The global Radiation Therapy Equipment market is projected to reach US$9.2 billion by 2024, driven by the epidemic spread of cancer across the world, growing preference for non-surgical cancer treatment options, and increased R&D focus on the development of sophisticated, cost effective and efficient cancer treatment equipment.
Cancer has emerged as one of the most critical health issues confronting the world. As per the World Health Organization (WHO), cancer is among the leading causes of mortality as well as morbidity across the world. More than 18.5 million new cases of cancer are diagnosed each year, with the risk level higher among the world’s aging population. Changing lifestyles and dietary habits, physical inactivity, tobacco consumption, and environmental exposures are contributing to sustained increase in incidence of cancer not just in developed countries but also in developing economies. With cancer incidence expected to reach 24.3 million by 2030, there is increased demand for minimally invasive and cost efficient therapies. Radiation therapy or radiotherapy is one technique that has become an integral part of treatment for cancer patients. By using high-energy radiation from sources such as X-rays, neutrons, protons, and gamma rays, radiotherapy kills cancer-affected tissues or prevents multiplication of cancer cells in the body. Increasing preference for non-surgical techniques is a major factor promoting radiotherapy. The global market for radiotherapy equipment and software is expected to post strong growth in the coming years, driven by the rising incidence of cancer worldwide. Developing countries with growing population and globalization of unhealthy lifestyles and inadequate healthcare infrastructure represent underserved markets with immense untapped potential for growth for manufacturers of radiation therapy equipment.
The research report titled ” Global Radiation Therapy Equipment Market Analysis: 2018-2024″ announced by GMR Analytics, provides a comprehensive review of trends, issues, and strategic industry activities of major companies worldwide. The report provides market estimates and projections for geographic markets such as the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa and Latin America (Brazil, Mexico and Rest of Latin America).