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 Market Study Report, global radiotherapy market was valued at USD 7987.01 million in 2020 and is slated to record significant growth over 2021-2026.

 

Improving healthcare infrastructure, rising discretionary income as well as rapid technological advancements and soaring research & development activities are catalyzing the growth of global radiotherapy market.

 

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Moreover, incorporation of Artificial Intelligence technology, in consort with several mergers & acquisitions are also propelling the growth of the business domain. For instance, Varian Medical Systems launched an artificial intelligence radiotherapy device named Ethos. On the other hand, Siemens Healthineers AG completed the acquisition of Varian Medical Systems in April 2021, following which Siemens has the most comprehensive portfolio in the MedTech sector.

 

With respect to procedure, worldwide radiotherapy industry is bifurcated into external-beam, and internal-beam radiation therapy. Based on products, the market sphere is fragmented into proton therapy, compact advanced radiotherapy systems, and linear accelerators. In terms of application scope, the industry space is classified into colorectal cancer, lung cancer, breast cancer, prostate cancer, and others.

 

From a regional point of view, the document claims that North America currently holds a major industry share and is expected to continue the same trend over the ensuing years, owing to rising prevalence of cancer particularly among pediatric patients, presence of multinational companies in the region, favorable reimbursement policies, high focus on international sales, and improving economic conditions.

 

Leading companies in global radiotherapy market sphere are Elekta, Mevion Medical Systems, Isoray Inc., Siemens Healthineers AG, P-Cure Ltd., Accuray Incorporated, IntraOp Medical Corporation, Varian Medical Systems, ViewRay Inc., and The Eckert & Ziegler Group among others.