Global Imaging Guided Radiotherapy Market – Industry Updates
Nov, 2017 ViewRay, Inc. has successfully installed the MR-Guided Radiotherapy System in Washington University. This initiative is expected to increase the customer base for ViewRay Inc. and strengthen its position in USA.
Nov, 2017 ViewRay, Inc. has successfully installed the MRIdian® Linac in Rigshospitalet and Herlev Hospitals, Denmark. This initiative is expected to strengthen its market in Europe.
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Dec, 2017 Varian’s Halcyon Treatment System, an image guided radiotherapy has recently received ANVISA Registration from Brazil. With this approval Varian has expanded its reach in Latin America and has the opportunities to increase the overall customer base.
June, 2016 Merck to acquire afferent pharmaceuticals in a deal where Merck will acquire a privately held afferent pharmaceutical’s. Afferent pharmaceuticals is a leader in the development of therapeutic, thus this acquisition will benefit Merck and strengthen their therapeutic segment.
Global Imaging Guided Radiotherapy Market – Regional Analysis
According to regions, the global Imaging Guided Radiotherapy Market is dominated by North America. The factor contributing for its growth includes the rising medical tourism and increasing healthcare sector privatization in this region. According to National Institute of Health (NIH) it has been found that in 2016, a projected 1,685,210 new cases of cancer will be detected in the United States and 595,690 individuals will die from the disease which further increases the growth of the market.
Moreover the prevalence of chronic disease is increasingly spreading in North American countries, For example according to survey of National Center for Chronic Disease Prevention and Health Promotion (CDC) in United States every year 7 out of 10 individuals die due to chronic diseases and 86% of healthcare costs in the country. With cancer biological therapy playing a primary role for patients treatment and enhancing the market for North America region.
In 2014, European Society for Medical Oncology estimated the cost burden of cancer and estimated around 110 to 120 billion euros. Germany accounted for approximately 20% to 26% of total cost. As per the Associations of European Cancer League, 3 million new cancer cases occur in 38 European countries. Breast cancer and prostate cancer has been diagnosed within one third of European population. Many European cancer organizations including cancer Immunology & Immunotherapy Center (CIIC) are strategizing collaborations with developing countries in Europe with the aim to improve diagnosis and therapeutic treatment for different types of cancer, particularly including prostate and breast cancer for Europe
Asia-Pacific market is expect to be the fastest growing market. This high growth is mainly attributed due to increasing R&D funding by the developing countries like China and India for the development of healthcare sector. The various others factors that influence the growth of the market include growing incidence of cancer, aging population, Increasing demand for advanced therapies, patent expiry of leading drugs, government initiatives and increasing public awareness about various diseases and treatment options.
Global Imaging Guided Radiotherapy Market – Key Players
Some of the key players in The Imaging Guided Radiotherapy Market are ViewRay (US), General Electric Company (US), Hitachi, Ltd. (Japan), Siemens AG (Germany), Koninklijke Philips N.V. (Netherland), TOSHIBA CORPORATION (Japan), Varian Medical Systems, Inc. (US), Vision RT Ltd. (UK), Scranton Gillette Communications (US), XinRay Systems (US), and C-RAD (Sweden).
Global Imaging Guided Radiotherapy Market – Overview
The Global Imaging Guided Radiotherapy Market is growing exponentially owing to the rising prevalence of cancer and growing demand for advanced therapies are the major factor driving the Imaging Guided Radiotherapy Market. The global IGRT market is expected to grow at a CAGR of 15.8% during the forecasted period.
Image Guided Radiotherapy (IGRT), a type of conformal radiotherapy, involves the use of different scans and X-rays to treat an area of cancer. Conformal radiotherapy shape the radiotherapy beams around the area of the cancerous tissue. It uses X-rays and scans similar to CT scans before and during the radiotherapy treatment. It improves the precision and accuracy of treatment delivery. These therapy are majorly used in the treatment of cancer such as lung cancer, skin cancer, and others.
Increasing prevalence of cancer and rapid development in the cancer treatment drives the growth of the market. According to the World Health Organization (WHO), cancer is one of the leading causes of morbidity and mortality worldwide. The data also suggest that about 14 million new cases observed in 2012, which is expected to increase by 70% till 2030. Apart from this, continuously rising demand for the better cancer treatment, increasing healthcare expenditure, and government encouragement for research & development expected to fuel the growth of the market over the corresponding period.
On the other hand, high cost of the treatment & devices and side effects of the treatment may slow the market growth over the forecasted period
Global Imaging Guided Radiotherapy Market – Segmentation
The Global Image Guided Radiotherapy Market is segmented on the basis of types, technology, devices, application, and end users.
On the basis of types, the market is segmented into soft-tissue imaging, lung MRI, simplifying cardiac MRI, simplifying MRI-conditional implant scans, and silent MRI scanning.
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On the basis of technology the market is segmented into radiation-based, non-radiation based systems, and others. Radiation-based system is further segmented into electronic portal imaging devices (EPID), cone beam CT, Fan beam, and others. Non-radiation based systems are further segmented into ultrasound-based systems, camera-based or optical tracking systems, MRI-guided IGRT, and others.
On the basis of devices, the market is segmented into X-ray computed tomography (CT), magnetic resonance imaging (MRI), positron emission tomography, and others. X-ray computed tomography market is further segmented into digital X-ray, computed tomography (CT), conventional CT, optical tracking, cone beam, MVCT, and others.
On the basis of end users, the market is segmented in hospitals, smart cancer centers, research institutes, and others.
Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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