Radiotherapy devices are specialized medical equipment used in the treatment of cancer and certain non-malignant conditions by delivering high-energy radiation to target cells and tissues. These devices are integral to the field of oncology, helping to control or eliminate cancer cells by damaging their DNA (deoxyribonucleic acid) and limiting their capacity to proliferate. Radiotherapy is typically applied in a clinical setting, either as a standalone treatment or in combination with other methods such as surgery, chemotherapy, or immunotherapy.
The radiotherapy devices market consists of sales, by entities (organizations, sole traders and partnerships), of radiotherapy devices that are used by oncologists, radiologists and medical physicists who operate and manage these devices to provide tailored treatments for patients based on the type, stage and location of their cancer.
The global radiotherapy devices market was valued at $4,370.00 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 5.00%.
Increased Focus On Patient-Centered Care
The increased focus on patient-centered care supported the growth of the radiotherapy devices market in the historic period. Patient-centered care emphasizes minimizing side effects, reducing treatment times and improving the overall experience for patients, which drives the demand for advanced radiotherapy devices capable of delivering precise, personalized treatment plans. Newer radiotherapy technologies allow for targeted doses that reduce harm to healthy tissues, lower radiation exposure and enable faster recovery, which is especially beneficial for patients seeking treatments that integrate smoothly into their lives. For instance, in October 2023, Ambula, US-based hospitals and health care company, reported that clinical trials utilizing patient-centered models reported a 30% increase in patient satisfaction compared to traditional methods. This approach fosters better communication and trust between patients and healthcare providers. Patients involved in shared decision-making exhibited an adherence rate exceeding 90%, compared to about 60% for those not engaged in such processes. Therefore, the increased focus on patient-centered care drove the growth of the radiotherapy devices market.
Innovative Technologies Transforming The Radiotherapy Devices Market
Major companies operating in the radiotherapy devices market are focusing on innovative technologies transforming radiotherapy devices. These technologies aim to deliver highly focused radiation beams with exceptional accuracy, making them suitable for treating small, complex tumors located in challenging areas of the body, such as the brain or spine. For instance, in May 2023, Mitchell Cancer Institute, a US-based cancer treatment center, launched new radiation technology called The Versa HD. The Versa HD can administer Volumetric Modulated Arc Therapy (VMAT), which expedites the delivery of treatments and enhances the patient experience. High-Definition Dynamic Radiosurgery (HDRS), which has special sequencing capabilities and converts the Linear Accelerator (LINAC) into a specialized Stereotactic Radiosurgery (SRS) solution, is a service that the Versa HD is capable of providing.
The global radiotherapy devices market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 23.67% of the total market in 2023.
Radiotherapy Devices Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global radiotherapy devices market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for radiotherapy devices? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The radiotherapy devices market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider radiotherapy devices market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by product type, by application and by end users.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the radiotherapy devices market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by product type, by application and by end users in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for radiotherapy devices providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Product Type: External Beam Radiation Therapy Devices; Internal Beam Radiation Therapy Devices; Systemic Radiation Therapy Devices
- 2) By Application: Stomach; Colon; Liver And Intrahepatic Bile Ducts; Trachea, Bronchus And Lung; Non-Melanoma Skin Cancer (NMSC); Breast; Prostate; Other Applications
- 3) By End Users: Hospitals; Ambulatory Surgical Centers; Oncological Treatment Centers; Other End Users
- Companies Mentioned: IBA (Ion Beam Applications S.A.) Worldwide; Siemens Healthineer; Elekta; Mevion Medical Systems Inc.; Shinva Medical Instrument Company Limited
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia.
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; radiotherapy devices indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.