According to the research report titled ‘Global Radiation Therapy Market a?? Analysis By Product Type (External Beam RT, Internal Beam RT), By Application, By End User, By Region, By Country (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)’, available with Market Study Report, global radiation therapy market was valued USD 5216.04 million in 2019 and is projected to register a healthy growth rate over 2020-2025.
 

Expert analysts claim that growing prevalence of cancer, rising public health expenditure, and government initiatives to improve healthcare facilities are promoting global radiation therapy industry development.
 

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For the record, United states boasts of the highest number of radiation therapy facilities per million patients globally. On the other hand, China has the lowest number of facilities among developing countries, with less than 1 facility per million patients. Hence, lack of radiation therapy facilities in emerging economies like India and China are likely to open up new growth avenues for businesses operating in this domain.
 

Based on product type, the market is fragmented into internal beam radiation therapy market and external radiation therapy market, among which, the latter segment is touted grow considerably in the forthcoming years. Rising burden of breast cancer, lung cancer, along with increasing emphasis on research and development are fostering the segmental expansion.
 

In terms of application spectrum, worldwide radiation therapy market is split into dedicated clinics and hospitals & others. Of these, hospitals & others segment is set to capture significant industry share in the forthcoming years, attributable to increasing collaborations and partnerships between manufacturers and healthcare workers to better understand the consumer requirements and deliver the desired products.
 

Considering the geographical scope, Americas (United States, Canada, Mexico), Europe (Italy, France, Germany, United Kingdom), and Asia Pacific (India, China, Japan) are the key contributors to the overall market growth.
 

Europe, followed by Americas and Asia Pacific, will witness immense growth in the forthcoming years due to strong presence of leading industry manufacturers and growing cognizance among people regarding cancer.
 

Prominent players in global radiation therapy market sphere are Hitachi Corp., Mevion Medical Systems, C.R. Bard Inc., Panacea Medical Technologies Pvt. Ltd., Elekta AB, Optivus Proton Therapy Inc., Isoray Inc., ViewRay Inc., Accuray Inc., and Varian Medical Systems Inc.