The number of radiation therapy equipment in South Korea has consistently increased from 284 units in 2013 to 368 units in 2023. This represents a compound annual growth rate (CAGR) of 2.71% over the last five years. In the short term, the year-on-year growth has showed slight but consistent progress, with a 2.22% increase in 2023 compared to 2022. Forecasts indicate that this number will reach 407 units by 2028, supported by a projected 1.6% CAGR over the next five years and an overall growth rate of 8.24%.
Key future trends to watch for include:
- Continued advancements in radiation therapy technologies, increasing hospitals' need for newer and more efficient equipment.
- Potential regulatory changes and healthcare reforms that could impact the acquisition and utilization of radiation therapy equipment.
- Growing incidence of cancer and other conditions requiring radiation therapy, driving demand for additional equipment.
- Increased funding for healthcare infrastructure, both from government and private sectors, which could further stimulate market growth.
