Navigating the Intensity-Modulated Radiotherapy Market: Industry Growth, Strategic Planning, Driving Factors, and Projections Through 2028
The global intensity modulated radiotherapy market in terms of revenue was estimated to be worth $2.2 billion in 2023 and is poised to reach $2.8 billion by 2028, growing at a CAGR of 5.2% from 2023 to 2028.
Northbrook, IL 60062 -- (SBWire) -- 11/20/2023 --Intensity-modulated Radiotherapy Market in terms of revenue was estimated to be worth $2.2 billion in 2023 and is poised to reach $2.8 billion by 2028, growing at a CAGR of 5.2% from 2023 to 2028 according to a new report by MarketsandMarkets™. The expansion of the Intensity-modulated radiotherapy market is propelled by several synergistic factors, including robust healthcare infrastructure, escalating cancer prevalence, conducive reimbursement policies, technological innovations, active research initiatives, well-defined regulatory frameworks, growing minimally invasive procedure adoption, and the presence of key market players in developing regions. This amalgamation of drivers has engendered substantial market growth. Continued technological advancements, heightened emphasis on non-invasive cancer interventions, and a supportive healthcare ecosystem are anticipated to sustain this upward trajectory. Nevertheless, market expansion faces constraints posed by competitive alternatives, including automated radiation therapy systems, intensity modulation radiation therapy (IMRT), and other radiotherapeutic approaches.
The intensity-modulated radiotherapy (IMRT) industry is poised for significant growth in the near future, driven by advances in technology, increasing cancer prevalence, and the demand for more precise and targeted cancer treatments. With continuous innovation in radiation therapy equipment and software, IMRT techniques are becoming increasingly accessible and effective in delivering highly focused radiation doses to tumors while sparing healthy tissues. This promising trajectory is expected to result in improved patient outcomes, reduced side effects, and a broader adoption of IMRT across healthcare facilities worldwide. As the industry evolves, collaborations between medical professionals, researchers, and technology companies will play a crucial role in shaping the future of cancer treatment, ultimately offering hope for better quality of life for cancer patients.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=201922049
Browse in-depth TOC on "Intensity-modulated Radiotherapy Market"
145 - Tables
45 - Figures
257 – Pages
The breast cancer application segment accounted for a significant share of the Intensity-modulated radiotherapy market in 2022-2027
Based on the application, the intensity-modulated radiotherapy market is segmented into breast cancer, prostate cancer, head & neck cancer, lung cancer, gastrointestinal cancer, brain cancer, and other applications. The rising incidence of cancer worldwide is a significant driver for the intensity-modulated radiotherapy market. This is attributed to an enhanced level of patient comfort, particularly pertinent for individuals undergoing breast cancer treatment. This augmentation distinctly contributes to the advancement and attractiveness of the intensity-modulated radiotherapy market.
IMRT enables precise tumor localization, enabling dynamic adjustments during treatment to ensure accurate radiation delivery to the tumor site. This adeptness minimizes the risk of impacting neighboring healthy tissues unfavorably. As a result, this capability significantly contributes to the amplification of the market prominence of image-guided radiation therapy, fortifying its appeal and value proposition.
Hospitals segment to register for the largest market share of the Intensity-modulated radiotherapy market 2022-2028
The major end users in the Intensity-modulated radiotherapy market are independent radiotherapy centers and hospitals. Hospitals is expected to account for a major market share in 2022. The precision inherent in IMRT tumor-targeting proficiency and its streamlined treatment delivery harmonize seamlessly with the necessity of proficiently managing the patient caseload. This symbiotic convergence not only optimizes patient-centric care but also elevates the market appeal of intensity-modulated radiation therapy, establishing it as a pivotal therapeutic modality for healthcare establishments addressing the complexities of cancer treatment management.
Overall, Within the sphere of intensity-modulated radiation therapy (IMRT), the hospital's end user segment strategically capitalizes on its comprehensive healthcare provisions, state-of-the-art infrastructure, synergistic collaborative milieu, and unwavering commitment to patient-centered care to propel adoption. The cumulative impact of these facts distinctly fosters the expansion and heightened prominence of IMRT's presence within the hospital ecosystem, consequently amplifying its market position and traction.
North America to account for a significant market share in the Intensity-modulated radiotherapy market in 2022
In 2022, the North America region is expected to register significant growth in the market during the forecast period. North America comprises US and Canada. North America has an advanced healthcare infrastructure, which is associated with a higher incidence of cancer. In North America, a highly developed healthcare infrastructure coupled with ready access to state-of-the-art medical technologies creates a conducive environment for the assimilation of progressive treatment modalities, such as intensity-modulated radiotherapy market (IMRT). The region's notably comprehensive healthcare reimbursement frameworks further reinforce the adoption of sophisticated treatments, including IMRT, ensuring its accessibility to a broader spectrum of patients. This confluence of factors substantiates the impetus for the expansion and fortification of the image-guided radiation therapy market.
These factors collectively contribute to North America's good market share in the image-guided radiation therapy market, making it a prominent region for the adoption, manufacturing, and research of image-guided radiation therapy.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=201922049
Intensity-modulated Radiotherapy Market Dynamics:
1. Increase in non-invasive cancer treatments through radiation therapy
2. Increasing government initiatives for cancer management
3. Rising cancer patient population
1. The dearth of skilled radiologist/oncologist
2. Affordability and accessibility of treatment
3. Complexity of imaging technology for treatments
1. Rising healthcare expenditure across developing countries
2. Expansion of key players in emerging countries
1. Availability of alternative technology
Key Market Players:
As of 2022, prominent players in the Intensity-modulated radiotherapy market are Siemens Healthineers AG (Germany), Elekta (Sweden), and Accuray Incorporated (US), among others.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=201922049
Intensity-modulated Radiotherapy Market Advantages:
- Precision and Targeting: IMRT allows for the precise delivery of high-dose radiation to cancerous cells while minimizing exposure to adjacent healthy tissues and organs. This level of targeting helps reduce the risk of collateral damage and side effects.
- Improved Treatment Efficacy: By shaping the radiation beams according to the specific contours of the tumor, IMRT increases the effectiveness of radiation therapy. This can result in better tumor control rates and increased chances of successful treatment outcomes.
- Reduced Side Effects: Due to its ability to spare healthy tissues, IMRT often leads to fewer acute and long-term side effects compared to traditional radiotherapy methods. This can enhance the patient's quality of life during and after treatment.
- Treatment of Complex Cases: IMRT is particularly valuable for treating tumors in complex anatomical locations, such as those near critical structures or irregularly shaped tumors. It enables clinicians to tackle challenging cases that might not be manageable with conventional techniques.
- Personalized Treatment Plans: IMRT allows for highly customized treatment plans tailored to each patient's unique condition. This personalization ensures that the radiation therapy is optimized for the individual, optimizing treatment outcomes.
- Reduced Treatment Duration: In some cases, IMRT can shorten the overall treatment duration by delivering higher doses per session while maintaining safety. This can improve patient convenience and adherence to treatment schedules.
- Increased Patient Comfort: The reduced side effects and improved targeting associated with IMRT can enhance the overall comfort and well-being of patients undergoing radiation therapy, making it a more tolerable experience.
- Lower Risk of Secondary Cancers: IMRT's ability to spare healthy tissue helps reduce the risk of developing secondary cancers, which can sometimes occur as a result of radiation exposure.
- Adaptability During Treatment: IMRT systems often include tools for adapting the treatment plan during the course of therapy, allowing for adjustments based on changes in tumor size or patient anatomy, further improving treatment precision.
- Research and Development Opportunities: The continuous development of IMRT technologies fosters ongoing research, innovation, and improvements in cancer treatment, potentially leading to even more advanced and effective therapies in the future.
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Media Relations Contact
View this press release online at: http://rwire.com/1380225