Companiesandmarkets.com

Radiotherapy devices market to grow at a CAGR of 5.3%

Press Release   •   Jul 03, 2012 12:16 BST

The global radiotherapy devices market is expected to grow at a CAGR of 5.3%, having been valued at $4.4 billion in 2011 and is estimated to reach $5.8 billion by 2016. External beam therapy devices contribute the maximum share (81.5%) to the global radiotherapy devices market, followed by internal radiotherapy devices (9.6%) and systemic radiotherapy devices (8.9%).

Radiotherapy refers to therapeutic procedures using high energy electromagnetic waves or radioactive particulates to thwart abnormal cell growths within our body system and repair different physiological abnormalities.

The major factors driving growth within the radiotherapy devices markets involve reimbursement support to the radiotherapy procedures in the developed countries over conventional therapeutic procedures. As the incidence cases of cancer diseases continue to rise in the coming years, along with increasing trends in accurate diagnosis and precise treatment planning system, the radiotherapy devices market for treating these diseases would show significant growth through to 2016.

North America represents the biggest market for vascular interventional devices, followed by Europe. However, Asian countries represent the most promising and fastest growing markets as low procedural and infrastructural costs have led to an increased drive of patients from developed regions towards Asian countries such as India and China.

The global radiotherapy devices market is predominantly commanded by major players, such as Varian Medical System, a Californian manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radio surgery, proton therapy, and brachytherapy. Accuray, Inc., a premier radiation oncology company that develops, manufactures and sells personalised innovative treatment solutions, and Elekta AB, a human care company pioneering significant innovations and clinical solutions for treating cancer and brain disorders.

For more information on the radiotherapy devices market, see the latest research: Radiotherapy Devices Market Report

Follow us on Twitter @CandMResearch

Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.