Global Radiotherapy Market Analysis: 2023-2030

Global radiotherapy market analysis and insights

The global radiotherapy market estimated at US$6.59 billion in the year 2023 is now projected to grow at a CAGR of 7.11% and reach US$11.41 billion by 2030.

Rising demand for the adoption of faster and non-surgical approaches, increasing demand from cancer hospitals, and a growing number of manufacturers are boosting the market growth. Moreover, the partnerships of equipment providers with the healthcare sector are likely to fuel the revenue growth of this market.

The radiotherapy market has seen significant technological advancements. These advancements have helped in the development of low-cost, more effective, and easy-to-use radiotherapy products with improved and precise radiation dose delivery to offer increased efficiency in targeting tumors.

The advancement from 2D to 3D and 4D conformal radiotherapy with real-time imaging has enabled high conformity of radiation to the target and dose escalation with improved tumor control. Products that provide these benefits are projected to have a very high growth potential in a short time span, especially in mature markets where the adoption rate of technologically advanced products is high.

Artificial intelligence (AI) is a leading trend in the radiotherapy market and is gaining significant popularity in the market. The incorporation of AI innovation in disease care is expected to improve the exactness and speed of analysis, help clinical dynamics, and lead to better results. AI is also expected to include deep learning applications in treatment planning, clinical decision support, automated image-guided adaptive radiation therapy, and genomic/radio-biologic data mining, thus supporting the growth of the market.

Radiotherapy market insights

North American radiotherapy market is expected to grow significantly over the forecast period 2023-2030. This growth can be attributed to rising prevalence of cancer, continuous technological advancements, rising numbers of FDA approvals, and high healthcare expenditure. U.S. contributed around 79% of the total North American radiotherapy market and is estimated to have a market value of US$2.24 billion in the year 2023. Among the other noteworthy geographic markets are Canada and Mexico, each forecast to grow at 5.63% and 4.72% respectively over the forecast period.

Asia-Pacific radiotherapy market is anticipated to witness an upsurge owing to the significant economic development and increase in healthcare availability, and rise in popularity of radiotherapy among oncologists. Further preference of minimally invasive techniques and penetration of global players in Asia is expected to fuel demand for radiotherapy equipment in the region. China is expected to dominate the Asia-Pacific market and reach a market size of US$1.62 billion by 2030.

Within Europe, Germany, France and the U.K. are the key countries responsible for the significant growth of the regional market. The highly advanced healthcare infrastructure and the growing prevalence of lung and colorectum cancer among the European population are the main factors stimulating the radiotherapy market growth. Germany is expected to grow at a fastest CAGR of 6.65% over the forecast period.

Meanwhile, the Middle East & Africa is expected to show limited growth due to the strong presence of under-developed countries in Africa who are still struggling to meet technology standards. However, any growth that the region experiences is expected to come from developing nations such as Qatar, U.A.E, Saudi Arabia and Oman due to a similar growth pattern as the Asia Pacific.

Key players

Key players profiled in the report include Accuray Incorporated; BrainLab AG; Elekta AB; GE Healthcare; Hitachi America, Ltd.; Hitachi, Ltd.; IBA Group; Nordion Inc.; Philips Healthcare; RaySearch Laboratories AB; Sumitomo Heavy Industries Ltd.; Varian Medical Systems, Inc., among others.

Competitive Landscape

August 01, 2024 – Elekta announced that it has received an order from Hospital Angeles Health System, the largest private healthcare service provider in Mexico, to deliver state-of-the-art linear accelerators (linacs), as well as Elekta Esprit – the company’s latest Gamma Knife system – for a value of approximately USD 64 million.

June 14, 2024 — Atlantic Health System, an integrated health care system setting standards for quality health care in New Jersey, Pennsylvania and the New York metropolitan area, and Mevion Medical Systems, the leading provider of compact single-room proton therapy systems, have announced Atlantic Health System’s plans to acquire and install a MEVION S250-FIT Proton Therapy System™* at the Carol G.

Radiotherapy market scope

• By radiotherapy type
  • External beam radiotherapy (EBRT)/Teletherapy
  • Internal beam radiotherapy (IBRT)/brachytherapy
  • Systemic radiotherapy
  • Others

• By product category
  • EBRT
    • Linear accelerator (LINAC)
    • Cobalt-60 units
    • Others
  • IBRT
  • Systemic radiotherapy
  • Radiotherapy accessories

• By application
  • Oncological
    • Breast cancer
    • Prostate cancer
    • Colorectal cancer
    • Lung cancer
    • Head and neck cancer
    • Brain cancer
    • Others
  • Non-oncology
    • Cardiovascular disorders
    • Ophthalmic disorders
    • Gynecology & obstetrics
    • Urinary disorders
    • Musculoskeletal disorders

• By end-use segments
  • Hospitals
  • Specialty clinics
  • Oncological treatment centers
  • Diagnostic laboratories
  • Research institutes
  • Ambulatory surgical centers
  • Others

• By region
  • North America
  • South America
  • Europe
  • Asia Pacific
  • Middle East and Africa

The research report  provides a comprehensive review of market trends (Technology, Product and Application analysis), market growth drivers, PEST Analysis (Political, Economic, Social and Technological Analysis) Market growth inhibitors, and strategic industry activities and SWOT Analysis of key players in the market. The report provides market estimates and forecast for geographic markets such as the North America (United States, Canada, Mexico and Rest of North America), South America (Brazil, Argentina Chile Colombia Peru Venezuela Ecuador and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Belgium, Finland, Norway, Switzerland, Denmark, Czech Republic, Portugal and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia, Indonesia, Philippines, Malaysia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel, Oman, Bahrain, Saudi Arabia, Qatar, Egypt and Rest of Middle East) & Africa.

Research Methodology