New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "LINAC Devices Global Market Report 2023" - https://www.reportlinker.com/p06480078/?utm_source=GNW
, Siemens Healthineers GmbH, Shinva Medical Instrument Co. Ltd., Altair Technologies Inc., BEVATECH GmbH, CGN Dasheng Electron Accelerator Technology Company Limited, Diondo GmbH, IBA SA, and Brainlab AG.
The global LINAC devices market is expected to grow from $4.37 billion in 2022 to $4.79 billion in 2023 at a compound annual growth rate (CAGR) of 9.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The LINAC devices market is expected to reach $6.61 billion in 2027 at a CAGR of 8.4%.
The LINAC devices market consists of sales of a electron generation component, beam transport equipment, radiotherapy equipment, imaging and monitoring accessory.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
LINAC stands for linear accelerator, which refers to a device used to accelerate charged particles, such as electrons or protons, in a straight line. LINACs are used in medical settings to produce high-energy electron or X-ray beams for radiation therapy to treat cancer.
North America was the largest region in the LINAC devices market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in LINAC devices report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of LINAC devices are high-energy, low-energy, and medium-energy devices.A high-energy linear accelerator (LINAC) refers to a device that operates at energies of 20-50 million electron volts (MeV) and is used to generate high-energy X-rays or electron beams for radiation therapy for tumors situated deep within the body.
Linear accelerator and non-dedicated linear accelerator methods are used for breast cancer, colorectal cancer, head and neck cancer, lung cancer, prostate cancer, and others. It is used by clinics, hospitals, and research center.
Rising cancer cases is expected to propel the growth of the LINAC devices market forward.Cancer refers to a disease in which cells grow uncontrollably, and abnormal cells are spread in the body.
Linear accelerators are used in radiation therapy to deliver external beam radiation (high-energy X-rays) at the cancer site to treat various cancers. For instance, in February 2022, according to The American Cancer Society, a US-based voluntary health organization dedicated to eliminating cancer, in the U.S., 1,806,590 new cancer cases and 606,520 cancer-related deaths are anticipated in 2020, which is 4,950 new cases and more than 1,600 fatalities daily. Therefore, the increased number of cancer cases is driving the LINAC devices market.
Technological advancements were a key trend gaining popularity in the LINAC devices market.Major companies in the market are introducing products based on innovative technologies such as ViewRay MRIdian MRI-Guided Radiation Therapy System to sustain their position in the market.
For instance, in March 2023, GenesisCare, a US-based cancer and cardiac care provider, launched an MRI-guided radiation therapy system at the Lee Health Regional Cancer Center.MRIdian optimizes treatment such that fewer sessions may be necessary by combining precision radiation therapy with cutting-edge, high-resolution MRI guidance.
The uniqueness of the product is that it is the first radiotherapy system with diagnostic-quality MRI with an advanced linear accelerator and provides access to the MRIdian Stereotactic MRI-guided Adaptive Radiotherapy (SMART) therapy.
In April 2021, Siemens Healthineers AG, a Germany-based medical device manufacturer, acquired Varian Medical Systems Inc. for $16.4 billion. The acquisition provided Siemens with a chance to leap into cancer care and the overall healthcare sector. Varian Medical Systems is a US-based manufacturer of linear accelerators and other stereotactic surgery devices.
The countries covered in the LINAC devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The LINAC devices market research report is one of a series of new reports that provides LINAC devices market statistics, including the LINAC devices industry global market size, regional shares, competitors with a LINAC devices market share, detailed LINAC devices market segments, market trends, and opportunities, and any further data you may need to thrive in the LINAC devices industry. This LINAC devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06480078/?utm_source=GNW
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