Global Intraoperative Radiation Therapy Market Size, Trends, and Analysis - Forecasts To 2026 By Product and Service (Products, Systems or Accelerators, Applicators & Afterloaders, Treatment Planning Systems and Accessories, and Services), By Technology (Electron IORT and Intraoperative Brachytherapy), By Application (Breast Cancer, Brain Tumor, Gastrointestinal Cancer, Head & Neck Cancer, Colorectal Cancer, Endometrial & Cervical Cancer, Lung Cancer and Other Cancers (penile cancer and prostate cancer)By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
The rising prevalence of cancer cases around the globe along with the growing demand for advanced treatments from the patients is significantly influencing the growth of the Intraoperative Radiation Therapy Market. This market is estimated to reach USD 70.40 million, in terms of revenue, by 2026. Intraoperative radiation therapy is a therapy where radiation is used to cure any diseased cell in any exposed area during surgery. It is mainly used for radiation therapy or chemotherapy for treating cancer cells. With the rapid technological advancement throughout the world, the innovation of newer techniques to treat diseases more carefully and in less time, intraoperative radiation therapy is becoming more popular in place of traditional radiotherapy and getting used in many ways, to treat cancer, which is lucratively increasing the market demand. Improving reimbursement scenarios across the developed nations along with the growing application of IORT in medical treatment are supporting the market growth.
The expanding use of it in targeted radiation therapy is influencing the demand for it, as it provides treatment in a lesser time, high precision, and radiation control solutions, and it also does not affect the normal tissues negatively while treating the cancer cells. However, due to the emergence of the ongoing pandemic in the last year the market experienced a steep downfall as most of the hospitals and clinic centers were close for surgeries. But the market is expected to flourish during the forecasting period of 2021-2026, as all the postponed and withhold surgeries are going to be taking place in the upcoming years.
The global market is segmented into six main divisions, namely systems or accelerators, applicators & after loaders, accessories, products, treatment planning systems, and services. Among all these segments, the product segment is estimated to hold the maximum share in the global market. The growing technological advancements to achieve an enhanced potency of the radiation therapy, along with, the easy availability of it due to its growing production, are helping this segment is to grow rapidly.
The market of intraoperative radiation therapy is divided into two main segments according to the technology used, electron IORT and intraoperative brachytherapy. Between these two, the electron IORT segment will register high CAGR and continue the trend between the predicted period (2021 to 2026). This mainly is expected since IORT provides treatment in less time and also it has a better depth of penetration. It also reduces the risk associated with local recurrence and eliminates any microscopic residual disease cell with the help of chemotherapy or radiotherapy. Because of these qualities, the electron IORT is the most demanded one in this market.
The election intraoperative radiation therapy can be operated by the energy of the electron to control the degree of the radiation and therefore can be stopped from affecting the healthy cells. Apart from these, the electron intraoperative radiation therapy is also can be projected when the cancer cells are the most vulnerable to achieve less time taking treatment as well as less number of doses. Also due to the rising awareness about these modern techniques and advanced treatments in cancer treatments the demand for intraoperative Radiation therapy is growing globally.
According to the application analysis, the global intraoperative radiotherapy market is explained and studied into colorectal cancer, breast cancer, lung cancer, brain tumor, endometrial and cervical cancer, gastrointestinal cancer, head & neck cancer, and penile & prostate cancer among others. However, according to the trend of the previous years, it is expected that the breast cancer segment will be witnessing the largest market share as well as the fastest growth during the forecasting period.
In 2020, 2.3 million new breast cancer cases were recorded globally, accounting for 11.7% of the total new cancer cases and it was followed by lung cancer cases accounting for 11.3% of the total.
Increasing cases of breast cancer, as well as the increasing rate of cancer, are boosting the market growth. Along with that, the increasing awareness about breast cancer is making women aware of the importance of regular check-ups, which therefore results in a higher number of breast cancer diagnoses. Increasing the demand for intraoperative radiation therapy for the treatment of it.
Regionally, North America region is expected to be the major shareholder of this market during the forecasting period. The increasing number of Cancer cases especially amongst the elderly population is driving the market in this region. In 2020, in the US and Canada, the number of cancer cases per 100,000 people was almost 400, which is the highest in the world. With the advanced healthcare system in this region, the always developing research on it also results in greater market demand. Favorable government policies and growing investments in the various research activities for developing new therapies are boosting regional growth.
However, the Asia Pacific region is also estimated to witness a significant growth rate for this market mainly due to the increasing awareness drives about cancer mainly, breast cancer. Globally, the governments of several countries are taking several measures and implementations to attain independence for treating cancer patients in their own countries which is projected to be a key market driver for the growth of the market of intraoperative radiation therapy.
ZEISS Group, Theragenics Corporation, iCAD, Inc, Sun Nuclear Corporation, Eckert & Ziegler, Huiheng Medical, Elekta AB, DOSIsoft SA, GMV Innovating Solutions, Xstrahl Medical, Sensus Healthcare, Inc., Merit Medical Systems Inc, IntraOp Medical, Inc, REMEDI Co., Ltd., Isoray, Inc., RaySearch Laboratories, Becton, Dickinson, and Company, Brainlab AG, Sordina IORT Technologies, Salutaris Medical Devices, Varian Medical Systems, Inc, Panacea Medical Technologies Pvt. Ltd, SeeDos Ltd, Ariane Medical Systems Ltd, and IsoAid LLC are the key players involved in the development of intraoperative radiation therapy.
Please note: This is not an exhaustive list of companies profiled in the report.
In 2019, IntraOp Medical paired with the Massachusetts General Hospital to examine the significance of electron beam intraoperative radiation therapy for patients who are suffering from pancreatic cancer.
In 2019, the company named, DOSIsoft SA was approved by the government to put their ‘PLANET an Onco Dose Software’ in the market for commercialization, which can provide ‘3D dosimetry solution for 90Yttrium-based Selective Radiation Therapy (SIRT)’. This is expected to expand the market share of this company globally.
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The Global Intraoperative Radiation Therapy Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Intraoperative Radiation Therapy Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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