[226 Pages Report] The Global superficial radiation therapy system market is set to record a market value of U.S$ 43.3 Mn in the year 2022 with a CAGR of 3.8% which indicates a positive market growth over the forecast period.
Superficial radiation therapy system Market Outlook:
| Data Points | Market Insights |
|---|---|
| Market Value 2022 | USD 43.3 million |
| Market Value 2030 | USD 58.2 million |
| CAGR 2022-2030 | 3.8% |
| Key Players | The key players are Sensus Healthcare, Xstrahl Limited |
| Share of Top 5 Countries | 60.2% |
As projected by Future Market Insights, the Basal Cell Carcinoma by application are expected to witness a market value of U.S$ 18.6 Mn, which accounts for around half of the total superficial radiation therapy system market, in the year 2022.
Increasing use of radiotherapy for the cancer treatment, rapid rise in the cases of skin cancer, growing awareness initiatives undertaken by government and private organizations such as education programmes and campaigns encouraging the population, and niche market creating potential opportunities for the market players are the primary factors boosting the development of the superficial radiation therapy system market.
Moreover, the superficial radiation therapy is an effective, safe and beneficial treatment options as compared to Mohs surgery to treat non-melanoma skin cancer. This offers high growth opportunities for the several players in this market.
Superficial radiation therapy system market holds nearly 1% market value share of the US$ 5.9 Bn radiotherapy market in 2021. In addition, there has been an increase in funding for cancer research together with emerging trend of digitalization and patient – centric healthcare.
Digital healthcare and artificial-intelligence-based innovations in the US provide people with more personalized high-tech care. The expansion in the use of digital health technologies produces significant cost savings for the healthcare sector.
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| Particulars | Details |
|---|---|
| H1 - 2021 | 3.80% |
| H1 – 2022 Projected | 3.77% |
| H1 – 2022 Outlook | 3.67% |
| BPS Change - H1, 2022 (O) – H1, 2022 (P) | (-) 10 ↓ |
| BPS Change– H1, 2022 (O) – H1, 2021 | (-) 13 ↓ |
According to Future Market Insights Analysis, the global superficial radiation therapy system market will see an approximately 13-unit decrease in Basis Point Share (BPS) from H1- 2021 to H1- 2022(O). H1-2022 outlook period in comparison to H1-2022 projected period showed a negative growth in terms of Basis Point Share by 10 BPS.
This was mostly due to the impact of cost factors related with robotic superficial radiation therapy systems, which resulted in greater development costs and lower adoption rates. This is based on value consumption as stated by the key competitors.
However, various key factors such as the implementation of surface guided radiation technique (SGRT), which improves patient isocentric and postural alignment accuracy and reproducibility, as well as efficiency and safety in cancer radiotherapy shows a promising growth for this market in near future.
Furthermore, because radiation levels off at the peripheral, the aspect of unequal dosage administration would hinder the growth of the superficial radiation therapy system market.
Sales of superficial radiation therapy system grew at a CAGR of 3.5% between 2014 and 2021.
Increasing adoption of SRT treatment in various end-user, ozone layer depletion and extensive results of radiotherapy for the cancer treatment are major drivers for superficial radiation therapy system market.
The use of superficial radiations therapy for cancer treatment is increasing due to their non-invasive nature, which penetrates up to 5 millimeter of the skin surface. The use of chemotherapy alone is not as effective as the chemo-radiotherapy in cancer patients, which is one of the reasons why radiotherapy is mostly adopted.
As per the AAC Journal, out of 10.5 Mn cancer survivors in 2016, around 3.05 Mn received radiotherapy treatment and this number was expected to increase up to 3.38 Mn by 2020
Moreover, the device offers minimally invasive procedure which has reduced the chances of pain and scar in the body. The positive result outcomes by the use of the superficial radiation therapy system on the non-melanoma skin cancer patients have led to the high adoption of the system in various end-user such as cancer institutes and dermatology clinics.
Considering this, FMI expects the global superficial radiation therapy system market to grow at a CAGR of 3.8% through 2030.
Side effects associated with radiation therapy and large number of unaware population are the key factors restraining the market growth over the forecast period. Patient treated with SRT system are likely to face side effects such as dryness, hair loss, itching, redness and sometimes can face severe symptoms.
Also, there is a huge chance of reoccurrence of non-melanoma skin cancer and keloid scar as the SRT treatment does not assure complete cure of the disease. This factor is likely to affect the market growth of the superficial radiation therapy system.
In addition, According to the Skin Cancer Foundation survey, the majority of the general and affected population are unaware of a potential and widespread impact of life-threatening skin cancer.
According to the survey conducted by The Harris Poll in collaboration with Sanofi and Regeneron, it was stated that approximately 74% of the American population are unaware of being suffering from cutaneous squamous cell carcinoma, which is the 2nd most common skin cancer in the U.S.
These are some of the factors which may restraint the growth of the market in the forecast period.
Principal Consultant
Country level Covid-19 outbreak of big economies impacted negatively on the superficial radiation therapy system market owing to lockdown and reduced healthcare center visits.
However, the negative impact was also seen on raw materials due to limited production, transportation-related issues owing to travel restriction and driver shortage. Geographic location was also considered to be one of the significant factor for superficial radiation therapy system industry supply chain.
Market experienced short-term negative impact owing to suspended supply chains of superficial radiation therapy system in developed and emerging countries. Nonetheless, a significant rise in awareness about preventative therapies was anticipated, indirectly leading to market growth and sustainability over the forecast period.
The U.S. is estimated to account for around 88.9% of the North America superficial radiation therapy system market in 2022.
The dominant share of U.S. can mainly be owing to the rapidly increasing incidence of skin cancer, rising geriatric population and various education programmes. Around 90% of non-melanoma skin cancer occurs due to exposure to UV sun lights. Newly diagnosed cases of skin cancer are rapidly increasing in the U.S.
Although the incidence of skin cancer is increasing rapidly, the death rate has decreased from 1991 to 2015. The decrease in death rate is majorly due to rising early diagnosis, and availability of advanced treatment options. In the U.S., the diagnosis and treatment for non-melanoma skin cancers have raised by 77% between 1994 and 2014 in the U.S.
Additionally, with the increased burden of skin cancer, many campaigns and initiatives have been carried out to raise awareness amongst the population regarding the consequences of the skin disease caused due to excessive exposure to the sun. May month is considered to be the month of skin cancer awareness. Many skin cancer survivals are encouraged to share their stories on the social media platform to raise awareness.
Germany is estimated to account for 26.3% of the Europe superficial radiation therapy system market in 2022.
Germany is expected to lead the market owing to technological advancements and introduction of portable machines in end user. There has constant development of superficial radiation therapy technology which is widely used to treat non-melanoma skin cancer. The superficial radiation therapy system has become easily available in end-user segment settings through which radiation therapy has been performed with positive and effective outcomes.
With the introduction of portable superficial radiation therapy systems, the appropriate employment of dermatology practices in an office-based setting has increased from the past few years. Technological advancements of portability features are likely to further boost growth of the HCMS market in the near future.
The superficial radiation therapy system market in China is estimated to be worth US$ 1.8 Mn in 2022 in the global market.
In developing countries like China, many education courses which is required to perform effective radiation therapy are being provided for positives outcomes. The education courses mainly focuses on well-versed healthcare professionals with delivery and planning of advanced radiation therapy for the treatment of cancer.
It is an important way to increase the pool of qualified professionals and maximize the use of this radiation technology to fight against cancer. This can navigate the rising cases of cancer in china and drive the market.
The superficial radiation therapy system market in India is anticipated to be capture around 76.3% of the global market share in 2022. The global issues like ozone layer depletion has increased the amount of ultraviolet light that reaches the earth surface which has led to the rise in many skin related disorder, even in countries like India, where its impact can clearly be seen.
The general population is not much aware of the risk factors associated with insufficient and inflated sunlight exposure. However, many players are now entering into this market to serve the large patient pool suffering from cancer or related disease requiring such radiation treatment.
These factors are expected to increase the patient pool with the skin-related disorder and likewise demand for treatment procedures and is likely to propel the growth of the market.
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By product type, superficial radiation therapy systems is anticipated to hold the maximum share of 95.8% in 2022, expanding at rate of nearly 3.9% during the forecast period.
The SRT system software provides complete patients details and provides products for various phases and stages of pre-planning, treatment, management and manipulation of the radiation therapy treatment procedure till follow-up. This advantage of this type of unique software solution allow physicians to use the patient data in the most effective and efficient ways.
The software helps in the treatment planning, verification and information management, collects treatment data and images. Due to their growing popularity and demand, this segment takes the highest share.
By application, Basal Cell Carcinoma will lead the market and is projected to account for 42.9% of the total market revenue share in 2022.
Basal cell carcinoma is the most common type of skin cancer, which grows in the skin area damaged by sunrays. The growth of this type of cancer is very slow and is unlikely to spread from the skin to other parts of the body, but it can move to nearby bone or other tissues under the skin. Cancer majorly affect basal cell of skin. Thereby, driving the demand for this segment.
By End User, hospital segment is anticipated to hold the maximum share of 35.5% in 2022, expanding at rapid rate of 3.9% CAGR during the forecast period.
Superficial radiation therapy system is easily installed in hospitals and cost of installation return can easily be received from patient’s bill. Moreover, walk in patient in hospital for radiation therapy is more compared to any other healthcare setup. These are some of the major factors expected to boom the demand for hospitals.
Companies operating in the superficial radiation therapy system market are fragmented by nature, with a presence of few players. These players are involved in a number of strategic alliances. The agreement and system automation accelerates the manufacturer’s strategy to capitalize on the market share and capture the significant share of market.
Some of the recent instances include:
| Attribute | Details |
|---|---|
| Forecast Period | 2014 to 2021 |
| Historical Data Available for | 2022 to 2030 |
| Market Analysis | USD Billion for Value |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, Germany, UK, France, Italy, Spain, BENELUX, Russia, Nordic, China, Japan, South Korea, India, Indonesia, Malaysia, Thailand, Australia, New Zealand, GCC Countries, South Africa, Turkey |
| Key Segments Covered | Product Type, Application, End User and Region |
| Key Companies Profiled | Sensus Healthcare; Xstrahl Limited |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
By Product Type :
By Application :
By End User :
By Region :
The global superficial radiation therapy system market is worth US$ 41.6 Mn in 2021 and is set to expand 1.3X over the forecasted years.
The sales of superficial radiation therapy system in the market have grown at a CAGR of nearly 3.5% between 2014 and 2021. The need for superficial radiation therapy system is growing because of rapid growth of technological advancements and growing need of hospital automation.
The superficial radiation therapy system market is expected to reach US$ 58.2 Mn by the end of 2030 with sales revenue expected to register CAGR of 3.8% over the forecast period.
North America currently holds the largest market share in the superficial radiation therapy system. North America currently holds 36.6% of global market share in 2022.
Demand of superficial radiation therapy system market is expected to register growth in Europe at rate of 3.4% CAGR during the forecast period.
The superficial radiation therapy system in China is likely to observe growth with an impressive with market share of 33.4% in 2022. The ozone layer depletion and growing disease incidence are the major factors driving the market growth in China.
Wide availability and portability of machines, consolidation of radiotherapy device manufacturers, and investments in educational programs are key trends driving sales of superficial radiation therapy system market across the globe.
United States, Germany, United Kingdom, Australia, France are the top 5 countries that are driving the demand for superficial radiation therapy system market.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 2.3. Inclusions and Exclusions 3. Key Success Factors 3.1. Epidemiology Scenario 3.2. Reimbursement Scenario 3.3. Regulatory Landscape 3.4. Installed Base Data 4. Global Superficial Radiation Therapy Systems Market Demand (Size in US$ Mn) Analysis 2014-2021 and Forecast, 2022-2030 4.1. Historical Market Value (US$ Mn) Analysis, 2014-2021 4.2. Current and Future Market Value (US$ Mn) Projections, 2022-2030 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Superficial Radiation Therapy Systems Market - Pricing Analysis 5.1. Regional Pricing Analysis By Product 5.2. Pricing Break-up 5.2.1. Manufacturer Level Pricing 5.2.2. Distributor Level Pricing 5.3. Global Average Pricing Analysis Benchmark 6. Global Superficial Radiation Therapy Systems Market Demand (Volume in Mn Units) Analysis 2014-2021 and Forecast, 2022-2030 6.1. Historical Market Volume (Mn Units) Analysis, 2014-2021 6.2. Current and Future Market Volume (Mn Units) Projections, 2021-2030 6.2.1. Y-o-Y Growth Trend Analysis 7. Market Background 7.1. Macro-Economic Factors 7.1.1. Global GDP Growth Outlook 7.1.2. Global Healthcare Outlook 7.2. Forecast Factors - Relevance & Impact 7.2.1. Prevalence of Skin related Disorders 7.2.2. Historic Growth of Key Manufacturers 7.2.3. Adoption of Superficial Radiation Therapy Systems 7.3. Market Dynamics 7.3.1. Drivers 7.3.2. Restraints 7.3.3. Opportunity Analysis 8. Global Superficial Radiation Therapy Systems Market Analysis 2014-2021 and Forecast 2022-2030, by Product 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ Mn) Analysis By Product, 2014–2021 8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Product, 2022-2030 8.3.1. Superficial Radiation Therapy Systems 8.3.2. Software 8.4. Market Attractiveness Analysis By Product 9. Global Superficial Radiation Therapy Systems Market Analysis 2014-2021 and Forecast 2022-2030, by Application 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Mn) Analysis By Application, 2014–2021 9.3. Current Market Size (US$ Mn) Analysis and Forecast By Application, 2022 9.3.1. Basal Cell Carcinoma 9.3.2. Squamous Cell Carcinoma 9.3.3. Keloid scars 9.3.4. Psoriasis 9.3.5. Kaposi Sarcoma (Plaque Stage) 9.3.6. Bowen’s Disease 9.3.7. Cutaneous T-cell Lymphoma 9.3.8. Soft Tissue Metastases 9.4. Market Attractiveness Analysis By Application 10. Global Superficial Radiation Therapy Systems Market Analysis 2014-2021 and Forecast 2022-2030, by End User 10.1. Introduction / Key Findings 10.2. Historical Market Size (US$ Mn) Analysis By End User, 2014–2021 10.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By End User, 2022-2030 10.3.1. Hospitals 10.3.2. Ambulatory Surgical Centers 10.3.3. Cancer Research Institutes 10.3.4. Dermatology Centers 10.4. Market Attractiveness Analysis By End User 11. Global Superficial Radiation Therapy Systems Market Analysis 2014-2021 and Forecast 2022-2030, by Region 11.1. Introduction / Key Findings 11.2. Historical Market Size (US$ Mn) Analysis By Region, 2014–2021 11.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Region, 2022-2030 11.3.1. North America 11.3.2. Latin America 11.3.3. Europe 11.3.4. East Asia 11.3.5. South Asia 11.3.6. Oceania 11.3.7. Middle East and Africa (MEA) 11.4. Market Attractiveness Analysis By Region 12. North America Superficial Radiation Therapy Systems Market Analysis 2014-2021 and Forecast 2022-2030 12.1. Introduction 12.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2014–2021 12.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Market Taxonomy, 2022-2030 12.3.1. By Country 12.3.1.1. U.S. 12.3.1.2. Canada 12.3.2. By Product 12.3.3. By Application 12.3.4. By End User 12.4. Market Attractiveness Analysis 12.4.1. By Country 12.4.2. By Product 12.4.3. By Application 12.4.4. By End User 12.5. Key Market Participants - Intensity Mapping 12.6. Drivers and Restraints - Impact Analysis 13. Latin America Superficial Radiation Therapy Systems Market Analysis 2014-2021 and Forecast 2022-2030 13.1. Introduction 13.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2014–2021 13.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Market Taxonomy, 2022-2030 13.3.1. By Country 13.3.1.1. Brazil 13.3.1.2. Mexico 13.3.1.3. Argentina 13.3.1.4. Rest of Latin America 13.3.2. By Product 13.3.3. By Application 13.3.4. By End User 13.4. Market Attractiveness Analysis 13.4.1. By Country 13.4.2. By Product 13.4.3. By Application 13.4.4. By End User 13.5. Key Market Participants - Intensity Mapping 13.6. Drivers and Restraints - Impact Analysis 14. Europe Superficial Radiation Therapy Systems Market Analysis 2014-2021 and Forecast 2022-2030 14.1. Introduction 14.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2014–2021 14.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Market Taxonomy, 2022-2030 14.3.1. By Country 14.3.1.1. Germany 14.3.1.2. Italy 14.3.1.3. France 14.3.1.4. U.K. 14.3.1.5. Spain 14.3.1.6. BENELUX 14.3.1.7. Russia 14.3.1.8. Rest of Europe 14.3.2. By Product 14.3.3. By Application 14.3.4. By End User 14.4. Market Attractiveness Analysis 14.4.1. By Country 14.4.2. By Product 14.4.3. By Application 14.4.4. By End User 14.5. Key Market Participants - Intensity Mapping 14.6. Drivers and Restraints - Impact Analysis 15. South Asia Superficial Radiation Therapy Systems Market Analysis 2014-2021 and Forecast 2022-2030 15.1. Introduction 15.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2014–2021 15.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Market Taxonomy, 2022-2030 15.3.1. By Country 15.3.1.1. India 15.3.1.2. Thailand 15.3.1.3. Indonesia 15.3.1.4. Malaysia 15.3.1.5. Rest of South Asia 15.3.2. By Product 15.3.3. By Application 15.3.4. By End User 15.4. Market Attractiveness Analysis 15.4.1. By Country 15.4.2. By Product 15.4.3. By Application 15.4.4. By End User 15.5. Key Market Participants - Intensity Mapping 15.6. Drivers and Restraints - Impact Analysis 16. East Asia Superficial Radiation Therapy Systems Market Analysis 2014-2021 and Forecast 2022-2030 16.1. Introduction 16.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2014–2021 16.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Market Taxonomy, 2022-2030 16.3.1. By Country 16.3.1.1. China 16.3.1.2. Japan 16.3.1.3. South Korea 16.3.2. By Product 16.3.3. By Application 16.3.4. By End User 16.4. Market Attractiveness Analysis 16.4.1. By Country 16.4.2. By Product 16.4.3. By Application 16.4.4. By End User 16.5. Key Market Participants - Intensity Mapping 16.6. Drivers and Restraints - Impact Analysis 17. Oceania Superficial Radiation Therapy Systems Market Analysis 2014-2021 and Forecast 2022-2030 17.1. Introduction 17.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2014–2021 17.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Market Taxonomy, 2022-2030 17.3.1. By Country 17.3.1.1. Australia 17.3.1.2. New Zealand 17.3.2. By Product 17.3.3. By Application 17.3.4. By End User 17.4. Market Attractiveness Analysis 17.4.1. By Country 17.4.2. By Product 17.4.3. By Application 17.4.4. By End User 17.5. Key Market Participants - Intensity Mapping 17.6. Drivers and Restraints - Impact Analysis 18. Middle East and Africa Superficial Radiation Therapy Systems Market Analysis 2014-2021 and Forecast 2022-2030 18.1. Introduction 18.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2014–2021 18.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Market Taxonomy, 2022-2030 18.3.1. By Country 18.3.1.1. GCC Countries 18.3.1.2. Turkey 18.3.1.3. Northern Africa 18.3.1.4. South Africa 18.3.1.5. Rest of Middle East and Africa 18.3.2. By Product 18.3.3. By Application 18.3.4. By End User 18.4. Market Attractiveness Analysis 18.4.1. By Country 18.4.2. By Product 18.4.3. By Application 18.4.4. By End User 18.5. Key Market Participants - Intensity Mapping 18.6. Drivers and Restraints - Impact Analysis 19. Emerging Countries Superficial Radiation Therapy Systems Market Analysis 2022 & 2030 19.1. Introduction 19.1.1. Market Value Proportion Analysis, By Key Countries 19.1.2. Global Vs. Country Growth Comparison 19.2. India Superficial Radiation Therapy Systems Market Analysis 19.2.1. Introduction 19.2.2. PEST Analysis 19.2.3. Market Value Analysis by Market Taxonomy 19.2.4. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy 19.2.4.1. By Product 19.2.4.2. By Application 19.2.4.3. By End User 19.3. China Superficial Radiation Therapy Systems Market Analysis 19.3.1. Introduction 19.3.2. PEST Analysis 19.3.3. Market Value Analysis by Market Taxonomy 19.3.4. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy 19.3.4.1. By Product 19.3.4.2. By Application 19.3.4.3. By End User 19.4. Brazil Superficial Radiation Therapy Systems Market Analysis 19.4.1. Introduction 19.4.2. PEST Analysis 19.4.3. Market Value Analysis by Market Taxonomy 19.4.4. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy 19.4.4.1. By Product 19.4.4.2. By Application 19.4.4.3. By End User 20. Market Structure Analysis 20.1. Market Share Analysis (%) 21. Competition Analysis 21.1. Competition Dashboard 21.2. Competition Deep Dive 21.2.1. Sensus Healthcare 21.2.1.1. Overview 21.2.1.2. Business Segment 21.2.1.3. Key Financials 21.2.1.4. Key Developments 21.2.1.5. Analyst Commentary 21.2.2. Xstrahl Limited 22. Assumptions and Acronyms Used 23. Research Methodology
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Superficial Radiation Therapy System Market
