Image-Guided Radiation Therapy Market in terms of revenue was estimated to be worth $1.9 billion in 2023 and is poised to reach $2.4 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 image-guided radiation therapy 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.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=171554723
PET/ MRI-guided radiation therapy segment to register a significant growth rate over the forecast period of 2022-2028.
Based on the product, the image-guided radiation therapy market is segmented into LINAC (linear accelerator), 4D gating/ 4D RT, PET/ MRI-guided radiation therapy, CT scanning, and portal imaging. The capability of PET/MRI to furnish functional insights directs the administration of radiation doses, effectively mitigating healthy tissue exposure and subsequently alleviating the occurrence of adverse effects. This contribution significantly bolsters the market trajectory of image-guided radiation therapy, enhancing its appeal and positioning within the healthcare landscape.
PET/MRI facilitates the concurrent capture of both structural and molecular data, offering valuable support for treatment strategizing and immediate evaluation throughout radiation therapy. This distinctive feature reinforces the market advancement of image-guided radiation therapy, augmenting its utility and attractiveness within the medical domain.
The breast cancer application segment accounted for a significant share of the image-guided radiation therapy market in 2022-2028.
Based on the application, the image-guided radiation therapy market is segmented into breast cancer, prostate cancer, head & neck cancer, lung cancer, gastrointestinal cancer, gynaecological cancer, and other applications. The rising incidence of cancer worldwide is a significant driver for the image-guided radiation therapy market. The precision inherent in image-guided radiation therapy (IGRT) mitigates the necessity for frequent and discomforting repositioning of patients during treatment sessions. 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 image-guided radiation therapy market.
IGRT 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 neighbouring healthy tissues unfavourably. 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.
Intensity modulation radiation therapy procedure segment accounted for the largest share of the image-guided radiation therapy market in 2022-2028.
Based on the procedure, the image-guided radiation therapy market is segmented into 3D conformal therapy, stereotactic therapy, proton beam therapy, intensity modulation radiation therapy, and particle therapy. The intensity modulation radiation therapy procedure segment is estimated to hold the 39.2% market share of the image-guided radiation therapy market in 2022. Intensity Modulated Radiation Therapy (IMRT) is instrumental in crafting tailored treatment blueprints through the optimization of radiation administration based on tumor dimensions, contours, and placement. This congruence aligns seamlessly with the personalized treatment ethos central to Image-Guided Radiation Therapy (IGRT). The heightened precision characteristic of IMRT translates to diminished radiation exposure to vital organs and unaffected tissues, thereby attenuating the potential for treatment-induced complications. This correlation distinctly resonates with IGRT’s mission to curtail adverse effects, collectively accentuating its market viability and relevance.
Hospitals segment to register for the largest market share of the image-guided radiation therapy market in 2022-2028.
The major end users in the image-guided radiation therapy market are independent radiotherapy centers and hospitals. Hospitals are expected to account for a major market share in 2022. Healthcare institutions grapple with a considerable influx of cancer patients, thereby magnifying the attraction towards image-guided radiation therapy (IGRT). The precision inherent in IGRT’s 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 image-guided radiation therapy, establishing it as a pivotal therapeutic modality for healthcare establishments addressing the complexities of cancer treatment management.
Overall, Within the sphere of image-guided radiation therapy (IGRT), 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 facets distinctly fosters the expansion and heightened prominence of IGRT’s presence within the hospital ecosystem, consequently amplifying its market position and traction.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=171554723
North America to account for a significant market share in the image-guided radiation therapy market in 2022.
In 2022, the North American region is expected to register significant growth in the market during the forecast period. North America comprises the 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 image-guided radiation therapy (IGRT). The region’s notably comprehensive healthcare reimbursement frameworks further reinforce the adoption of sophisticated treatments, including IGRT, 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.
Key Market Players:
As of 2022, prominent players in the image-guided radiation therapy market are Siemens Healthineers AG (Germany), Elekta (Sweden), and Accuray Incorporated (US), among others.
In conclusion, the Image-Guided Radiation Therapy market offers a host of advantages that are revolutionizing cancer treatment, ultimately leading to improved patient outcomes, enhanced safety, and a higher quality of life for individuals undergoing radiation therapy.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=171554723
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/image-guided-radiation-therapy-market-171554723.html