According to the Global Cancer Observatory (GLOBOCAN), 2020 saw a total of 19.3 million cancer cases and 10 million cancer deaths worldwide. The International Agency for Research on Cancer (IARC) states that globally, 1 in 5 people are affected by cancer during their lifetime, and 1 in 11 women and 1 in 8 men die of it. As per research, socio-economic factors and aging are the prime causes of cancer. Owing to this reason, the usage of radiotherapy is expected to increase in the coming years.
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The type segment of the radiotherapy market is categorized into external beam, internal beam, and systemic. Amongst these, the external beam category is expected to generate the highest revenue over the forecast period. It can be attributed to the rising prevalence of cancer and escalating research activities across the world. External-beam is the most commonly used types of radiation therapy, wherein tumors can be destroyed by projecting radiation from a machine outside the body.
Radiotherapy is primarily used in hospitals as they are the initial point of contact for the diagnosis and treatment of diseases. These healthcare facilities offer the best-possible services due to the presence of trained healthcare professionals and technologically advanced medical devices. Moreover, the increasing cases of cancer, booming geriatric population, and growing healthcare expenditure will lead to the largescale adoption of radiotherapy devices in hospitals. In addition to hospitals, cancer research institutes and independent radiotherapy centers deploy radiotherapy devices to develop new technologies and diagnose tumors, respectively.
The Asia-Pacific (APAC) radiotherapy market will demonstrate the fastest growth during the forecast period, driven by the improving healthcare infrastructure, widespread burden of cancer, and rising investments by private and public organizations. According to GLOBOCAN, Japan is expected to record 3.5 million cancer cases in 2025. Similarly, the American Institute of Cancer Research states the low- and middle-income countries (LMICs), such as India and China, will account for the highest number of cancer cases by 2030.
Thus, the surging number of cancer patients and technological developments will increase the adoption of radiotherapy equipment in the foreseeable future.