Home Press Releases Intensity-modulated Radiotherapy Market worth $2.8 billion by 2028 , growing at a CAGR of 5.2%

Intensity-modulated Radiotherapy Market worth $2.8 billion by 2028 , growing at a CAGR of 5.2%

by Press Room


 


(EMAILWIRE.COM, November 10, 2023 ) The report “Intensity-modulated Radiotherapy Market by Radiation Type (Photon,Electron Beam, Proton and Carbon-Ion Radiation) Application (Prostate, Lung, Breast), End Users ( Hospitals and Independent Radiotherapy centers), and Region – Global Forecasts to 2028″, 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 expansion of the Intensity-modulated radiotherapy market is propelled by several synergistic factors, including robust healthcare infrastructure, escalating cancer prevalence, conducive reimbursement policies, technological innovations, active research initiatives, well-defined regulatory frameworks, growing minimally invasive procedure adoption, and the presence of key market players in developing regions. This amalgamation of drivers has engendered substantial market growth. Continued technological advancements, heightened emphasis on non-invasive cancer interventions, and a supportive healthcare ecosystem are anticipated to sustain this upward trajectory. Nevertheless, market expansion faces constraints posed by competitive alternatives, including automated radiation therapy systems, intensity modulation radiation therapy (IMRT), and other radiotherapeutic approaches.

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The breast cancer application segment accounted for a significant share of the Intensity-modulated radiotherapy market in 2022-2027

Based on the application, the intensity-modulated radiotherapy market is segmented into breast cancer, prostate cancer, head & neck cancer, lung cancer, gastrointestinal cancer, brain cancer, and other applications. The rising incidence of cancer worldwide is a significant driver for the intensity-modulated radiotherapy market. This is attributed to an enhanced level of patient comfort, particularly pertinent for individuals undergoing breast cancer treatment. This augmentation distinctly contributes to the advancement and attractiveness of the intensity-modulated radiotherapy market.

IMRT enables precise tumor localization, enabling dynamic adjustments during treatment to ensure accurate radiation delivery to the tumor site. This adeptness minimizes the risk of impacting neighboring healthy tissues unfavorably. As a result, this capability significantly contributes to the amplification of the market prominence of image-guided radiation therapy, fortifying its appeal and value proposition.

Hospitals segment to register for the largest market share of the Intensity-modulated radiotherapy market 2022-2028

The major end users in the Intensity-modulated radiotherapy market are independent radiotherapy centers and hospitals. Hospitals is expected to account for a major market share in 2022. The precision inherent in IMRT tumor-targeting proficiency and its streamlined treatment delivery harmonize seamlessly with the necessity of proficiently managing the patient caseload. This symbiotic convergence not only optimizes patient-centric care but also elevates the market appeal of intensity-modulated radiation therapy, establishing it as a pivotal therapeutic modality for healthcare establishments addressing the complexities of cancer treatment management.

Overall, Within the sphere of intensity-modulated radiation therapy (IMRT), the hospital’s end user segment strategically capitalizes on its comprehensive healthcare provisions, state-of-the-art infrastructure, synergistic collaborative milieu, and unwavering commitment to patient-centered care to propel adoption. The cumulative impact of these facts distinctly fosters the expansion and heightened prominence of IMRT’s presence within the hospital ecosystem, consequently amplifying its market position and traction.

North America to account for a significant market share in the Intensity-modulated radiotherapy market in 2022

In 2022, the North America region is expected to register significant growth in the market during the forecast period. North America comprises US and Canada. North America has an advanced healthcare infrastructure, which is associated with a higher incidence of cancer. In North America, a highly developed healthcare infrastructure coupled with ready access to state-of-the-art medical technologies creates a conducive environment for the assimilation of progressive treatment modalities, such as intensity-modulated radiotherapy market (IMRT). The region’s notably comprehensive healthcare reimbursement frameworks further reinforce the adoption of sophisticated treatments, including IMRT, ensuring its accessibility to a broader spectrum of patients. This confluence of factors substantiates the impetus for the expansion and fortification of the image-guided radiation therapy market.

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These factors collectively contribute to North America’s good market share in the image-guided radiation therapy market, making it a prominent region for the adoption, manufacturing, and research of image-guided radiation therapy.

As of 2022, prominent players in the Intensity-modulated radiotherapy market are Siemens Healthineers AG (Germany), Elekta (Sweden), and Accuray Incorporated (US), among others.



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