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Radiation works by making small breaks in the DNA inside cells. These breaks keep cancer cells from growing and dividing and cause them to die. Normal cells nearby can also be affected by radiation, but most recover and go back to working the way they should.
The increasing awareness spread by conferences and symposiums on the health benefits of radiotherapy coupled with rising investments by government and private associations to meet the increasing demand for cancer treatment has been augmenting the market positively. The increased prevalence of cancer and the growing utility of particle therapy for its treatment is another driver for this market.
The global market for radiotherapy equipment is expected to account for a value of USD 7 Billion in 2020 and it is anticipated to reach USD 11 Billion by 2028. This market is segmented based on Product Type, End-User, and Region. The CAGR for this market is estimated to be 6% during the forecast period. North American market is likely to have the largest market size followed by Europe. Canada and the US are major contributors to the North American market and the U.S is expected to maintain a growth momentum of approximately 5% during the forecast period.
APAC is predicted to be the fastest-growing segment owing to factors like increasing disposable income, improving healthcare infrastructure, and supportive government activities. China is a major contributor to this segment and is expected to grow at a growth rate of 9% during the forecast period. Based on type, the external beam radiotherapy segment is expected to grow at the highest rate accounted to be roughly 6.2% during the forecast period. This is attributed to reduced radiation exposure. By end-user, hospitals constitute the largest share in the market due to the increasing prevalence of cancer.
The study period of the report titled,” Global Radiotherapy equipments - Market and Technology Forecast to 2028" ranges from 2018-2028, and the forecast period is from 2020-2028. This report is segmented based on Product Type, End-User, and Region.
The report is aimed at:
- Insights based on drivers, restraints, and challenges and their impacts on the global market have been mentioned in this report.
- The forthcoming technologies that can influence this market's growth have been discussed in detail.
- The key players in this field and the strategies adopted by them have been mentioned in this report.
- Porter’s Five Forces and PESTLE Analysis are used to develop a strategic analysis of the market.
- The opportunities that this market sector provides have been discussed.
Segmentation covered in this Report:
The market is segmented based on Product Type, End-User, and Region
By Product Type
- External Beam Radiotherapy devices
- Internal Beam Radiotherapy devices
- Systematic Radiotherapy Equipment
- Independent Radiotherapy Centers
- North America
- Asia Pacific
- Middle East
- Rest of the World
- United States
- United Kingdom
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- The new player and existing players could make use of this report to analyze the existing key market trends.
- A detailed analysis concerning the impacts of the drivers, restraints, and challenges in the Radiotherapy equipments market have been made which can be of use to new entrants and potential players to study and gain a perspective about this sector.
- Upcoming technologies and their impact on the market have been discussed, this could help existing players gain an outlook about the global radiotherapy equipments market.
- The existing players in the market could discover new opportunities with the help of this report since they have been covered in detail.
- The sales teams engaging in the Radiotherapy Equipments market could use this report to understand the changing market trends and demography.
- Technology Innovators: Can make use of this report to study the technological advancements worldwide and optimize the existing equipments concerning their grey areas.
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- Governments, Associations, and Industrial Bodies: Could make use of this report to understand the existing markets as well as the opportunities provided by the same.
- Sales Teams: They can use this report to understand the drivers of the market and apply it to the dynamically changing market trends to increase product sales.