Radiotherapy Market Size, Share, Growth Analysis, By Product & Service(Products, Software & Services), By Technology(External Beam Radiotherapy, Linacs [Conventional Linacs, Stereotactic Advanced Electron/Cobalt-60 Linacs (Cyberknife, Gamma Knife), By Application(External Beam Radiotherapy Applications [Prostate Cancer, Breast Cancer, Lung Cancer, Head & Neck Cancer), By Procedure(External Beam Radiotherapy [IMRT, IGRT, 3D Conformal Radiotherapy, SRT), By End User(Hospitals, Independent Radiotherapy Centers), By Region - Industry Forecast 2024-2031

The radiotherapy industry in North America would record significant growth in the projection period. The increase in cases and prevalence of cancers, presence of leading companies in the region, and innovative products are among the key factors driving the market growth. According to recent data released in January 2023 by the American Cancer Society, breast cancer is one of the most common cancers found in females in the United States. It constitutes 30% of all the new cases of malignancies among women in the country every year, which means it accounts for 1 in every 3 cases. The same source further stated that by the end of 2023, there will be a diagnosis of almost 297,790 new cases of invasive breast cancer, while approximately 55,720 new cases of ductal carcinoma in situ (DCIS) will emerge. It was assumed that the demand for the country's radiation will be triggered by the prevalence of cancer. As a result of the high incidence and prevalence of cancer in the country, it needs advanced radiation treatments, which also becomes a prime growth factor for the regional market. 

However, Asia-Pacific is expected to achieve the highest CAGR of 7.4% during the radiotherapy market forecast period. Several significant factors have resulted in this growth, including a considerable rise in health expenditure that the governments had undertaken to up-grade the health facilities and provide access to state-of-the-art treatment options. Furthermore, there is growing knowledge about the treatment of cancer and efficacy of radiation that has added much value to the growth of the market. Moreover, the number of oncology cases originating from the vast population base of countries like China and India is also growing. To begin with, there is a growing medical need in the region that has only increased demand for effective treatment options.