Image-Guided Radiation Therapy Market to Reach $3.3 Billion, Globally, by 2033 at 5.7% CAGR: Allied Market Research

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Aug 13, 2024, 06:02 ET

The global image-guided radiation therapy market is experiencing growth due to several factors such as increase in prevalence of cancer, technological advancements in imaging modalities, and growth in trend towards personalized medicine.

WILMINGTON, Del., Aug. 13, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Image-Guided Radiation Therapy Market by Product (4D RT, LINAC, MRI-guided Radiotherapy, Portal Imaging and CT Scanning), Procedure (IMRT (intensity modulation radiation therapy) , Stereotactic Therapy, Particle Therapy, Others), and End User (Hospitals, Independent Radiotherapy Centers and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the image-guided radiation therapy market was valued at $1.9 billion in 2023, and is estimated to reach $3.3 billion by 2033, growing at a CAGR of 5.7% from 2024 to 2033.

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Prime determinants of growth

Image-guided radiation therapy (IGRT) is experiencing significant growth due to several key drivers such as technological advancements in imaging modalities such as MRI, CT, and PET have greatly enhanced the precision and accuracy of radiation delivery, allowing for more targeted treatment of tumors while minimizing damage to surrounding healthy tissue. For instance, the integration of MRI-guided radiation therapy systems such as the ViewRay MRIdian system enables real-time visualization of tumors during treatment, leading to improved outcomes.

In addition, the rising incidence of cancer globally, coupled with the increasing demand for personalized medicine, has fueled the adoption of IGRT as a preferred treatment modality. With the ability to tailor radiation therapy to individual patient anatomy and tumor characteristics, IGRT offers enhanced efficacy and reduced side effects. Lastly, favorable reimbursement policies and government initiatives aimed at promoting advanced cancer treatment technologies have further stimulated market growth by facilitating accessibility to IGRT systems for both healthcare providers and patients. For instance, reimbursement policies in countries like the U.S. incentivize the adoption of IGRT by covering a significant portion of treatment costs, thereby encouraging investment in this technology by healthcare facilities. Overall, these drivers are propelling the growth of the IGRT market during the forecast period.

Report coverage & details:

Report Coverage	Details
Forecast Period	2024–2033
Base Year	2023
Market Size in 2023	$1.8 Billion
Market Size in 2035	$3.3 Billion
CAGR	5.70 %
No. of Pages in Report	260
Segments Covered	Product, Procedure, End User and Region.
Drivers	Favorable Reimbursement Policies
	Increasing Prevalence of Cancer
	Technological Advancements in Imaging Modalities
Opportunities	Continued research and development to improve IGRT efficacy and patient outcomes
	Growth opportunities in emerging economies
Restraint	High cost associated with advanced imaging modalities
	Stringent regulatory requirements for product approval

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Segment Highlights

Widespread Application of Linear Accelerators (LINAC) in Treating a Variety of Cancers

Linear Accelerators (LINAC) remain one of the largest and most significant segments, primarily due to their widespread application in treating a variety of cancers. LINAC's ability to deliver high-energy x-rays or electrons with precision makes it a cornerstone in both conventional and advanced radiotherapy techniques. The segment is further driven by continuous technological advancements, including the integration of real-time imaging, which enhances treatment accuracy and patient outcomes.

4D Radiotherapy (4D RT) represents a significant leap in radiotherapy by incorporating the dimension of time into treatment planning and delivery. This segment is driven by its capability to account for tumor motion due to breathing or other bodily movements, thereby improving the precision of radiation delivery. As a result, 4D RT reduces damage to surrounding healthy tissues, which is a critical factor in patient recovery and quality of life post-treatment.

MRI-guided radiotherapy is another rapidly growing segment, driven by its superior soft tissue imaging capabilities. The integration of MRI with radiotherapy allows for real-time visualization of tumors and surrounding tissues, facilitating more accurate targeting and adaptation of treatment plans. This technology is particularly beneficial for treating cancers located near or within soft tissues, such as the brain, liver, and prostate, where precision is paramount.

Precision and Effectiveness of IMRT in Targeting Tumors

IMRT driven by its precision and effectiveness in targeting tumors while sparing surrounding healthy tissues. This advanced technique allows for the modulation of radiation doses to conform to the three-dimensional shape of the tumor, resulting in fewer side effects and improved patient outcomes. The increasing prevalence of cancer and the rising demand for minimally invasive treatment options further bolster the growth of the IMRT segment.

Stereotactic therapy, another significant segment, is gaining traction due to its ability to deliver high doses of radiation with pinpoint accuracy over a few sessions. This method is particularly beneficial for treating small to medium-sized tumors in sensitive areas such as the brain, spine, and lungs. The technological advancements in imaging and treatment planning systems enhance the effectiveness of stereotactic therapy, making it a preferred choice for patients and healthcare providers alike.

Particle therapy, which includes proton and carbon ion therapy, represents a growing segment due to its superior precision and reduced side effects compared to conventional radiation therapies. Proton therapy, in particular, is noted for its ability to deliver high doses of radiation to tumors while minimizing damage to surrounding tissues. The high initial investment and operational costs are offset by the clinical benefits and increasing adoption of particle therapy centers worldwide.

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Regional Outlook

North America to maintain its dominance by 2033

North America held the highest market share in terms of revenue in 2023, owing to rise in prevalence of chronic disease cases, presence of key players offering image radiation therapy products, ease of availability, and developed healthcare infrastructure drive the growth of the market. However, emerging countries are experiencing a surge in healthcare spending as economies develop and populations increase. This increased investment in healthcare infrastructure, technology, and services creates a conducive environment for the adoption of image-guided radiation therapy devices.

Key Players:

Varian Medical Systems Inc.
Elekta AB
Accuray Incorporated
ViewRay Inc.
Siemens Healthineers AG
Hitachi Ltd.
Brainlab AG
Mevion Medical Systems Inc.
C-RAD AB
Sumitomo Heavy Industries Ltd.

The report provides a detailed analysis of these key players in the global image-guided radiation therapy market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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