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Oncology Homepage

Baptist Hospital's Miami Cancer Institute awarded cancer research and education grant by IBA

ASCO expands TAPUR study enrollment after promising initial treatment outcomes seen

Delta4 Discover transmission detector approved for use by Varian Medical Systems on TrueBeam and Clinac systems

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United States proton therapy market is expected to reach nearly $1 billion, potentially $7 billion by 2025

Critical prostate cancer research funding saved

iCAD's Xoft clinical research selected as 'Best of ASTRO 2017'

Biop Medical launches cervical cancer diagnosis tech at Medica

Leading Belgian hospital OLVZ selects RayStation

North America radiotherapy devices market to reach over $3500 million by 2027

Press releases may be edited for formatting or style
NEW YORK, Sept. 7, 2017 /PRNewswire/ -- The global radiotherapy devices market is scattered across major geographies and seems to be witnessing relatively good growth across the key regional markets. An increasing expenditure on healthcare and sudden rise in the occurrence of cancer across the globe are the main drivers boosting revenue growth of the radiotherapy devices market at a global level. Further, governments of several countries are allocating a large share of their healthcare budget towards cancer research and bolstering this by implementing several awareness campaigns at a national level. These ancillary drivers are also fueling revenue growth of the global radiotherapy devices market to a significant extent.

The global market has several opportunities on offer for key players in the form of increasing government support for structured cancer R&D initiatives and a provision for up gradation of existing equipment and treatment capabilities based on technological advancements. The radiotherapy devices market is strictly governed by regulatory approvals that apply to the concerned regional markets such as the U.S. FDA Medical Device Regulatory Approval Process and the European Medicines Agency Regulatory Approval for Medical Devices; making it the most structured and well-scrutinised market for medical devices poised for good growth owing to all the factors listed above.

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A US$ 4 Bn market, the global radiotherapy devices market will be distributed almost evenly across the top regional markets

In terms of market share, North America takes the cake in the global radiotherapy devices market, with an estimated 34% market share through the forecast period. Western Europe will occupy the second place, moving from an estimated 29% value share in 2017 to a little over 30% by the end of the forecast period. The Western Europe radiotherapy devices market will witness an increase of 93 basis points in its market share over the 10 year period while North America stands to lose 57 basis points in 2027 over 2017. High income nations especially in Northern-Western Europe are well-served with radiotherapy resources, which could probably explain the relatively high market share of Western Europe as compared to other regions. Countries in some of the developing economies still face shortages of both equipment and critical machinery capable of delivering high precision conformal treatments. Hence, the market share of regional markets such as Latin America and the Middle East & Africa are way low as compared to the share held by the developed economies such as North America and Western Europe.
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