PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555517
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555517
Image Guided Radiotherapy Market size was valued at USD 1,897.34 Million in 2023, expanding at a CAGR of 7.2% from 2024 to 2032.
Image-Guided Radiotherapy (IGRT) is an advanced form of radiotherapy used to treat cancer. It involves using imaging techniques to precisely target and deliver radiation therapy to cancerous tumors.
Image Guided Radiotherapy Market- Market Dynamics
The increasing prevalence of cancer and the integration of IGRT with advanced technologies is expected to propel market demand
The rising number of cancer cases globally fuels the demand for effective treatment modalities. As the prevalence of cancer increases, there is a growing need for advanced radiotherapy techniques like IGRT to provide more targeted and effective treatments. Further, continuous innovations in imaging technology, such as improvements in CT, MRI, and PET imaging, enhance the accuracy and effectiveness of IGRT. Advances in imaging modalities and integration with radiotherapy equipment have increased the precision of tumor targeting and treatment.
The integration of IGRT with other advanced therapies, such as stereotactic radiosurgery (SRS) and stereotactic body radiotherapy (SBRT), enhances its application and effectiveness in treating various types of cancer. IGRT improves treatment accuracy, which can lead to better patient outcomes, including higher tumor control rates and reduced side effects. This contributes to its growing adoption in clinical practice. IGRT's ability to minimize radiation exposure to healthy tissues is increasingly important, as there is a strong focus on reducing side effects and improving the quality of life for cancer patients.
Image Guided Radiotherapy Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.2% over the forecast period (2024-2032)
Based on Technology segmentation, the computed tomography (CT) segment was predicted to show maximum market share in the year 2023, owing to its high adoption at hospitals & clinics.
Based on Application segmentation, the cancer treatment segment was the leading Application in 2023, owing to its greater accuracy in targeting prostate cancer treatment.
Based on End User segmentation, the hospital segment was the leading End User segment in 2023, owing to the high demand for cancer treatment.
Based on region, North America was the leading revenue generator in 2023, due to the utilization of advanced radiotherapy technologies.
The Global Image Guided Radiotherapy Market is segmented based on Technology, Application, End User, and Region.
The market is divided into two categories based on Technology: computed tomography (CT) and magnetic resonance imaging (MRI). The computed tomography (CT) segment dominates the market. CT is the first step in cancer treatment, and therapeutic measures to understand what cure is better.
The market is divided into five categories based on Application: stereotactic radiotherapy, cancer treatment, oncology, tumors treatment, and others. The cancer treatment segment dominates the market. IGRT helps in accurately targeting prostate cancer, ensuring radiation. These factors are mainly boosting segment growth.
The market is divided into three categories based on End Users: hospitals, research institutes, and others. The hospital segment dominates the market and is expected to maintain its high dominance during the forecast period. The growing demand for IGRT at hospitals for cancer and tumor treatment is promoting the market growth.
Image Guided Radiotherapy Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America holds a substantial market share in the global market. The Asia-Pacific region is witnessing rapid growth in the IGRT market, driven by increasing cancer incidence, improving healthcare infrastructure, and rising awareness of advanced cancer treatments. Growing healthcare spending and government initiatives to improve cancer care contribute to the expanding IGRT market in this region. Besides, countries like the UAE and Saudi Arabia are leading in the adoption of advanced technologies due to significant investments in healthcare.
The Image-Guided Radiotherapy (IGRT) market is competitive, with several key players driving product & technological innovation and growth. Companies are investing in cutting-edge imaging technologies, such as MRI and CT, to improve precision and adaptability in radiotherapy. Additionally, companies are expanding their reach into emerging markets in Asia-Pacific and Latin America, where there is a growing demand for advanced radiotherapy technologies. Some of the companies engage in strategic acquisitions and mergers are common as companies aim to enhance their technological capabilities and market share.
In 2023, GE Healthcare expanded its PET/MR Capabilities with AIR Technologies to enhance diagnostic precision.
In 2022, Siemens Healthineers completed the acquisition of Varian Medical System to increase its market share.