The global need for prompt management is rising in response to the rising prevalence of oncology disorders such lung cancer, prostate cancer and breast cancer. This, in turn, is a crucial driver boosting the radiotherapy market's growth. High-energy radiation used in radiotherapy irreversibly destroys cancer cells' DNA, leading them to die. Higher radiation equipment efficacy and improved clinical results are likely to fuel market growth throughout the forecast period. The high cost of radiation devices is a key impediment to the expansion of the global radiotherapy industry.
The Radixact X9 Tomotherapy, which is integrated with the 2nd generation synchronised respiratory motion management system, will be released in February 2022 by the Department of Radiation Oncology at Max Institute of Cancer Care (MICC), Saket, India. This radiation therapy treatment for cancer patients uses real-time tracking and treatment delivery based on Artificial Intelligence (AI) to guarantee that the tumour is not missed owing to thoracic or abdominal breathing movement during radiation.
According to Coherent Market Insights, Global Radiotherapy Market is estimated to be valued at US$ 7,078.91 Million in 2022 and is expected to exhibit a CAGR of 6.8% during the forecast period (2022-2030).
Some of the top companies highlighted by the Coherent Market Insights are:
1. Accuray Incorporated
Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the Americas, Europe, the Middle East, India, Africa, Japan, China, and rest of the Asia Pacific region. Accuray Incorporated was incorporated in 1990 and is headquartered in Sunnyvale, California. On June 2020, Accuray Launches New CyberKnife® S7™ System, real-time artificial intelligence (AI)-driven motion tracking and synchronization treatment delivery for all stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT) treatments — in as little as 15 minutes.
2. Elekta
Elekta is a global Swedish company headquartered in Stockholm, Sweden that develops and produces radiation therapy and radiosurgery-related equipment and clinical management for the treatment of cancer and brain disorders. On May 2022, Elekta launches new radiosurgery system: Elekta Esprit, faster automated treatment planning for clinicians, more personalized and patient-friendly treatments, and a degree of precision able to protect the mind and the person.
3. CIVCO
The company was founded in 1981. On September 2020, the CIVCO Radiotherapy Comfort Marker 2.0 developed by Medical Precision B.V. Improve your patient’s radiotherapy journey with this revolutionary reference point device which brings a new level of comfort to a patient’s radiotherapy journey. The company is headquartered in Lowa, United States.
4. Hitachi
Hitachi, Ltd. was founded in 1910 and is headquartered in Tokyo, Japan. Hitachi, Ltd. provides information technology, energy, industry, mobility, and smart life solutions in Japan and internationally. On November 19, 2019, Mayo Clinic and Hitachi announced to build first, next generation, carbon ion therapy treatment facility in North America.
5. VIEWRAY TECHNOLOGIES
ViewRay, Inc. designs, manufactures, and markets magnetic resonance imaging (MRI) guided radiation therapy systems to image and treat cancer patients in the United States, France, Taiwan, the United Kingdom, and internationally. The company provides MRIdian, which is an MRI guided radiation therapy system that addresses beam distortion, skin toxicity, and other concerns. The company serves university research and teaching hospitals, community hospitals, private practices, government institutions, and freestanding cancer centers. ViewRay, Inc. markets its MRIdian through a direct sales force and distribution network. The company was founded in 2004 and is headquartered in Oakwood, Ohio.
6. Panacea Medical Technologies
Isoray, Inc., together with its subsidiaries, develops, manufactures, sells, and markets isotope-based medical products and devices for the treatment of cancer and other malignant diseases in the United States and internationally. The company offers CS-1 Cesium-131 brachytherapy seeds for the treatment of prostate, brain, lung, head and neck, gynecological, pelvic/abdominal, and colorectal cancers. It sells its products to facilities or physician practices that utilize various surgical facilities. Isoray, Inc. was founded in 1998 and is based in Richland, Washington
7. Mevion Medical Systems
The company headquartered in U.S was founded on 2004. On October 2022, October 21, 2022 – Mevion Medical Systems, the leading provider of compact proton therapy systems for use in radiation treatment for cancer patients, today introduced its new product, the MEVION S250-FIT Proton Therapy System™., it will be the first and only full proton therapy system that can fit in an existing LINAC vault.
8. ProTom International
ProTom International is a leading device manufacturer of proton therapy technology, founded on 2008. It is headquartered in Texas, U.S. on September 2021, the company has entered into an agreement with the Behnke group, a Texas-based healthcare consulting firm with decades of experience collaborating with healthcare organizations across the U.S. and internationally, the relationship will enhance ProTom's expansion of U.S. markets.
9. Optivus Proton Therapy
Optivus Proton Therapy is a world renowned medical teaching hospital headquartered in San Bernardino,U.S. the company was founded on 1993. Optivus was founded on principals of continuous excellence in design and development of the disease treatment technology it helped to pioneer.
*Definition- Ionizing radiations are used in radiotherapy, commonly referred to as radiation treatment, to administer focused beams of radiation that target and destroy cancerous cells.
