The Radiation Therapy Equipment Market was valued around USD 4,700 million in 2019 and is predicted to grow at a CAGR of 4.2% over the forecast period (2020-2027).

The major factors driving the Radiation Therapy Equipment market includes rising prevalence of cancer, increasing awareness regarding the benefits of radiation therapy, increasing government funding to medical institutes, growing demand for non-surgical approaches and improvement in the living standards of people. As per the International agency for Research on cancer, almost 17 million new cases were registered and 9.5 million died because of cancer across the globe in 2018, it is further expected that 27.5 million new cases of cancer may occur by 2040, is further encouraging the healthcare institutions to purchase radiation therapy equipment. Moreover, rising focus of manufacturing for developing cost-effective cancer treatment equipment, growing adoption of advanced technologies, increasing popularity of external beam radiation therapy devices and rapid urbanization, are some of the additional factors supplementing the Radiation Therapy Equipment Market size. In addition, the increasing investments by major companies on research and development, strategic partnership between organization and growing disposable incomes, are further contributing to the market growth.

However, insufficient availability of skilled oncologists and radiologists, might hamper growth of the market.

The leading players operating in the Radiation Therapy Equipment Market are Philips Healthcare, RaySearch Laboratories AB, Sumitomo Heavy Industries Ltd., Accuray Incorporated, Nordion Inc., BrainLab AG, Elekta AB, Varian Medical Systems Inc., GE Healthcare, Hitachi America Ltd. and IBA Group, among others.

Based on Therapy Type, the Internal Radiation Therapy segment is predicted to grow at a robust CAGR over the forecast period

Increasing demand for internal radiation therapy equipment by hospitals to treat various type of cancer such as breast, cancer, and lungs, is pushing growth of the segment.

Based on Application, the Hospitals segment is projected to grow at a significant CAGR over the forecast period

Rising geriatric population and technological advancements in radiation therapy equipment, are propelling growth of the segment.

Based on Region, the Asia-Pacific region is expected to expand at a remarkable CAGR during the forecast period

Increasing incidences of cancer across China, India and Indonesia, rise in Governments’ spending in the Healthcare sector, rapid urbanization, and high population growth rates, are some of the factors augmenting the market growth in the Asia-Pacific region.

 Key Developments

• In 2018, Brainlab launched ExacTrac Dynamic for Radiation Oncology (ASTRO) meeting at the American Society in Texas. It is a radiotherapy patient positioning and monitoring solution.


• In 2017, Brainlab partnered with Elekta to Streamline Treatment Workflows for Stereotactic Radiation Therapy. Through this partnership, both companies integrate their technologies; Brainlab uses ExacTrac and Elekta Versa HD linear accelerator patient positioning and monitoring technology. The integration of these two technologies provides high-definition stereotactic radiosurgery (HDRS) treatments to patients.

Market Segmentation

Segmentation by Therapy Type

• External Beam Radiation Therapy


• Internal Radiation Therapy


• Systemic Radiation Therapy

Segmentation by Application

• Hospitals


• Clinics


• Others

Segmentation by Region

• Asia Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Rest of APAC
  
  
  
  


• North America
  
  
  
  • United States of America
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • United Kingdom
  
  
  • Germany
  
  
  • France
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• RoW
  
  
  
  • Brazil
  
  
  • South Africa
  
  
  • Saudi Arabia
  
  
  • UAE
  
  
  
  

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