According to a report by P&S Intelligence, the global radiotherapy market is projected to attain a revenue of $17,194.4 million by 2030, advancing at an 8.4% CAGR during 2020–2030. A major factor leading to the growth of the market is the increasing healthcare expenditure around the world. A number of developing and developed countries are significantly investing in the industry for upgrading their healthcare systems.
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As per the World Bank Group, the worldwide healthcare expenditure rose to 9.9% of the global gross domestic product in 2017 from 8.6% in 2000. This rise in the healthcare expenditure is predicted to lead to upgraded infrastructure, such as installation of innovative medical systems in different healthcare settings. The disruption of the supply chain, however, due to the current pandemic situation has slowed down the growth of the market across the globe. Lockdown in various parts of the world has resulted in the shutdown of a number of manufacturing facilities.
The objective of this research includes;
Geographically, North America dominated the radiotherapy market in the past, owing to the presence of major players, surging expenditure in the healthcare sector, rapid improvements in the healthcare infrastructure, regular strategic developments, and rapid increasing number of cancer cases in Canada and the U.S. The growing number of patients in the region are opening up various opportunities for the companies in the domain.
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Some of the key players in the global radiotherapy market are Accuray Incorporated, Elekta AB, Hitachi Ltd., Dickinson and Company, Becton, Ion Beam Applications SA, Provision Healthcare, Isoray Inc., Varian Medical Systems Inc., Sumitomo Heavy Industries Ltd., Mevion Medical Systems Inc., ViewRay Inc., Panacea Medical Technologies Pvt. Ltd., Optivus Proton Therapy Inc., and P-Cure Ltd.
The research includes detailed analysis of;
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