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

Radiotherapy Market size was valued at USD 6.4 billion in 2022 and is poised to grow from USD 6.73 billion in 2023 to USD 10.01 billion by 2031, growing at a CAGR of 5.10% during the forecast period (2024-2031).

The radiotherapy market outlook discusses several critical variables that have led to a tremendous surge in demand for radiotherapy in cancer treatment over the past few years. As cancer patients have increased tremendously across the globe, demand for potent treatment techniques has also risen. This fact is further supported by the declining population with healthy ages, who are an increasing victim of many types of cancer. Moreover, there is a considerable awareness campaign underway to educate the public on the advantage and efficacy of radiation as treatment. Moreover, there has been an uptrend in the use of modern radiotherapy equipment and technologies. For instance, technology inputs in the high-technology radiotherapy equipment-precision targeting and advanced imaging methods-have provided better safety and efficacy for the treatment, which further attracts patients and doctors. However, the radiotherapy market growth in the use of radiation is not without challenges. The availability of qualified workers who are trained in the latest radiation procedures is critically limited to date. Certain tumor vision issues further complicate the administration and planning of therapies, thus reducing the efficacy of the treatments. On the contrary, massive development prospects lie in these emerging nations, where improved cancer treatment alternatives are made possible by greater access to the infrastructure of health care. The demand for cancer treatment is increasing day by day, and, thus, the radiation market is expected to grow in numerous ways throughout the forecast period.

US Radiotherapy Market is poised to grow at a sustainable CAGR for the next forecast year.