The radiotherapy market is increasing due to several factors, like an increase in the amount of new cancer cases and technological progress in the hardware and software used in radiotherapy. The current foreign markets are underequipped to address new cases of cancer. In low- and middle-income countries, only 10 percent of the populace has access to radiotherapy. Therefore, there exists a wide gap between the need and the installed base of equipment, which provides a huge chance for the companies to grow from the radiotherapy market. Expansion of the radiotherapy market could be both lifesaving and profitable.
Effective planning for the treatment
It’s necessary, and constant technological improvements are taking place to minimize the exposure to radiation of healthy tissue, in order to prevent any side effect. This aim is a driving force of R&D for radiotherapy. Software plays an increasingly important role in cancer care. The software & services section includes software, which can be used for treatment planning, analysis, and services, which are required for the maintenance and efficient use of radiotherapy devices. The software & services section of the businesses are expected to grow, as software products help improve health care engagement and clinical knowledge-sharing, patient care management, and the management of cancer clinics, radiotherapy facilities, and oncology practices for superior performance. Companies like Varian are always increasing their software portfolio. Software plays an increasingly significant role in cancer care. At exactly the exact same time, health care systems are subject to harsh budgetary limitations in just about any country. As a result, healthcare providers face the challenge of achieving more while using fewer resources. To attain this goal, hospitals have a strong demand for software platforms that make radiotherapy treatment cost-effective. The development of effective software will improve the delivery of innovative radiotherapy in the future.
Introduction of new technology
Technology is another outstanding feature. Radiation therapy remains a significant modality for cancer treatment, that’s the primary driving factor for the designing of new practices to enhance the survival rate of cancer patients. New technology, like proton beam therapy, are available in developed countries like the United States, Germany, and United Kingdom, due to well-established reimbursement policies. Proton therapy can be used on tissues that are highly sensitive, like brain, spine, and eye tumors. It is more accurate, as compared to other X-ray radiation treatments.
Advancement in the technology is also helping to execute the planning of the radiation therapy.
Technological advancement in existing technologies, such as CT imaging, is making imaging more accurate and consistent. This can give a better representation of a tumor and help in better planning. Already-existing technology, such as IMRT, SBRT, IGRT, conformal 3D, VMAT, and others that are used for radiation therapy treatment is undergoing a variety of advancements. For instance, Varian is creating a software, which can be used to create better planning tools, where statistical models can be used to calculate the attribute of an IMRT treatment for a patient. This is predicted to boost the use of IMRT for treating cancer. IGRT is the sort of radiotherapy. Research is more focused on IGRT, in order to show its fewer side-effects. SBRT is also growing as an alternative for treating cancer. SBRT is used to escalate the dose to the targeted tumor, which may increase local control while limiting the dose to nearby critical structures and normal tissues. This will cause minimal damage to the surrounding tissues and hence, will experience strong growth in the forecast period.
Internal radiation therapy holds a reduced share in the radiotherapy market. Containing Yttrium 90, a radioactive material, this can be an emerging technology. There are only two manufacturers that provide commercialized forms of SIRT, as of April 2015. SIRT has become more of a mainstream treatment; other producers are actively looking toward its own marketing, leading to the rise of the inner radiation therapy segment. However, SIRT isn’t yet widely available in the uk.
Internal radiation therapy is more precise in targeting cancerous cells as it is placed near a tumor, which lessens the risk of damaging healthy tissues and organs, thereby contributing to the growth of the internal radiation therapy market segment.
To increase the market share, companies are continuously investing in R&D. The positive results of the extensive R&D and strategic partnerships can help the businesses gain a substantial increase in the emerging field of radiotherapy.