Robotic Radiotherapy Market Size by Product (System, Software, 3D Camera), Technology (LINAC, Stereotactic, Particle Therapy), Application (Lung, Breast, Colorectal), End-User (Hospitals, Radiotherapy Centres), & Region - Global Forecast to 2028
The global size of 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. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market.
The market's expansion is driven by several factors, including the global rise in cancer cases, advancements in automation technologies enhancing the precision of radiotherapy, a growing preference for non-invasive cancer treatments, and the rapid proliferation of cancer treatment facilities. Additionally, increased merger and acquisition activities between manufacturers and radiotherapy software developers are expected to stimulate the uptake of radiotherapy systems. An illustrative example is the collaboration between GE Healthcare (US) and RaySearch Laboratories (Sweden) in May 2022 to pioneer a novel radiation therapy simulation and treatment planning workflow solution.
Furthermore, heightened government and private investments aimed at addressing the escalating need for cancer treatment, coupled with the rising healthcare expenditure and the burgeoning medical tourism sector in developing nations, are expected to present attractive growth prospects for stakeholders in the market in the foreseeable future.
Nevertheless, the substantial expense associated with radiotherapy systems may limit their availability in cancer centers, particularly in low-resource economies. Moreover, a scarcity of adequately trained personnel and the intricate nature of radiotherapy systems are anticipated to impede market expansion.
Global Robotic Radiotherapy Market Trends
To know about the assumptions considered for the study, Request for Free Sample Report
e- Estimated; p- Projected
Robotic Radiotherapy: Market Dynamics
Driver: Advancements in radiation therapy technologies
Technological progress has significantly transformed radiation therapy, resulting in the creation of sophisticated radiation therapy systems. These systems integrate advanced technologies and automation to enhance treatment efficiency, precision, and ultimately, patient outcomes.
The key technological advancement in radiation therapy involves the utilization of computerized treatment planning systems. These systems utilize algorithms and modeling techniques to create accurate treatment plans tailored to each patient. Through analysis of the patient's anatomy, tumor positioning, and radiation dosage needs, these automated systems optimize treatment plans, minimizing radiation exposure to healthy tissues and consequently lowering side effects. Some of the advancements are listed below:
- In 2023, MIM Software received FDA approval for its AI auto-contouring solution Contour ProtégéAI. This new software update offers improved algorithms for molecular radiotherapy and radiation oncology, further improving treatment outcomes.
- In May 2023, Brainlab AG launched the ExacTrac Dynamic Surface, a new product in the ExacTrac Dynamic product family of radiotherapy patient positioning and monitoring systems which is dedicated to surface-guided radiation therapy (SGRT).
In summary, technological advancements and automated systems in radiation therapy have revolutionized cancer treatment. As technology continues to advance, we can expect further innovations in robotic radiotherapy system, providing even more benefits for patients driven by the desire to offer patients less painless invasive, and more effective treatment options while reducing the risks and complications associated with traditional open surgeries.
Restraint: Dearth of skilled radiologists/oncologist
Robotic radiotherapy require radiologists to have a high level of expertise not only in radiation therapy but also in the use and interpretation of automated systems. These systems use complex algorithms and machine learning techniques to plan and deliver radiation treatments, and radiologists need to be well-versed in these technologies to effectively use these systems.
Unfortunately, there is a shortage of radiologists with the necessary skills and knowledge to work with radiotherapy systems. This is largely due to the lack of training opportunities and limited exposure to these systems during radiology education. Most radiology training programs focus on traditional radiation therapy techniques, and there is limited emphasis on the use of automated systems.
- The dearth of skilled radiologists has the potential to hinder the widespread adoption of radiotherapy systems. Healthcare facilities that invest in these systems may struggle to find qualified radiologists to operate them, limiting the benefits that these systems can provide.
Some of the related examples are mentioned below:
- The number of radiologists in the workforce is not growing as fast as the population and the demand for imaging. There’s absolutely a well-recognized shortage of radiologists in the U.K., Europe has 13 radiologists per 100,000 population but in the U.K., the rate is only 8.5 per 100,000.
- Similarly, India is also facing an acute shortage of oncologists, radiotherapists, and surgical oncologists. According to the Indian Council for Medical Research (ICMR), the number of Indians suffering from cancer is expected to increase to 29.8 million in the year 2025 from 26.7 million in 2021. However, the country has a huge shortfall of number of oncologists available for cancer patients. Currently, India has 200 oncologists per million cancer patients only.
By investing in the training and development of skilled radiologists, the robotic radiotherapy market can overcome the dearth of expertise and realize its full potential in improving cancer treatment outcomes.
Opportunity: Growing Government and Private Investments to Meet the Increasing Demand for Cancer Treatment
Radiotherapy has been accepted as a standard procedure for cancer treatment. The growing incidence of cancer and approval of different technologies for various radiation therapy applications are increasing the demand for radiotherapy procedures, globally. Currently, for every million people, there are almost 12 linear accelerators in the US, 5 to 8 radiotherapy machines in European countries, and less than one machine in developing countries across Asia, Latin America, and Africa. To bridge this gap, there is a requirement of over 10,000 more treatment machines, globally (Source: Cancer Control). Increasing public-private investments and funding for cancer research to bring in advancements in the diagnosis and treatment of cancer is one of the major factors supporting the growth of the robotic radiotherapy market. Listed below are some of the key developments in this regard:
- In July 2021, Leo Cancer Care (UK) successfully raised USD 25.3 million in funding from the investors across the globe taking an active interest in the businesses’ plan to develop upright radiotherapy solutions. The investors included Yu Galaxy, WARF, Alumni Ventures, Junson Capital and Serra Ventures, as well as industry players CHC, Cosylab, Toret Devices and Radiation Business Solutions.
- In August 2020, the Australian Government opened application for fundings of USD 45.5 million to develop regional radiation treatment centres for local cancer patients in rural and regional areas of New South Wales, Queensland, Victoria and South Australia.
Such investments from public and private sources are expected to offer potential growth opportunities for market players in the coming years.
Challenge: High cost of automated radiation therapy systems
Radiation therapy systems are highly sophisticated and require advanced technology and components. These systems must deliver precise and targeted radiation doses to minimize damage to healthy tissues while effectively treating tumors. Achieving this level of precision requires expensive machinery and software.
The cost of an radiotherapy system can vary depending on several factors, including the brand, model, features, and additional services. The high cost of automation radiation therapy systems can pose challenges for healthcare providers and patients, it is important to consider the value and benefits they offer in terms of improved treatment outcomes, enhanced precision, and reduced side effects. Continuous advancements in technology and growing market competition may also help drive down costs in the future.
Market Ecosystem
By product, the radiotherapy systems segment accounted for the largest share of robotic radiotherapy industry during the forecast period.
Based on the product, the robotic radiotherapy market is segmented into radiotherapy systems, software, 3D cameras, and others. The software segment accounted for the largest share of the global robotic radiotherapy market in 2022. Rapid penetration of AI in radiotherapy , increasing availability of radiation therapy software, and growing focus of market player on partnership & collaboration to enhance radiation software capabilities is supporting the overall growth of segment.
By technology, the linear accelerators segment accounted for the largest share of robotic radiotherapy industry during the forecast period.
Based on technology, the 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 for thelargest share of robotic radiotherapy market owing to the availability of advanced systems and their growing adoption worldwide. Furthermore, oncologists are increasingly recognizing the advantages of MR LINAC, leading to heightened investments in research and development for automated LINAC technology. Collaborations between industry players and cancer institutes are also on the rise, aimed at fostering innovation and improving the accessibility of LINAC technology.
By application, lung cancer is expected to witness significant growth of robotic radiotherapy industry during the forecast period.
Based on 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. The rapid rise in lung cancer prevalence, coupled with a rising count of patients opting for radiotherapy, is expected to drive growth in this segment. As per the American Lung Association (ALA), approximately 237,000 individuals in the United States received a lung cancer diagnosis in 2022.
By End User, hospital segment to dominate robotic radiotherapy industry end user.
Based on end-user, the global robotic radiotherapy market is segmented into hospitals and independent radiotherapy centers. The Hospitals segment dominated the global robotic radiotherapy end-user market in 2022 owing to the increase in the cancer patients undergoing radiotherapy treatment in cancer hospitals, increasing partnerships between radiotherapy providers and hospitals, and the expansion of cancer hospitals in both developed and developing countries.
North America to account for the largest share of robotic radiotherapy industry during the forecast period.
To know about the assumptions considered for the study, download the pdf brochure
North America is the expected largest regional market for robotic radiotherapy products in the forecast period. Countries in this market are witnessing a high volume of radiotherapy procedures, robust healthcare infrastructure, extensive patient base, and continuous hospital investments in upgrading their facilities. These elements collectively contribute to the region's significant share in the field.
As of 2022, prominent players in the robotic radiotherapy market are 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) and P-Cure (Israel), among others.
Scope of the Robotic Radiotherapy Industry
|
Report Metric |
Details |
|
Market Revenue in 2023 |
USD 1.1 billion |
|
Projected Revenue by 2028 |
USD 1.9 billion |
|
Revenue Rate |
Poised to Grow at a CAGR of 11.9% |
|
Market Driver |
Advancements in radiation therapy technologies |
|
Market Opportunity |
Growing Government and Private Investments to Meet the Increasing Demand for Cancer Treatment |
This report has segmented the global robotic radiotherapy market to forecast revenue and analyze trends in each of the following submarkets:
By Product
- Radiotherapy Systems
- Softwares
- 3D Cameras (Surface Guided)
- Others
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
By Application
- Prostate Cancer
- Breast Cancer
- Lung Cancer
- Head & Neck Cancer
- Colorectal Cancer
- Other Cancers
By End User
- Hospitals
- Independent Radiotherapy Centers
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
Recent Developments of Robotic Radiotherapy Industry:
- In May 2023, Vision RT (UK)received approval from FDA for the commercialization of its SGRT product Map RT in the US.
- In June 2023, RaySearch Laboratories (Sweden)launched RayStation 12A, an advanced treatment radiation treatment planning system.
- In February 2022, MIM Software formed a partnership with Genesis Care, one of the largest providers of cancer care services in Australia. Through this partnership, MIM Software will provide a comprehensive set of AI and automation radiotherapy software, including MIM Premier and MIM SurePlan MRT, across all the cancer treatment centers of GensisCare.
Frequently Asked Questions (FAQ):
What is the projected market revenue value of the global robotic radiotherapy market?
The global robotic radiotherapy market boasts a total revenue value of $1.9 billion by 2028.
What is the estimated growth rate (CAGR) of the global robotic radiotherapy market?
The global robotic radiotherapy market has an estimated compound annual growth rate (CAGR) of 11.9% and a revenue size in the region of $1.1 billion in 2023. .
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.
Secondary Research
The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, company house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the robotic radiotherapy market. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
Primary Research
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations in the robotic radiotherapy market. The primary sources from the demand side include medical OEMs, Analytical instrument OEMs, CDMOs, and service providers, among others. Primary research was conducted to validate the market segmentation, identify key players in the market, and gather insights on key industry trends & key market dynamics.
A breakdown of the primary respondents is provided below:
*Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.
Note: Companies are classified into tiers based on their total revenue. As of 2022, Tier 1 = >USD 10.00 billion, Tier 2 = USD 1.00 billion to USD 10.00 billion, and Tier 3 = <USD 1.00 billion.
To know about the assumptions considered for the study, download the pdf brochure
Market Estimation Methodology
In this report, the global robotic radiotherapy market size was arrived at by using the revenue share analysis of leading players. For this purpose, key players in the market were identified, and their revenues from the robotic radiotherapy business were determined through various insights gathered during the primary and secondary research phases. Secondary research included the study of the annual and financial reports of the top market players. In contrast, primary research included extensive interviews with key opinion leaders, such as CEOs, directors, and key marketing executives.
To calculate the global market value, segmental revenues were calculated based on the revenue mapping of major solution/service providers. This process involved the following steps:
- Generating a list of major global players operating in the robotic radiotherapy market
- Mapping annual revenues generated by major global players from the robotic radiotherapy segment (or nearest reported business unit/product category)
- Revenue mapping of key players to cover a major share of the global market as of 2022
- Extrapolating the global value of the robotic radiotherapy industry
To know about the assumptions considered for the study, Request for Free Sample Report
Data Triangulation
After arriving at the overall market size from the market size estimation process explained above, the global robotic radiotherapy market was split into segments and subsegments. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Additionally, the robotic radiotherapy market was validated using both top-down and bottom-up approaches.
Market Definition
Robotic radiotherapy market is a segment of the radiotherapy industry that focuses on the development and supply of advanced technology for radiotherapy treatment. Robotic radiotherapy consists of several components, including advanced imaging technologies, treatment planning software, and robotic treatment delivery systems. These components work together to provide a fully automated, integrated radiation therapy solution and play a crucial role in modern cancer treatment by enabling precise, efficient, and safe delivery of radiation therapy to patients.
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
Objectives of the Study
- 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.
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the present global robotic radiotherapy market report:
Product Analysis
- Product matrix, which gives a detailed comparison of the product portfolios of the top fifteen companies
Company Information
- Detailed analysis and profiling of additional market players (up to 15)
Geographic Analysis
- Further breakdown of the Rest of Europe's robotic radiotherapy market into Russia, Belgium, the Netherlands, Switzerland, Austria, Finland, Sweden, Poland, and Portugal, among other
- Further breakdown of the Rest of Asia Pacific robotic radiotherapy market into Singapore, Taiwan, New Zealand, Philippines, Malaysia, and other APAC countries.
Growth opportunities and latent adjacency in Robotic Radiotherapy Market