Image-Guided Radiation Therapy Market Growth Forecast: Exploring Trends and Opportunities for the Next Decade
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What key factors are powering the surge in the Image-Guided Radiation Therapy market right now?
The market size for image-guided radiation therapy has seen a robust expansion in the last few years. Its growth is expected to increase from $1.89 billion in 2024 to $2.01 billion in 2025, maintaining a compound annual growth rate (CAGR) of 6.1%. This growth during the historical period can be credited to factors such as escalating industrialization, the need for quality assurance, adherence to regulatory standards, the growth of infrastructure projects, and the internationalization of supply chains.
How fast Is the image-guided radiation therapy market expected to grow, and what’s its future value?
The market for image-guided radiation therapy is projected to experience steady growth in the coming years, reaching a valuation of $2.4 billion in 2029, expanding at a CAGR of 4.6%. This growth during the forecast period is anticipated to be driven by ongoing infrastructure development, changes in the regulatory environment, the expansion of renewable energy, heightened sustainability practices, along with an increase in aerospace and automotive production. Key trends anticipated during this forecast period comprise of miniaturization and portability, innovations in x-ray tube technology, adoption of digital radiography, artificial intelligence (AI) integration, and customisation for specific applications.
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What are the leading drivers of growth in the image-guided radiation therapy market?
The image-guided radiation therapy market is expected to be driven by the growing prevalence of cancer. Cancer, characterized by unregulated growth and spread of abnormal cells, is treated using image-guided radiation therapy (IGRT) as it can precisely direct radiation to cancer cells, while mitigating harm to healthy tissues and reducing adverse effects. The American Cancer Society, a US-based non-profit, reported in January 2022 that the projected number of new cancer diagnoses would be roughly 2 million, marking an increase of well over 10%. Consequently, the escalating cancer incidence contributes to the image-guided radiation therapy market’s advancement.
Boost in Healthcare Expenditure Propels Image-Guided Radiation Therapy Market Growth
What are the key segments defining the image-guided radiation therapy market?
The image-guided radiation therapy market covered in this report is segmented –
1) By Product Type: 4D Gating And 4D RT, Linear Accelerator (LINAC), PET And MRI Guided Radiation Therapy, Portal Imaging, CT Scanning
2) By Procedure: Intensity-Modulation Radiation Therapy, 3D Conformal Radiation Therapy, Stereotactic Therapy, Proton Beam Therapy, Particle Therapy
3) By Application: Lung Cancer, Prostate Cancer, Head And Neck Cancer, Gynecological Cancer, Gastrointestinal Cancer, Other Applications
4) By End User: Hospitals, Independent Radiotherapy Centers
Subsegments:
1) By 4D Gating and 4D RT: 4D Gating Systems, 4D Radiation Therapy Systems
2) By Linear Accelerator (LINAC): Conventional LINAC Systems, Advanced LINAC Systems
3) By PET And MRI Guided Radiation Therapy: PET/CT Guided Radiation Therapy, MRI Guided Radiation Therapy
4) By Portal Imaging: Electronic Portal Imaging, Conventional Portal Imaging
5) By CT Scanning: CT Imaging For Radiation Therapy Planning, Cone Beam CT For Radiation Therapy
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Who are the key players steering the development of the image-guided radiation therapy market?
Major companies operating in the image-guided radiation therapy market report are Hitachi Ltd., Toshiba Corporation, Siemens Healthcare GmbH, Koninklijke Philips N.V., GE Healthcare Company, Varian Medical Systems Inc., Elekta AB, Canon Medical Systems R&D (Dalian) Co. Ltd., Accuray Incorporated, Ion Beam Applications S.A., Brainlab AG, ViewRay Technologies Inc., Mevion Medical Systems Inc., RaySearch Laboratories AB, Vision RT Ltd., Sun Nuclear Corporation, IZI Medical Products LLC, Eckert & Ziegler BEBIG GmbH, C-RAD AB, Standard Imaging Inc., CIVCO Radiotherapy Inc., IntraOp Medical Corporation, RTsafe Solutions Ltd., ASG Superconductors S.p.A., Mirada Medical Corporation, Xstrahl Ltd., Mobius Medical Systems LP, Precision X-Ray Inc., RefleXion Medical Inc., Panacea Medical Technologies Pvt. Ltd.
What emerging trends are influencing the growth of the image-guided radiation therapy market?
Leading companies in the image-guided radiation therapy market are concentrating on advancements in technology, such as the Cenos system which provides an adaptable online therapy option for radiotherapy procedures. Cenos enables healthcare professionals to swiftly and efficiently adjust a radiation therapy plan as and when required while the patient is still receiving treatment. For example, in October 2023, Accuray Incorporated, an American firm that manufactures radiation therapy systems, in association with Limbus AI, a Canadian AI firm, introduced the Cenos platform for their Radixact System. This modern treatment delivery system can treat various types of cancer, including breast, prostate, lung and head/neck cancer, as well as complex treatments like total marrow irradiation. The system has distinct features such as a high-speed multileaf collimator, a fully unified platform, and the Tomo C platform. Furthermore, the therapy option offers healthcare providers the flexibility to digitally adjust their treatment plan to accommodate any changes that might occur between treatment sessions.
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Which regions are most influential in expanding the image-guided radiation therapy market?
North America was the largest region in the image-guided radiation therapy market in 2024. The regions covered in the image-guided radiation therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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