May 20, 2020 — ResearchAndMarkets.com has released its latest report, the "Global Radiation Therapy Market with Focus on LINAC: Insights & Forecast with Potential Impact of COVID-19 (2020-2024)".
The global radiation therapy market is expected to reach $10.11 billion in 2024, witnessing growth at a CAGR of 3.38%, over the period 2020-2024.
Factors such as surging incidence of cancer cases, rising healthcare expenditure, upsurge in economic growth, growing ageing population and expanding urbanization are expected to drive the global radiation therapy market. The growth of the market would be challenged by severe side effects of the therapy and stringent regulations and barriers to implementation. A few notable trends may include increasing public awareness, rising preference towards non-invasive procedures and advancements in technology.
The global radiation therapy market can be categorized into external beam radiation therapy, internal beam radiation therapy and others (systemic radiotherapy) on the basis of type. Further, the external beam radiation therapy market is segmented on the basis of type and devices.
Depending upon the type, the global external beam radiation therapy market can be categorized into following categories: intensity-modulated radiation therapy (IMRT), image-guided radiation therapy (IGRT), tomotherapy, stereotactic radiosurgery, stereotactic body radiation therapy and proton therapy. Whereas, on the basis of devices, the global external beam radiation therapy market can be segmented into three categories, named as, LINAC (Linear Accelerators), proton beam therapy devices and compact advanced therapy devices.
The fastest-growing regional market is North America due to continuous inclination to the usage of novel technologies, rising disposable income and healthcare expenditure in the region and rising awareness about procedures and sophisticated diagnostic techniques. Europe represents the second largest radiation therapy market and is already well-penetrated at developed market levels.
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