Radiation Therapy Equipment Market by Product and Geography - Forecast and Analysis 2022-2026

Published: Feb 2022 Pages: 120 SKU: IRTNTR72497

The radiation therapy equipment market share is expected to increase by USD 4.66 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.19%.

This radiation therapy equipment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers radiation therapy equipment market segmentation by product (external and internal) and geography (North America, Europe, Asia, and Rest of World (ROW)). The radiation therapy equipment market report also offers information on several market vendors, including Accuray Inc., Bionix LLC, Canon Inc., Carl Zeiss AG, Eckert and Ziegler AG, Elekta AB, Hitachi Ltd., Hologic Inc., iCAD Inc., IntraOp Medical Corp., Ion Beam Applications SA, IsoRay Inc., Mevion Medical Systems Inc., Optivus Proton Therapy Inc., P CURE Ltd., Panacea Medical Technologies Pvt. Ltd., Provision Healthcare, Siemens Healthineers AG, Sotera Health Co., and Sumitomo Heavy Industries Ltd. among others.

What will the Radiation Therapy Equipment Market Size be During the Forecast Period?

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Radiation Therapy Equipment Market: Key Drivers, Trends, and Challenges

The rising occurrence of colorectal cancer is notably driving the radiation therapy equipment market growth, although factors such as the high cost of radiation therapy equipment may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the radiation therapy equipment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Radiation Therapy Equipment Market Driver

The rising occurrence of colorectal cancer is one of the key drivers supporting the radiation therapy equipment market growth. A steady rise in the incidence of cancer is primarily led by factors such as the growing obese population, unhealthy diet, and others. The rising number of cases of colorectal cancer further increased awareness about the required proper treatment in the world. As per Eurostat, colorectal cancer is the most common form of cancer in Europe. Every year more than 450,000 people in Europe are diagnosed with it, and approximately 230,000 will die of their disease. Moreover, the survivors of cancer require radiotherapy for treatment. Hence, with the increasing number of cancer patients globally, the demand for radiation therapy equipment is increasing. Therefore, the rising number of colorectal cancer cases will contribute to the growth of the market.

Key Radiation Therapy Equipment Market Trend

Advances in technology is another factor supporting the radiation therapy equipment market growth. Technology plays an important role in the development of medical devices. It aids in enhancing the precision rate of devices, which results in providing a higher success rate and increases the usability of the devices. Vendors are developing innovative and superior technologies and equipment to overcome the shortcomings of the old systems. They are introducing new radiation therapy equipment as well as launching upgraded products that aid in providing better operability and results. These developments have resulted in superior features and operability of radiation therapy equipment. Superior features in the equipment enhance the precision rate of treatment for cancer, thereby accelerating the demand for such equipment.

Key Radiation Therapy Equipment Market Challenge

The high cost of radiation therapy equipment is one of the factors hindering the radiation therapy equipment market growth. The global radiation therapy equipment market is growing at a steady pace. However, the growth of the market is hindered by the high cost associated with radiation therapy equipment, especially in price-sensitive markets such as developing and underdeveloped economies. The cost of radiation therapy equipment depends on technological advances. The average cost of a linear accelerator can range between $300,000 to $1,300,000. The high cost of radiation therapy can increase the cost burden for patients. Further, the cost of radiation therapy depends on the type of cancer. Thus, the high cost of radiation therapy equipment and the procedure cost can lead end-users to opt for substitutes, thereby hindering the market growth.

This radiation therapy equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the radiation therapy equipment market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the radiation therapy equipment market during the forecast period.

Who are the Major Radiation Therapy Equipment Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Accuray Inc.
  • Bionix LLC
  • Canon Inc.
  • Carl Zeiss AG
  • Eckert and Ziegler AG
  • Elekta AB
  • Hitachi Ltd.
  • Hologic Inc.
  • iCAD Inc.
  • IntraOp Medical Corp.
  • Ion Beam Applications SA
  • IsoRay Inc.
  • Mevion Medical Systems Inc.
  • Optivus Proton Therapy Inc.
  • P CURE Ltd.
  • Panacea Medical Technologies Pvt. Ltd.
  • Provision Healthcare
  • Siemens Healthineers AG
  • Sotera Health Co.
  • Sumitomo Heavy Industries Ltd.

 

This statistical study of the radiation therapy equipment market encompasses successful business strategies deployed by the key vendors. The radiation therapy equipment market is fragmented and the vendors are deploying growth strategies such as product launches to compete in the market.

Product Insights and News

  • Accuray.com - The company offers radiation therapy equipment named CyberKnife system.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The radiation therapy equipment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Radiation Therapy Equipment Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the radiation therapy equipment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Radiation Therapy Equipment Market?

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38% of the market's growth will originate from North America during the forecast period. The US is the key market for radiation therapy equipment market in North America. Market growth in this region will be faster than the growth of the market in ROW.

The presence of global vendors in the US will facilitate the radiation therapy equipment market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In early 2020, the outbreak of COVID-19 in the region led to a halt in the operations of units that manufacture radiation therapy equipment. However, the market is expected to grow after the pandemic is brought under control. The outbreak of COVID-19 has prompted vendors to come up with new business strategies, such as online promotional activities and training for doctors, to raise the demand for radiation therapy equipment. This will help the regional market growth during the forecast period.

What are the Revenue-generating Product Segments in the Radiation Therapy Equipment Market?

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The radiation therapy equipment market share growth by the external segment will be significant during the forecast period. External radiation therapy equipment uses external beam radiations for treatment. Radiation beams used for treatment may consist of either photons, protons, or electrons. Most radiation therapy equipment uses photon beams. Photon beams can reach tumors present deep inside the body. Moreover, the segment by external radiation therapy equipment is driven by increasing product launches. Such developments would lead to the growth of the market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the radiation therapy equipment market size and actionable market insights on post COVID-19 impact on each segment.

 

Radiation Therapy Equipment Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 9.19%

Market growth 2022-2026

$ 4.66 billion

Market structure

Fragmented

YoY growth (%)

7.31

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 38%

Key consumer countries

US, Canada, Germany, UK, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Accuray Inc., Bionix LLC, Canon Inc., Carl Zeiss AG, Eckert and Ziegler AG, Elekta AB, Hitachi Ltd., Hologic Inc., iCAD Inc., IntraOp Medical Corp., Ion Beam Applications SA, IsoRay Inc., Mevion Medical Systems Inc., Optivus Proton Therapy Inc., P CURE Ltd., Panacea Medical Technologies Pvt. Ltd., Provision Healthcare, Siemens Healthineers AG, Sotera Health Co., and Sumitomo Heavy Industries Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Radiation Therapy Equipment Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive radiation therapy equipment market growth during the next five years
  • Precise estimation of the radiation therapy equipment market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the radiation therapy equipment industry across North America, Europe, Asia, and Rest of World (ROW)
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of radiation therapy equipment market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Product

  • 5.1 Market segments
    • Exhibit 24: Chart on Product - Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
  • 5.2 Comparison by Product
    • Exhibit 26: Chart on Comparison by Product
    • Exhibit 27: Data Table on Comparison by Product
  • 5.3 External - Market size and forecast 2021-2026
    • Exhibit 28: Chart on External - Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on External - Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on External - Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on External - Year-over-year growth 2021-2026 (%)
  • 5.4 Internal - Market size and forecast 2021-2026
    • Exhibit 32: Chart on Internal - Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on Internal - Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on Internal - Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Internal - Year-over-year growth 2021-2026 (%)
  • 5.5 Market opportunity by Product
    • Exhibit 36: Market opportunity by Product ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 40: Chart on Geographic comparison
    • Exhibit 41: Data Table on Geographic comparison
  • 7.3 North America - Market size and forecast 2021-2026
    • Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
    • Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
  • 7.4 Europe - Market size and forecast 2021-2026
    • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
  • 7.5 Asia - Market size and forecast 2021-2026
    • Exhibit 50: Chart on Asia - Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on Asia - Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on Asia - Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on Asia - Year-over-year growth 2021-2026 (%)
  • 7.6 Rest of World (ROW) - Market size and forecast 2021-2026
    • Exhibit 54: Chart on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
  • 7.7 US - Market size and forecast 2021-2026
    • Exhibit 58: Chart on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on US - Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on US - Year-over-year growth 2021-2026 (%)
  • 7.8 Canada - Market size and forecast 2021-2026
    • Exhibit 62: Chart on Canada - Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on Canada - Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on Canada - Year-over-year growth 2021-2026 (%)
  • 7.9 Germany - Market size and forecast 2021-2026
    • Exhibit 66: Chart on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on Germany - Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on Germany - Year-over-year growth 2021-2026 (%)
  • 7.10 Japan - Market size and forecast 2021-2026
    • Exhibit 70: Chart on Japan - Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on Japan - Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on Japan - Year-over-year growth 2021-2026 (%)
  • 7.11 UK - Market size and forecast 2021-2026
    • Exhibit 74: Chart on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on UK - Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on UK - Year-over-year growth 2021-2026 (%)
  • 7.12 Market opportunity by geography
    • Exhibit 78: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 79: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 80: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 81: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 82: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 83: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 84: Matrix on vendor position and classification
  • 10.3 Accuray Inc.
    • Exhibit 85: Accuray Inc. - Overview
    • Exhibit 86: Accuray Inc. - Business segments
    • Exhibit 87: Accuray Inc. - Key offerings
    • Exhibit 88: Accuray Inc. - Segment focus
  • 10.4 Bionix LLC
    • Exhibit 89: Bionix LLC - Overview
    • Exhibit 90: Bionix LLC - Product / Service
    • Exhibit 91: Bionix LLC - Key news
    • Exhibit 92: Bionix LLC - Key offerings
  • 10.5 Carl Zeiss AG
    • Exhibit 93: Carl Zeiss AG - Overview
    • Exhibit 94: Carl Zeiss AG - Business segments
    • Exhibit 95: Carl Zeiss AG - Key offerings
    • Exhibit 96: Carl Zeiss AG - Segment focus
  • 10.6 Eckert and Ziegler AG
    • Exhibit 97: Eckert and Ziegler AG - Overview
    • Exhibit 98: Eckert and Ziegler AG - Business segments
    • Exhibit 99: Eckert and Ziegler AG - Key news
    • Exhibit 100: Eckert and Ziegler AG - Key offerings
    • Exhibit 101: Eckert and Ziegler AG - Segment focus
  • 10.7 Elekta AB
    • Exhibit 102: Elekta AB - Overview
    • Exhibit 103: Elekta AB - Business segments
    • Exhibit 104: Elekta AB - Key news
    • Exhibit 105: Elekta AB - Key offerings
    • Exhibit 106: Elekta AB - Segment focus
  • 10.8 Hologic Inc.
    • Exhibit 107: Hologic Inc. - Overview
    • Exhibit 108: Hologic Inc. - Business segments
    • Exhibit 109: Hologic Inc. - Key news
    • Exhibit 110: Hologic Inc. - Key offerings
    • Exhibit 111: Hologic Inc. - Segment focus
  • 10.9 Ion Beam Applications SA
    • Exhibit 112: Ion Beam Applications SA - Overview
    • Exhibit 113: Ion Beam Applications SA - Business segments
    • Exhibit 114: Ion Beam Applications SA - Key offerings
    • Exhibit 115: Ion Beam Applications SA - Segment focus
  • 10.10 IsoRay Inc.
    • Exhibit 116: IsoRay Inc. - Overview
    • Exhibit 117: IsoRay Inc. - Product / Service
    • Exhibit 118: IsoRay Inc. - Key offerings
  • 10.11 Mevion Medical Systems Inc.
    • Exhibit 119: Mevion Medical Systems Inc. - Overview
    • Exhibit 120: Mevion Medical Systems Inc. - Product / Service
    • Exhibit 121: Mevion Medical Systems Inc. - Key offerings
  • 10.12 Siemens Healthineers AG
    • Exhibit 122: Siemens Healthineers AG - Overview
    • Exhibit 123: Siemens Healthineers AG - Business segments
    • Exhibit 124: Siemens Healthineers AG - Key news
    • Exhibit 125: Siemens Healthineers AG - Key offerings
    • Exhibit 126: Siemens Healthineers AG - Segment focus

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 127: Inclusions checklist
    • Exhibit 128: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 129: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 130: Research methodology
    • Exhibit 131: Validation techniques employed for market sizing
    • Exhibit 132: Information sources
  • 11.5 List of abbreviations
    • Exhibit 133: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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