The global image-guided radiation therapy market is
experiencing growth due to several factors such
as increase in prevalence of cancer, technological
advancements in imaging modalities, and growth in trend towards
personalized medicine.
WILMINGTON, Del.,
Aug. 13,
2024 /PRNewswire/ -- Allied Market Research published
a report, titled, "Image-Guided Radiation Therapy
Market by Product (4D RT, LINAC, MRI-guided Radiotherapy,
Portal Imaging and CT Scanning), Procedure (IMRT (intensity
modulation radiation therapy) , Stereotactic Therapy, Particle
Therapy, Others), and End User (Hospitals, Independent Radiotherapy
Centers and Others): Global Opportunity Analysis and Industry
Forecast, 2024-2033". According to the report, the image-guided
radiation therapy market was valued at $1.9
billion in 2023, and is estimated to reach $3.3 billion by 2033, growing at a CAGR of 5.7%
from 2024 to 2033.
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Therapy Market Forecast 2033
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Prime determinants of growth
Image-guided radiation therapy (IGRT) is experiencing
significant growth due to several key drivers such as technological
advancements in imaging modalities such as MRI, CT, and PET have
greatly enhanced the precision and accuracy of radiation delivery,
allowing for more targeted treatment of tumors while minimizing
damage to surrounding healthy tissue. For instance, the integration
of MRI-guided radiation therapy systems such as the ViewRay MRIdian
system enables real-time visualization of tumors during treatment,
leading to improved outcomes.
In addition, the rising incidence of cancer globally, coupled
with the increasing demand for personalized medicine, has fueled
the adoption of IGRT as a preferred treatment modality. With the
ability to tailor radiation therapy to individual patient anatomy
and tumor characteristics, IGRT offers enhanced efficacy and
reduced side effects. Lastly, favorable reimbursement policies and
government initiatives aimed at promoting advanced cancer treatment
technologies have further stimulated market growth by facilitating
accessibility to IGRT systems for both healthcare providers and
patients. For instance, reimbursement policies in countries like
the U.S. incentivize the adoption of IGRT by covering a significant
portion of treatment costs, thereby encouraging investment in this
technology by healthcare facilities. Overall, these drivers are
propelling the growth of the IGRT market during the forecast
period.
Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2033
|
Base Year
|
2023
|
Market Size in
2023
|
$1.8 Billion
|
Market Size in
2035
|
$3.3 Billion
|
CAGR
|
5.70 %
|
No. of Pages in
Report
|
260
|
Segments
Covered
|
Product, Procedure, End
User and Region.
|
Drivers
|
Favorable Reimbursement
Policies
|
|
Increasing Prevalence
of Cancer
|
|
Technological
Advancements in Imaging Modalities
|
Opportunities
|
Continued research and
development to improve IGRT efficacy and patient
outcomes
|
|
Growth opportunities in
emerging economies
|
Restraint
|
High cost associated
with advanced imaging modalities
|
|
Stringent regulatory
requirements for product approval
|
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Segment Highlights
Widespread Application of Linear Accelerators (LINAC) in
Treating a Variety of Cancers
Linear Accelerators (LINAC) remain one of the largest and most
significant segments, primarily due to their widespread application
in treating a variety of cancers. LINAC's ability to deliver
high-energy x-rays or electrons with precision makes it a
cornerstone in both conventional and advanced radiotherapy
techniques. The segment is further driven by continuous
technological advancements, including the integration of real-time
imaging, which enhances treatment accuracy and patient
outcomes.
4D Radiotherapy (4D RT) represents a significant leap in
radiotherapy by incorporating the dimension of time into treatment
planning and delivery. This segment is driven by its capability to
account for tumor motion due to breathing or other bodily
movements, thereby improving the precision of radiation delivery.
As a result, 4D RT reduces damage to surrounding healthy tissues,
which is a critical factor in patient recovery and quality of life
post-treatment.
MRI-guided radiotherapy is another rapidly growing segment,
driven by its superior soft tissue imaging capabilities. The
integration of MRI with radiotherapy allows for real-time
visualization of tumors and surrounding tissues, facilitating more
accurate targeting and adaptation of treatment plans. This
technology is particularly beneficial for treating cancers located
near or within soft tissues, such as the brain, liver, and
prostate, where precision is paramount.
Precision and Effectiveness of IMRT in Targeting
Tumors
IMRT driven by its precision and effectiveness in targeting
tumors while sparing surrounding healthy tissues. This advanced
technique allows for the modulation of radiation doses to conform
to the three-dimensional shape of the tumor, resulting in fewer
side effects and improved patient outcomes. The increasing
prevalence of cancer and the rising demand for minimally invasive
treatment options further bolster the growth of the IMRT
segment.
Stereotactic therapy, another significant segment, is gaining
traction due to its ability to deliver high doses of radiation with
pinpoint accuracy over a few sessions. This method is particularly
beneficial for treating small to medium-sized tumors in sensitive
areas such as the brain, spine, and lungs. The technological
advancements in imaging and treatment planning systems enhance the
effectiveness of stereotactic therapy, making it a preferred choice
for patients and healthcare providers alike.
Particle therapy, which includes proton and carbon ion therapy,
represents a growing segment due to its superior precision and
reduced side effects compared to conventional radiation therapies.
Proton therapy, in particular, is noted for its ability to deliver
high doses of radiation to tumors while minimizing damage to
surrounding tissues. The high initial investment and operational
costs are offset by the clinical benefits and increasing adoption
of particle therapy centers worldwide.
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Regional Outlook
North America to maintain
its dominance by 2033
North America held the highest
market share in terms of revenue in 2023, owing to rise in
prevalence of chronic disease cases, presence of key players
offering image radiation therapy products, ease of availability,
and developed healthcare infrastructure drive the growth of the
market. However, emerging countries are experiencing a surge in
healthcare spending as economies develop and populations increase.
This increased investment in healthcare infrastructure, technology,
and services creates a conducive environment for the adoption of
image-guided radiation therapy devices.
Key Players:
- Varian Medical Systems Inc.
- Elekta AB
- Accuray Incorporated
- ViewRay Inc.
- Siemens Healthineers AG
- Hitachi Ltd.
- Brainlab AG
- Mevion Medical Systems Inc.
- C-RAD AB
- Sumitomo Heavy Industries Ltd.
The report provides a detailed analysis of these key players in
the global image-guided radiation therapy market. These players
have adopted different strategies such as new product launches,
collaborations, expansion, joint ventures, agreements, and others
to increase their market share and maintain dominant shares in
different regions. The report is valuable in highlighting business
performance, operating segments, product portfolio, and strategic
moves of market players to showcase the competitive scenario.
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