Radiation Therapy Equipment: A Global Strategic Business Report
San Jose, California (PRWEB) December 03, 2013
Follow us on LinkedIn – Radiation therapy involves the use of high-energy radioactive particles or electromagnetic waves to destroy cancer cells, shrink tumors and repair physiological abnormalities. Growth in the radiation therapy equipment market is primarily driven by rising incidence of cancer attributable to aging population, lifestyle changes, dietary habits, and high smoking rates. Growth is also fueled by technological improvements in molecular and biological imaging techniques and tumor markers which allow radiotherapy to be increasingly personalized.
Over the past few decades, radiotherapy has witnessed a paradigm shift due to significant advancements in medical technologies. The gradual transition from traditional technologies to highly complex, resource intensive treatment procedures such as 4D imaging, intensity-modulated radiotherapy (IMRT), proton therapy, and stereotactic body radiation therapy is facilitating clinicians in improving the accuracy and precision of radiotherapy. Adaptive Radiation Therapy (ART) is gaining significance as one of the most effective radiation therapy methods. ART enables changes in patient treatment plans during the course of radiotherapy to accommodate for temporal changes in tumor cells. Imaging is increasingly playing an important role in planning and delivering therapeutic radiation in a bid to reduce damage to normal tissues, and lower the frequency of radiation exposure by optimizing radiation doses. The trend is giving way to an emerging discipline of ‘theragnostics’ involving direct integration of diagnostic modalities in radiotherapy planning process in accordance to the patient’s response to chemotherapy and radiation treatment.
Linear Accelerators represents the largest segment of the radiotherapy equipment market. As developed economies have the highest penetration of clinical accelerators, large number of obsolete and aging units is expected to enhance replacement sales. Demand is anticipated particularly for linear accelerators that feature additional clinical functionality, which enhance the effectiveness and efficiency of cancer treatment. 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.
With global healthcare systems under constant pressure to increase efficiencies with limited resources, market for oncology information systems (OIS), which allow multidisciplinary connectivity of radiation oncology patient records, is also witnessing strong growth. Advanced software also enables a physician to run algorithms on dose constraints and standardize dosage constraints in terms of tumor types as well as tumor biology. Demand for Treatment Planning Systems, is also expected to rise with technological advances enabling a physician to optimize and visualize all parameters to generate the most appropriate treatment delivery for patients.
As stated by the new market research report on Radiation Therapy Equipment, the United States is the largest market worldwide. Growth in the country is driven by aging population vulnerable to cancer, increasing preference for non-surgical options, and faster adoption of novel therapies. Registering a CAGR of 13.1% over the analysis period, Asia-Pacific is forecast to emerge as the fastest growing market led by growing population, rising incidences of cancer, rapid urbanization, increasing healthcare spends, and increased investments in the establishment of facilities for cancer treatment.
Key players in the market include Accuray Incorporated, BrainLab, Elekta AB, Hitachi America, IBA Group, Mitsubishi Electric Corporation, Nucletron B.V., Nordion Inc., Philips Healthcare, Siemens Healthcare and Varian Medical Systems among others.
The research report titled "Radiation Therapy Equipment: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US dollars for geographic markets such as the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), the Middle East & Africa, and Latin America.
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 leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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