Accuray Precision Treatment Planning System For CyberKnife
The global treatment planning systems and advanced image processing market size was valued at USD 1.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.3% from 2022 to 2030, according to new data from Grand View Research. The growing prevalence of cancer and increasing medical imaging procedures are driving the demand, which in turn is anticipated to drive the market growth over the forecast years. The growing demand for innovative and accurate cancer treatment using advanced image processing technology is further supporting to the rising penetration of the market all over the globe. Evolving healthcare IT infrastructure and growing adoption of machine learning (ML) and artificial intelligence (AI) for oncology treatment practices is also fueling market growth.
Growing Prevalence of Cancer
The increasing focus of the market players to invest in the innovation of advanced technology in order to hold a strong position in the global market is also anticipated to accelerate market growth. The rapidly increasing mortalities due to cancer at both regional and global levels is boosting the demand for advanced and innovative treatment practices. For instance, as per 2020 Globocan estimates, about10 million cancer-related mortalities and approximately 19.3 million new cancer cases were diagnosed globally. Breast cancer is the most common type of cancer contributing about 11.7% of all cancer types followed by lung cancer (11.4%), colorectal cancer (10.0%), prostate cancer (7.3%) and stomach cancer (5.6%). In addition, the growing prevalence of cancer coupled with the demand for adequate treatment plans for better clinical outcomes is also anticipated to accelerate the growth of the market for treatment planning systems and advanced image processing.
The growing popularity of radiotherapy for the diagnosis and treatment of cancer is one of the prominent factors for the growth of the market for treatment planning systems and advanced image processing. According to an article published by the American Cancer Society in June 2019, about half (49%) of the early-stage breast cancer patients undergo breast-conserving surgery (BCS) with adjuvant radiation therapy for the treatment due to its increased efficiency. In addition, several government initiatives to develop modern healthcare infrastructure for the oncology diagnosis using advanced medical imaging technology are further anticipated to accelerate market growth over the years.
The Role of AI
The increasing adoption of artificial intelligence and machine learning by the market players to develop oncology software solutions to enhance treatment plans, diagnosis and management of cancer is further supporting to the growth of the market for treatment planning systems and advanced image processing. In addition, the increasing initiatives and projects were undertaken to develop health information learning platforms to support improved quality of care for oncology which is also anticipated to boost market growth.
The treatment planning software segment accounted for the highest revenue share of 88.1% in 2021. This high segment share is attributable to the growing prevalence of cancer and increasing demand for accurate and advanced oncology therapy solutions. The increasing awareness regarding the adoption of treatment planning software solutions due to its efficiency in cancer treatment using radiotherapy is further propelling the growth of the segment. In addition, advancements in healthcare infrastructure, increasing public-private partnerships, and preference to use software solutions over conventional practice are some of the major factors attributable to the high revenue share of the segment.
However, the highest growth rate is the advanced image processing software segment during the forecast period. The increasing demand for radiology procedures for the diagnosis and treatment of cancer and the growing adoption of advanced medical imaging solutions are anticipated to boost the segment growth over the years. The increasing number of imaging modalities and growing modern radiology facilities all over the globe with AI-incorporated advanced image processing software are further anticipated to accelerate the growth of the segment. In addition, the shortage of trained radiology professionals is further boosting the demand for advanced image processing solutions.