Image Guided Radiotherapy Market Trends, Share And Growth Analysis By Types (Soft-Tissue Imaging, Lung Mri, Simplifying Cardiac Mri, Simplifying Mri-Conditional Implant Scans, Silent Mri Scanning), By Technology (Radiation-Based, Non-Radiation Based Systems), By Devices (X-Ray Computed Tomography (Ct), Magnetic Resonance Imaging (Mri), And Positron Emission Tomography), End Users (Hospitals, Smart Cancer Centers, Research Institutes) - Global Forecast Till 2023
Market Research Future (MRFR) in its recently published study report asserts that the global image guided radiotherapy market trends and size will register a CAGR of 15.8% during 2017 – 2023, accruing pervasively by 2023. Image Guided Radiotherapy or IGRT is a type of conformal radiotherapy involving the use of different scans and X-rays to treat a specific area of cancer growth. Image-guided radiation therapy integrated with a technique called intensity-modulated radiotherapy (IMRT), enables to shape the radiation beam to the outline of tumors in real time, even as they move in the body. This treatment targets tumors with pinpoint accuracy, and minimize the side-effects caused by damage to healthy tissue.
At the same time, the treatment allows scientists in the Centre for Cancer Imaging (ICR’s) to push boundaries with the very latest in single and combined imaging technologies to visualize tumors precisely and study their behavior, physiology, and growth. All these commutatively add up to deliver effective outcomes in the treatment of various types of cancer such as skin cancer, lung cancer, lung cancer, and others.
Therefore, the image-guided radiotherapy is considered as a proven, effective cancer treatment which is allowing its market to accrue vastly. Certainly, technological advancements transpired in the medical science and biotechnology is a major driving force that escalates the market on the global platform, improving the outlook for cancer treatments and sufficiently controlling the spread of the diseases.
Cancer cases are increasing rapidly, worldwide, and the changing lifestyle is the main culprit. Improving economic conditions are playing the main role in increasing the purchasing power of people, increasing access to the modern lifestyle. Addictions such as tobacco and alcoholism are again some of the dominant risk factor helping the cancerous cells and tumors to develop.
Additionally, factors such as increasing population, heredity reasons and genetic mutations (abnormal changes), exposures to harmful radiation along with the increasing per capita health care expenditures are substantiating the market growth. Besides, increasing governmental initiatives are supporting the market growth, spreading the awareness among people.
Conversely, the high cost of the treatment & devices, along with the side effects of the therapy and long approval time for the clinical trials are obstructing the market growth, slowing the market growth over the forecasted period. However, unavailability of comprehensive treatments especially in the developing regions is expected to provide the ample scope to the market to evolve further, prompting substantial investments for R&D to bring more novelty and betterments in the image-guided radiotherapy.
Global Image Guided Radiotherapy Market – Segments
By Types: Soft-Tissue Imaging, Lung MRI, Simplifying Cardiac MRI, Simplifying MRI-Conditional Implant Scans, and Silent MRI Scanning.
By Technologies: Radiation-Based (electronic portal imaging devices (EPID), cone beam CT, Fan beam, and others.), and Non-Radiation Based Systems (ultrasound-based systems, camera-based or optical tracking systems, MRI-guided IGRT, and others.), among others.
By Devices: X-ray computed tomography (digital X-ray, computed tomography (CT), conventional CT, optical tracking, cone beam, MVCT, and others.), magnetic resonance imaging (MRI), positron emission tomography, and others.
By End-users: Hospitals, Smart Cancer Centers, and Research Institutes among others.
By Regions: APAC, North America, Europe, and the Rest-of-the-World.
Global Image Guided Radiotherapy Market – Geographical Analysis
The North American region dominates the global image guided radiotherapy market. The market growth is majorly supported by the radiotherapy market in the US which is growing due to the large patient pool and substantial healthcare expenditures.
Furthermore, the increasing prevalence of types of cancer and thyroid fuelled by the consequences of the wrong lifestyle fosters the market growth in the region. Moreover, factors such as technological advancement and well-spread awareness among people towards the benefits of this therapy support the market growth.
The image guided radiotherapy market in the European region rapidly emerging as another lucrative market owing to the increasing number of cancer patients in the region. Furthermore, the proliferation of advanced treatment facilities alongside the availability of skilled medical professionals, and the government support for research & development drives the market in the region.
The Asia Pacific region accounts for another promising market for the image-guided radiotherapy. Factors substantiating the market growth include the increasing prevalence of cancer, spreading awareness among people about cancer, and the availability of new treatment methods. Proliferating markets in China and India majorly contribute to the market growth in the region.
The Image Guided Radiotherapy market in the Middle East and Africa region is expected to witness a slow growth due to the lack of awareness of the chronic diseases and the limited treatment facilities in these regions.
Global Image Guided Radiotherapy Market – Competitive Landscape
The market is fiercely competitive due to the presence of numerous large & small players, having the international presence. The global market for image guided radiotherapy appears intensely competitive with the several large and small players forming a competitive edge in the market incorporating strategic partnership, collaboration, acquisition, expansion, and technology launch. Significant investments are transpired in the field to bring innovations in the therapy and clinical trials.
Some of the imminent players in the image guided radiotherapy market are General Electric Company (US), ViewRay (US), Hitachi, Ltd. (Japan), Koninklijke Philips N.V. (Netherland), Siemens AG (Germany), Varian Medical Systems, Inc. (US), Toshiba Corporation (Japan), Vision RT Ltd. (UK), XinRay Systems (US), C-RAD (Sweden), and Scranton Gillette Communications (US).
Industry/ Innovation/Related News:
ViewRay, Inc. (US), a medical technology company announced the unveiling of its new, MRIdian MR-Image guided radiation therapy in the Acibadem Maslak Hospital in Istanbul, Turkey for the Next Generation Cancer Care.
ViewRay's MRIdian® Linac is the world's first system to combine MRI guidance and linear accelerator radiation delivery. These treatments mark the first in Turkey.
MRIdian MRI-guided radiotherapy represents the latest advancement in the field of radiation oncology that allows clinical improvements in visualization and precision daily plan adaptation, providing the tools to deliver higher and potentially more effective radiation doses.
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