MRI-Guided Radiation Therapy Systems Market Is Projected To Record A CAGR Of Approximately 20% Through 2028
The relatively new technology for integrating magnetic resonance imaging (MRI) with radiation therapy is becoming increasingly prevalent, with revenues from the MRI-guided radiation therapy systems market exceeding US$ 220 Mn in 2018, according to a recent study by Fact.MR. This remarkable growth potential of the MRI-guided radiation therapy systems market can be attributed to burgeoning adoption of innovative technologies in the cancer diagnosis & treatment, alongside growing focus on patient-centric care.
The study assesses macro and microeconomic factors that define the growth prospects of the MRI-guided radiation therapy systems market. It finds that leading players in the rapidly-growing healthcare sector are vying for new techniques in cancer treatment to compensate for involuntary patient movements and improve precision to a much higher degree. In addition, the paradigm shift in preference of cancer patients towards radiation therapies, from invasive to non-invasive procedures, is expected to remain instrumental in adoption of MRI-guided radiation therapy systems in cancer care.
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Key Segments of MRI-guided Radiation Therapy Systems Market
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Product Type
- Linac MR-RT Systems
- Software
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MR Dimensions
- 0.5 Tesla MR Scanner
- 1.5 Tesla MR Scanner
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End User
- Hospitals
- Radiotherapy Centers
- Radiotherapy Centers
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Regions
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
MRI-guided Radiation Therapy Systems Market – Competitive Landscape
The technology used in MRI-guided radiation therapy systems is relatively new, and the market is yet at its infancy. Implementing a new technology to introduce an innovative radiation therapy system that is MRI-compatible, without the interference of one component with another, requires extensive R&D and significant capital investments.
Manufacturers rely on licensing and patenting their innovative technologies for revenues and sales. Currently, only two companies have a substantial presence in the MRI-guided radiation therapy systems market—Elekta AB and Viewray Technologies, Inc.
