North America Radiotherapy Market is expected to reach US$ 8.46 billion by 2031

Product Segment to Contribute Significantly to North America Radiotherapy Market Growth During 2023–2031 

According to our latest study on " North America Radiotherapy Market Forecast to 2031 – Market Analysis – Type, Application, and End User," the market was valued at US$ 3.85 billion in 2023 and is expected to reach US$ 8.46 billion by 2031. Factors such as technological innovation, increased number of cancer patients, etc., contribute to the growing North America radiotherapy market size. However, the adverse effects associated with radiation impede the North America radiotherapy market growth.   

Significant technological revolution in radiotherapy has been witnessed in the last decade. Due to its capabilities, more patients can be cured with greater accuracy, speed, and safety. Radiation therapy is often the preferred treatment for patients suffering from cancer, in addition to conventional cancer treatments such as chemotherapy, biological therapy, and surgery. Radiation therapy might be used following surgery to stop the growth of any remaining cancer cells. Radiopharmaceuticals represent a promising avenue in the next generation of cancer treatment, revolutionizing oncology care with their targeted approach and therapeutic efficacy. In addition, pharmaceutical companies such as Y-mAbs, AstraZeneca, Merck, and Bristol-Myers Squibb are significantly investing in radiopharmaceuticals because of their precision administration and reduced side effects.    

North America Radiotherapy Market, by Geography, 2023 (%)

Source: The Insight Partners Analysis

Radiopharmaceuticals, combined with pharmaceutical agents and radioactive isotopes, deliver precise radiation to tumor sites while minimizing damage to surrounding healthy tissues. Integrating radiopharmaceuticals in cancer treatment leads to a new era of personalized and targeted therapy, optimizing outcomes for cancer patients. With the development of innovative radioisotopes and enhanced imaging techniques, healthcare providers have access to a diverse range of radiopharmaceuticals that can deliver therapeutic radiation doses precisely to cancer cells, leading to improved treatment responses and reduced side effects.

The adoption of radiopharmaceuticals as a cutting-edge technology advancement holds great promise for transforming cancer care by offering more effective treatment options, particularly for patients suffering from advanced or hard-to-treat cancers. The synergy between radiopharmaceuticals and precision medicine opens new possibilities for customized treatment strategies tailored to individual patient profiles, increasing cancer therapies' overall efficacy and success rates. Thus, introducing radiopharmaceuticals in cancer therapy is poised to significantly impact radiotherapy in the coming years, offering novel advancements in technology and treatment modalities for cancer patients. Thus, introducing radiopharmaceuticals will likely bring new North America radiotherapy market trends in the coming years.

Market Segmentation:

The North America radiotherapy market analysis has been carried out by considering the following segments: type, application, and end user. Based on type, the North America radiotherapy market is divided into products and software. The product segment is further segmented into external-beam radiation therapy, internal radiation therapy, and systemic radiotherapy/radiopharmaceuticals. Radiotherapy, also known as radiation therapy, employs radiation (often powerful X-rays) to destroy cancer cells. Radiation therapy can be used either on its own or in conjunction with other medical procedures, such as chemotherapy or surgery. It is one of the most effective cancer treatments, followed by chemotherapy and surgery. The most popular forms of radiation therapy are internal radiation therapy, systemic radiotherapy/radiopharmaceuticals, and external beam radiation therapy (EBRT).

By application, the market is segmented into breast cancer, lung cancer, prostate cancer, colorectal cancer, lymphoma, liver cancer, thyroid cancer, brain cancer, cervical cancer, spine cancer, and others. The breast cancer segment held the largest North America radiotherapy market share in 2023. Breast cancer is the most common cancer among women, and its incidence is increasing worldwide. Lifestyle changes, hormonal imbalances, genetic predisposition, and environmental factors contribute to the rising prevalence of breast cancer. Per the American Cancer Society, approximately 5–10% of all malignancies are caused by genes inherited from parents. Several cancer-predisposition genes have been discovered; for instance, mutations in the inherited cancer predisposition genes BRCA1 and BRCA2 raise the risk of getting certain malignancies, such as breast, ovarian, and prostate cancer. 

Moreover, breast cancer is one of the most common types of cancer in the US. A report published by Breastcancer.org in January 2022 stated that 1 in 8 women across the nation (or ~13%) had invasive breast cancer over their lifetime. According to the same source, 287,850 new incidences of invasive breast cancer—along with 51,400 new cases of non-invasive (in situ) breast cancer—are anticipated to be detected in women in the US in 2022. In the same year, the country recorded ~2,710 additional cases of invasive breast cancer in men. Approximately 1 in 833 men might develop breast cancer in their lives. With the rise in breast cancer cases, there is an increasing need for effective and targeted therapies to improve patient outcomes. This has led to a surge in research and development activities in breast cancer therapeutics.

The North America radiotherapy market, based on end user, is categorized into hospitals, radiation therapy centers, and specialty clinics. The hospitals segment held the largest share of the market in 2023 and it is anticipated to register the highest CAGR during 2023–2031. Hospitals are primary contact points for patients to get their diagnosis and opt for treatment options and alternatives. Available infrastructure in hospitals can provide high-quality care for any medical condition as healthcare professionals can access advanced medical devices. The hospital segment is estimated to hold a considerable market share as most patients in emerging nations and developed countries also prefer to visit hospitals for health-related problems. Further, the increasing number of hospitals, adoption of advanced therapeutic platforms, and growing accessibility of hospitals in emerging nations are estimated to offer lucrative opportunities for the hospital segment growth during the forecast period.

North America Radiotherapy Market, by Geography:

The scope of the North America radiotherapy market report entails the US, Canada, and Mexico. In terms of revenue, the US dominated the North America radiotherapy market share in 2023.   

There are several initiatives by the government and healthcare authorities to encourage the adoption of radiotherapy. Such strategies are likely to have a constructive impact on the US radiotherapy market. For instance, in June 2020, the American Society for Radiation Oncology (ASTRO) introduced new clinical guidelines regarding radiotherapy for nonmetastatic cervical cancer. The new guideline focuses on precisely implementing steps and processes to conduct radiation therapy. All these factors are expected to fuel the US radiotherapy market by 2031.   

Apart from factors driving the market, the North America radiotherapy market report emphasizes prominent players operating in the market; these include Siemens Healthineers AG, Accuray Incorporated, Sumitomo Heavy Industries Ltd, Elekta AB, Hitachi Ltd, Koninklijke Philips NV, Brainlab AG, and PROTOM INTERNATIONAL.  

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