Home Radiation Global Radiation Therapy Devices Market of $ 5.848 Billion 2021: Growth and Change in COVID-19 to 2030

Global Radiation Therapy Devices Market of $ 5.848 Billion 2021: Growth and Change in COVID-19 to 2030

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DUBLIN, September 16, 2021– (BUSINESS WIRE) – The report “Global Radiation Therapy Equipment Market Report 2021: Growth and Evolution of COVID-19 through 2030” has been added to ResearchAndMarkets.com offer.

The global radiation therapy devices market is expected to grow from $ 5.44 billion in 2020 to $ 5.848 billion in 2021 at a compound annual growth rate (CAGR) of 7.5%.

The growth is mainly due to companies resuming operations and adjusting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, the remote work and closure of business activities which resulted in operational challenges. The market is expected to reach $ 7.953 billion in 2025 at a CAGR of 8%.

Artificial intelligence (AI) is a dominant trend in the radiation therapy device market and is gaining popularity in the market. Incorporating AI innovation into disease care is expected to improve the accuracy and speed of analysis, promote clinical dynamics, and lead to better outcomes. For example, in September 2019, Varian Medical Systems, a US manufacturer of radiation oncology medical devices, launched the Ethos artificial intelligence radiation therapy device. The process of organizing traditional treatment takes days to develop an improved transportation plan for radiation therapy treatment; However, new advances in AI are helping to speed up this process. AI is also expected to include deep learning applications in treatment planning, clinical decision support, image-guided automated adaptive radiation therapy, and genomic / radiobiological data mining, thereby supporting growth. of the market.

The Radiation Therapy Equipment market covered in this report is segmented by product type into External Radiation Therapy Equipment; linear accelerator devices; proton therapy devices. It is segmented by application into skin cancer; breast cancer; Prostate cancer; Cervical cancer; lung cancer; others and by end users in hospitals; outpatient surgical centers; oncology treatment centers.

The high cost of radiation therapy is expected to limit the growth of the radiation therapy devices market as it uses complex machinery and employs the services of skilled healthcare providers. The specific expenses for radiotherapy depend on the expenses of medical services such as the patient’s place of residence, the type of radiotherapy and the number of drugs required. For example, proton therapy is an expensive therapy that is typically performed in metropolitan cities or large university centers. The duration of treatment is eight weeks, resulting in huge expenses for treatment and removal. According to the National Cancer Institutes report, approximately $ 150.8 billion was spent nationally on cancer care in 2018 in America. The high costs of cancer treatment are particularly difficult to overcome among the poor or the uninsured or underinsured population. Hence, the high cost associated with radiation therapy procedures is expected to restrain the growth of the market.

In August 2020, Siemens Healthineers, a German-based medical technology company, announced its decision to acquire Varian Medical Systems Inc., for $ 16.4 billion. The agreement is expected to extend Siemens Healthineer’s final goal of a comprehensive and comprehensive oncology portfolio, including linear accelerators, radiosurgery devices and proton therapy suites from Varian, imaging equipment, diagnostics of Siemens laboratory and hospital advisory services. Varian Medical Systems Inc. is an American radiation oncology treatment and software company.

Technological advancements are expected to drive demand for the radiotherapy devices market. Advances in technology are helping to develop lower cost, more effective and more user-friendly products with precise and improved radiation doses for increased performance in targeting tumors. The move from 2D to 3D radiation therapy machines with real-time imaging has enabled high radiation compliance to improve tumor control. For example, in June 2020, Accuray Incorporated, a US-based radiation oncology company, launched the CyberKnife S7 system, a radiation therapy device that combines advanced precision, real-time artificial intelligence, and rapid motion tracking. and timing treatment delivery for stereotaxic body radiation therapy (SBRT) and stereotaxic radiosurgery (SRS) treatments. Hence, the launch of advanced devices is expected to propel the radiation therapy device market revenue in the near future.

Companies mentioned

  • Varian Medical Systems

  • Elekta AB

  • Accuray Inc.

  • CRBard inc.

  • IBA Ion Beam Applications SA

  • Koniklijike Philips NV

  • Siemens AG

  • Eckert & Ziegler Bebig

  • IsoRay, Inc.

  • GE Healthcare

  • Vision RT Ltée.

  • RaySearch AB Laboratories

  • Theragenics Corp

  • Toshiba Medical Systems Corporation

  • AngioDynamics Inc.

  • Mitsubishi electric corporation

  • Shinva Medical Instrument Company Limited

  • Neusoft Medical Sysytems Co. Ltd.

  • Mevion Medical Systems Inc.

  • Optivus Pototon Therapy Inc

  • Panacea Medical Technologies Pvt. Ltd.

  • P-Cure Ltd.

  • Provision of Healthcare LLC

  • Sumitomo Heavy Industries Ltd.

  • Theragenics Company

  • Viewray Inc.

  • Canon Medical Systems Corporation

  • Miranda Medical

  • Nordion inc.

  • NTP Radioisotopes SOC Ltd

  • Curium

For more information on this report, visit https://www.researchandmarkets.com/r/aadx3q

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