San Jose, CA (Vocus) October 27, 2010
Incidence of cancer is rising worldwide, with more than 11.2 million cases recorded in the year 2007. The incidence of cancer cases is expected to increase further, driven by rising life expectancy rates and aging global population. This is expected to increase the demand for radiation therapy globally. Furthermore, technological advancements are driving the market for radiation therapy equipment, owing to the development of sophisticated screening methods that facilitate early detection of cancer. In the US, about half of the cancer patients undergo radiation therapy, a percentage that is expected to rise further in future. Highly accurate and targeted radiation therapy has the potential to replace surgery, driving the demand for radiation therapy equipment. Much of the future growth depends upon the availability of more effective technologies.
The US and Europe represent major markets for radiation therapy equipment globally, as stated by the new market research report on Radiation Therapy Equipment. The US leads the global radiation therapy market in terms of technological adoption. Growth in the demand for IMRT technology in the US market, which witnessed rapid growth until a few years back, has now tempered, while the technology continues to witness significant growth in Asia and Europe. IGRT, on the other hand, is witnessing outstanding growth in the US, while its adoption in other markets lags behind the US. Proton Therapy presently is the most advanced radiation therapy in the market.
Emerging markets such as Asia-Pacific, Eastern Europe, and Latin America hold vast growth potential. Rising incidence of cancer cases in developing countries is attributed to factors such as increasing life expectancy rates, unhygienic living environment, and changing lifestyles of population. Increasing incidence of cancer cases, growing demand for advanced medical treatment procedures, and sophistication of radiation therapy methods are expected to propel the demand for radiation therapy equipment in the Asian market. Demand for radiation therapy equipment in Asia-Pacific is projected to increase at a compounded annual growth rate of 8.0% during the analysis period.
Segment-wise, Linear Accelerators represents the largest segment. Linear accelerators are increasingly replacing conventional type of radiotherapy equipment, such as cobalt-60. Demand for simulators and treatment-planning computers is also on the rise, as these systems allow physicians to apply high doses of curative radiation, while diminishing short-term and long-term side effects. The best form of treatment for cancer, however, involves the application of a combination of chemotherapy, radiation therapy, and surgery. Treatment Planning Systems represents the fastest growing segment during the analysis period.
Major players profiled in the report include Varian Medical Systems, Siemens, Philips, Elekta AB, MDS Nordion, Nucletron B.V., Philips Healthcare, Siemens Healthcare, TomoTherapy Incorporated, and Varian Medical Systems.
The research report titled “Radiation Therapy Equipment: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the radiation therapy equipment markets, impact of recession on the global and regional market, current market trends, key growth drivers, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for radiation therapy equipment market for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, and Latin America. Key segments analyzed include Linear Accelerators, Treatment Planning Systems, and Radiation Therapy Simulators. A seven-year (2000-2006) historic analysis is provided for additional perspective.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Radiation_Therapy_Equipment_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Web Site http://www.StrategyR.com/
# # #