The global single dose radiotherapy services market is expected to attain a valuation of USD 7.88 billion in 2023 and is projected to reach USD 16 billion by 2033, expanding at a CAGR of 7.3% during the forecast period.
Single Dose Radiotherapy is gaining popularity for the treatment of breast cancer and prostate cancer due to several advantages it offers. This advanced approach provides high precision, ensuring accurate targeting of cancer cells while maximizing patient comfort. It is additionally known for its cost-effectiveness and ability to produce favorable cosmetic outcomes.
The combination of its precision, patient comfort, cost-effectiveness, and improved cosmetic results has driven the growing adoption of single-dose radiotherapy services specifically for breast cancer and prostate cancer.
The global incidence of oncology diseases like prostate cancer, lung cancer, and breast cancer is on the rise, leading to a growing need for prompt and effective management to mitigate mortality rates. This significant trend is driving the expansion of the single dose radiotherapy market. For example, Breastcancer.org reported that in March 2022, approximately 287,850 new cases of invasive breast cancer and 51,400 new cases of non-invasive (in situ) breast cancer are projected to be diagnosed among women in the United States.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 7.88 billion |
| Anticipated Forecast Value (2033) | USD 16 billion |
| Projected Growth Rate (2023 to 2033) | CAGR 7.3% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The single dose radiotherapy services market was worth USD 4.6 billion in 2017. It accumulated a market value of USD 6.1 billion in 2022 while growing at a CAGR of 5.8% during the historical period.
Breast cancer, a progressive illness, affects over 2 million individuals globally and has a substantial impact on female mortality rates. Likewise, prostate cancer diagnoses exceed 1.4 million in men aged 45 years and above worldwide. The increasing occurrence of breast and prostate cancer has driven the expansion of the single-dose radiotherapy services market.
In the past, the limited availability of clinical data on single-dose radiotherapy hindered its widespread use in treating early-stage breast and prostate cancer.
However, the current landscape is witnessing numerous ongoing clinical trials aimed at demonstrating the effectiveness and safety of single-dose radiotherapy in early-stage cancer treatment. These trials are paving the way for broader adoption by radiologists, as it holds the potential to reduce the time and costs associated with multiple fraction radiotherapy.
An example of pioneering work in the field is being conducted by the oncologists at the TARGIT Collaborative Group (TCG), who are actively engaged in the advancement of a groundbreaking form of single-dose radiotherapy called TARGIT-IORT.
According to their research, TARGIT-IORT involves the precise administration of targeted radiation directly to the breast during surgery, shortly after tumor removal. Remarkably, 8 out of 10 patients who received TARGIT-IORT immediately following lumpectomy did not require any further radiotherapy treatments after this combined procedure.
The market is projected to be worth USD 16 billion by the end of forecast period while exhibiting a CAGR of 7.3%.
Adoption of External Beam Radiation Therapy to fuel Market Growth
The demand for radiotherapy has significantly risen in recent years due to various factors. These include a growing number of cancer patients, a rise in the geriatric population, greater adoption of radiotherapy devices and procedures, an increase in awareness campaigns promoting the benefits of radiotherapy, and advances in radiotherapy technology.
The adoption of external-beam radiation therapy has surged significantly, driven by its effectiveness in treating a broad range of cancers, including lung, prostate, breast, colorectal, liver, thyroid, lymphoma, brain, and spine cancer.
This type of radiation therapy is highly favored and widely used in cancer treatment. It involves directing high-energy rays toward the tumor from outside the body, which has propelled its popularity and contributed to market growth.
The presence of reimbursement policies is expected to create numerous market opportunities for industry expansion. Various reimbursement policies associated with brachytherapy products have led to reduced treatment costs, incentivizing patients to seek treatment.
For example, Isoray's announcement of approved billing codes for Cesium-131 reimbursement in hospital DRG sets in 2020 has accelerated market growth significantly. This factor plays a crucial role in driving rapid market expansion.
Principal Consultant
Lack of Skilled Professionals to Restrain Market Expansion
The lack of skilled professionals and a lack of technical expertise is expected to restrain market growth. The shortage of oncologists in the United States is a significant concern, with American Society of Clinical Oncology (ASCO) projecting a deficit of over 2,200 oncologists by 2025. Consequently, these factors act as obstacles to the expansion of the market.
North America Driving Growth with Significant CAGR
The North American single dose radiotherapy services market accounted for a revenue share of 41% in 2022. The demand outlook for single dose radiotherapy services treatment in the region is expected to grow with a CAGR of 7.1% during the forecast period.
The United States healthcare system is renowned for its advanced infrastructure and high expenditures. Cancer care centers and hospitals adhere to regulatory guidelines and insurance policies in their treatment protocols. The substantial hospital bills, apart from those covered by Medicare, contribute to the growth of the market in the country.
The United States government and regulatory authorities are actively implementing cost-containment plans to alleviate the healthcare burden. In addition, they are taking proactive initiatives to promote research activities focused on the development and treatment plans for single-dose radiotherapy in cancer care.
As an example, in 2019, the American Cancer Society provided over D67 million in funding for breast cancer research via 162 research and training grants. Moreover, the American Cancer Society Cancer Action Network (ACS CAN) augmented the funding for the National Breast and Cervical Cancer Early Detection Program (NBCCEDP) at both state and federal levels.
The United States witnesses a higher prevalence of breast cancer and prostate cancer, prompting numerous service providers to initiate awareness campaigns to educate the public about these diseases. This increased awareness is expected to positively impact the overall market growth in the country.
China to emerge as an important Player in the Single Dose Radiotherapy Services Domain
The market in East Asia is expected to grow with a CAGR of 7.4% throughout the forecast period. The market in China is projected to grow at a CAGR of 7.5% during the forecast period.
South Asia is poised for accelerated growth in the coming years. According to the World Health Organization, there has been an upward trend in the incidence rate of "westernized lifestyle-related cancer," including prostate cancer in males, as well as obesity and hormonal exposure-related cancers such as breast cancer in females, reported in China in 2018.
In China, a comprehensive nationwide survey conducted in 2018 indicated that approximately 13.8% of females were affected by breast cancer, while 19.25% of males were diagnosed with prostate cancer.
Additionally, according to the Global Burden of Disease Study, both breast cancer and prostate cancer emerged as the leading causes of death among the top five types of cancer in the country in 2018.
These statistics reflect significant opportunities for expanded penetration in China, thereby extending to South Asia. The increasing incidence of breast cancer and prostate cancer in China serves as a crucial driver for rapid growth of the market in the region.
A rise in government spending on healthcare, increasing funding for cancer research, and growing prevalence of cancer is expected to propel market growth in the region. Additionally, government initiatives toward strengthening healthcare facilities and increasing health insurance penetration are further fuelling the demand for single dose radiotherapy services.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
External Beam Radiotherapy Leading the Market
The external beam radiotherapy segment is expected to lead the single dose radiotherapy services market. This segment is expected to flourish at a CAGR of 7.9% throughout the forecast period.
The growth of the market is primarily attributed to the remarkable precision achieved through external beam therapy. Advancements in this therapy enable the delivery of higher and more precise radiation doses while minimizing harm to healthy tissues. Additionally, patients who are deemed unfit for surgery, further driving its popularity in the market, prefer external radiotherapy.
External beam radiotherapy is a commonly utilized treatment approach for breast cancer and prostate cancer. Its ease of operation and non-invasive nature make it a preferred choice among physicians. While external beam radiotherapy can be costly, many service providers offer reimbursement options for these procedures. Interestingly, the cost of a single dose of external beam radiotherapy is typically higher for prostate cancer patients compared to breast cancer patients, resulting in higher revenue within the single-dose radiotherapy services market.
Prostate Cancer Indication to account for maximum deployment
The prostate cancer segment is expected to account for a sizeable share by end of the forecast period. The segment is expected to grow with a CAGR of 8% during the forecast period.
The growth of this segment can be attributed to the significant incidence of prostate cancer and its relatively high success rate compared to other types of cancer. For example, data from GLOBOCAN indicates that there were 1.4 million reported cases of prostate cancer in 2020, with an expected increase to 1.9 million cases by 2040. This sustained rise in cases contributes to the segment growth as well as the overall growth of the market.
Start-ups are crucial in identifying growth opportunities, including the single-dose radiotherapy services market. They efficiently convert inputs to outputs and adapt to market changes, contributing to the industry's expansion. Some start-ups are expected to drive growth in the single-dose radiotherapy services market.
The single dose radiotherapy services market is highly competitive, with several key industry players investing heavily in the production of these services. The key industry players are Accuray Incorporated, Varian Medical Systems, Inc., Elekta AB, ViewRay, Inc., IBA Worldwide, Alliance Oncology, GenesisCare, Hitachi, Ltd., RaySearch Laboratories AB, and Provision Healthcare.
Key industry players leverage organic growth strategies like acquisition, mergers, partnerships, and collaboration to enhance their product portfolio. This is expected to fuel the global single dose radiotherapy services market.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 7.88 billion |
| Market Value in 2033 | USD 16 billion |
| Growth Rate | CAGR of 7.3% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2017 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Indication, Therapy, Service Providers, Region |
| Regions Covered |
North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, India, China, Japan, Malaysia, Singapore, Thailand, South Korea, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Accuray Incorporated; Varian Medical Systems, Inc.; Elekta AB; ViewRay Inc.; IBA Worldwide; Alliance Oncology; GenesisCare; Hitachi, Ltd.; RaySearch Laboratories AB; Provision Healthcare |
| Customization & Pricing | Available Upon Request |
The market is estimated to secure a valuation of US$ 7.88 billion in 2023.
The market is estimated to US$ 16 billion by 2033.
Through 2033, the market is anticipated to expand at a 7.3% CAGR.
The market in China is set to progress at a CAGR of 7.5%.
The North American market makes up 41% of total revenue.
External beam radiotherapy segment is experiencing significant growth in the industry, with a CAGR of 6.9%.
The prostate cancer segment is to thrive at a CAGR of 8%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Indication 5.1. Breast Cancer 5.2. Prostate Cancer 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Therapy 6.1. External Beam Radiotherapy 6.2. Internal Beam Radiotherapy 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Service 7.1. Hospitals 7.2. Radiotherapy Centers 7.3. Specialized Cancer Institutes 8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia 8.5. East Asia 8.6. Oceania 8.7. MEA 9. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Accuray Incorporated 18.2. Varian Medical Systems, Inc. 18.3. Elekta AB 18.4. ViewRay, Inc. 18.5. IBA Worldwide 18.6. Alliance Oncology 18.7. GenesisCare 18.8. Hitachi, Ltd. 18.9. RaySearch Laboratories AB 18.10. Provision Healthcare 19. Assumptions & Acronyms Used 20. Research Methodology
Healthcare
February 2024
REP-GB-16820
342 pages
Explore Healthcare Insights
View Reports
Single Dose Radiotherapy Services Market
