RADIOTHERAPY MARKET ANALYSIS

Radiotherapy Market, By Product Type (External Beam Radiation, Internal Beam Radiation, and Systemic Radiation), By Therapy Type (External Beam Radiation Therapy, Internal Beam Radiation Therapy, and Systemic Radiation Therapy), By Application (Prostate Cancer, Breast Cancer, Lung Cancer, Colorectal Cancer, Cervical Cancer, and Others), By End User (Hospitals, Oncology Clinics and Ambulatory Radiotherapy Centers), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : May 2024
Code : CMI1320
Pages :205
Formats :
Excel and PDF
Industry : Medical Devices

Market Challenges – High Cost of the Radiotherapy Devices

The major factor that hinders growth of the global radiotherapy market is high cost of radiotherapy devices. For instance, linear accelerator (linac) such as Varian 600CD/6EX, Elekta Precise, and others are priced at a cost ranging from US$ 175,000 to US$ 300,000.

Market Opportunities – Increasing Fundings for Radiation Therapy

Increasing adoption of inorganic growth strategies such as fundings is expected to offer lucrative growth opportunities in the market. For instance, in March 2022, the National Institutes of Health (NIH) granted a funding of US$ 12 million to the Abramson Cancer Center at the University of Pennsylvania, U.S. to study ultra-fast, high-dose FLASH radiation therapy for cancer.