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Global Market for Radiation Therapy Equipment to Reach $6.8 Billion by 2018

Date : 12/07/2012 @ 3:14AM
Source : PR Newswire (US)

Global Market for Radiation Therapy Equipment to Reach $6.8 Billion by 2018

Global Market for Radiation Therapy Equipment to Reach $6.8 Billion by 2018

FARMINGTON, Conn., Dec. 6, 2012 /PRNewswire-iReach/ -- The incidence of cancer is rising worldwide with over 13 million cases recorded in the year 2008 alone. Worldwide, the rate of growth of cancer is expected to rise further and reach 17 million by 2030. Market growth in the US is driven by an increasing number of cancer cases, a favorable reimbursement policy pertaining to radiation therapy for cancer, as well as rapid acceptance of advanced and novel treatment procedures. In the US, about half the number of cancer patients undergo radiation therapy, a percentage that is expected to rise further. Highly accurate and targeted radiation therapy has the potential to replace surgery, and as a result increase its adoption. Much of the future growth of radiotherapy depends upon the availability of more effective technologies.

(Photo: http://photos.prnewswire.com/prnh/20121206/CG25662)

Global Information Inc (GII) presents two significant market research reports covering the global radiation therapy and nuclear medicine reports from our premium research partner Global Industry Analysts, Inc.

Radiation Therapy Equipment

The global market for radiation therapy equipment is projected to reach $6.8 billion by 2018. The global Radiation Therapy Equipment market is dominated by a handful of global players, owing to the high level of complexity in the systems. As such, the global players dominate sales in all the regional markets. Moreover, all the players in the global market are based in North America or Europe. Major players in the global marketplace include Accuray Incorporated, Elekta AB, Nordion, Inc., Philips Healthcare, Siemens Healthcare, and Varian Medical Systems Inc.

Emerging markets such as Asia-Pacific, Eastern Europe, and Latin America hold vast opportunities for market participants. Growth in these markets is expected to arise from increased replacements and emergence of additional applications for the equipment, while the market in developed countries is relatively mature. Growth in such markets would be driven by accurate conformal technologies and to a certain extent from replacement demand. Over the past few years, population of cancer patients in developed countries has reduced significantly, thereby effectively slowing annual growth. Early diagnosis, improved treatment, and advanced technology have increased the survival rate of cancer patients. However, the radiation equipment market faces challenges in the form of pressures due to changing reimbursements, and volatility related to sales of capital equipment.

Linear Accelerators represents the largest Radiation Therapy Equipment segment. On the other hand, Treatment Planning Systems presents the highest growth opportunities. Image-guided radiation therapy is a major trend in the radiotherapy market as the technology enables identification of the precise position of a tumor prior to radiation delivery, and minimizes risk of damaging healthy tissue during treatment. Demand for IGRT machines is high as oncologists are seeking image-guidance functionality. Another trend in the radiation therapy market is advanced motion detection, which detects any shift in position of a tumor located near moving organs, such as the lungs and heart.

An Executive Summary for this report and free sample pages from the full document are available at http://www.giiresearch.com/report/go138753-radiation-thera-equip.html

Nuclear Medicine

The global market for nuclear medicine is forecast to reach $2.46 billion by the year 2018.

Nuclear medicine encompasses therapeutic and diagnostic procedures, which are economical, safe and painless techniques. Following years of strong growth, the global nuclear medicine market entered into a tumultuous phase beginning 2008. The global economic downturn on one side and changes in reimbursement and insurance requirements in developed markets such as the US on the other, have resulted in market declines that lasted until 2010. Other factors such as saturated Western markets, restrictions imposed by the Governments in certain high potential countries such as China, and low rates of reimbursement have weighed down market growth and resulted in a decline in the sales of imaging equipment.

The nuclear medicine market is fairly concentrated. A handful of the most influential medical device companies control a majority share in the worldwide nuclear medicine market. These companies operate large sales force, and have significant installed base and strong research and development activities. Key players profiled in the report include Digirad Corporation, GE Healthcare Plc, Philips Healthcare Inc., Positron Corporation, Siemens, and Toshiba Medical Systems Corporation, among others.

An Executive Summary for this report and free sample pages from the full document are available at http://www.giiresearch.com/report/go138655-nuclear-medicine.html

About Global Information Inc. Global Information (GII) (http://www.giiresearch.com) is an information service company partnering with over 300 research companies around the world. Global Information has been in the business of distributing technical and market research for more than 25 years. Expanded from its original headquarters in Japan, Global Information now has offices in Korea, Taiwan, Singapore, Europe and the United States.

Media Contact: Yuko Ueki Global Information, Inc., 860-674-8796, US-marketing@gii.co.jp

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

 

SOURCE Global Information, Inc.

Copyright 2012 PR Newswire



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