DUBLIN, Nov. 3, 2023 /PRNewswire/ — The “Global Intensity-modulated Radiotherapy Market 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global intensity-modulated radiotherapy market is projected to reach USD 2.8 billion by 2028 from USD 2.2 billion in 2023, growing at a CAGR of 5.2% during the forecast period.
The projected surge in market growth for the Intensity-modulated radiotherapy market (IMRT) is underpinned by a confluence of compelling advantages. Notably, IMRT’s capacity to achieve exceptional precision in tumor targeting, coupled with its ability to mitigate collateral damage to healthy tissues, stands as a pivotal driver. Furthermore, the escalating global incidence of cancer amplifies the demand for advanced treatment modalities, with IMRT positioned as a forefront solution. This convergence of factors is poised to usher in a phase of robust expansion within the market, consequently shaping the landscape of IMRT adoption in the forthcoming forecasting years.
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The Brain cancer application segment to register highest CAGR over the forecast period of 2023-2027
Based on the application, the Intensity-modulated radiotherapy market is segmented into prostate cancer, lung cancer, head & neck cancer, breast cancer, gastrointestinal cancer, gynecological cancer, and other applications. The Breast cancer segment is witnessed the highest growth rate In 2022.
The increase in breast cancer can be seen due to aging factors, genetic factors like – inherited genetic mutations, such as BRCA1 and BRCA2, contribute to a small percentage of breast cancer cases, the use of hormone replacement therapy can be a few of the potential factors increasing the rate of breast cancers. The incidence of breast cancer may appear to be increasing, but breast cancer mortality rates have been declining due to earlier detection and advances in treatment. IMRT allows physicians and patients to eradicate the cells efficiently by using proper radiation intensity.
Hospitals’ segment to register for the largest market share of the Intensity-modulated radiotherapy market 2022-2027
The major end-users in the Intensity-modulated radiotherapy market are hospitals. The hospitals end-user segment is estimated to hold a significant market share of the Intensity-modulated radiotherapy market during the forecast period. Hospitals, characterized by their capacity to provide a comprehensive array of medical services within a singular facility, confer a distinctive convenience to patients undergoing the Intensity-modulated radiotherapy market (IMRT).
This convenience stems from the consolidation of diverse medical needs under one roof, thereby mitigating the necessity for patients to seek multiple appointments at disparate venues. This strategic amalgamation of services not only streamlines patient care but also augments the attractiveness of IMRT as a preferred treatment option. As a result, this seamless alignment of convenience and comprehensive care significantly contributes to the advancement and prominence of the Intensity-modulated radiotherapy market within hospital settings.
Technological Advances: Hospitals frequently maintain cutting-edge infrastructure and technological capabilities essential for the successful integration of the Intensity-modulated radiotherapy market (IMRT), thus assuring the ready availability of requisite resources. This pivotal attribute distinctly contributes to the advancement and fortification of the image-guided radiation therapy market.
Asia-Pacific to register significant growth rate in the market during the forecast period
For the forecasting period 2023-2028, the APAC region is expected to register a significant growth rate in the market during the forecast period. Asia-Pacific comprises India, China, Japan, Australia, South Korea, and RoAPAC. The Asia-Pacific (APAC) region has witnessed a significant increase in the market growth rate for image-guided radiation therapy. There are several drivers that contributed to this growth:
The maturing demographic profile observed in APAC countries accentuates the imperative for efficacious cancer treatment modalities characterized by minimized treatment-related adverse effects. This resonance with the precision-driven attributes of the Intensity-modulated radiotherapy market (IMRT) substantiates its pivotal role in enhancing the market landscape.
The incorporation of multilingual patient care offerings within APAC hospitals, combined with the accessibility to advanced treatments like the Intensity-modulated radiotherapy market (IMRT), confers a unique allure to the region, particularly among a diverse patient spectrum. This fusion of linguistic inclusiveness and state-of-the-art medical interventions significantly enhances the region’s desirability as a favored healthcare destination, thereby fortifying its competitive position within the healthcare market landscape and concomitantly propelling the prominence of IMRT.
Research Coverage
- The report studies the Intensity-modulated radiotherapy market based on radiation type, application, end-user, and region.
- The report analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth.
- The report evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.
- Prominent players in this market are Varian Medical Systems, Inc., Elekta (Sweden), Accuray Incorporated (US), and Hitachi (Japan) among others.
- The report studies micro markets with respect to their growth trends, prospects, and contributions to the global Intensity-modulated radiotherapy market
- The report forecasts the revenue of market segments with respect to five major regions.
Premium Insights
- Increasing Prevalence of Cancer and Growing Geriatric Population to Drive the Market
- Photon Radiation and US Commanded the Largest Market Share in 2022
- Middle East & Africa to Register the Highest Growth Rate During the Forecast Period
Market Dynamics
- Drivers
- Rising Prevalence of Chronic Diseases Among All Age Groups
- Advancements in Radiation Therapy Technologies to Improve Treatment and Reduce Side Effects
- Improved Patient Outcomes and Potential Cost Savings in Long Run
- Reduced Infection Risk and Shorter Recovery Periods with Minimal Scarring
- Restraints
- Dearth of Skilled Radiologists/Oncologists for Operating Automated Radiotherapy Equipment
- High Cost of Intensity-Modulated Radiation Therapy Systems
- Opportunities
- Rapid Economic Development and Rising Healthcare Expenditure Across Emerging Economies
- Growing Government and Private Investments in Cancer Treatment
- Increased Adoption of Radiation Therapy as Primary Treatment Option for Cancer
- Challenges
- Increased Risk of Radiation Exposure for Both Patients and Healthcare Staff
- Increased Competition from Alternative Treatment Modalities
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Intensity-Modulated Radiation Therapy Market, by Application
7 Intensity-Modulated Radiation Therapy Market, by Radiation Type
8 Intensity-Modulated Radiation Therapy Market, by End-user
9 Intensity-Modulated Radiation Therapy Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
Companies Mentioned
- Accuray Incorporated
- Brainlab AG
- Elekta
- Hitachi, Ltd.
- IBA Worldwide
- Koninklijke Philips N.V.
- Mevion Medical Systems
- Raysearch Laboratories
- Siemens Healthineers AG (Varian Medical Systems, Inc.)
For more information about this report visit https://www.researchandmarkets.com/r/62sgy0
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