In the present global scenario where number of people suffering with different forms of cancer is on the rise, the applications of new and improved as well as conventional forms of radiotherapy are immense. The most important requirement necessitating the development of improved and increasingly accurate radiation therapy is the need to accurately hit only the affected tumor using the radiation beam and avoid damaging the surrounding tissue. Image Guided Radiotherapy is the result of research which has gone into integrating better imaging techniques to facilitate clearer visualization of the cancer tumor(s). Further improvements in the imaging of tumors for radiotherapy applications is the major driver expected to fuel the growth of this market throughout the coming decade.
The global market for radiotherapy is broadly segmented on the basis of location of radiation application, type of cancer and specific technology employed. Based on the severity of the cancer, radiation beam is applied externally, internally or systemically. Radiation beams which are internally applied vary from low dose to high dose therapy based on the requirement. For external application of radiation beam the main technologies available are 3D conformal radiotherapy, adaptive radiation therapy, tomotherapy, image guided and intensity modulated radiation therapy. In gynecological, penile, esophageal and cervical cancers internal radiotherapy finds greater application while external radiotherapy treatments are used in breast, prostate, head, spine, neck, lung and brain cancers. The latest developments in implementation of CT aided intensity modulated radiotherapy and image guided techniques are expected to fuel market growth throughout the forecast period.
Among the four major regions analyzed namely North America, Europe, Asia Pacific and RoW, North America accounted for the largest share of the revenue generated in the global radiotherapy market in the year 2013. Extensive ongoing research and development programs engaged in improving the existing radiation therapy techniques such as integration of image guided and intensity modulated radiotherapy combined with hormone treatment to reduce remission percentages are the factors contributing for its largest share. Further, the presence of unmet medical need and growing number of cancer incidences in the Asia Pacific indicate that the region is expected to remain as a considerably lucrative opportunity over the foreseeable future.
The key market participants for the global radiotherapy market are GE Healthcare, Siemens Healthcare, Protom International Inc., Varian Medical Systems Inc., Nordion Inc., Angiodynamics Inc., C.R. Bard Inc., Accuray Inc., IBA Group and Covidien Plc.
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