Pune, India, March, 2018/MRFR Press Release/- Market Research Future published a Half-Cooked research report on “Global Image Guided Radiotherapy (IGRT) Market Research Report - Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
ViewRay, Hitachi, Ltd., TOSHIBA CORPORATION, General Electric Company, Siemens AG, Varian Medical Systems, Inc., Vision RT Ltd., C-RAD, Scranton Gillette Communications, XinRay Systems, and Koninklijke Philips N.V. are some of the prominent players at the forefront of competition in the global image guided radiotherapy market and are profiled in MRFR Analysis.
Global Image Guided Radiotherapy (IGRT) Market - Overview
The image guided radiotherapy (IGRT) market is growing mainly due to rising cases of cancer, and other chronic diseases. According to a recent study report published by the Market Research Future, the image guided radiotherapy (IGRT) market is booming and expected to gain prominence over the forecast period. The market is forecast to show a spectacular growth, surpassing its previous growth records with a striking CAGR during the forecast period (2017 – 2023).
Imaging is an essential component of modern day radiotherapy. Depending upon the imaging methods, the IGRT systems are of two type i.e. radiation-based systems, and non-radiation based systems. Non-Radiation Based Systems may employ camera-based systems, electromagnetic tracking, ultrasound, and magnetic resonance imaging systems. Whereas, radiation-based systems includes static as well as real-time tracking.
In IGRT, devices that deliver radiation, such as a linear accelerator or cyclotron/synchrotron, are equipped with specialized imaging technology that allow doctors to image the tumour immediately during the time radiation is delivered. With the help of specialized computer software, these images are compared to the reference images taken during simulation. IGRT is used to treat tumours in different areas of the body which are prone to movement, such as the liver, lungs, and prostate gland, as well as tumours near to the critical organs and tissues. It is often used in association with intensity-modulated radiation therapy, stereotactic radiosurgery proton beam therapy,
Notably, increasing prevalence of the cancer, is the major driving factor for the growth of the global image guided radiotherapy market. According to the statistics suggested by the National Cancer Institute, around 1,685,210 new cases of cancer were diagnosed, in 2016, in the United States. It is also estimated that it is highest in African American men, and lowest in Asian/Pacific Islander women.
Other push factors such as, growing public awareness, increasing adoption, rising technological advancements, rising healthcare expenditure, amendments in reimbursement policies, and increasing geriatric population are also fuelling the growth of the market. Centres for Disease Control and Prevention reported that, in 2015, the Per capita national health expenditures was around USD 9,990. Whereas, the total national health expenditure was USD 3.2 trillion.
Despite these drivers, lack of skilled physicians, high cost associated with the device, are expected to hinder the growth of the Image Guided Radiotherapy market.
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Global Image Guided Radiotherapy (IGRT) Market - Competitive Analysis
The global image guided radiotherapy (IGRT) market is currently dominated by various players. Due to increasing prevalence of cancer various existing and new marketers are continuously coming up with advanced technologies to control various chronic diseases. The global image guided radiotherapy market is currently dominated by numerous players.
ViewRay, Inc. is one of them by holding a strong share in the market. The company designs, manufactures, and markets radiation therapy systems. In Nov 2017, ViewRay, has successfully installed MR-Guided Radiotherapy System in the Washington University. This initiative aims to strengthen its position in USA, and its customer base for ViewRay Inc. In the same year, the company installed the MRIdian Linac in Rigshospitalet, and Herlev Hospitals in Denmark. This initiative aims to strengthen its market in Europe
Varian Medical Systems, Inc. is another renowned market player in image guided radiotherapy market. The company designs, manufactures, sells, medical devices, and software for the treatment of cancer and other medical conditions globally. Varian operates in two major segments i.e. Oncology Systems, and Varian Particle Therapy. In Dec, 2017, Varian’s Halcyon Treatment System received ANVISA Registration from Brazil. With this approval, company has expanded its business in Latin America.
Global Image Guided Radiotherapy (IGRT) Market - Regional Analysis
Owing to the rising medical tourism, and escalating healthcare sector privatization in America, the global Imaging Guided Radiotherapy (IGRT) market is dominated by North America. Moreover the rising prevalence of cancer, and other chronic disease is also boosting the North American market. According to the CDC, in the United States, every year, 7 out of 10 individuals die due to chronic diseases.
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Report details
| Base Year | 2018 |
| Companies Covered | 15 |
| Pages | 80 |
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