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Radiotherapy is a treatment for cancer which uses beams of high energy radiation to kill cancer tissues in the body. This therapy stops cancer cells from multiplying. Also called radiation therapy, radiotherapy is emerging as a major technology for killing the cancer disease.
A new market research report by Transparency Market Research, titled “Radiotherapy Market (Products & Applications) - Global Scenario, Trends, Industry Analysis, Size, Share and Forecast 2011 – 2018,” presents the prime market forces responsible for impeding and stimulating the growth of the radiotherapy market. The report also throws light on the technological development predicted to be seen as well as the present condition of the market. The study includes the upcoming opportunities in the market and identifies the prime companies influencing the market globally as well as in particular regions. The macro and micro factors impacting the global market for radiotherapy have also been analyzed in this study.
The radiotherapy market stood at more than US$4.7 bn in 2012 and is anticipated to reach more than US$6 bn by 2018. It is predicted to rise at a CAGR of approximately 5.50% between 2012 and 2018. According to the report, the market for radiotherapy is fuelled by the rising aging population, the rising incidence of cancer, the emergence of specific treatment planning systems, and the rising demand for accurate diagnosis. In addition, a number of technological advancements in radiotherapy devices have also impacted the market positively.
As per this report, on the basis of product, the market is segmented into external radiotherapy, systemic radiotherapy, and internal radiotherapy (brachytherapy) devices. Amongst these, the segment of external radiotherapy led the market in 2012 and is trailed by the segments of systematic radiotherapy devices and internal cancer theray devices. In terms of technology, the report segments the market into external beam radiation therapy, intensity modulated radiotherapy (IMRT), image-guided radiotherapy (IGRT), proton beam therapy, stereotactic technology, 3D conformal radiotherapy (3D CRT), tomotherapy, volumetric modulated arc therapy (VMAT), low dose rate, internal beam radiotherapy, high dose rate, and systematic radiation therapy.
On the basis of geography, the report segments the radiotherapy market into Asia Pacific, North America, Europe,Hope 4 Cancer treatments and Rest of the World (RoW). Amongst these, North America held the largest share in the market in 2012 and was trailed by Europe. On the other hand, the region of Asia Pacific is the most swiftly growing market for radiotherapy owing to economical infrastructural and procedural costs driving patients from developed regions to countries such as India and China for treatment purposes.