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How the Image-Guided Radiation Therapy Market Has Progressed: A Look Back Over the Past Few Years?
The market size of image-guided radiation therapy has seen significant growth in the past few years. The market value is projected to increase from $1.89 billion in 2024 to $1.99 billion in 2025, corresponding to a compound annual growth rate (CAGR) of 5.3%. The substantial growth observed during the historic period is due to factors such as increased industrialization, quality assurance needs, regulatory compliance, the development of infrastructure projects and the globalization of supply chains.
In the coming years, the market size of image-guided radiation therapy is projected to experience consistent growth, with expectations to reach $2.37 billion in 2029, boasting a compound annual growth rate (CAGR) of 4.5%. The growth is expected to be spurred by ongoing infrastructural development, changes in regulatory guidelines, expansion in renewable energy, amplified focus on eco-friendly practices, and increased automotive and aerospace production. The forecast period will also see key trends such as miniaturization and portability, advancements in x-ray tube technology, growing acceptance of digital radiography, integration of Artificial Intelligence (AI), and customization for specific applications.
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What’s Driving the Upward Growth Trajectory of the Image-Guided Radiation Therapy Market?
The image-guided radiation therapy market’s upward trend is anticipated to be driven by the escalating prevalence of cancer. Uncontrolled abnormal cell growth and spread characterize cancer within the body. Image-guided radiation therapy, or IGRT, is favored in cancer management for its precision in delivering radiation to cancerous cells while limiting harm to healthy tissue and mitigating adverse effects. A recent report in January 2022 by the American Cancer Society, a non-profit organization based in the US, predicted approximately 2 million new cancer diagnoses, marking a substantial increase of nearly over 10%. Therefore, the surge in cancer cases is propelling the image-guided radiation therapy market’s expansion in the future.
Which Segments in the Image-Guided Radiation Therapy Industry Are Seeing the Fastest Growth?
The image-guided radiation therapymarket covered in this report is segmented –
1) By Product Type: 4D Gating And 4D RT; Linear Accelerator (LINAC); PET And MRI Guided Radiation Therapy; Portal Imaging; CT Scanning
2) By Procedure: Intensity-Modulation Radiation Therapy; 3D Conformal Radiation Therapy; Stereotactic Therapy; Proton Beam Therapy; Particle Therapy
3) By Application: Lung Cancer; Prostate Cancer; Head And Neck Cancer; Gynecological Cancer; Gastrointestinal Cancer; Other Applications
4) By End User: Hospitals; Independent Radiotherapy Centers
Subsegments:
1) By 4D Gating and 4D RT: 4D Gating Systems; 4D Radiation Therapy Systems
2) By Linear Accelerator (LINAC): Conventional LINAC Systems; Advanced LINAC Systems
3) By PET And MRI Guided Radiation Therapy: PET/CT Guided Radiation Therapy; MRI Guided Radiation Therapy
4) By Portal Imaging: Electronic Portal Imaging; Conventional Portal Imaging
5) By CT Scanning: CT Imaging For Radiation Therapy Planning; Cone Beam CT For Radiation Therapy
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How Will Shifting Market Trends Influence Image-Guided Radiation Therapy System Adoption?
Key industry players in the image-guided radiation therapy market are targeting technological progress, like the introduction of Cenos, an online adaptive therapy alternative for radiation treatments. This provides medical professionals with the capacity to efficiently and promptly change the plan of radiation therapy treatment if necessary while the patient continues their treatment.
For instance, in October 2023, Accuray Incorporated, a US-based producer of radiation therapy systems, joined with Limbus AI, a Canadian AI firm, to unveil the Cenos platform for its Radixact System. This advanced treatment delivery system provides uncompromised capabilities for addressing a variety of cancer types, including breast, prostate, lung, and head and neck cancers, in addition to complex treatments like total marrow irradiation. The Cenos platform boasts unique attributes such as a high-speed multileaf collimator, a fully integrated platform and the Tomo C platform. Also, it offers medical providers the flexibility to make online alterations to their treatment plan to address any changes that may arise between treatment sessions.
Which Global Regions Are Powering Demand in the Image-Guided Radiation Therapy Market?
North America was the largest region in the image-guided radiation therapy market in 2024. The regions covered in the image-guided radiation therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How Key Players Are Driving Growth in the Image-Guided Radiation Therapy Market?
Major companies operating in the image-guided radiation therapy market report are Hitachi Ltd., Toshiba Corporation, Siemens Healthcare GmbH, Koninklijke Philips N.V., GE Healthcare Company, Varian Medical Systems Inc., Elekta AB, Canon Medical Systems R&D (Dalian) Co. Ltd., Accuray Incorporated, Ion Beam Applications S.A., Brainlab AG, ViewRay Technologies Inc., Mevion Medical Systems Inc., RaySearch Laboratories AB, Vision RT Ltd., Sun Nuclear Corporation, IZI Medical Products LLC, Eckert & Ziegler BEBIG GmbH, C-RAD AB, Standard Imaging Inc., CIVCO Radiotherapy Inc., IntraOp Medical Corporation, RTsafe Solutions Ltd., ASG Superconductors S.p.A., Mirada Medical Corporation, Xstrahl Ltd., Mobius Medical Systems LP, Precision X-Ray Inc., RefleXion Medical Inc., Panacea Medical Technologies Pvt. Ltd.
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