The global single dose radiotherapy services market is on a trajectory of substantial growth, with projections indicating a worth of US$ 16 billion by 2033, compared to US$ 7.88 billion in 2023. This remarkable expansion, expected to occur at a Compound Annual Growth Rate (CAGR) of 7.3%, underscores the increasing demand for advanced cancer treatment modalities worldwide.
Several factors are driving this exponential growth within the industry. Firstly, there is a surge in the incidence rate of cancer, necessitating innovative and effective treatment solutions. Additionally, significant advancements in radiotherapy technologies have revolutionized cancer treatment, making it more precise and efficient. Moreover, heightened public awareness regarding the benefits of radiotherapy in cancer management has contributed to increased acceptance and utilization of these services.
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The escalating healthcare costs further underline the significance of single dose radiotherapy services, offering cost-effective and targeted treatment options. Additionally, the growing utilization of particle therapy in cancer treatment, alongside robust investments in cancer research by both public and private sectors, presents promising opportunities for market expansion in the coming years.
“This surge in the global single dose radiotherapy services industry reflects a paradigm shift in cancer treatment approaches,” remarked Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.). “We anticipate continued growth as we strive to innovate and deliver cutting-edge solutions to meet the evolving needs of patients and healthcare providers worldwide.”
The projected growth in the single dose radiotherapy services industry signifies a pivotal milestone in the fight against cancer, emphasizing the importance of collaboration among stakeholders to ensure accessible and effective cancer care for all.
Key Takeaways Single Dose Radiotherapy Services Industry:
- North America is projected to lead the market while growing with a CAGR of 7.1% during the forecast period.
- The market in India is projected to witness a CAGR of 7.4% during the forecast period.
- The market in China is expected to grow with a CAGR of 7.5% during the forecast period.
- By therapy, external beam radiotherapy is projected to lead the segment and is estimated to grow with a CAGR of 7.9% during the forecast period.
- By, indication, prostate cancer segment is expected to grow with a CAGR of 8% throughout the forecast period.
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Competitive Landscape Single Dose Radiotherapy Services Industry:
The single dose radiotherapy services industry is highly competitive, with several key industry players investing heavily in the production of these services.
- Accuray Incorporated
- Varian Medical Systems, Inc.
- Elekta AB
- ViewRay Inc.
- IBA Worldwide
- Alliance Oncology
- GenesisCare
- Hitachi, Ltd.
- RaySearch Laboratories AB
- Provision Healthcare
Some Recent Developments In The Market Are:
- In June 2021, Elekta and Philips formed a strategic partnership agreement to advance personalized cancer care by leveraging precision solutions.
- In 2020, Elekta AB expanded its product portfolio and generated significant revenue by introducing the Leksell Gamma Knife, an advanced treatment optimizer for intracranial stereotactic radiosurgery.
- Accuray Incorporated launched the CyberKnife S7 System in June 2020, offering advanced precision and real-time radiation delivery capabilities.
- RifleXion Medical demonstrated the efficacy of biology-guided radiation (BgRT) for all cancer stages in June 2022.
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Single Dose Radiotherapy Services Industry by Category:
Indication:
- Breast Cancer
- Prostate Cancer
Therapy:
- External Beam Radiotherapy
- Internal Beam Radiotherapy
Service Provider:
- Hospitals
- Radiotherapy Centers
- Specialized Cancer Institutes
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- The Middle East and Africa (MEA)
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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