Chicago, May 02, 2024 (GLOBE NEWSWIRE) -- Robotic Radiotherapy market in terms of revenue was estimated to be worth $1.1 billion in 2023 and is poised to reach $1.9 billion by 2028, growing at a CAGR of 11.9% from 2023 to 2028 according to a latest report published by MarketsandMarkets™.
Increasing demand for non-invasive therapies, advancements in technology, higher incidence rates of cancer, and the expanding utilization of robotic radiotherapy in cancer care are key drivers fueling market expansion. Moreover, rising investments from both governmental and private sectors, alongside the widespread adoption of radiotherapy worldwide, are expected to contribute significantly to the market's upward trajectory.
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Robotic Radiotherapy Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $1.1 billion |
| Estimated Value by 2028 | $1.9 billion |
| Growth Rate | Poised to grow at a CAGR of 11.9% |
| Market Size Available for | 2021–2028 |
| Forecast Period | 2023–2028 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Technology, Application, End Users, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Growing Government and Private Investments to Meet the Increasing Demand for Cancer Treatment |
| Key Market Driver | Advancements in radiation therapy technologies |
On the basis of product, the global robotic radiotherapy market is segmented into radiotherapy systems, software, 3D cameras, and others. The radiotherapy segment accounted for the largest share of the global robotic radiotherapy market in 2022, whereas the 3D cameras segment is projected to grow at the highest CAGR during the forecast period. For radiotherapy systems segment factors such as ongoing collaborations among research institutes and industry players focusing on expanding the application of robotic radiotherapy, government investments in expanding cancer facilities, coupled with increasing regulatory approvals for advanced radiotherapy systems, are expected to drive the widespread adoption of AI-integrated radiotherapy systems in clinical settings, thereby supporting market growth in this segment.
On the basis of technology, the global robotic radiotherapy market is segmented into linear accelerators, stereotactic radiation therapy systems, and particle therapy. The linear accelerators segment is expected to account for the largest share of the robotic radiotherapy market in 2023. Enhanced treatment scheduling provided by MR LINACS, decreased need for immobilization, and advancements in imaging technologies are expected to enhance patient comfort and bolster the dominance of leading providers offering automation in LINAC technology, thus driving segment growth.
On the basis of application, the robotic radiotherapy market is segmented into prostate cancer, breast cancer, lung cancer, head & neck cancer, colorectal cancer, and other cancers. The lung cancer segment accounted for the largest share of the global robotic radiotherapy market in 2022.
Lung cancer represents a considerable worldwide health concern, with an estimated annual diagnosis of over 2 million new cases and resulting in more than 1.7 million deaths, as projected by the World Health Organization (WHO). These statistics may have undergone changes due to continuous research efforts, fluctuations in smoking habits, and advancements in cancer detection and reporting methods. Cigarette smoking remains the primary contributing factor to lung cancer incidence, with areas exhibiting high or rising smoking rates typically witnessing a parallel increase in lung cancer occurrences.
Furthermore, the exposure to air pollutants, particularly in urban locales characterized by subpar air quality, has been associated with heightened susceptibility to lung cancer. Specific workplace dangers, such as exposure to carcinogens prevalent in mining, construction, and manufacturing, also play a role in the disease's prevalence. Contemporary lifestyles and dietary practices might additionally amplify the likelihood of developing lung cancer. With the global populace aging, there is typically an uptick in lung cancer diagnoses, potentially leading to a greater number of instances. To counteract this pattern, early detection, enhanced treatment modalities, and concerted public health initiatives play pivotal roles in mitigating the global burden of lung cancer.
Based on the end user, the robotic radiotherapy market is segmented into hospitals and independent radiotherapy centers. The Hospitals segment dominated the global ART end-user market in 2022. The large share of this segment can be attributed to factors such as the presence of strict regulations governing radiotherapy, a surge in collaborative research efforts, growing government funding aimed at enhancing cancer treatment and management, and the expanding deployment of Advanced Radiotherapy facilities across the globe. In 2022, the independent radiotherapy centers category secured the second-highest market share in the global robotic radiotherapy market. The increasing utilization of radiotherapy services and the evolution of robotic radiotherapy technology are the primary catalysts fueling the demand for ART solutions within independent radiotherapy centers.
Based on the region, the robotic radiotherapy market covers four key geographies—North America, Europe, Asia Pacific, and the Rest of the World. The market in North America accounted for the largest share of the market in 2022. The large share of this regional segment can primarily be attributed to the easy accessibility and fast adoption of advanced technologies among key stakeholders and the presence of rapid adoption of cutting-edge technologies by key stakeholders and the enforcement of strict governmental regulations regarding radiotherapy. Projections suggest that the Asia Pacific market for robotic radiotherapy will experience the highest Compound Annual Growth Rate (CAGR) in the foreseeable future. This growth is propelled by factors such as the implementation of stringent radiotherapy regulations across major Asian nations and governmental backing for the advancement and commercialization of sophisticated Adaptive Radiotherapy products.
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Robotic Radiotherapy market major players covered in the report, such as:
- Siemens Healthcare GmbH (Germany)
- Elekta (Sweden)
- Accuray Incorporated (US)
- IBA (Belgium)
- ViewRay Technologies, Inc. (US)
- C-RAD (Sweden)
- IBA Worldwide (Belgium)
- Hitachi Ltd. (Japan (US)
- Mevion Medical Systems (US)
- Optivus Proton Therapy, Inc. (US)
- Panacea Medical Technologies Pvt. Ltd. (India)
- P-Cure (Israel)
- Provision Healthcare (US)
- Sumitomo Heavy Industry Ltd. (Japan)
- Toshiba Corporation (Japan)
- Koninklijke Philips N.V., (Netherlands)
- RaySearch Laboratories (Sweden)
- Vision RT Ltd. (UK)
- Advanced Oncotherapy plc (UK)
- and Among Others
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This report has segmented the global robotic radiotherapy market based on product, technology, application, end users, and region.
Global Robotic Radiotherapy Market, by Product
- Radiotherapy Systems
- Software
- 3D Cameras (Surface Guided)
- Others
Global Robotic Radiotherapy Market, by Technology
- Linear Accelerators
- Conventional Linear Accelerators
- MRI - Linear Accelerators
- Stereotactic Radiation Therapy Systems
- Cyberknife
- Gamma Knife
- Particle Therapy
- Proton Beam Therapy
- Heavy Ion beam Therapy
Global Robotic Radiotherapy Market, by Application
- Prostate Cancer
- Breast Cancer
- Lung Cancer
- Head & Neck Cancer
- Colorectal Cancer
- Other Cancers
Global Robotic Radiotherapy Market, by End user
- Hospitals
- Independent Radiotherapy Centers
Robotic Radiotherapy Market, by region
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Rest of World
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Key Market Stakeholders:
- Radiotherapy product manufacturing companies
- Distributors, suppliers, and commercial service providers
- Healthcare service providers
- Clinical research organizations (CROs)
- Radiotherapy service providers
- Radiotherapy product distributors
- Medical research laboratories
- Cancer care centers
- Cancer research organizations
- Academic medical centers and universities
- Market research and consulting firms
Report Objectives:
- To define, describe, and forecast the robotic radiotherapy market on the basis of product, technology, application, end user, and region
- To provide detailed information regarding the major factors influencing the growth potential of the global robotic radiotherapy market (drivers, restraints, opportunities, challenges, and trends).
- To analyze the micro markets with respect to individual growth trends, future prospects, and contributions to the global robotic radiotherapy market.
- To analyze key growth opportunities in the global robotic radiotherapy market for key stakeholders and provide details of the competitive landscape for market leaders.
- To forecast the size of market segments and/or subsegments with respect to four major regions, namely, North America (US and Canada), Europe (Germany, France, the UK, Italy, Spain, and the RoE), Asia Pacific (Japan, China, India, Australia, South Korea, ASEAN region and the RoAPAC), and Rest of the world.
- To profile the key players in the global robotic radiotherapy market and comprehensively analyze their market shares and core competencies.
- To track and analyze the competitive developments undertaken in the global robotic radiotherapy market, such as product launches, agreements, expansions, and & acquisitions.
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