February 26, 2015 — MarketReportsOnline.com adds "Global Radiation Therapy Market Report: 2015 Edition" report that says worldwide radiation therapy market has shown significant growth over the past few years, with North America as the highly competitive and largest market for radiotherapy devices.
Europe is the second largest consumer of radiotherapy devices market. Although demand for radiotherapy devices slowed down in Europe in 2012, the region picked up in 2013. On the other hand, Asia Pacific's radiotherapy market has enjoyed a tremendous growth rate during last few years. As per the report "Global Radiation Therapy Market: 2015 Edition", the proton therapy market posed a very strong growth and will continue for the foreseeable future. It also indicates that the demand for proton beam therapy will be high in the future thereby resulting in increasing expenditure on radiotherapy treatment. Moreover, the increasing number of cancer patients, rapid change in cancer treatment technology and emerging healthy reimbursement plans will continue to enhance the demand for radiotherapy equipments and products.
Radiotherapy is a treatment procedure that involves the use of high-energy radiation. Nowadays, new treatment techniques such as image guided radiation therapy (IGRT), proton therapy; brachytherapy and stereotactic radiation therapy are being increasingly adopted. Moreover, due to the less risk in proton therapy treatment, it has become the most preferred option for treating cancer. Further, it is projected that the IGRT market will grow at a stronger pace than the overall radiation therapy market as it reduces the long-term treatment side effects.
The United States is the largest market of radiotherapy devices globally. The U.S. market growth is mainly driven by the increasing incidence of cancers, replacements of older radiotherapy systems and reimbursement levels for radiation therapy.
Demand for radiotherapy devices in the Asia Pacific region has shown significant growth, mainly driven by China. The key factors driving the growth of the radiation therapy market include higher incidence of cancer, rising healthcare expenditures, rise in aging population and steady rise in global gross domestic product (GDP). The major issues faced by the market include stringent regulations and expensive treatments.
The increasing competition in the radiotherapy market has been analyzed on number of factors: proton therapy market, installed base and new orders. The report presents some of the major drivers, trends and challenges being faced by the market. It also discusses the company profiles of the top four players in the radiation therapy market: Varian, Siemens, Elekta and Accuray.
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