As of 2023, there were 2.81 thousand units of radiation therapy equipment in US hospitals. From 2018 to 2023, the market experienced an overall growth trend after initial fluctuations, with the 2021-2023 years showing consistent annual growth just above one percent. The compound annual growth rate (CAGR) over the last five years stands at approximately 0.7%. Looking forward, projections suggest continued growth with a forecasted 5-year CAGR of 0.74%, leading to nearly a 3.77% increase by 2028.
Future trends to watch for:
- Advancements in technology making radiation equipment more efficient and accessible.
- Potential policy changes impacting healthcare spending on radiation therapy equipment.
- Increasing demand driven by an aging population and rising cancer incidence rates.
- Consolidation trends in healthcare systems could impact equipment proliferation.
