Image Guided Radiotherapy Market is expected to reach US$ 5,650.72 million by 2030

Publisher: The Insight Partners

Breast Cancer Segment to Lead Global Image Guided Radiotherapy Market During 2022–2030

According to our new research study on “Image Guided Radiotherapy Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, Imaging Type, and End User” the market is expected to grow from US$ 1,814.25 million in 2022 and is projected to reach US$ 5,650.72 million by 2030; it is estimated to register a CAGR of 15.3% during 2022–2030. The growth of the market is accredited to the rising prevalence of cancer worldwide and the introduction of technologically advanced systems. Cancer screening programs and the implementation of standard guidelines are expected to provide growth opportunities for the image-guided radiotherapy market.

Radiation therapy is a local treatment used to treat cancer cells with ionizing radiation. Image-guided radiation therapy is the method of using periodic two- and three-dimensional imaging during radiation treatment to guide radiation therapy based on the image coordinates of the actual radiation treatment plan. Image-guided radiation therapy can help make surgeries less invasive and precise, resulting in shorter hospital stays and fewer procedures. Image-guided radiation therapy is the most advanced technology for tracking cancer and sparing normal tissue. The technology is one of the most efficient types of radiation therapy, reducing the radiation dose to normal tissue, reducing side effects, and improving outcomes.

Image Guided Radiotherapy Market, by Region, 2022 (%)

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Source: The Insight Partners Analysis

Based on application, the global image-guided radiotherapy market is segmented into breast cancer, lung cancer, gastrointestinal cancer, prostate cancer, gynaecological cancer, head and neck cancer, and others. The breast cancer segment held the largest market share in 2022. The lung cancer segment is anticipated to register the highest CAGR of 16.3% during 2022–2030. The increasing incidence of breast cancer worldwide is a key driver for the image-guided radiotherapy market. The inherent precision of image-guided radiotherapy reduces the need for frequent and uncomfortable repositioning of patients during treatment sessions. This is attributed to increased patient comfort, which is particularly relevant for those undergoing breast cancer treatment. Image-guided radiotherapy allows for precise localization of the tumor and enables dynamic adjustments during treatment to ensure accurate radiation delivery to the tumor site. This ability minimizes the risk of adverse impact on adjacent healthy tissues. As a result, this capability significantly contributes to strengthening the importance, attractiveness, and value proposition of image-guided radiotherapy in the market.

By type, the image guided radiotherapy market is segmented into product and services. The product segment held the largest market share in 2022. The services segment is anticipated to register the highest CAGR of 15.5% during 2022–2030. The Increasing awareness about radiation therapy has increased the demand of radiotherapy equipment such as linear accelerators (LINAC) and MRI- LINAC which helps in delivering the therapy to large patient population. Moreover, there has been tremendous growth in oncology centers which has further generated the demand for radiotherapy equipment which in turn driving the product segment and contributing the image guided radiotherapy market growth.

In terms of end user, the global image-guided radiotherapy market is segmented into hospitals, oncology centers, and radiotherapy centers. The hospitals segment held the largest market share in 2022. The oncology centers segment is anticipated to register the highest CAGR of 16.0% during 2022–2030. Hospitals are grappling with a significant influx of cancer patients, increasing the appeal of image-guided radiation therapy. The precision inherent in image-guided radiotherapy, its ability to target the tumor, and its optimized treatment delivery harmonize seamlessly with the need to manage the patient caseload competently. This symbiotic convergence not only optimizes patient-centered care but also increases the market attractiveness of image-guided radiotherapy and establishes it as a core therapeutic modality for healthcare organizations dealing with the complexities of cancer treatment management. The hospital strategically leverages its comprehensive healthcare delivery, state-of-the-art infrastructure, synergistic collaborative environment, and unwavering commitment to patient-centered care to drive adoption. The cumulative effect of these aspects significantly promotes the expansion and increased importance of image-guided radiotherapy in the hospital ecosystem and consequently strengthens the market.

Rising Cancer Screening Programs and Implementation of Standard Guidelines Fuels Opportunity for Image Guided Radiotherapy Market

The growing implementation of preventive healthcare and disease diagnosis programs is creating lucrative opportunities for the radiotherapy market players. For instance, all provinces in Canada have breast cancer screening programs for women aged between 50 and 74. The Provincial Health Services Authority of British Columbia offers a simple and inexpensive breast cancer screening program to a large population base; the program mainly aims toward the early diagnosis of breast cancer. Moreover, in November 2020, the WHO announced the initiation of a strategic program to accelerate the elimination of cervical cancer. In order to achieve the objective, the organization announced three key steps – vaccination, screening, and treatment.

In February 2019, the Indian Cancer Society and AstraZeneca launched a cancer screening program in India. The program will especially focus on screening and detection of cervical, oral, and breast cancer. Such programs are likely to boost cancer detection, which will offer a favourable environment for the adoption of radiotherapy.

Governments and healthcare organizations are focusing on the implementation of strategic guidelines and policies to accelerate market growth. For instance, in March 2021, the International Atomic Energy Agency (IAEA) and the WHO collaborated to issue new guidelines to procure radiotherapy with an aim to improve access to radiotherapy across the world. These new technical guidelines focus on the selection of radiotherapy equipment, its utilization, and quality maintenance by healthcare facilities. The organizations issued these new guidelines to increase the adoption and awareness of radiotherapy in low and middle-income countries. Such guidelines are also projected to serve as a lucrative opportunity for the global radiotherapy market during the forecast period. Therefore, the rising cancer screening programs and implementation of standard guidelines are expected to provide opportunities for the image-guided radiotherapy market expansion.

High Cost of Image-Guided Radiotherapy Treatment to Restrain Image-Guided Radiotherapy Market Growth

The exact cost of radiation therapy depends on the type and number of treatments required. Treating cancer with radiation therapy is costly as it demands very complex equipment and the services of many medical professionals. According to Max Hospitals, the cost of image-guided radiotherapy in India starts from US$ 5,500 while adhering to the highest quality standards.

Owing to the higher capital and staff costs associated with MR-IGRT, image-guided magnetic resonance radiotherapy (MR-IGRT) is more expensive than image-guided cone beam computed tomography radiotherapy (CBCT-IGRT). Overall, the cost-effectiveness of MR-IGRT depends on the number of fractions required and the degree of toxicity of MR-IGRT. Furthermore, while using CT machines, the cost of purchasing and maintaining a diagnostic CT is higher than other imaging modalities, such as diagnostic modalities where the CT scanner is attached to the Linac head or uses planar imaging and the higher cost of treatment room preparation due to the need for a larger room. In addition, possible patient movements during the translation process between the Linac and the CT on rails can also lead to greater uncertainty in the setup, even though the respective distance is minimized.

Another disadvantage of image-guided radiotherapy is that each therapy session lasts longer, almost 40 minutes instead of 20 minutes. However, many experts believe that the average length of an image-guided radiation therapy session will shorten as technology improves. Therefore, the high cost associated with image-guided radiotherapy treatment is hampering the growth of the image-guided radiotherapy market.

ViewRay, GE Healthcare, Hitachi, Ltd.; Siemens AG, Koninklijke Philips N.V.; TOSHIBA CORPORATION, Varian Medical Systems, Inc.; Vision RT Ltd.; Elekta AB, Accuray Incorporated, and HORIBA Group are among the leading image-guided radiotherapy market players.

The image-guided radiotherapy market, by type, is segmented into product and services. The image-guided radiotherapy market, by application, is divided into breast cancer, lung cancer, gastrointestinal cancer, prostate cancer, gynaecological cancer, head and neck cancer, and others. The image-guided radiotherapy market, by imaging type, is divided into magnetic resonance imaging (MRI), positron emission tomography (PET), computed tomography (CT) imaging, and others. The image-guided radiotherapy market, by end user, is categorized into hospitals, oncology centers, and radiotherapy centers. Geographically, the image-guided radiotherapy market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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