Robust healthcare infrastructure, rising cancer rates, tech innovations, and supportive policies drive Image-Guided Radiotherapy market growth. Ongoing research and regulatory clarity reinforce its trajectory, countered by competition from alternative radiotherapeutic techniques.
NEWARK, Del, Feb. 29, 2024 (GLOBE NEWSWIRE) — The global image-guided radiotherapy market size is poised for significant growth, surpassing US$ 1.9 billion in 2024. The demand for image-guided radiotherapy is expected to witness a robust CAGR of 14.7% from 2024 to 2034. By 2034, the sales revenue of image-guided radiotherapy is anticipated to achieve a valuation of US$ 7.4 billion.
Strong healthcare infrastructure, rising cancer rates, favorable reimbursement policies, technological advancements, ongoing research projects, clear regulatory frameworks, the increasing use of minimally invasive procedures, and major image-guided radiotherapy vendors are the synergistic factors propelling the market growth. Significant image-guided radiotherapy market growth has resulted from the amalgamation of forces.
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This increasing trend is expected to be maintained by ongoing technology developments, increased focus on non-invasive cancer treatments, and a supportive healthcare environment. Intensity modulation radiation treatment (IMRT), automated radiation therapy systems, and other radiotherapeutic techniques are competing options that impede the expansion of the image-guided radiotherapy market.
Regional Outlook
- Owing to a high patient population and rising healthcare costs, the United States and Canada have a prominent share of the global image-guided radiotherapy market.
- Since there are more advanced treatment facilities, qualified medical experts, and government funding for research and development in Europe, the IGRT market is anticipated to rise significantly over the forecast period.
- As new treatment options are available, cancer becomes prevalent, and people are growing increasingly aware of it, Asia Pacific is experiencing the most rapid growth in the image-guided radiation therapy market.
“Growing cancer cases and technological improvements bolstered the image-guided radiation therapy (IGRT) market. The image guided radiotherapy market is expanding because of the growing need for customized and accurate treatment, and the sector is developing due to improvements in imaging modalities.”, says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways in the Image-guided Radiotherapy Market:
- South Korea image-guided radiotherapy industry is anticipated to boost at a CAGR of 16.6% between 2024 and 2034.
- The United Kingdom IGRT market is envisioned to develop at a CAGR of 15.7% from 2024 to 2034.
- Japan image-guided radiation therapy market is likely to exhibit a CAGR of 15.5% through 2034.
- China image-guided radiotherapy (IGRT) market are expected to surge at a CAGR of 15.1% through 2034.
- The United States image-guided radiation therapy (IGRT) market is anticipated to evolve at a CAGR of 14.9% through 2034.
- The soft-tissue imaging sector is leading the type category and is expected to develop at a CAGR of 14.5% from 2024 to 2034.
- The radiation-based segment controlling the technology category is envisioned to thrive at a CAGR of 14.1% between 2024 and 2034.
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Competitive Landscape from the Image-guided Radiotherapy Market:
Technological improvements and the growing need for accurate cancer treatment solutions are pushing fierce competition in the image-guided radiography market. Major image-guided radiotherapy vendors are involved in strategic alliances, product innovations, and acquisitions to obtain a competitive edge.
Some factors that affect image-guided radiotherapy market dynamics are changing healthcare infrastructure, reimbursement scenarios, and regulatory rules. The competitive environment shapes the equilibrium between established manufacturers and growing image-guided radiotherapy providers vying for market share.
Top Vital Image Guided Radiotherapy Providers:
- ViewRay
- General Electric Company
- Hitachi, Ltd.
- Siemens AG
- Koninklijke Philips N.V.
Recent Developments in the Image-guided Radiotherapy Market:
- Philips expanded its line of mobile C-arms in May 2023 by introducing Zenition 10, which improved its medical imaging capabilities. Philips’ dedication to developing healthcare technology for better patient care and diagnosis is shown in this expansion.
- To improve patient comfort, treatment evaluation, and diagnostic accuracy, GE HealthCare utilized AIR Technologies in 2023 to advance PET/MR capabilities.
- As of 2023, GE HealthCare offers its customers two of the most popular macrocyclic compounds: Pixxoscan (gadobutrol) and Clariscan (gadoteric acid). This launch broadens the company’s range of magnetic resonance imaging (MRI) contrast agents.
Image-guided Radiotherapy Market Key Segments
By Type:
- Soft-Tissue Imaging
- Lung Mri
- Simplifying Cardiac Mri
- Simplifying Mri-Conditional Implant Scans
- Silent Mri Scanning
By Technology:
- Radiation-Based
- Non-Radiation Based Systems
By Devices:
- X-Ray Computed Tomography (Ct)
- Magnetic Resonance Imaging (Mri)
- Positron Emission Tomography
By End Users:
- Hospitals
- Smart Cancer Centers
- Research Institutes
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Authored by:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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Radiographic Film Processor Market is anticipated to record a CAGR of 5% during the forecast period, up from US$ 787.9 Mn in 2022 to reach a valuation of US$ 1283.41 Mn by 2032.
Radio Frequency Beauty Equipment Market share is projected to be US$ 1,947.8 million by 2033. Radio frequency beauty equipment suppliers expect the market to expand at a CAGR of 17.8% through 2033. The present valuation of the market is US$ 377.7 million in 2023.
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Originally published at https://www.einpresswire.com/article/692295414/emergence-of-hybrid-imaging-techniques-strengthens-the-future-of-image-guided-radiotherapy-image-guided-radiotherapy-market-is-likely-to-register-a
