Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Radiotherapy can be referred as local treatment that uses high doses of radiation to kill cancer cells and shrink tumors. It uses the high-energy radiation from x-rays, gamma rays, neutrons, protons, and other sources. Radiotherapy uses radioactive substances that has ability to travels in the blood to tissues throughout the body. The radiation therapy works by damaging the DNA of cancerous cells. This therapy cures all types of cancers as well as improving the quality of life for many others. It is one of the cost effective treatment used to cure cancer.
The huge government and non-government investments in R&D of cancer treatment and increasing number of people suffering from various cancers will driving the market growth in United States. Likewise, rising number of conferences and symposia focusing on spreading awareness about the benefits of radiotherapy globally will drive the market growth in upcoming years. Nevertheless, inadequate resources to meet the demands of the radiotherapy and shortage of skilled oncologists or radiologists are the major restraining factor that could hamper the growth of the market.
The COVID 19 outbreak had significant impact on the healthcare market. As the rise in COVID 19 cases, for prevention purpose government has announced lockdown in many countries which lead to postponing of radiotherapy procedures which will affect radiotherapy market. Due to closed manufacturing facilities it will disrupted the supply and production chains. The number of emerging patients towards radiotherapy emergency services which is available in almost all centers are reduced. Due to this scenario, COVID 19 negatively impacted the growth of the overall radiotherapy devices market in 2020.
The study analyses United States radiotherapy market based on product, application, procedure and end users.
According to the product involve in radiotherapy market is categorized into external beam radiotherapy, internal beam radiotherapy/brachytherapy and systemic radiotherapy. The external beam radiotherapy is sub-segmented into conventional linear accelerators (LINAC), conventional cobalt-60 teletherapy units, and stereotactic advanced electron and particle therapy systems. The internal beam radiography is sub-segmented into seeds, afterloaders, applicators and IORT Systems. The conventional linear accelerators (LINAC) segment accounted for the largest share of the external beam radiotherapy market in 2020. Medical LINAC systems are the most widely used devices to deliver conventional EBRT, such as IMRT, IGRT, volumetric modulated arc therapy (VMAT), SRS, and SBRT.
The radiotherapy market finds has application in the external and internal beam radiotherapy. The external beam radiotherapy is sub-segmented into Prostate Cancer, Breast Cancer, Lung Cancer, Head and Neck Cancer and Colorectal Cancer. The internal beam radiotherapy/brachytherapy applications market is segmented into prostate cancer, gynecological cancer, breast cancer, cervical cancer, penile cancer, and other cancers. The breast cancer segment dominated the internal beam radiotherapy applications market in 2020. The rise in cases of breast cancer as well as it delivers a precise, highly concentrated radiation dose to the target tumor within less treatment time will fuel market growth.
According to various procedures used in the radiotherapy market are classified into external and internal beam radiotherapy. The external beam radiotherapy is sub-segmented into Image-guided Radiotherapy, Intensity-modulated Radiotherapy, Stereotactic Therapy, Particle Therapy and 3D Conformal Radiotherapy. The image guided radiotherapy (IGRT) segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period 2021-2027. The primary advantage of IMGT is that it can deliver high doses of radiation to cancer sites. Hence, demand for IMGT has increased.
Based on the various end users the radiotherapy market is categorized into Hospitals and independent radiotherapy centers. The hospitals segment leads the market in 2020 and is witnessing fastest growth in upcoming years. The factors that driving segmental growth are rising cases of cancer in United States along with establishment of new private hospitals for diagnosis and treatment purpose.
The major key players of market includes Varian Medical Systems, Inc. (US), Accuray Incorporated (US), BD (US), ICAD, Inc. (US), IntraOp Medical, Inc. (US), IsoRay Medical, Inc. (US), Mevion Medical Systems, Inc. (US), P-cure Ltd. (Israel),ViewRay, Inc. (US).
November 2020: Elekta AB (Sweden) received CE mark for the Elekta Harmony linear accelerator, clearing the technology for commercial sales in Europe.
April 2020: Elekta AB (Sweden) launched Geneva, the first universal gynecological applicator for brachytherapy. Geneva applicator is CE-marked and has received US FDA 510(k) clearance. It is used for cervical cancer up to stage IIB.
June 2020: Accuray Incorporated (US) launched the CyberKnife S7 System, an innovative device combining speed, advanced precision, and real-time AI-driven motion tracking and synchronization treatment delivery for all stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT) treatments.
The study analyses United States radiotherapy market product, application, procedure and end users. Radiotherapy plays key role in treating cancer by radiating the tumor cells and destructing its growth and division procedure. The primary growth factors behind the market growth are technological advancements and expansion of the target patient population. The application areas in radiotherapy market are prostate cancer, breast cancer, lung cancer, head and neck Cancer and colorectal cancer. Besides this, increasing applications of radiotherapy and increasing R&D funding for pharma and biotech companies will boosts the market growth. Improving healthcare infrastructure in many regions will drive radiotherapy market growth in upcoming years. The rise in adoption of radiotherapy products in all over the population is expected to impede market growth over the forecast period 2021-2027.
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