Radiotherapy Market (2025-2032)

Radiotherapy is commonly known as radiation therapy. Radiotherapy is a type of cancer treatment that uses radiation beams to treat and destroy cancer cells in the affected area. In radiotherapy treatment, tumor cells are killed using X-rays, gamma rays, and charged particles. Radiation therapy is of two types - external beam radiation and internal radiation therapy. External radiation can come from a machine or a small container of radioactive material placed directly into or near the tumor. Some patients require only one type of radiation therapy, while others require both types of radiation therapy.

The growth of this market is driven by the rising cancer incidence rate, technological advancements in the field of radiotherapy, growing awareness about the benefits of radiotherapy for cancer treatment, growing healthcare expenditure, and rising use of particle therapy for cancer treatment. However, the high cost and complexities associated with radiotherapy procedures, lack of advanced infrastructure facilities, and lack of skilled healthcare professionals are restraining the market’s growth.

Furthermore, the high growth prospects in emerging economies and rising investments by public and private organizations in Cancer Research are expected to offer significant market growth opportunities. However, the difficulties in visualizing tumors during radiotherapy procedures and the risks associated with radiation exposure are the major challenge to the market’s growth.

The incidence of cancer is rising across the world. According to GLOBOCAN 2020, 19.3 million people were diagnosed with cancer in 2020. This number is expected to rise to 24.6 million by 2032. The most common types of cancer are lung cancer, breast cancer, colon cancer, prostate cancer, and rectum cancer. According to the data published by the World Health Organization (WHO) in February 2022, cancer was among the most common cause of mortality all over the world. In 2020, it accounted for approximately 10 million deaths. Late-stage diagnosis and inaccessible treatment are the major factors responsible for rising mortality due to cancer across the globe.

The adoption of radiotherapy is rising as it helps to control cancer growth and prevents the cell from spreading. It can cure early-stage cancer and decrease the chances of recurrence of cancerous tumors. According to Radiation Oncology Targeting Cancer, radiotherapy is responsible for 40% of all cures for cancer globally, as well as enhancing life quality for many more. Radiotherapy plays an important role in addressing the issues for the treatment of cancer patients boosting the adoption of radiotherapy globally.

According to the Organization for Economic Cooperation and Development (OECD), per capita health expenditure in developing countries is rising steadily. This is attributed to the increasing demand for various healthcare services, which supports the growth in the market for various medical devices, including radiotherapy equipment. Economic development and the resultant increase in disposable income, and the growing penetration of health insurance drive accessibility to healthcare services in emerging economies.

According to the World Health Organization (WHO) 2021 report, government health spending raised from 11.9% to 15.0% in 2019. In addition, according to global Economic Data, Indicators, Charts & Forecasts (CEIC) Data, the per capita disposable income in China was $2,589.0 million (18,445.500 RMB) in 2021 and $2,898.3 million (19,303.000 RMB) in 2022, an increase of 4.6%.

Therefore, owing to reasons, the accessibility and affordability of healthcare services are increasing, driving the demand for healthcare services & related medical devices, including the radiotherapy market.