Radiotherapy Market – Trends Forecast Till 2030

Market Snapshot

Market Overview

The global Radiotherapy Market size was estimated at USD 6,900.0 million in 2023 and is projected to reach USD 10,443.7 million in 2030 at a CAGR of 6.10% during the forecast period 2024-2030.

Radiotherapy is a medical treatment that uses high doses of radiation to kill or damage cancer cells, slowing or stopping their growth. It is a critical component of cancer treatment, often used in combination with surgery, chemotherapy, or immunotherapy to treat a wide range of malignancies. Radiotherapy works by damaging the DNA within targeted cancer cells, preventing them from growing and dividing. There are two main types: external beam radiotherapy, where radiation is delivered from outside the body, and internal radiotherapy (or brachytherapy), where radioactive material is placed directly inside or very close to the tumour. Radiotherapy can be used to treat both localized tumours and those that have spread to other parts of the body, depending on the cancer type and stage.

The radiotherapy market has grown significantly due to advancements in technology, which have improved treatment precision and patient outcomes. Innovations such as intensity-modulated radiation therapy (IMRT), stereotactic body radiotherapy (SBRT), and proton therapy have made it possible to deliver more targeted radiation, reducing damage to healthy tissues surrounding the tumour. As a result, these advanced techniques have enhanced the effectiveness of treatment, particularly for cancers that are difficult to treat with traditional methods. Additionally, the growing adoption of radiotherapy in both curative and palliative care settings has expanded the scope of the market, making it a vital component of comprehensive cancer treatment regimens.

Key drivers of the radiotherapy market include the increasing global incidence of cancer, the rising demand for non-invasive treatment options, and continuous technological advancements in radiation oncology. The rising awareness of the benefits of radiotherapy, coupled with improvements in healthcare infrastructure, has expanded access to these treatments, particularly in emerging markets. Additionally, the integration of radiotherapy with other cancer therapies, such as immunotherapy and targeted therapy, is helping to improve overall treatment outcomes. Research into new forms of radiation therapy, such as heavy particle therapies and radiopharmaceuticals, is further driving innovation and offering new opportunities for market growth.

Trends shaping the radiotherapy market include the growing emphasis on precision medicine and personalized cancer care. As technologies advance, there is a greater focus on tailoring radiotherapy to individual patients, considering genetic and molecular profiling of tumours. The market is also seeing an increased shift toward outpatient care and shorter treatment regimens, which can reduce costs and improve patient convenience. Furthermore, the rise of artificial intelligence (AI) and machine learning in radiotherapy planning and delivery is expected to further enhance precision and reduce the risk of human error. The increasing adoption of radiotherapy in low- and middle-income countries, as well as the expansion of clinical trials for innovative treatments, is expected to drive the global market forward in the coming years.

Delvens Industry Expert's Standpoint

Experts in the Radiotherapy Market highlight several key trends driving growth and innovation. The radiotherapy market is a vital segment of cancer treatment, using high-dose radiation to target and destroy cancer cells. Driven by the rising global incidence of cancer and advancements in technology, such as precision techniques like IMRT, SBRT, and proton therapy, the market is expanding rapidly. Key drivers include the increasing demand for non-invasive treatments, the integration of radiotherapy with other therapies like immunotherapy, and innovations in personalized medicine. Trends such as AI-assisted treatment planning, shorter outpatient treatment regimens, and expanding access in emerging markets are further shaping the industry, making radiotherapy a cornerstone of modern oncology care.

Market Portfolio

Key Findings

• The radiotherapy market is categorized into products and software & services based on type. In 2022, the product segment held the largest market share, driven by the substantial installed base of radiotherapy devices, the rising incidence of cancer, and the increasing demand for integrated cancer care solutions.

• The radiotherapy market is classified by technology into external beam radiotherapy, internal beam radiotherapy/brachytherapy, and systemic radiotherapy. The external beam radiotherapy segment is further subdivided into linear accelerators, particle therapy systems, and conventional cobalt-60 teletherapy units. The internal beam radiotherapy/brachytherapy segment encompasses seeds, applicators, after loaders, and intraoperative radiotherapy (IORT) systems. Meanwhile, the systemic radiotherapy segment includes radioisotopes such as iobenguane (I-131), samarium-153, rhenium-186, and others.

• The external beam radiotherapy segment is further divided into Image-Guided Radiation Therapy (IGRT), Intensity-Modulated Radiation Therapy (IMRT), particle therapy, stereotactic therapy, and 3D conformal radiotherapy. Among these, the particle therapy segment is anticipated to experience the highest growth rate during the forecast period. This growth is driven by the increasing adoption of proton therapy in cancer treatment centres, its ability to deliver higher radiation doses directly to tumour cells while minimizing damage to surrounding healthy tissue, the global expansion of proton therapy centres, and the rising volume of research focused on advancing proton therapy.

• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America region is projected to hold the largest market share. Factors such as Technological Advancements, Increasing Cancer Incidence, Non-invasive Treatment Demand, Integration with Other Therapies, Personalized Medicine, Growing Access in Emerging Markets, Outpatient Treatment Options, Improved Healthcare Infrastructure, Increased Awareness and Education, Clinical Research and Trials have triggered the Radiotherapy Market in the region.

Regional Analysis

North America to Dominate the Market

• In 2023, North America held the largest share of the radiation oncology market, accounting for 45.52% of the revenue. This dominance can be attributed to supportive government initiatives and the widespread availability of advanced radiotherapy equipment. Additionally, the active involvement of key players in expanding their market presence in the region is driving further growth. For example, in December 2022, MVision AI formed a partnership with Medron Medical Systems to distribute its AI radiotherapy technology in Canada. The integration of AI technology enhances treatment accuracy, contributing to better patient outcomes.

• The Asia Pacific region is projected to be the fastest-growing market during the forecast period, driven by advancements in healthcare infrastructure, increased patient awareness, and significant unmet healthcare needs. Additionally, the rising cancer burden and growing financial support for key players in the region are expected to create lucrative growth opportunities. According to the 2020 Globocan report, approximately 9.5 million new cancer cases were diagnosed, and 5.8 million people died from the disease in Asia, amplifying the demand for radiotherapy to address the growing impact of cancer across the region.

Competitive Landscape

• Siemens healthineers gmbh (varian medical systems, inc.) 
• Elekta 
• Accuray incorporated 
• Iba worldwide (ion beam applications sa) 
• Viewray technologies, inc. 
• Perspective therapeutics, inc. 
• Hitachi ltd. 
• Sumitomo heavy industries ltd. 
• Carl zeiss meditec ag 
• Mim software inc. 
• Panacea medical technologies pvt. Ltd. 
• Provision healthcare 
• Mevion medical systems 
• Optivus proton therapy, inc. 
• P-cure 
• Intraop medical, inc. 
• Bebig medical 
• Koninklijke philips n.v. 
• Raysearch laboratories 
• Theragenics 
• Protom international 
• Dosisoft sa 
• Isoaid 
• Magnettx oncology solutions ltd. 
• Brainlab ag

Recent Developments

• In October 2023, Accuracy Incorporated achieved a major milestone with the approval of their Tomo C radiation therapy system by the Chinese National Medical Products Administration (NMPA). This approval underscores the company’s dedication to expanding its market footprint and meeting the increasing demand for cutting-edge radiation oncology technologies in China. It represents a significant step in Accuracy’s ongoing efforts to strengthen its presence in the global radiation therapy landscape.

• In July 2023, IBA took a collaborative approach in India by forming a partnership with the Apollo Proton Cancer Centre (APCC). The goal of this partnership was to provide specialized training sessions for oncologists, focusing on proton beam therapy. This initiative emphasizes IBA’s commitment to fostering knowledge sharing and professional development within the field of radiation oncology, aiming to enhance the skills of healthcare professionals and improve patient care in India.

• In June 2023, PharmaLogic Holdings Corp. made a strategic move by signing a Master Services Agreement aimed at the development and production of theragnostic candidates VMT-01 and VMT-NET. These radiopharmaceuticals are being researched for their potential in treating metastatic melanoma and neuroendocrine cancers. The company’s ongoing research efforts reflect its dedication to advancing both diagnostic and therapeutic solutions in radiation oncology, highlighting its role in pushing the boundaries of cancer treatment.

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Report Scope