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2024: Global Radiotherapy Systems Market Size Grows to $7.44 Billion for the Year
In 2024, costs in the global market for radiotherapy systems reached $7.44 billion. For comparison, a year earlier, the volume of this industry was estimated at $7.04 billion. Thus, an increase of 5.7% was recorded. Relevant data are provided in a study by Towards Healthcare, the results of which TAdviser reviewed at the end of July 2025.
One of the main drivers of the analytics market is the increase in the prevalence of malignancies. According to statistics from the World Health Organization (WHO), in 2022, approximately 20 million new cases of cancer and 9.7 million deaths caused by it were registered. Life-long malignancies occur in about one in five people in the world. At the same time, every ninth man and every twelfth woman die from such diseases. According to estimates, by 2050 the number of new cases of cancer will exceed 35 million, showing an increase of 77% compared to 2022. This trend reflects both the aging and growth of the global population and changes in the degree of exposure of people to risk factors associated with socio-economic development. Radiation therapy (radiotherapy) is an effective method of controlling cancer in which cancer cells are destroyed by exposure to ionizing radiation such as X-rays, gamma rays, high-energy electrons, or heavy particles. Due to the increase in the prevalence of cancer, there is a growing demand for appropriate radiation procedures.
Technological advances have a significant impact on the industry. We are talking about the introduction of advanced imaging tools and integration of artificial intelligence, as well as the development of adaptive radiation therapy. Neural networks can process the results of X-ray and tomographic examinations, identifying abnormalities that may indicate the presence of a tumor. AI is able to recognize even the most subtle changes in tissues, which increases the effectiveness of diagnosis and minimizes errors associated with the human factor. AI algorithms are also used to form an individual treatment plan, taking into account the features and condition of a particular patient. In addition, AI is used to assess the body's response to therapy. Against the background of the rapid introduction of AI, there is a shift towards personalized oncology.
In terms of radiotherapy, the authors of the study segment the market into therapy for breast, prostate, cervical, head and neck cancers, etc. In 2024, the largest share of costs fell on the first of the listed areas. According to WHO estimates, in 2022, breast cancer was diagnosed in 2.3 million women and caused 670 thousand deaths worldwide. About one in four detected malignancies in women in the world is breast cancer. Geographically, North America is leading, but the Asia-Pacific region has the highest growth rate. Globally, significant players are named:
- Accuray Incorporated;
- Brainlab AG;
- Curium;
- Canon Medical Systems;
- Elekta AB;
- Hitachi High-Tech;
- IBA Radiopharma Solution;
- Isoray;
- Mevion Medical Systems;
- Mitsubishi Electric;
- Nordion;
- NTP Radioisotopes SOC;
- RefleXion;
- Toshiba Energy Systems & Solutions;
- Varian Medical Systems.
Towards Healthcare analysts predict a further CAGR of 5.73% in the radiotherapy systems market. Thus, by 2034, spending may increase to about $12.93 billion.[1]
2018: Market size - $5.6 billion
In early February 2019, the analytical company MarketsandMarkets published the results of a study of the global market for radiotherapy systems. Sales of such solutions in 2018 reached $5.6 billion, by 2023 the figure will reach $6.8 billion, and the average annual growth rate of the market will be measured at 4.1%.
The demand for radiotherapy equipment is increasing due to several factors, such as the growing prevalence of cancer in the world, technological advances, emerging markets, growing public and private investment in cancer treatment projects and improving the situation with the payment of compensation to patients.
On the other hand, lack of adequate healthcare infrastructure, shortage of highly skilled staff, limited availability of treatment, as well as the complex nature of radiotherapy are expected to limit market growth. Difficulties with imaging tumors during radiation therapy procedures and the possible negative effects of radiation exposure can also create problems also hinder the sales of radiotherapy technology.
Experts call the following companies the largest manufacturers of such equipment:
- Varian Medical Systems (USA);
- Elekta (Sweden);
- Accurate (USA).
The study also names the following manufacturers:
- Ion Beam Applications (Belgium);
- ViewRay (USA);
- IsoRay Medical (USA); Hitachi (Japan);
- Panacea Medical Technologies (India);
- Provision Healthcare (США);
- Mevion Medical Systems (США);
- Sumitomo Heavy Industries (Japan);
- Optivus Proton Therapy (США);
- P-cure (Israel);
- Theragenics Corporation (США);
- C.R. Bard (USA).
MarketsandMarkets says that market participants are developing various strategies for business growth, including releasing new products and improving existing ones. In addition, strategic acquisitions are being made to strengthen its product portfolio and maintain a competitive position in the radiotherapy market.[2]
Notes
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