Intraoperative Radiation Therapy Market worth USD 66 million : Growing applicati
Posted by Dheeraj Shaha on April 28th, 2021
According to the new market research report “Intraoperative Radiation Therapy Market by Technology (Electron IORT, Brachytherapy), Products & Services (Accelerators, Treatment Planning system, Applicators, Afterloaders, Accessories), Application (Breast, Brain, Lung Cancer) – Global Forecasts to 2025″, published by MarketsandMarkets™, global intraoperative radiation therapy market is projected to reach USD 66 million by 2025 from USD 48 million in 2020, at a CAGR of 6.4% during the forecast period.
The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, fundamental market dynamics, and key player strategies. This study involved the extensive use of both primary and secondary sources.
Major Growth Drivers:
The rising incidence of cancer, technological advancements, and advantages offered by IORT over conventional radiotherapy are the major factors driving the growth of the global intraoperative radiation therapy market.
Expected Revenue Growth:
[159 Pages Report] The global intraoperative radiation therapy market is projected to reach USD 66 million by 2025 from USD 48 million in 2020, at a CAGR of 6.4% during the forecast period.
COVID-19 Impact on the global Intraoperative radiation therapy market
The intraoperative radiation therapy market was significantly impacted by the COVID-19 pandemic. Various screening, diagnostic, and surgical procedures were restricted or postponed at hospitals and cancer treatment centers, which resulted in disruptions in the cancer diagnosis as well as treatment market. The pandemic also impacted the availability of healthcare resources. Major regulatory authorities across the globe, such as the CDC, WHO, MHRA, TGA, and EMA, have identified cancer patients at a greater risk of contracting coronavirus disease than healthy adults.
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Growing global prevalence of cancer
The IORT procedure is associated with various advantages such as targeted radiation, limited treatment time, high precision and radiation control, and minimal radiation exposure of normal tissue. This is especially true for breast cancer, as this mode offers women a choice of breast-sparing treatment (lumpectomy). The increasing prevalence of breast cancer is, therefore, a key factor driving the market growth. The growing prevalence of cancer will increase the adoption of IORT procedures.
By technology, the electron IORT segment is expected to grow at the highest rate during the forecast period
Based on technology, the intraoperative radiation therapy market is segmented into electron IORT and intraoperative brachytherapy. The electron IORT segment is expected to grow at the highest rate in the intraoperative radiation therapy market in 2019. The growth of this segment can be attributed to the wide range of benefits associated with it, including lesser treatment time, better depth of penetration, and optimal dose homogeneity
North America is expected to command the largest share of the Intraoperative radiation therapy market in 2019
North America, comprising the US and Canada, accounted major share of the intraoperative radiation therapy market in 2019. The major factors driving market growth in this region are the easy availability and high adoption of IORT for cancer treatment, the rising incidence of cancer, and significant per capita annual healthcare expenditure in the US and Canada. Furthermore, associations such as the American Society for Radiation Oncology (ASTRO) have advocated the use of low-energy IORT, which has contributed to its increased adoption in North America..
Key Market Players
The major players in the Intraoperative radiation therapy market are ZEISS Group (Germany), iCAD, Inc. (US), Eckert & Ziegler (Germany), Elekta AB (Sweden), GMV Innovating Solutions (Spain), Sensus Healthcare, Inc. (US), IntraOp Medical, Inc. (US), Isoray, Inc. (US), Becton, Dickinson and Company (US), Sordina IORT Technologies (Italy), Varian Medical Systems, Inc. (US), SeeDos Ltd. (UK), IsoAid LLC (US), Ariane Medical Systems Ltd. (UK), Panacea Medical Technologies Pvt. Ltd. (India), Salutaris Medical Devices (US), Brainlab AG (Germany), RaySearch Laboratories (Sweden), REMEDI Co., Ltd. (South Korea), Merit Medical Systems, Inc. (US), among others.
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About the AuthorDheeraj Shaha
Joined: July 3rd, 2019
Articles Posted: 197
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