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Radiotherapy: Technologies and Global Markets

  • June 2017
  • 140 pages
  • BCC Research
Report ID: 2720119


Table of Contents

• The global radiotherapy market was valued at $6.4 billion in 2016. The market should reach $6.8 billion and $9.2 billion in 2017 and 2022, respectively; growing at a compound annual growth rate (CAGR) of 6.4% from 2017 to 2022.
• The global external beam radiation therapy market was valued at $5.2 billion in 2016. The market should reach $5.5 billion and $7.5 billion in 2017 and 2022, respectively; at a CAGR of 6.4% from 2017 to 2022.
• The global systemic radiation therapy market was valued at $570 million in 2016. The market should reach $665 million and $1.0 billion in 2017 and 2022, respectively; at a CAGR of 8.7% from 2017 to 2022.

BCC Research’s goal for this study was to determine the global market and future demand growth for radiation therapy equipment over a five-year period from 2017 to 2022. Our particular interest is to characterize and quantify the radiation therapy market potential by technology, type and regional market.

We also evaluate the three types of radiotherapy, which are external radio therapy, internal radio therapy and systemic radiation therapy. Also opportunities in each type of radiation therapy market have been discussed in detail. Factors that affect each subsegment, the drivers, restraints, threat and opportunities, have been discussed. Our key objective was to present a comprehensive discussion of where the state-of-the-art is in radiation therapy and forecast the future commercial potential for the key market segments.

This discussion will provide a basis for companies to make strategic choices about developing new products and markets, or employing radiation therapy for treating cancer and other diseases. The study will benefit radiation therapy and radioactive substance manufacturers, users of radio therapy, medical instrument companies, life sciences tools companies, diagnostic and drug manufacturers, biotechnology companies, and developers of nanotechnologies.

Study Goals and Objectives
• To sum up the global radiotherapy market size.
• To estimate the growth rate of the global radiotherapy market.
• To segment the market in the deepest possible way.
• To provide market number and growth rate at the niche level.
• To identify major drivers and restraints.
• To identify opportunities and challenges present in the market.
• To identify key trends and technology updates in the field.

Reasons for Doing This Study
Cancer is a leading cause of mortality worldwide. Increased longevity, due to improved control of epidemics and infectious diseases, has resulted in a substantial rise in the number of cases. In the 21st century, the frequency of cancer and the suffering often associated with it has significantly raised cancer awareness. Radiation therapy, along with chemotherapy and surgery, is used to treat cancer. It is estimated that radiation therapy is administered to 60% of all cancer patients. The discovery of X-rays and radioactivity lead to the development of radiation therapy treatment techniques. The basic principle of radiation therapy is to kill the maximum number of cancer cells while minimizing damage to healthy tissue.

Radiation therapy can be used for both curative treatment and palliative treatment. Curative treatment, which is sometimes called radical treatment, aims to give long-term benefits to patients. Radiation therapy can be administered on its own or with other treatments. It can be given before surgery to

shrink a tumor or after surgery to stop the growth of remaining cancer cells. It can also be given before, during or after chemotherapy or hormone treatment to improve overall results. Palliative treatment aims to shrink tumors in order to reduce pain or relieve other cancer symptoms. Palliative radiation therapy may also prolong life. Radiation therapy is used to treat all types of cancer, including breast, prostate and lung, as well as neurological disorders.

With advances in technology and the advent of new software, the radiation therapy market is expected to increase during the forecasting period. New techniques have changed the way treatments are planned and doses are delivered. The use of radiation therapy is expected to increase as the incidence of cancer increases. The greatest growth in radiation therapy will be driven by demand in developing countries, particularly India and China.

Major market players include Varian (U.S), Elekta (Sweden), IBA-Worldwide Proton Therapy (Belgium), and Accuray (U.S.).

Scope of Report
This research report categorizes the radiation therapy by technology, products and applications. The technology market is divided into three types of radiation therapy, which are external beam radiation therapy, internal radiation therapy/brachytherapy and systemic radiation therapy. External radiotherapy’s by-product is LINAC (linear accelerator); compact advanced radiotherapy systems is divided into CyberKnife, gamma knife and tomotherapy, and proton therapy system; and proton therapy system has two subsegments, which are cyclotrons and synchrotrons.

Internal radiotherapy is divided into seeds applicators and electronic brachytherapy. External radiotherapy by technology is divided into image-guided radiotherapy (IGRT), intensity modulated radiotherapy (IMRT), stereotactic technology, particle/proton beam therapy, tomotherapy, 3D-conformal radiotherapy (3D-CRT) and volumetric modulated ARC therapy. Internal radiotherapy by technology is divided into two types: low-dose brachytherapy and high-dose brachytherapy. Systemic radiation therapy is bifurcated into two segments: alpha emitters and beta emitters.

Radiation therapy has also been studied based on the various applications: external radiation therapy applications: prostate cancer, breast cancer, lung cancer, and head and neck cancer. Internal radiation therapy applications include: prostate cancer, gynecological cancer, breast cancer, cervical cancer and systemic radiation therapy, hyperthyroidism, bone metastasis, lymphoma and endocrine tumors. The global radiation therapy market is segmented in this report by region: North America, Europe, Asia and the Rest of the World.

Information Sources
• Public information via annual reports to shareholders as well as other government reports, which are available for public review.
• Company marketing information, advertising, company press releases, and state and local news sources, and subscription-based information.
• Online research including third-party references.
• Trade associations, directories and publications.
• Telephone interviews with both current customers and prospects.
• Various private industry sources.

Research methodology followed in this report is a bottom-up approach. The final number for the devices market was determined by using the average selling price and number of installment each year. Both a quantitative as well as qualitative approach were used to drive the market size and growth rates. Many secondary sources were reviewed and extensive primary research was conducted with key opinion leaders, marketing managers, product managers and end users.

Market numbers have been calculated in constant U.S. dollars.

Geographic Breakdown
In this report, the geographic regions considered for market analysis include, and only include:
• North America.
• Europe.
• Asia.
• Rest of the World.

Summary and Highlights
There are currently 33 million cancer patients worldwide and this number is steadily increasing as the global population ages. The market for radiotherapy, one of the treatments used in oncology, was estimated at nearly $6.8 billion in 2017 and is expected to increase at a compound annual growth rate (CAGR) of 6.4% to $9.2 billion by 2022. The radiation therapy market is bifurcated with two main players, Varian and Elekta, which dominate more than 90% of the market. Major players include Varian (U.S.), Elekta (Sweden), IBA-Worldwide Proton Therapy (Belgium) and Accuray (U.S.).

Several major drivers are expected to boost the growth of this market in the forecasted period, including government funding through constant reimbursement continuous R&D applied to different applications; and the fact that radiation therapy is an efficient treatment. The rising incidence of cancer due to aging populations, particularly in developing countries, is another major driver since aging is considered the biggest single factor for the development of cancer. Additionally, radiation therapy is a personalized treatment, which is preferred in cancer cases.

Major factors restricting the growth of the radiation therapy market, particularly in developing countries, are the high cost of the devices, space restrictions and the lack of trained professionals to administer it. External radiation therapy claims the major share of the global market, but the equipment is capital intensive and requires a large facility to accommodate it. Other factors that have a negative effect on the market include radiation therapy’s limited effectiveness against metastatic cancer and its side effects.

Since this is a capital-intensive industry, a stable economy is a necessity for growth. Half of all cancer cases are occurring in developing countries, many of which have strong economies. This enables them to have the purchasing power to buy equipment. The major threat is economic downturn or recession; the radiation therapy market saw a major dip during the recession of 2009.

The global radiation therapy market is segmented by type into three submarkets: external beam radiation therapy, internal beam radiation therapy/brachytherapy and systemic radiation therapy. The radiation therapy market is estimated by application of each type of therapy and by region into the North America, Europe, Asia and the Rest of the World.

The radiation therapy market is growing at a CAGR of 6.4% due to growth in developing countries and replacement sales in developed countries.

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