The radiation therapy devices market is growing as the global number of cancer patients increases, states a new report by pharmaceutical industry analysts GlobalData.
The new report* attributes the surge in cancer sufferers to a rising elderly population and the increased consumption of tobacco, particularly in developing nations such as China.
Correspondingly, there is a greater demand for cancer treatments which is expected to lead the worldwide radiation therapy market to climb from a value of just under $2 billion in 2011, to $3.6 billion in 2018, at a Compound Annual Growth Rate (CAGR) of 9.1%.
Emerging economies are expected to play a more significant role in this sector in the years to come, as these countries deal with aging populations and the spread of smoking. GlobalData’s analysis indicates that there has been a substantial jump in tobacco use in developing countries, which has in turn led to an increase in lung cancer.
The penetration of linear accelerator machines and other radiation therapy devices is currently very low in countries such as China and India, but as awareness and purchasing power climb with the number of cancer patients, this is expected to change.
Equipment sales in traditional markets like the US and Europe, however, are expected to be driven by replacement orders as people seek better and more efficient cancer treatments.
In the global external beams therapy systems market there is one company that stands above all others. California based Varian Medical Systems held a 49% share in 2011, a dominance attributed to a large installation base and a popular range of products. Elekta AB came in second with 30% in a year in which they completed the acquisition of radiotherapy company Nucletron, obtaining the company’s brachytherapy business in the transaction.
Accuray/Tomotherapy and Siemens Healthcare came a somewhat distant third and forth with 10% and 6%, respectively.
NOTES TO EDITORS
*Radiation Therapy Devices - Global Opportunity Assessment and Market Forecast to 2018
This report provides key data, information and analysis on the global point of care diagnostics market. It also provides market landscape, competitive landscape and market trends information on the radiation therapy devices market.
This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts.
GlobalData is a leading global business intelligence provider offering advanced analytics to help clients make better, more informed decisions every day. Our research and analysis is based on the expert knowledge of over 700 qualified business analysts and 25,000 interviews conducted with industry insiders every year, enabling us to offer the most relevant,reliable and actionable strategic business intelligence available for a wide range of industries
For further details, please Contact Us.