Radiation Therapy Market Size, Share, Trends, Growth | 2022

The global radiation therapy market Size was valued at USD 6.2 billion in 2021, growing at a CAGR of 5.2% during the forecast period 2022 to 2028. The employment of X-rays and other forms of radiation technologies in radiotherapy treatment is primarily for the treatment of cancer condition. High-energy based radiation rays are used in radiotherapy to harm cancer-causing cells and prevent the growth and proliferating. The benefits of radiotherapy treatment include the ability to correctly and directly pinpoint cancer wherever it may be in the body. The method and technique of radiation has progressed with the introduction of new treatment planning software and new features-based therapeutic modalities, which demand highly competent and certified people to operate.

 
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The number of persons affected by various cancers has always been a primary driving force in this industry. One of the most serious life-threatening diseases of our day is cancer. Cancer is the second biggest cause of mortality worldwide, as per the World Health Organization, with a projected 9.6 million deaths in 2018. Cancer is responsible for around one out of every six deaths worldwide. Cancer kills around 70% of people in low and middle-income nations. In the United States, squamous cell carcinoma accounts for roughly 6% of all cancer cases. With roughly 56,000 cases identified each year, it is the 15th most common kind of cancer in Europe. Inadequate resources to satisfy the demands of radiation, as well as a shortage of competent, experienced personnel to handle the workload, may be found in all of the key markets. The actual number of experienced workers necessary to perform a radiation operation is determined by a variety of parameters, including the number of patients treated as well as the treatment's complexity and the nature of the local devices.

The global radiation therapy market segmentation:
 1) By Product: External Beam RT, Internal Beam RT
 2) By Type: Image-guided Radiotherapy (IGRT), Intensity-modulated Radiotherapy (IMRT), Stereotactic Therapy, 3D Conformal Radiotherapy (3D-CRT), Particle Beam Therapy, Others. 
 3) By Application: Prostate Cancer, Breast Cancer, Lung Cancer, Head & Neck Cancer, Colorectal Cancer, Others cancers
 4) End User: Hospitals, Independent Radiotherapy Centers 

North America dominated the global radiotherapy market, followed by Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Nonetheless, due to its rapid economic expansion of many nations in the region, rising cancer incidence, and increased government focus on the healthcare industry, Asia-Pacific will be the highest expanding regional market. Other significant factors propelling the growth of the Asia-Pacific radiotherapy market include government attempts to develop medical facilities and increased health insurance adoption.
 
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 There are some major players working in radiation therapy market, which include Varian Medical Systems, Inc. (US), Elekta (Sweden), Accuray Incorporated (US), Ion Beam Applications SA (Belgium), ViewRay, Inc. (US), IsoRay Medical, Inc. (US), Hitachi Ltd. (Japan), Panacea Medical Technologies Pvt. Ltd. (India), Provision Healthcare (US), Mevion Medical Systems, Inc. (US)

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