Europe Radiotherapy Market

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.

Europe Radiotherapy Strategic Insights

Strategic insights for the Europe Radiotherapy provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Radiotherapy Report Scope

Europe Radiotherapy Regional Insights

The geographic scope of the Europe Radiotherapy refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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

• To understand the Europe Radiotherapy market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe Radiotherapy market
• Efficiently plan M&A and partnership deals in Europe Radiotherapy market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe Radiotherapy market
• Obtain market revenue forecast for market by various segments from 2021-2028 in Europe region.

EUROPE RADIOTHERAPY MARKET SEGMENTATION

By Type

• External-Beam Radiation Therapy
• Internal Radiation Therapy
• Systemic Radiotherapy/Radiopharmaceuticals

By Product

• External Beam Radiotherapy Products
• Internal Radiotherapy Products
• Radiotherapy Software
• Others

By Application

• Breast Cancer
• Lung Cancer
• Colorectal Cancer
• Prostate Cancer
• Cervical Cancer
• Liver Cancer
• Thyroid Cancer
• Lymphoma
• Spine Cancer
• Brain Cancer
• Others

By End User

• Hospitals
• Specialty Clinics
• Radiation Therapy Centres

By Country

• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe

Companies Mentioned

1. Siemens Healthineers AG                
2. Accuray Incorporated       
3. Sumitomo Heavy Industries, Ltd.                  
4. Elekta AB                
5. Hitachi, Ltd.           
6. Koninklijke Philips N.V.     
7. Brainlab AG           
8. Varian Medical Systems, Inc.
9. Maastro                  
10. Mevion Medical Systems