Market Introduction
Radiotherapy is majorly used to control the growth of the tumor and with the minimum exposure to the surrounding normal and healthy tissue. Radiotherapy uses high-energy radiation, generally x-rays, to destroy the cancer cells and treat tumors in the prostate, breast, head & neck, lung and at any other parts in the body where radiation treatment is indicated. Advances in radiotherapy have been made in the last few years, as improvements in imaging modalities, powerful computers and software and delivery systems have enabled technologies.
Thus, the rising prevalence of cancer across the region is expected to create a significant demand for radiotherapy in the coming years, which is further anticipated to drive the radiotherapy market.
During the COVID-19 pandemic, radiotherapy has become the best treatment choice for cancer patients because it doesn't compete for scarce hospital resources, including intensive care unit beds, and can be done with shorter radiation regimens, reducing patient and medical staff exposure. The International Atomic Energy Agency (IAEA) has supported medical professionals working in radiation oncology, nuclear medicine, and radiology practices through guidance documents, webinars, and publications to ensure the continuity of these essential services. These factors had a potential impact on the Europe radiotherapy market.
Market Overview and Dynamics
The Radiotherapy market in Europe is expected to grow from US$ 2,131.2 million in 2021 to US$ 3,122.4 million by 2028; it is estimated to grow at a CAGR of 5.6% from 2021 to 2028. According to the same study, the new therapy is capable of reducing radiation exposure by two-third as compared to traditional radiotherapy. Further, in December 2019, Elekta signed a strategic collaboration with ViewRay, Inc. to enhance functionalities and applications of MR-guided radiation therapy. As a part of the collaboration, Elekta invested in ViewRay Inc. with an amount equivalent to 9.9% of ViewRay’s shares. The companies are also agreed to work upon reduced radiation exposure for better treatment outcomes. Focus on development of such technologies will eventually drive the adoption of radiotherapy in years to come, which will ultimately boost the market growth.
Key Market Segments
In terms of type, the external-beam radiation therapy segment accounted for the largest share of the Europe radiotherapy market in 2020. In terms of product, the external beam radiotherapy products segment accounted for the largest share of the Europe radiotherapy market in 2020. In terms of application, the breast cancer segment accounted for the largest share of the Europe radiotherapy market in 2020. In terms of end user, the hospitals segment held a larger market share of the radiotherapy market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Radiotherapy market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Siemens Healthineers AG, Accuray Incorporated, Sumitomo Heavy Industries, Ltd., Elekta AB, Hitachi, Ltd., Koninklijke Philips N.V., Brainlab AG, Maastro, Mevion Medical Systems, and Varian Medical Systems, Inc.
Reasons to buy report
EUROPE RADIOTHERAPY MARKET SEGMENTATION
By Type
By Product
By Application
By End User
By Country
Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 2,131.2 Million |
| Market Size by 2028 | US$ 3,122.4 Million |
| CAGR (2021 - 2028) | 5.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Radiotherapy Market is valued at US$ 2,131.2 Million in 2021, it is projected to reach US$ 3,122.4 Million by 2028.
As per our report Europe Radiotherapy Market, the market size is valued at US$ 2,131.2 Million in 2021, projecting it to reach US$ 3,122.4 Million by 2028. This translates to a CAGR of approximately 5.6% during the forecast period.
The Europe Radiotherapy Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Radiotherapy Market report:
The Europe Radiotherapy Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Radiotherapy Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Radiotherapy Market value chain can benefit from the information contained in a comprehensive market report.
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