Global Radiation Therapy Market: Overview
This report analyzes the current and future scenario of the global radiation therapy market. Increase in patient population, expansion of health care infrastructure, and technological advancements are projected to drive the global market during the forecast period.
The global radiation therapy market report comprises an elaborate executive summary, which includes a snapshot that provides information about various segments of the market. It also provides information and data analysis of the global market with respect to segments based on type, end user, and region. A detailed qualitative analysis of drivers and restraints of the market, and opportunities has been provided in the overview section. Additionally, the section comprises competitive matrix and company profiles along with business overview to understand the competitive landscape in the market. This section of the report also provides market attractiveness analysis by region and market share analysis by key players, thereby presenting a thorough analysis of the overall competitive scenario in the global radiation therapy market.
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Rising Incidences of Cancer is Bolster Demand of the Therapy
The large number of people suffering from various types of cancer has been the major driving force for the global radiation therapy market. Till date, cancer has been one of the leading life-threatening diseases. According to the estimates of World Health Organization (WHO), cancer has emerged as the second major cause of death across the globe. In 2018, cancer is responsible for around 9.6 million deaths worldwide. Nearly 70% of the people who died from cancer fall in the low and middle-income group.
Intensity-modulated radiation therapy (IMRT) is an external beam radiation therapy. It is widely used across the market due to its ability of give high doses of radiation at the cancer-stricken areas. IMRT comes with multiple radiation beams that are capable of targeting numerous sites with different doses. During the process it is possible to switch off and switch on the beams. Tumor cells are precisely mapped in 3Ds, which is another growth-promoting feature of the intensity-modulated radiation therapy. In the global radiation therapy market, the intensity-modulated radiation therapy sector is likely to expand rapidly due to the advantages it offers. However, high cost of the treatment is estimated to restrain market expansion, particularly in the developing and under-developed regions.
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Driven by India and China, Asia Pacific to Offer Lucrative Growth Opportunities
In global radiation therapy market, Asia Pacific is likely to come up as a rapidly growing region. Such growth of the market is due to the increased demand for effective therapies for cancer treatment in countries like India and China. In addition, increased spending on the cancer treatment together with a rise in the number patients with cancer in the region is likely to work in the favor of the growth of the radiation therapy market in Asia Pacific.
Latin America and Middle East are expected to emerge as other promising regions in the global radiation therapy market over the assessment tenure. Growth in both the regions is estimated to be driven by the rise in the number of government initiatives promoting and encouraging better healthcare facilities. In addition, a rise in the number of product approvals together with the expanding pool of cancer patients is likely to bolster the growth of the radiation therapy market in the region.
Companies Mentioned in Report :
The report profiles major players in the global radiation therapy market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. The major players profiled in the market report include Varian Medical Systems, Elekta AB, IBA Radiopharma Solutions, Accuray Incorporated, Isoray, Inc., Mevion Medical Systems, Hitachi, Ltd., ViewRay, Inc., and Panacea Medical Technologies Pvt. Ltd.
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