As per Fact.MR, a market research and competitive intelligence provider, the global radiotherapy devices market is anticipated to top US$ 10 Bn by 2031, progressing at a robust CAGR of 7% over the decade.
Radiotherapy devices are a wide range of medical devices used in radiation therapy. These devices can produce an accurate amount of high-energy radiation, which is further delivered on targeted areas of a patient’s body. General characteristics of a radiotherapy device include emission of electrons, photons, and other fast-moving subatomic particles, and the use of X-ray tubes to build contact between the device and the targeted area in a patient’s body.
Medical professionals and cancer patients, both, are driving the adoption of radiotherapy devices due to their advantage in lowering the hospital stay of patients and controlling the growth of cancerous tumors. As radiotherapy continues to gain traction for being the most coveted treatment of a wide range of cancers, the global market for radiotherapy devices continues to expand exponentially.
Key Takeaways from Market Study
- Global radiotherapy devices market to top US$ 10 Bn by 2031.
- Linear accelerator devices projected to reach around US$ 4.5 Bn by 2031.
- Systemic radiotherapy expected to record above 5% CAGR over the next 10 years.
- Internal beam radiotherapy systems to reach valuation of US$ 1.2 Bn by 2031.
- Market in Europe holds global share of more than 50%.
- Market in South Korea to record 4% CAGR over forecast period of 2021- 2031.
“Higher efficacy of radiotherapy devices, increasing introduction of novel therapies, and rising number of government initiatives for cancer care are major factors expected to drive demand for radiotherapy devices over the coming years,” says a Fact.MR analyst.
How are Technological Advancements in Radiotherapy Devices Fueling Market Growth?
Technology is assisting in the development of low-cost, more effective and efficient, and user-friendly solutions with radiotherapy products with improved and precise radiation dose delivery for improved tumor targeting performance.
High conformity of radiation to the target (with little exposure to normal tissue) and dose escalation with enhanced tumor control have been possible by the advancement from 2D to 3D conformal radiotherapy with real-time imaging.
Products that give these advantages are projected to have a very high growth potential in a short period of time, particularly in established markets where latest radiotherapy machines are widely adopted.
Such advanced technologies in radiotherapy software aim to improve the functionality of radiotherapy delivery systems while also broadening their scope of application. One of the primary factors driving the growth of the radiotherapy positioning devices market is increasing the acceptance of radiation therapy devices in a variety of applications and settings.
Latest innovations in radiotherapy devices, growing demand for external beam therapy (EBT), and rising sales of electron-emitting high-energy linear accelerators are projected to fuel the market growth over the forecast period.