The hospital segment is likely to account for the majority of radiotherapy device market share.
The rising number of private hospitals in emerging markets, combined with the large pool of cancer patients visiting hospitals for diagnosis and treatment, is one of the primary factors driving the growth of the hospital radiotherapy market.
Other important factors supporting the growth of the hospital radiation therapy equipment market include expanding healthcare infrastructure and increased accessibility to healthcare services due to the increased adoption of health insurance.
In 2020, the global radiotherapy devices market is expected to be worth around $5 billion, accounting for close to 4% of the overall oncology devices market.
Radiotherapy equipment sales are expected to grow at a 7 percent CAGR to reach US$ 10 billion by 2031. Demand for linear accelerator devices, which currently hold the largest market share, is expected to grow at a CAGR of 6% from 2021 to 2031.
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