The market crossed the US$ 50.0 million mark in 2022 and is expected to hit US$ 70.0 million by 2030, recording a CAGR of 6.5% during the forecast period.
Rising global prevalence of cancer
The intraoperative radiation therapy procedure is related with various advantages such as targeted radiation, high precision and radiation control, limited treatment time, and minimal radiation exposure of normal tissue.This is mostly true for breast cancer, as this mode offers women a choice of lumpectomy (breast-sparing treatment). The increasing prevalence of breast cancer is, therefore, driving the market growth during the forecast period. The growing prevalence of cancer increases the adoption of IORT procedures. Some key statistics in this regard have been mentioned below:
Within the report, the market is segmented into product and services, technology, application, and geography. On the basis of the product and services, the market is segmented into products, systems/accelerators, applicators and after loaders, treatment planning systems, accessories, and services. On the basis of the technology, the market is segmented into Electron IORT, and Intraoperative Brachytherapy. Further, by application, the market is segmented into breast cancer, brain tumor, gastrointestinal cancer, head and neck cancer, colorectal cancer, endometrial and cervical cancer, lung cancer, and others. Geographically, the market is segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
COVID-19 impact on intraoperative radiation therapy market
The growth in the rate of the lethality of COVID-19 has brought up a global concern for the safety of the global population enforcing the lockout situation. The surge in the demand for the recovery of the patients who are exposed to the virus would need respiratory equipment for better treatment. There is a surge in the usage of these devices globally and hence the manufacturers are taking advantage and hence gaining maximum shares. However, the surgical procedures are now brought to a halt which will lead to the downfall of the other medical devices and supplies. This has also led to a decrease in the growth of Intraoperative Radiation Therapy in the current situation. Furthermore, the use of equipment that can be used to prevent exposure to COVID-19 is anticipated to increase in the near future. The rise in government interference towards the safety of the global population would help the use of personal protective equipment in the commenced period.
The products segment showcases the high growth of the intraoperative radiation therapy market.
Based on products and services, products can be attributed to accounting highest market share during the analysis period owing to their growing availability, development of technologically advanced mobile systems/accelerators, treatment planning, and growing applications of IORT products in cancer treatment.
Recent strategic developments in the intraoperative radiation therapy market
The intraoperative radiation therapy market has undergone several significant developments, and a few of these have been mentioned below:
The intraoperative radiation therapy market is driven by several players by implementing strategic activities such as Roche Diagnostics Ltd, Abbott Laboratories, Siemens Healthineers AG, Danaher Corporation, Ortho Clinical Diagnostics, Randox Laboratories Ltd., bioMérieux SA, LSI Medience Corporation, DiaSorin S.p.A., and Bio-Rad Laboratories, Inc. are among the prominent players operating in the market.
Target audience for the report:
Scope of the report:
In this report, the market has been segmented on the basis of:
The List of Companies
- ZEISS Group
- iCAD, Inc.
- Eckert & Ziegler
- Elekta
- GMV Innovating Solutions
- Sensus Healthcare, Inc.
- IntraOp Medical, In
- Isoray, Inc
- Becton, Dickinson and Company
- Sordina IORT Technologies