North America Radiotherapy Market

The North America radiotherapy market is expected to reach US$ 8.46 billion in 2031 from US$ 3.85 billion in 2023. The market is estimated to grow with a CAGR of 10.3% from 2023 to 2031. <br><br>The North America radiotherapy market forecast presented in this report can help stakeholders in this marketplace plan their growth strategies. The surging prevalence of cancer and preference for rapid diagnostic solutions are the key factors propelling the market development. Key factors driving the market growth include rising cancer prevalence and increasing conferences and symposiums to boost awareness about radiation therapy.<br><br>Market Opportunities of North America Radiotherapy Market<br>Programs for illness diagnosis and preventive healthcare are becoming more widely used in North America. For example, breast cancer screening programs are available in all Canadian provinces for women between the ages of 50 and 74. The Provincial Health Services Authority of British Columbia offers a breast cancer screening program to a broad population base at a low cost. The program's primary goal is to detect breast cancer early. Furthermore, the World Health Organization (WHO) declared in November 2020 the start of a strategic initiative to expedite the eradication of cervical cancer. The organization declared that vaccination, screening, and treatment are the three essential steps to achieving the goal. The Comprehensive Cancer Control National Partnership (CCCNP) also counts the CDC among its 19 member national organizations. Its primary objective is to support all-encompassing cancer control coalitions in states, territories, tribes, and U.S. Pacific Island jurisdictions. These initiatives will probably increase the number of cancer cases diagnosed, fostering a favorable atmosphere for radiotherapy adoption in the area.<br>Implementing strategic directives and policies is the main priority for governments and healthcare institutions. For example, to increase access to radiotherapy globally, the WHO and the International Atomic Energy Agency (IAEA) worked together to release new guidelines in March 2021 centered on purchasing radiotherapy. The selection, use, and upkeep of radiotherapy equipment by healthcare facilities are the main topics of these updated technical guidelines. The organizations released these guidelines to raise awareness and adoption of radiation therapy in low- and middle-income nations. <br>Therefore, it is anticipated that during the forecast period, cancer screening programs and the adoption of standard guidelines will present profitable opportunities for expanding the North American radiotherapy market.<br><br>Factor Hampering North American Radiotherapy Market<br>Radiotherapy is responsible for the breakdown of DNA and the death of cancer cells. Along with cancer cells, the same effect is observed in healthy cells, leading to adverse reactions associated with radiotherapy. A few of the side effects become unnoticeable within a month of the radiation therapy; however, some of the effects might last for more than a month. Fatigue, skin problems, hair loss, low blood counts, headaches, nausea, vomiting, hearing loss, and seizures are among the prominently observed side effects of radiation therapy. According to a study published by NCBI in February 2021, the minimal tolerance dose of radiation therapy causes adverse reactions in approximately 5.0% of patients. However, the maximum tolerance dose causes adverse effects in ~50.0% of therapy receipts within or after five years of radiotherapy. Thus, the increased risk of occurrence of side effects associated with radiation therapy hamper the growth of the market. <br><li> Based on type, the North America radiotherapy market is divided into product and software. The market is further divided on the basis of product into external-beam radiation therapy, internal radiation therapy, and systemic radiotherapy/radiopharmaceuticals. The product segment held the largest market share in 2023. <br><li> By application, the market is segmented into breast cancer, lung cancer, prostate cancer, colorectal cancer, lymphoma, liver cancer, thyroid cancer, brain cancer, cervical cancer, spine cancer, and others. The breast cancer segment held the largest share of the market in 2023.<br><li> In terms of end user, the market is segmented into hospitals, radiation therapy centers, and specialty clinics. The hospitals segment held the largest market share in 2023.<br><br>North America Radiotherapy Market: Regional Overview<br>The substantial prevalence of cancer is expected to boost the demand for radiotherapy treatments in Canada in the coming years. In 2022, according to the Canadian Cancer Society, approximately 28,600 Canadian women were diagnosed with breast cancer, i.e., ~25% of all new cancer cases in women. It is also estimated that about one in eight Canadian women will develop breast cancer during their lifetime. The rising number of cancer cases is boosting the demand for advanced radiotherapy devices in the country. For instance, cancer patients in Nova Scotia will receive access to a novel form of radiation therapy in November 2023, which health authorities claim can revolutionize the quality of cancer care in North America. The Ethos therapy system spares neighboring organs from potential harm by using artificial intelligence imaging to identify tumor spots for radiation treatment. Further, Canadian organizations' support services are likely to contribute to the market growth during the forecasted period. For instance, The Canadian Cancer Society is a national, community-based organization that focuses on eliminating cancer and boosting the quality of life of cancer patients. <br> <br>A few of the major primary and secondary sources referred to while preparing the report on the North radiotherapy market are the World Bank Data, National Health Service (NHS), US Department of Health and Human Services (HHS), and WHO (World Health Organization).