Rising Industrial Growth leading to Greater Demand for Radiotherapy Devices Market

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The global radiotherapy devices market reached a valuation of around US$ 5 Bn in 2020, which amounts to close to 4% share of the overall oncology devices market.

Concerns about the increasing incidence of cancer cases and easy and accurate diagnosis around the world may be the key factors driving the adoption of radiotherapy devices. Technological advances in equipment, e.g. The introduction of artificial intelligence and real time motion tracking may help manufacturers to accept more demands. External beam radiotherapy which reduces the risk of radiation exposure is expected to grow at a decent CAGR during the forecast period.

In June 2020, Accuray launched the CyberKnife S7 System, an innovative motion aggregator device that provides advanced accurate, real-time artificial intelligence powered motion tracking. This radiotherapy equipment provides treatment delivery for the treatment of stereotactic radiosurgery and stereotactic body radiation therapy treatments. The CyberKnife S7 system is a robotic, non-invasive radiation therapy device that treats cancerous and benign tumors as well as neurological disorders throughout the body.

The IntraOP Mobatron is the first mobile, self-shield electron beam linear accelerator machine designed to deliver intraoperative radiation therapy to cancer patients during surgery. The innovation in operating rooms is safe, reliable and portable radiation without the use of costly shielding upgrades. The Mobetron IORT machine can be easily moved between existing operating rooms. Mobatron is successful for breast cancer, pancreatic cancer, colorectal cancer, gynecological cancer, head and neck cancer etc.

In October 2020, Mayo Clinic and Google Health announced the use of artificial intelligence to improve radiation therapy planning for cancer care. Both organizations are building and validating an algorithm that can automate tumors from healthy tissues and organs. With the help of modern technologies, computers calculate the dosage through their algorithms leading to better planning and better outcomes in patient treatment. U-Net is a deep learning algorithm used by Google and the Mayo Clinic to help provide the tiny pixels needed to study scans of tumors.

The global radiotherapy devices market is scattered across key geographies and the key regional markets are witnessing relatively good growth. Rising expenditure on healthcare and sudden rise in the incidence of cancer across the globe are the major factors driving the revenue growth of radiotherapy devices market globally.

In addition, governments of many countries are allocating a substantial portion of their health care budgets to cancer research and promoting it by implementing several awareness campaigns at the national level. These supportive drivers are also driving the revenue growth of the global radiotherapy devices market substantially.

There are many opportunities for key players in the global market in the form of increased government support for structured cancer RD initiatives and provision for upgrading existing equipment and treatment capabilities based on technological advancements.

The radiotherapy devices market is strictly governed by regulatory approvals that apply to relevant regional markets such as the US FDA Medical Device Regulatory Approval Process and the European Medicines Agency Regulatory Approval for Medical Devices; making this the most structured and thoroughly tested market for medical devices poised to grow well due to all the factors listed above.

To know more about radiotherapy devices market, read our report.      

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