North America Radiotherapy Market is expected to reach US$ 4,007.3 million by 2028

External-Beam Radiation Therapy Segment has the Largest Share of Type in the North America Radiotherapy Market during 2021–2028

According to a new market research study on “North America Radiotherapy Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Product, Application, and End User” is expected to reach US$ 4,007.3 million by 2028 from US$ 2,625.7 million in 2021. The market is estimated to grow at a CAGR of 6.2% from 2021 to 2028. The report provides trends prevailing in the North America Radiotherapy market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the rising prevalence of cancer across the region and rising number of conferences and symposiums to boost the awareness about radiation therapy are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the increased risk of adverse effects due to radiation therapy.

Radiotherapy therapies, which are an important part of cancer treatment, have persisted despite the pandemic, but with significant improvements to prioritize care and ensure patient and staff protection. Many organizations have published their best practices in the literature. In July 2020, the article "Oncology-inspired treatment options for COVID-19," published in the Journal of Nuclear Medicine, is one of the first to look at the use of radiation therapy to better treat COVID-19 (SARS-CoV-2) patients. Since the CR3022 human antibody binds to the SARS-CoV-2 virus, researchers at Memorial Sloan Kettering Cancer Center in New York radiolabled it with Iodine-131 (I-131) as a targeted agent. The trials yielded positive results, with an average response rate of 80%. Since then, other low-dose radiotherapy trials have begun in the United States and elsewhere. Dawson introduced a panel discussion on "Low-dose radiation therapy and COVID-19-related pneumonia" at the American Society for Radiation Oncology (ASTRO) 2020 Annual Meeting. The first speaker, Mohammad Khan of Emory University's Winship Cancer Institute, presented the findings of the RESCUE 1-19 trial. RESCUE 1-19 was founded on the idea that LD-RT could aid in the elimination of storming cytokines and unchecked oedema in COVID-19 patients who were hospitalized. radiotherapy might be a treatment option for COVID-19. These factors had a potential impact on the North America radiotherapy market.

The market for radiotherapy market is segmented into type, product, application, and end user. Based on type, the radiotherapy market is segmented into external-beam radiation therapy, internal radiation therapy, and systemic radiotherapy/radiopharmaceuticals. In 2020, the external-beam radiation therapy segment accounted for the largest share of the market. Growth of this segment is majorly attributed to the increasing adoption radiotherapy for treatment of several cancers. In addition, increasing awareness about benefits offered by external-beam radiation therapy coupled with increasing number of product launches are also projected to accelerate the segment growth.

Siemens Healthineers AG, Accuray Incorporated, Sumitomo Heavy Industries, Ltd., Elekta AB, Hitachi, Ltd., Koninklijke Philips N.V., Brainlab AG, PROTOM INTERNATIONAL, and Varian Medical Systems, Inc. are among the leading companies in the North America radiotherapy market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in March 2021, Siemens Healthineers has acquired Varian Medical Systems Varian Medical Systems with all-cash deal totaling US$16.4 billion. This merger of two leading companies in radiotherapy market is expected to add more advanced radiotherapy products in the market. Both the company's will expand their portfolio in radiotherapy market and gain major market share at global level.