Radiotherapy Market

Siemens Healthcare GmbH (Germany) and Elekta (Sweden) are Leading Players in the Radiotherapy Market

The global radiotherapy system market is projected to reach USD 8.8 billion by 2028 from USD 6.9 billion in 2023, growing at a CAGR of 5.0% during the forecast period.

The increasing cancer patient population globally, the rapid adoption of  radiotherapy technology  for cancer treatment, and technological advancement in radiotherapy are primarily driving  the growth of radiotherapy  market. In addition to this rising healthcare expenditure, improved cancer care facilities in developing nations , and government emphasis on funding in advanced radiotherapy devices are further contributing towards the rapid growth  of the market. Moreover,  market players expanding their  distribution channel across emerging countries are likely enhance the accessibility of  advanced radiotherapy treatment among cancer patients

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However, the dearth of skilled radiotherapist & oncologist, lack of adequate healthcare infrastructure in emerging countries , are likely to  restrain the growth of this market during the forecast period. Also excessive cost of radiotherapy devices is likely to become financial barriers in the adoption of advanced radiotherapy technologies among end users in low resource economies.

As of 2022, the key players operating in the global radiotherapy system market are Siemens Healthcare GmbH (Germany), Varian Medical Systems, Inc. (US), Elekta (Sweden), Accuray Incorporated (US), IBA Worldwide (Belgium), and ViewRay, Inc. (US), among others.

Siemens Healthcare GmbH (Germany)

In 2022, Siemens Healthineers AG became the leading player in the radiotherapy  market after the successful acquisition of Varian Medical Systems, Inc. (US) in April 2021. To expand its geographical footprint, the company emphasizes both organic and inorganic growth strategies. A strong focus on the expansion of R&D activities in the areas of artificial intelligence (AI), robotics, and sensing technology,  has enabled the company to introduce novel products. Varian medical systems, Inc., under Siemens Healthineers, has introduced and received regulatory approvals for the ProBeam proton therapy system, ProBeam 360 with multi-room configuration, and Halcyon system.

Siemens Healthineers AG, through Varian Medical Systems, Inc., has also entered into several agreements, partnerships, collaborations, and contracts during the last three years to enhance its market presence. These deals have helped the company strengthen its position in the global automated radiotherapy systems market.

Elekta (Sweden)

In 2022, Elekta will be another leading players in the radiotherapy market, including products and services. The company has a strong brand presence in North America, Europe, and Asia(especially in China, India, and East Asia. Elekta has established its direct presence in the Philippines and Indonesia to gain a larger market share in the Asian market. The company also has an established custom services support setup, which helps it strengthen customer relationships and its presence in the automated radiotherapy systems market.

Elekta provides its radiotherapy products to more than 6,000 hospitals and cancer research institutes worldwide, and the company has installed a base of 7,150 radiotherapy devices, of which about 5,250  were LINAC systems by the end of 2022. The demand for Elekta’s products is high among end users owing to their high quality and strong brand image.

Related Reports:

Radiotherapy Market by Type (Product, Service), Technology(MRI LINAC, Stereotactic, Particle Therapy, Cobalt-60 Teletherapy), Procedure (IMRT, IGRT, 3D-CRT, LDR, HDR), Application (Prostate, Breast, Lung), End User (Hospital) - Global Forecast to 2028

Mr. Aashish Mehra
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Radiotherapy Market Size,  Share & Growth Report
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