According to the research report titled ‘Global Radiotherapy Market - Analysis By Procedure (External Radiation, Internal Radiation), Product, Application, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global radiotherapy market was worth USD 7987.01 million in 2020 and is anticipated to garner notable returns by the year 2026.

Increasing healthcare spending as a result of growing disposable income of individuals, quick technical improvements, and rising prevalence of cancer are propelling the global radiotherapy industry trends.

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Moreover, developing healthcare infrastructure and increased R&D activities with incorporation of AI are expected to bolster the marketplace during the forecast period.

For the unversed, artificial intelligence (AI) is gaining popularity radiation industry in recent time. Incorporating AI innovation into disease treatment is predicted to improve analytical precision and speed, aid clinical dynamics, and result in better outcomes, thereby fuelling the market expansion.

Furthermore, technological advancements leading to virtual consultations, online patient portals, and introduction of patient monitoring devices & apps, is easing the jobs of healthcare personnel while filling up for the shortage of oncologists, thus propelling the industry growth.

Ability of AI developments in making enhanced radiation therapy conveyance plan at a rapid rate, along with deep learning applications in treatment planning, automated image-guided adaptive radiation therapy, clinical decision support, and genomic/radiobiologic data mining are all projected to expand the market size.

In terms of procedure, worldwide radiotherapy industry is divided into internal beam radiation therapy, and external beam radiation therapy. Based on product terrain, the market is branched into compact advanced radiotherapy systems, proton therapy, and linear accelerators. Speaking of application spectrum, the marketplace is classified into prostate cancer, colorectal cancer, lung cancer, breast cancer, and others.

Regionally speaking, North American industry holds major revenue share at present and is anticipated to grow significantly during the review period, due to growing incidences of cancer among paediatric patients, favourable reimbursement rules, and the presence of renowned international corporations.

Coming towards competitive hierarchy, the leading players affecting the global radiotherapy market dynamics are P-Cure Ltd., Eckert & Ziegler Group, Siemens Healthineers AG, IntraOp Medical Corporation, IsoRay Inc., ViewRay Inc., Mevion Medical Systems Inc., Accuray Incorporated, Elekta, and Varian Medical Systems.