The Global Radiation Oncology Devices Market to Upsurge at a CAGR of ~8% by 2027 | DelveInsight

Rising cancer cases, rapid technological development activities, strong R&D initiatives from key players, rising adoption of radiotherapy procedures in cancer treatment, and increasing demand for minimally invasive procedures are all contributing to the radiation oncology devices market growth during the forecast period.

LAS VEGAS, Jan. 30, 2023 /PRNewswire/ -- DelveInsight's Radiation Oncology Devices Market Insights report provides the current and forecast market analysis, individual leading radiation oncology devices companies' market shares, challenges, radiation oncology devices market drivers, barriers, and trends, and key radiation oncology devices companies in the market.

Key Takeaways from the Radiation Oncology Devices Market Report

• As per DelveInsight estimates, North America is anticipated to dominate the global radiation oncology devices market during the forecast period. 
• Notable radiation oncology devices companies such as Siemens Healthineers AG, Elekta AB, Accuray Incorporated, IBA Worldwide, C. R. Bard, Inc (BD), Isoray Inc., Mevion Medical Systems, Viewray Technologies, Inc., Eckert & Ziegler BEBIG, ZEISS, GT Medical Technologies, Inc., Hitachi, Ltd., Xoft (iCAD, Inc.), IntraOp Medical, Inc., Panacea Medical Technologies Pvt. Ltd., SIT - S.I.T. Sordina IORT Technologies S.p.A., Sensus Healthcare, Inc., Theragenics, Optivus Proton Therapy, Inc., P-cure, and several others are currently operating in the radiation oncology devices market.
• In Jan 2023, Accuray Incorporated announced that Auckland Radiation Oncology (ARO) is the first facility in New Zealand to use the CyberKnife® System, a robotic radiation therapy device known for delivering treatments with sub-millimeter precision and accuracy in 1 to 5 outpatient sessions.
• On January 5, 2023, ViewRay, Inc. announced that Chindex Medical Limited (Chindex), through its subsidiary, has ordered 10 MRIdian MR-Guided Therapy Systems.
• In November 2022, Elekta announced the FDA 510(k) clearance of Elekta Esprit, a new Leksell Gamma Knife radiosurgery platform.
• In October 2022, CIVCO Radiotherapy, a global provider of radiotherapy solutions, announced a partnership with Qfix, a provider of patient positioning and immobilization devices.
• In June 2022, Varian announced today that it had received an IDE from the FDA to advance its Flash clinical research program.
• In February 2022, GT Medical Technologies Inc., creators of GammaTile Therapy, announced its 2021 roster of ELITE Distinguished Brain Tumor Specialists that have completed 10 or more GammaTile Therapy procedures in 2021.

To read more about the latest highlights related to the radiation oncology devices market, get a snapshot of the key highlights entailed in the Global Radiation Oncology Devices Market Report

Radiation Oncology Devices Overview

Radiation therapy (RT) uses high-energy X-rays or other particles to destroy tumor cells. It is used to slow or stop tumor growth and is usually given after surgery, and may be combined with chemotherapy. The most common type of radiation treatment is external-beam radiation therapy, which delivers radiation from a machine outside the body. Internal radiation therapy, also known as brachytherapy, is the delivery of radiation therapy through implants.

Radiation Oncology Devices Market Insights

Among all regions, North America is expected to account for the largest share of the global radiation oncology devices market. Rising cancer prevalence, supportive government policies, increased emphasis on promoting oncology research, and a favorable environment for product development and launch will drive the region's radiation oncology devices market growth.

Furthermore, the increased emphasis on product development activities and device manufacturers' eagerness to enter local markets contribute to the expansion of regional radiation oncology device markets. For example, Alpha Tau's alpha-radiation cancer therapy breakthrough device designation was granted by the US Food and Drug Administration (FDA) in October 2021 to treat patients with recurrent glioblastoma multiforme (GBM).

These types of product launches in local markets drive demand for radiation oncology devices in the market. The North American radiation oncology devices market is expected to grow during the forecast period due to the interaction of various factors, such as the presence of a large patient population, encouraging reimbursement policies, and new product launches in the region.

To know more about why North America is leading the market growth in the radiation oncology devices market, get a snapshot of the Radiation Oncology Devices Market Outlook 

Radiation Oncology Devices Market Dynamics

The radiation oncology devices market is experiencing increased product demand for a variety of reasons; one of which is the rising prevalence of various cancers. Radiation oncology devices are in high demand in the field of medical imaging these days. Radiation oncology devices are an effective imaging technique that aids physicians in diagnosing cancers in the brain, prostate, lung, and other organs.

However, the high costs of procedures and the side effects associated with radiation may be limiting factors in the growth of the radiation oncology devices market.

Furthermore, outpatient visits were canceled due to the pandemic, as were non-emergency hospitals and procedures. As a result, the number of routine clinical examinations and related procedures for visits was reduced.

However, the development of the COVID-19 vaccine has started the process of economic recovery, with the easing of lockdown restrictions and the return of normalcy in the economic landscape, which has started the process of resumption of regular healthcare services such as outpatient visits, thereby increasing demand in the radiation oncology devices market.

Get a sneak peek at the radiation oncology devices market dynamics @ Radiation Oncology Devices Market Dynamics Analysis

Radiation Oncology Devices Market Assessment

• Radiation Oncology Devices Market Segmentation
• Market Segmentation By  Type: External Beam Radiation Therapy [Linear Accelerators (Linac), Stereotactic Advanced Electron/Cobalt-60 Linear Accelerators {Gamma Knife, Cyberknife, Tomotherapy}, Proton Therapy, Cyclotron, Synchrotron, Others], Internal Beam Radiotherapy/Brachytherapy
• Market Segmentation By  Technology: External Beam Radiation Therapy [Image-Guided Radiotherapy (Igrt), Intensity Modulated Radiotherapy (Imrt), Stereotactic Technology, Proton Beam Therapy, 3D Conformal Radiotherapy (3D CRT), Others], Internal Beam Radiotherapy/Brachytherapy [Low-Dose Rate Brachytherapy, High-Dose Rate Brachytherapy]
• Market Segmentation By  Application: External Beam Radiation Therapy (Prostate Cancer, Breast Cancer, Lung Cancer, Head And Neck Cancer, Colorectal Cancer, Others), Internal Beam Radiation Therapy (Prostate Cancer, Gynecological Cancer, Breast Cancer, Cervical Cancer, Penile Cancer, Others)
• Market Segmentation By End User: Hospitals, Independent Radiotherapy Centers, Others
• Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
• Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View

Which MedTech key players in the radiation oncology devices market are set to emerge as the trendsetter explore @ Radiation Oncology Devices Companies 

Table of Contents 

Interested in knowing the radiation oncology devices market by 2027? Click to get a snapshot of the Radiation Oncology Devices Market Trends

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