The report on the global RadiotherapyMarket 2021 gives a fundamental introduction of the industry, includingdefinitions, classifications, applications, and the industrial chain structure.The Radiotherapy market research also keeps track of the most recentmarket trends, such as driving and restraining forces, as well as industry newssuch as mergers, acquisitions, and investments. It gives market size (value andvolume), market share, growth rate by kinds, and applications, as well as microand macro forecasts in various regions or nations using both qualitative andquantitative approaches.
"The Global Radiotherapy Market Report2021-2026" includes extensive primary research as well as a detailedanalysis of the market's qualitative and quantitative components.
The global radiationdevices market is predicted to increase at a compound annual growth rate (CAGR)of 7.5 percent from $5.44 billion in 2020 to $5.848 billion in 2021. Companiesare resuming operations and adapting to the new normal as they recover from theCOVID-19 impact, which had previously resulted in restrictive containmentmeasures such as social distancing, remote working, and the closure ofcommercial activities, all of which created operational challenges. At anannual growth rate of 8%, the market is estimated to reach $7.953 billion in2025.
The Radiotherapy Market is expected to grow inresponse to technological advancements. Technology is assisting in thedevelopment of low-cost, more effective and efficient, and user-friendlysolutions with precise and enhanced radiation dosages for improved tumourtargeting performance. The transition from 2D to 3D Radiotherapy Market withreal-time imaging allowed for higher radiation conformity and improved tumour control.
Because it includes the use of complex machines and theservices of professional health care providers, the high cost of radiation isexpected to hamper the growth of the Radiotherapy Market. The cost ofradiation treatment is determined by factors such as the cost of medicalservices, the location of the patient's domicile, the type of radiationtreatment, and the number of drugs necessary. Proton Therapy, for example, is ahigh-cost treatment that is typically performed in major metropolitical citiesor academic areas. The treatment lasts eight weeks, resulting in a significantfinancial outlay for treatment and relocation.
Siemens Healthineers, a German medical technology business,announced its intention to buy Varian Medical Systems Inc. for $16.4 billion inAugust 2020. The acquisition is expected to help Siemens Healthineer achieveits goal of having an overarching and comprehensive oncology portfolio, whichwill include Varian's linear accelerators, radiosurgery devices, and proton therapysuites in addition to Siemens' imaging hardware, laboratory diagnostics, andhospital consulting services. Varian Medical Systems Inc. is a radiationoncology treatment and software firm established in the United States.
The COVID-19 outbreak wreaked havoc on the radiationbusiness in the first two quarters of 2020. Lockdowns and non-functionalcancer-specialty hospitals and oncology departments at multispecialty hospitalsin numerous nations are to blame for the market decline. Aside from that, limitedair transport services hampered international trade of radiotherapy systems andassociated accessories, putting a damper on the market.
Chronic disease burdens are increasing in both low- andmiddle-income countries (LMICs) and high-income countries. For example, canceris one of the most common chronic disorders worldwide. According to theAmerican Institute of Cancer Research, there will be roughly 25 million newcancer cases by 2030. The majority of these instances will be reported in low-and middle-income countries (LMICs), such as India and China. Furthermore,according to the World Health Organization (WHO), cancer claimed the lives of9.6 million people in 2018, with LMICs accounting for 70% of those who died.This number can be reduced if effective medical care is provided early on,which can be performed through radiotherapy and chemotherapy.
