Image Guided Radiotherapy Market to Boost at a CAGR of 15.8% Due to Rapid Development in Cancer Treatment During 2019-2023, Asserts MRFR
Image Guided Radiotherapy (IGRT) is referred as a type of conformal radiotherapy that involves the use of different scans and X-rays to treat an area of cancer. It firmly shapes the cancerous tissue with radiotherapy beams and scans before and during the radiotherapy treatment. Such therapy is mostly used in the treatment of cancer such as lung cancer, skin cancer, and more. There have been some significant factors that are driving the global IGRT market, which has been covered in this report in a precise way.
Image Guided Radiotherapy Market – Key Players
Some of crucial the players in the global Image Guided Radiotherapy market are
- ViewRay (US)
- General Electric Company (US)
- Hitachi, Ltd. (Japan)
- Siemens AG (Germany)
- Koninklijke Philips N.V. (Netherland)
- TOSHIBA CORPORATION (Japan)
- Varian Medical Systems, Inc. (US)
- Vision RT Ltd. (UK)
- Scranton Gillette Communications (US)
- XinRay Systems (US)
- C-RAD (Sweden)
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Image Guided Radiotherapy Market – Drivers & Trends
According to the reports by MRFR, the global Image Guided Radiotherapy Market is experiencing a whistle-stop growth owing to the factors such as the increasing prevalence of cancer and rapid development on the cancer treatments. The report has also asserts that according to the World Health Organization (WHO), cancer is one of the leading causes of morbidity and mortality across the world. The data on this parameter suggests that about 14 million new cases were observed in 2012, which is expected to proliferate by 70% until 2030.
However, factors such as continuously rising demand for improved cancer treatment, increasing healthcare expenditure, and government activities for research & development are considerably driving the global IGRT market with higher CAGR over the corresponding period. Apart from this, the growth rates of different types of cancer call for new and advanced treatment options. These developing therapies for cancer can have huge demand in future, which can contribute substantially in the market growth over the assessment period.
On the flip side, the high cost of the radiotherapy treatment & devices along with its side effects, can sluggish the growth of global IGRT market over the review period.
Image Guided Radiotherapy Market – Segmentation
The global Image Guided Radiotherapy Market has been segmented by types, technology, devices, application, and end users.
In terms of types, the market is segmented into soft-tissue imaging, lung MRI, simplifying cardiac MRI, simplifying MRI-conditional implant scans, and silent MRI scanning.
In terms of technology, the market is segmented into radiation-based, non-radiation based systems, and others. Wherein, the radiation-based system is further segmented into electronic portal imaging devices (EPID), cone beam CT, Fan beam, and others. Further, non-radiation based systems are segmented into ultrasound-based systems, camera-based or optical tracking systems, MRI-guided IGRT, and others.
In terms of devices, the market is segmented into X-ray computed tomography (CT), magnetic resonance imaging (MRI), positron emission tomography, and others. Wherein, X-ray computed tomography market is further segmented into digital X-ray, computed tomography (CT), conventional CT, optical tracking, cone beam, MVCT, and others.
In terms of end users, the market is segmented in hospitals, smart cancer centers, research institutes, and others.
Image Guided Radiotherapy Market – Regional Outlook
The regional analysis of global Image Guided Radiotherapy Market is carried out across the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas is currently leading the market share as the presence of a vast patient population as well as increasing healthcare expenditure has made it possible. Apart from this, increasing awareness among people about radiotherapy treatments and well-developed technology have substantially fueled the global IGRT market growth.
Europe holds the second largest market and has a noticeable share as well. Furthermore, the availability of advanced treatment facilities, skilled medical professionals, and the government support for research & development has expectedly contributed to the market growth in this region.
The Asia Pacific is anticipated to be the fastest growing market with countries like India and China investing heavily in the healthcare sector with increasing awareness about cancer. India and China are also working towards making people aware of cancer disease along with the possible and affordable new treatment methods. These are the factors that show remarkable growth opportunities in China and India. However, the Middle East & Africa is likely to show the least growth rate in this market owing to lack of awareness, limited development in healthcare technology, and availability of treatment facilities.
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