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

Regional Analysis

Radiotherapy Market Regional Insights

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North America remains the dominant region in the global radiotherapy market and is estimated to hold 36.2% of the market share in 2024 owing to a well-established healthcare infrastructure and strong presence of industry players in the region. The U.S. alone accounts for over 40% of the total market share due to high adoption of advanced treatment devices such as proton therapy systems, and brachytherapy products among other hospitals and cancer care centers. Moreover, favorable reimbursement policies for diagnostic imaging and cancer treatment procedures have further driven the market growth.

Asia Pacific region has emerged as the fastest growing market. Countries like China, India, Japan, and South Korea are witnessing rapid economic development which is improving access to advanced healthcare facilities. Rising healthcare expenditure, growing public awareness about cancer treatment options, increasing geriatric population base are some of the key factors fueling the Asia Pacific radiotherapy market. The market is witnessing higher imports from global majors to meet the domestic demand. Many global original equipment manufacturers (OEMs) have also set up manufacturing bases or entered into partnerships with local players in high potential countries. This has ensuring steady supply of devices and making them more affordable. As the availability of technologically sophisticated products increases in the region, more patients are opting for advanced radiation therapy procedures.