Image Guided Radiotherapy Market Scenario
Image Guided Radiotherapy Market Size was valued at USD 2.18 Billion in 2023. The Global Image Guided Radiotherapy industry is projected to grow from USD 2.39 Billion in 2024 to USD 4.59 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.54% during the forecast period (2024 - 2032).
Image guided radiotherapy (IGRT), a type of conformal radiotherapy, involves the use of different scans and X-rays to treat an area of cancer. Conformal radiotherapy shape the radiotherapy beams around the area of the cancerous tissue. It uses X-rays and scans similar to CT scans before and during the radiotherapy treatment. It improves the precision and accuracy of treatment delivery. These therapy are majorly used in the treatment of cancer such as lung cancer, skin cancer, and others. Increasing prevalence of cancer and rapid development in the cancer treatment drives the growth of the market. According to the World Health Organization (WHO), cancer is one of the leading causes of morbidity and mortality worldwide. The data also suggest that about 14 million new cases observed in 2012, which is expected to increase by 70% till 2030. Apart from this, continuously rising demand for the better cancer treatment, increasing healthcare expenditure, and government encouragement for research & development expected to fuel the growth of the market over the corresponding period. On the other hand, high cost of the treatment & devices and side effects of the treatment may slow the market growth over the forecasted period.
Their Image Guided Radiotherapy (IGR) product was launched in March 2024 by Siemens Healthineers and Varian Medical Systems. This helps practitioners provide digital image data for diagnosing, risk stratifying, and treating liver cancer at early stages of discovery. These data also offer guidance points during care.
The Azurion neuro biplane system which was a new version of its Image Guided Therapy (IGT) platform, was launched by Royal Philips, a health technology company, in February this year. A new operating system from Philips called ConnectOS powers the Azurion platform, which streamlines system integration.
The Central Luzon Integrated Oncology Centre (CLIOC) seeks to simplify the journey of cancer patients and provide advanced treatments because there is an overrepresentation of cancer patients in the Philippines with limited access to treatment. At the Mother Teresa of Calcutta Medical Center (MTCMC), CLIOC introduced Radixact, Radiation Them, which is the most advanced radiation therapy machine available in the country, hence, enhancing the capabilities of the center towards the provision of cutting-edge cancer care.
Zenition 10 expanded Philips’ mobile C-arm portfolio in May 2023.
Pixxoscan enlarges GE HealthCare’s Magnetic Resonance Imaging (MRI) contrast agent offerings, with Clariscan (gadoteric acid) and Pixxoscan (gadobutrol) being two macrocyclic molecules leading customers now have access to.
On April 3, 2023, after long expectation, U.S. National Cancer Institute released a comprehensive National Cancer Plan as both an action blueprint and a call for change across all aspects of cancer control, ranging from prevention through screening and early detection to treatment and survivorship care.
December 2022 witnessed Cancer Moonshot Announces New Actions Aimed to Reduce the Cancer Burden in Africa as Part of US The United States Cancer Moonshot initiative has made bold deliverables and new announcements from the U.S. departments and agencies and private sector of over $300 million to dramatically improve cancer outcomes in Africa.
Key Players
- 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)
Image Guided Radiotherapy Market Segmentation
The global image guided radiotherapy market is segmented on the basis of types, technology, devices, application, and end users.
On the basis of types
The market is segmented into soft-tissue imaging, lung MRI, simplifying cardiac MRI, simplifying MRI-conditional implant scans, and silent MRI scanning.
On the basis of technology the market is segmented into radiation-based
Non-radiation based systems, and others. Radiation-based system is further segmented into electronic portal imaging devices (EPID), cone beam CT, Fan beam, and others. Non-radiation based systems are further segmented into ultrasound-based systems, camera-based or optical tracking systems, MRI-guided IGRT, and others.
On the basis of devices
The market is segmented into X-ray computed tomography (CT), magnetic resonance imaging (MRI), positron emission tomography, and others. X-ray computed tomography market is further segmented into digital X-ray, computed tomography (CT), conventional CT, optical tracking, cone beam, MVCT, and others.
On the basis of end users
The market is segmented in hospitals, smart cancer centers, research institutes, and others.
Regional Analysis
The Americas account for the largest share in the global image guided radiotherapy market owing to the presence of huge patient population and increasing healthcare expenditure. According to the American Cancer Society, in 2016, over 1,688,780 cancer cases were diagnosed in the America. Moreover, increasing awareness among the people and well-developed technology have fuelled the market growth. Europe is the second largest market and holds a noticeable share in the global image guided radiotherapy market. The European market is expected to grow significantly during the forecast period owing to availability of advanced treatment facilities, skilled medical professionals, and the government support for research & development. Asia Pacific accounts for the fastest growing market owing to increasing prevalence of cancer, rising awareness about the cancer, and availability of new treatment methods. In Asia Pacific, the market shows growth opportunities in China and India. However, the Middle East & Africa is expected to show the least growth in this market due to lack of awareness, limited development in healthcare technology, and availability of treatment facilities
Intended Audience
- Pharmaceutical Manufacturers and Suppliers
- Radiology Devices Manufacturers and Suppliers
- Medical Research Laboratories
- Research and Development (R&D) Companies
- Market Research and Consulting Service Providers
|
Report Attribute/Metric
|
Details
|
|
Market Size
|
USD 4.59 Billion
|
|
CAGR
|
7.54%
|
|
Base Year
|
2021
|
|
Forecast Period
|
2024-2032
|
|
Historical Data
|
2020
|
|
Forecast Units
|
Value (USD Million)
|
|
Report Coverage
|
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
|
|
Segments Covered
|
Types, Technology, devices, Application, and End users
|
|
Geographies Covered
|
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
|
|
Key Vendors
|
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), and C-RAD (Sweden)
|
|
Key Market Opportunities
|
· The Americas account for the largest share in the global image guided radiotherapy market owing to the presence of huge patient population and increasing healthcare expenditure
· The European market is expected to grow significantly during the forecast period owing to availability of advanced treatment facilities, skilled medical professionals, and the government support for research & development.
· Asia Pacific accounts for the fastest growing market owing to increasing prevalence of cancer, rising awareness about the cancer, and availability of new treatment methods.
|
|
Key Market Drivers
|
· Increasing prevalence of cancer
· Rapid development in the cancer treatment
|
Frequently Asked Questions (FAQ) :
Image guided radiotherapy market is set to accrue revenues at 7.54% CAGR from 2024-2032.
The use of IGRT in treatment of cancer and recurrence of cancer are major factors driving the global image guided radiotherapy market.
High treatment costs and side-effects of the treatment can challenge the global image guided radiotherapy market.
The Americas will be the dominant region of the global image guided radiotherapy market till 2032.
Varian Medical Systems, Inc., Koninklijke Philips N.V., ViewRay, General Electric Company, Hitachi, Ltd., Scranton Gillette Communications, Siemens AG, TOSHIBA CORPORATION, C-RAD, XinRay Systems, and Vision RT Ltd. are notable players of the image guided radiotherapy market.
