The rising incidence of cancer, technological advancements, and advantages offered by IORT over conventional radiotherapy are the major factors driving the growth of the global market. Additionally, growing clinical trials exploring the use of IORT for various cancer applications is expected to offer lucrative growth opportunities to market players.
What the Market Looks Like?
Global intraoperative radiation therapy market is projected to reach USD 68 million by 2024 from USD 48 million in 2019, growing at a CAGR of 7.0% from 2019 to 2024. The Asia Pacific region is expected to grow at the fastest rate in the intraoperative radiation therapy market during the forecast period.
On the basis of application, the market is segmented into breast cancer, brain tumor, gastrointestinal cancer, head & neck cancer, and other cancers. The breast cancer application segment is expected to dominate the market during the forecast period. This can be primarily attributed to factors such as the non-invasive nature of radiotherapy, rising incidence of breast cancer, and high success rates achieved with IORT.
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What are Key Trends in the Market?
The growth of the Intraoperative Radiation Therapy Market is primarily influenced by the following factors:
- Growing Global Prevalence of Cancer
- Technological Advancements
- Advantages of IORT Over EBRT
Based on method, the market is segmented into electron IORT and intraoperative brachytherapy. The electron IORT segment is expected to grow at the highest rate in the market in 2019. The growth of this segment can be attributed to the wide range of benefits associated with it, including lesser treatment time, better depth of penetration, and optimal dose homogeneity.
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Report Objectives
- To define, describe, and forecast the global market on the basis of method, product & service, application, and region
- To provide detailed information regarding the major factors (drivers, restraints, opportunities) influencing the growth of the global market
- To strategically analyze the micromarkets with respect to individual growth trends, future prospects, and contributions to the global market
- To analyze the opportunities in the global market for key stakeholders and provide details of the competitive landscape for market leaders
- To forecast the revenue of the market segments with respect to four main regions, namely, North America (US and Canada), Europe (Germany, France, the UK, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), and the Rest of the World
- To profile the key players in the global market and comprehensively analyze their market shares and core competencies
- To track and analyze competitive developments, such as product launches, agreements, partnerships, collaborations, and acquisitions in the global market
