Radiotherapy is a treatment procedure that involves the use of high-energy radiation. It is commonly applied to the cancerous tumor because of its ability to control cell growth and is also used to treat benign (non-cancerous) tumors and other conditions like thyroid disease and some blood disorders. Almost half of the cancer patients are being treated by radiation therapy. Nowadays, new treatment techniques such as image guided radiation therapy (IGRT), proton therapy; brachytherapy and stereotactic radiation therapy are being increasingly adopted. Moreover, due to the less risk in proton therapy treatment, it has become the most preferred option for treating cancer. Further, it is projected that the IGRT market will grow at a stronger pace than the overall radiation therapy market as it reduces the long term treatment side effects.
The US is the largest market of radiotherapy devices globally. The US market growth is mainly driven by the increasing incidence of cancers, replacements of older radiotherapy systems and reimbursement levels for radiation therapy. Demand for radiotherapy devices in Asia Pacific region has shown significant growth, mainly driven by China. The key factors driving the growth of the radiation therapy market include higher incidence of cancer, rising healthcare expenditures, rise in aging population and steady rise in global GDP. The major issues faced by the market include stringent regulations and expensive treatments.
This report assesses the Global Radiation Therapy Market in terms of market value along with the study of the regional markets including Asia Pacific, Latin America, North America, and Europe. The increasing competition in the radiotherapy market has been analyzed on number of factors: proton therapy market, installed base and new orders. The report presents some of the major drivers, trends and challenges being faced by the market. It also discusses the company profiles of top four players in radiation therapy market i.e. Varian, Siemens, Elekta, and Accuray.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.