Image Guided Radiotherapy Market Forecasts to 2030 - Global Analysis By Product (Software, Hardware, Accessories and Service), Technology, Application, End User and By Geography

According to Stratistics MRC, the Global Image Guided Radiotherapy Market is accounted for $2.05 billion in 2023 and is expected to reach $3.34 billion by 2030 growing at a CAGR of 7.2% during the forecast period. Image Guided Radiotherapy (IGRT) is a precise form of radiation therapy that utilizes imaging technology to guide the delivery of radiation to tumours. IGRT enables clinicians to visualize the tumor and surrounding tissues in real-time, allowing for more accurate targeting of radiation and minimizing damage to healthy tissue. This approach enhances treatment effectiveness while reducing side effects. IGRT is particularly valuable for tumours that move during treatment or are located near critical organs, offering improved outcomes and increased patient safety.

According to the American Cancer Society, the burden of cancer worldwide is expected to reach ~28.4 million cases by 2040, increased by 47% from 2020, with greater increases in developing countries due to demographic changes and over 60% of cancer patients undergo some form of radiation therapy as part of their treatment.

Market Dynamics:

Driver:

Rising prevalence of cancer

With cancer incidence rates on the rise, there's an amplified demand for advanced treatment modalities that offer precision and minimal invasiveness. IGRT, leveraging cutting-edge imaging technologies, enables precise tumor targeting while sparing healthy tissues, making it an increasingly preferred option in oncology. This growing demand for more effective and tailored cancer treatments positions IGRT as a pivotal solution, driving its adoption and market growth amidst the expanding landscape of cancer care.

Restraint:

Lack of skilled professionals

The scarcity of trained professionals poses a significant obstacle to the expansion of the Image Guided Radiotherapy (IGRT) market. Successful utilization of IGRT technology necessitates skilled healthcare practitioners proficient in its operation and interpretation. Without an adequate workforce, healthcare facilities may struggle to offer IGRT services, leading to underutilization of IGRT technology and hindering its market growth potential.

Opportunity:

Continuous innovations in radiotherapy equipment

Continuous innovations in radiotherapy equipment enhance treatment precision, efficiency, and patient outcomes. Advanced features such as improved imaging modalities, real-time monitoring, and automated treatment delivery systems increase the accuracy of tumor targeting while minimizing damage to surrounding healthy tissue. These innovations attract healthcare providers seeking state-of-the-art solutions, boosting adoption rates. Additionally, technological advancements enable the development of more compact and cost-effective IGRT systems, expanding accessibility to a broader patient population.

Threat:

High cost of equipment and treatment

The high cost of equipment and treatment in IGRT limits accessibility, particularly in regions with constrained healthcare budgets. The substantial initial investment required for IGRT systems and ongoing treatment expenses can deter healthcare facilities from adopting this technology. Additionally, patients face financial burdens, and healthcare providers encounters challenges in securing reimbursement for IGRT procedures. Consequently, the high cost of equipment and treatment hampers the widespread adoption and utilization of IGRT, impeding market expansion.

Covid-19 Impact

The covid-19 pandemic has had a mixed impact on the image guided radiotherapy market. While it initially led to disruptions in treatment schedules and a slowdown in installations of new equipment due to healthcare facility closures and reprioritization of resources, there has been a subsequent rebound driven by pent-up demand and a growing emphasis on cancer care. Furthermore, the pandemic has accelerated the adoption of telemedicine and remote monitoring technologies, which could have long-term implications for how IGRT services are delivered and accessed, potentially fostering market growth.

The 3D ultrasound segment is expected to be the largest during the forecast period

The 3D ultrasound segment is estimated to have a lucrative growth. By providing real-time, high-resolution imaging of tumor sites, 3D ultrasound enhances the precision and accuracy of treatment delivery. This technology allows for better visualization of tumor boundaries and surrounding anatomy, enabling oncologists to tailor radiation therapy with utmost precision. Its incorporation into IGRT workflows enhances patient outcomes and treatment efficacy.

The brain tumours segment is expected to have the highest CAGR during the forecast period

The brain tumours segment is anticipated to witness the highest CAGR growth during the forecast period. Utilizing advanced imaging techniques such as MRI, CT, and PET scans, IGRT enables real-time visualization of tumours during treatment, allowing for accurate radiation delivery. This approach enhances treatment efficacy while reducing the risk of side effects. It also facilitates personalized treatment plans tailored to individual patient needs, optimizing outcomes for brain tumor patients.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to increasing cancer incidence and advancements in healthcare infrastructure. Emerging economies such as China and India are key contributors, supported by rising healthcare expenditure and expanding access to advanced treatment modalities. With a favourable regulatory environment and growing awareness about cancer care, the Asia Pacific IGRT market is poised for continued growth.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to high prevalence of cancer and robust healthcare infrastructure. The United States dominates the market, driven by extensive research and development activities, along with significant investments in healthcare technology. Increasing adoption of advanced imaging technologies and software solutions, coupled with favourable reimbursement policies, propels market expansion. With a focus on precision medicine and patient-centric care, the North American IGRT market is poised for sustained growth and technological advancements.

Key players in the market

Some of the key players profiled in the Image Guided Radiotherapy Market include Siemens Healthineers, Elekta AB, Accuray Incorporated, ViewRay, Inc., Brainlab AG, RaySearch Laboratories, Mevion Medical Systems, C-RAD AB, IBA Dosimetry GmbH, Philips Healthcare, Hitachi Medical Systems, Theragenics Corporation, Nanobiotix and Xstrahl Limited.

Key Developments:

In March 2024, Siemens Healthineers and Varian Medical Systems announced the launch of their Image Guided Radiotherapy (IGR) product. The product helps practitioners provide digital image data for diagnosis, risk stratification, and treatment planning in the early stages of liver cancer detection. The data can also provide guidance and support during care.

In February 2024, Royal Philips, a health technology company, announced the launch of the Azurion neuro biplane system, a new version of its Image Guided Therapy (IGT) platform. The Azurion platform is powered by ConnectOS, a new operating system from Philips that optimizes system integration.

Products Covered:

• Software
• Hardware
• Accessories
• Service

Technologies Covered:

• Cone Beam Computed Tomography (CBCT)
• 3D Ultrasound
• MRI-guided Radiation Therapy (MRI-RT)
• Positron Emission Tomography (PET) -guided Radiation Therapy (PET-RT)
• Computed Tomography (CT) -guided Radiation Therapy (CT-RT)
• Other Technologies

Applications Covered:

• Prostate Cancer
• Breast Cancer
• Lung Cancer
• Head and Neck Cancer
• Brain Tumours
• Gynaecological Cancer
• Other Applications

End Users Covered:

• Hospitals
• Radiation Therapy Centers
• Cancer Research Institutes
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances