVID-19 significantly impacted cancer treatment, thereby impacting the tumor tracking systems market. However, the market is witnessing stabilized growth currently owing to the decrease in COVID-19 cases and is expected to project a similar trend over the coming years, as per the analysis.

Factors such as the increasing prevalence of tumor cancers and technological advancements are expected to drive the growth of the market over the forecast period. According to Cancer Statistics 2022, the estimated number of new cancer cases in 2022 was 1.9 million new cancer cases in the United States, and by 2040, the global burden is expected to grow to 27.5 million new cancer cases. Additionally, according to an article published in the Chinese Medical Journal, in January 2022, there were approximately 4,820,000 new cancer cases in China in 2022. Thus, with an increase in cancer cases, the demand for tumor-tracking system increase, driving the growth of the market.

The increasing product approvals, launches, partnerships, and acquisitions by key market players are projected to augment the market growth. For instance, in August 2021, Manipal Hospitals launched the Radixact X9 Tomotherapy with synchrony tumor tracking technology aimed at the precise treatment of cancer patients. The synchrony technology on the Radixact X9 system can track the tumor in the lung in real-time, which moves with the patient's natural breathing and automatically adjusts the radiation beam precisely targeting the moving tumor. Such developments are expected to boost the market growth.

Therefore, owing to the aforementioned factors, the studied market is anticipated to witness growth over the analysis period. However, a lack of skilled professionals is likely to impede market growth.

Tumor Tracking Systems Market Trends

Breast Cancer Holds Significant Share in the Global Tumor Tracking Systems Market

For instance, according to the January 2022 update by breastcancer.org, around 1 in 8 women in the United States (about 13%) develop invasive breast cancer over their lifetime. Also, according to Cancer Facts & Figures 2023, an estimated 300,590 new cases of breast cancer are expected to be diagnosed in the United States in 2023. Also, according to the Canadian Cancer Society update, in May 2022, 28,600 Canadian women were diagnosed with breast cancer, representing 25% of all new cancer cases in women in 2022. Thus, with an increase in cancer cases such as breast cancer, the demand for its treatment increase, driving the growth of the segment.

Moreover, market players focus on growth strategies such as new product launches, partnerships, mergers, and acquisitions, which drive the segment's growth over the forecast period. For instance, in October 2021, C-RAD AB partnered with Accuray Incorporated to enhance the Accuray Radixact System's ability to treat breast cancer. The companies will partner to provide customers with a solution for deep inspiration breath hold (DIBH) using the C-RAD Catalyst+ HD and Radixact System. Such initiatives undertaken are expected to contribute to the growth of the segment.

Thus, the segment is expected to witness significant growth over the forecast period due to the abovementioned factors.

North America is Expected to Show a Significant Share of the Market Over the Forecast Period

North America is expected to show significant growth over the forecast period due to factors such as an increase in the number of cancer cases. For instance, according to the American Cancer Society, in 2022, an estimated 268,490 new prostate cancer cases were identified in the United States. Such an increase in the prevalence of cancer is estimated to boost the demand for cancer treatment, ultimately driving the market's growth in the region.

Additionally, according to the Canadian Cancer Statistics update, in December 2022, it is estimated that 233,900 people were diagnosed with cancer in 2022. 1 in 24 people in Canada was diagnosed with cancer within the previous 25 years​. Further, according to the Cancer Statistics Center, in 2023, the estimated number of new cancer cases is 11,280 in the United States. Thus, as cancer cases increase the demand for cancer treatment and tracking increases, thereby driving the growth of the market.

Moreover, market players focus on growth strategies such as new product approval, launches, partnerships, mergers, and acquisitions, which are driving the growth of the segment over the forecast period. For instance, in February 2023, RefleXion Medical received the U.S. FDA grant for the marketing clearance for its SCINTIX biology-guided radiotherapy, a cutting-edge treatment applicable for early and late-stage cancers. Such development is expected to drive the growth of the regional market

Thus, all the aforementioned factors are expected to drive market growth in the North American region over the forecast period.

Tumor Tracking Systems Market Competitor Analysis

The Tumor Tracking Systems market is consolidated in nature due to the presence of a few companies operating globally and regionally. The competitive landscape includes an analysis of international and local companies that hold market shares and are well-known, including Cell Biolabs, Inc., Genekam, Menarini Silicon Biosystems, Miltenyi Biotec, QIAGEN, STEMCELL Technologies Inc., ThermoFisher Scientific, Varian Medical Systems, Inc, among others, hold the substantial market share in the market.

Additional benefits of purchasing the report:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Tumor Cancers
4.2.2 Technological Advancements
4.3 Market Restraints
4.3.1 Lack of Skilled Professional
4.4 Porter Five Forces
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Application
5.1.1 Prostate Cancer
5.1.2 Gastric Cancer
5.1.3 Lung Cancer
5.1.4 Breast Cancer
5.1.5 Others
5.2 By End User
5.2.1 Hospitals
5.2.2 Radiotherapy Centers
5.2.3 Others
5.3 Geography
5.3.1 North America United States Canada Mexico
5.3.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.3.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.3.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.3.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Cell Biolabs, Inc.
6.1.2 Elekta
6.1.3 Genekam
6.1.4 Menarini Silicon Biosystems
6.1.5 Miltenyi Biotec
6.1.6 QIAGEN
6.1.7 STEMCELL Technologies Inc.
6.1.8 ThermoFisher Scientific
6.1.9 Siemens Healthineers

Companies Mentioned (Partial List)

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

  • Cell Biolabs, Inc.
  • Elekta
  • Genekam
  • Menarini Silicon Biosystems
  • Miltenyi Biotec
  • STEMCELL Technologies Inc.
  • ThermoFisher Scientific
  • Siemens Healthineers