Radiotherapy Market by Product (Devices [LINAC, Gamma Knife, Cyber Knife, Cyclotron, Synchrotron, Brachytherapy], Services, Software) Technology (IMRT, IGRT, 3D-CRT, Proton Beam Therapy, PDR-BT) Cancer (Breast, Prostate, Lung) - Global Forecast to 2030

The Radiotherapy Market is projected to reach $17.86 billion by 2030, at a CAGR of 8.4% from 2024 to 2030. 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 Rising Incidence of cancer Boosts the Growth of the Radiotherapy Market

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 2030. 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.

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High Growth Prospects in Emerging Economies Create an Opportunity for the Market

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.

Key Findings in the Radiotherapy Market Study:

Based on Product, the Radiotherapy Devices Segment is Expected to Account for the Largest Share of the Market

Based on product, in 2024, the radiotherapy devices segment is expected to account for the largest share of the radiotherapy market. External beam radiotherapy devices and internal beam radiotherapy devices are the two types of radiotherapy devices. The adoption of CyberKnife is significantly higher than other external beam devices. The large market share of this segment is attributed to the benefits of CyberKnife, such as its painless, non-invasive nature with few to no side effects.

In 2024, the External Beam Radiotherapy Segment is Expected to Account for the Largest Share of the Market

Based on technology, in 2024, the external beam radiotherapy segment is expected to account for the largest share of the radiotherapy market. The large market share of this segment is attributed to the high precision of external beam therapy. The developments in external beam therapy allow for higher and more precise radiation doses and reduce damage to healthy tissues. Moreover, the preference for external radiotherapy is higher among patients unsuitable for surgery.

In 2024, the Prostate Cancer Segment is Expected to Account for the Largest Share of the Market

Based on cancer type, in 2024, the prostate cancer segment is expected to account for the largest share of the radiotherapy market. The largest share of this segment is attributed to the high incidence of prostate cancer coupled with the high success rate compared to other cancer types. For instance, according to GLOBOCAN data, 1.4 million prostate cancer cases were reported in 2020 and are expected to reach 1.9 million by 2040.

Asia-Pacific: Fastest-growing Regional Market

The increasing government spending on healthcare in countries such as China, India, Singapore, and South Korea, rising funding for cancer research, and increasing prevalence of cancer are driving the growth of the cancer radiotherapy market in Asia-Pacific. Furthermore, government initiatives toward the development of healthcare facilities and increasing health insurance penetration are also boosting the growth of this market.

Key Players

The report offers a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presences, and key strategic developments adopted by leading market players in the last three to four years. The key players profiled in the radiotherapy market report are Siemens Healthineers AG (Germany), Elekta AB (Sweden), Accuray Incorporated (U.S.), IBA (Belgium), Mevion Medical Systems, Inc. (U.S.), Hitachi, Ltd. (Japan), ViewRay Technologies, Inc. (U.S.), Panacea Medical Technologies Pvt. Ltd. (India), IsoRay, Inc. (U.S.), Optivus Proton Therapy, Inc. (U.S.), and P-Cure, Ltd. (Israel).

Scope of the Report:

Radiotherapy Market Assessment—by Product

• Radiotherapy Devices
  • External Beam Radiotherapy
    • Conventional Linear Accelerators
    • Conventional Co-60 Teletherapy Units
    • Advanced Stereotactic Radiotherapy Systems
      • Gamma Knife
      • CyberKnife
      • TomoTherapy
    • Proton Beam Therapy Systems/Particle Beam Therapy Systems
      • Cyclotron
      • Synchrotron
      • Synchrocyclotron
  • Internal Beam Radiotherapy Systems/Brachytherapy Systems Seeds
    • Electronic Brachytherapy Products Applicators
    • Afterloaders
• Radiotherapy Consumables and Accessories
• Services
• Software

Radiotherapy Market Assessment—by Technology

• External Beam Radiotherapy
  • Intensity Modulated Radiation Therapy (IMRT)
  • Image Guided Radiation Therapy (IGRT)
  • Stereotactic Radiation Therapy (SRT)
  • 3D Conformal Radiation Therapy (3D-CRT)
  • Proton Beam Therapy/Particle Beam Therapy
• Internal Beam Radiotherapy
  • Brachytherapy
    • High Dose Rate Brachytherapy
    • Low Dose Rate Brachytherapy
    • Image Guided Brachytherapy
    • Pulse Dose Rate Brachytherapy
  • Systemic Radiation Therapy
    • Intravenous Radiotherapy
    • Oral Radiotherapy

Radiotherapy Market Assessment—by Cancer Type

• Breast Cancer
• Prostate Cancer
• Lung Cancer
• Head and Neck Cancer
• Colorectal Cancer
• Cervical Cancer
• Other Cancers
  (Note: Other cancers include kidney cancer, ovarian cancer, pancreatic cancer, and stomach cancer.)

Radiotherapy Market Assessment—by Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • Italy
  • U.K.
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa

Key questions answered in the report: