Worldwide Latest Market Research Report on “Global Radiotherapy Market – Segmented by Type, Application, End-user, and Geography – Growth, Trends, and Forecast (2019 – 2023) 2019-2023”
The Global Radiotherapy market with CAGR of 6.9% 2019-2023. The report begins from overview of Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Radiotherapy by product, region, and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.
Competitor Analysis: by product types, market share, applications, sales, and revenue.
- GE HEALTHCARE
- CARDINAL HEALTH
- MIRADA MEDICAL
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Overview of Radiotherapy Market:
The Radiotherapy Market is expected to witness a CAGR of 6.9% during the forecast period (2019-2023). The Radiotherapy Market was worth USD 7197.57 million in 2017 and is expected to display a promising upward growth in the next 5 years.
Reduced Cost of Cancer Treatment
Over the years, it has been observed that the cost of radiotherapy treatment has decreased substantially. The reduced cost of the cancer treatment can be attributed to the insurance coverage, and the cost varies from region to region. The average cost for a course of radiotherapy per patient was USD 8,600 for breast cancer, USD 9,000 for lung cancer, and USD 18,000 for prostate cancer. However, out-of-pocket expenses are about USD 10,000 to USD 50,000 or more, depending on the type of cancer and the number of sessions required. Therefore, along with favorable healthcare policies, the average cost of cancer treatment is expected to reduce during the forecast period, driving the cancer-affected population to consider opting for low range cost-effective treatment methods, like radiotherapy. In turn, this trend is expected drive the growth of the global market during the forecast period.
Other factors driving the radiotherapy market include, technological advancements in radiotherapy products, rise in number of geriatric population, lucrative reimbursement plans, and huge government and non-government investments in the R&D of cancer treatment.
Shortage of Skilled Personnel to Perform the Radiotherapy
The implementation of the advanced radiotherapy is expected to be hampered by the shortage of staff confidence and the training required by the staff. According to the American College of Radiology 2015 Commission on Human Resources Workforce survey findings, the number of general radiologists has fallen by almost half in the past two years, now accounting for 12.8% of all radiologists. Also around 7% of all radiologists are older than 65 years, and 22% are between the ages of 56 and 65 years, the looming retirement of a substantial portion of the radiology workforce threatens to create an additional need for specialized workforce. Factors such as, shortage of staff, and the lack of trained radiographers are expected to restrict the global market over the forecast period.
Other restraining factors include, competent alternative treatments and the fact that radiotherapy is not effective for metastasized state of cancer.
North America Dominates the Market
North America has accounted for the largest share of the market in 2016, followed by Europe. There are numerous factors for the United States to dominate the market, which include technological advancements in radiotherapy equipment, growing number of cancer cases, and the rising focus of the major players on expanding their presence in region. The Asia-Pacific region is expected to grow at the fastest rate, due to the increasing number of cancer patients, which is expected to drive the radiotherapy market.
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Reasons to Purchase this Report
The Global demand for Radiotherapy Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2019 and 2025 compared to a few years ago, signifying the rapid pace of change.
Global Radiotherapy Market highlights the following key factors:
- A complete informative analysis of Radiotherapy industry, which includes a valuation of the parental market.
- Emerging trends by sections and regional markets.
- Major developments in market dynamics & market overview.
- Radiotherapy Market shares and methods of key players in the Radiotherapy market.
- Current and predictable size of Radiotherapy market from the outlook of both value and volume.
- Reporting and estimation of recent industry developments.
- References to companies for establishment their position in the Radiotherapy market.
Radiotherapy Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Radiotherapy Market players in detail. Radiotherapy Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
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Key Features of the Radiotherapy Market Report:
- Radiotherapy Market insights and finger analysis will help take knowledgeable decision in the changing competitive dynamics.
- To build up a far-reaching, verifiable, every year refreshed and financially perceptive data dependent on execution, capacities, objectives, and systems of the world is driving organizations.
- To help current providers reasonably evaluate their money related, advertising and innovative capacities opposite driving contenders.
- To supplement associations internal competing data gathering endeavors by giving vital investigation, information understanding, and knowledge.
- Five-year forecast measure would give a clear understanding of future growth.
- Investigation of upcoming and past market information will help in organizing an outline of current business strategies.
- Comprehensive information of market players will help understand consumer demands and market scope.
- Development opportunities and forecast buyer requests will evoke the collection of revenue.
- A comprehensive analysis of the changing competitive dynamics will keep you ahead of the competitors.
- The fresh proficient elements such as industry production study, revise product-launching events, growth and risk factors will help in the forecast feasibility analysis.
- To distinguish the slightest focused market specialties with huge development potential.
The growth of this market worldwide is subjected to various factors; including consumer world-class Radiotherapy Market of many Radiotherapy Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
In conclusion, Radiotherapy Market report presents the descriptive analysis of the parent market based on elite players, present, past and futuristic data that will serve as a profitable guide for all the Radiotherapy Market competitors.
Mr. Ajay More
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