According to the industry analysis 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, which amassed a valuation of USD 7987.01 Mn in 2020, is expected to gain significant traction during 2021-2026.

Increasing pervasiveness of cancer, growing disposable income, focus on improving healthcare infrastructure, commendable technological advancements, and proliferation in research & development activities are the major factors propelling global radiotherapy market.

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Further, the integration of artificial intelligence (AI) in the radiotherapy field to ease disease care is likely to unearth new opportunities for market expansion in the forthcoming years.  Notably, AI aids in speedy analysis and treatment procedure with the inclusion of deep learning technologies in genomic/biologic data mining, automated image guided radiation therapy, clinical decisiveness, and treatment strategy, thereby leading to better results.  

Apart from growth drivers and opportunities, the research literature highlights imminent challenges that may adversely affect profit margins of stakeholders during the analysis timeframe, while also divulging effective solutions to lessen the impact.

For the purpose of comprehension, worldwide radiotherapy industry is bifurcated into product type, procedure, and application spectrum. Each segment is thoroughly analyzed to clarify specific details pertaining to current trends and growth prospects to enable a better understanding of business dynamics among readers.

From a geographical standpoint, North America is poised to spearhead the industry growth over 2021-2026. This development can be attributed to the rising pervasiveness of cancer, which fuels the demand for radiotherapy equipment in the region, in congruence with the presence of major players and favorable reimbursement policies in the area.

Major players in global radiotherapy marketplace are P-Cure Ltd., The Eckert & Zeigler Group, Siemens Healthineers AG, Isoray Inc., ViewRay Inc., Mevion Medical Systems Inc., IntraOp Medical Corporation, Accuray Inc., Elekta, and Varian Medical Systems.

These companies are undertaking strategic mergers, acquisitions, and partnership deals with the aim to expand their product portfolio and service offerings to meet the needs of their consumers and maintain a strong presence in the market.

For instance, in April 2021, Siemens Healthineers AG successfully acquired Varian Medical Systems, a medical technology mogul. This acquisition is key in creating a unique portfolio of laboratory diagnostics, imaging, and artificial intelligence to generate a sizable valuation and ameliorate cancer treatment methodologies.