The image-guided radiation therapy market is anticipated to expand at a compound annual growth rate (CAGR) of 5.3 percent, from USD 11.7 billion in 2023 to USD 24.4 billion in 2030, according to Intent Market Research. Image-guided Radiation Therapy (IGRT) is a technique that uses routine imaging to increase precision during radiation treatment. It has several benefits, including improved tumor monitoring and control, more precise and accurate dosage, and less exposure to healthy organs, which lowers toxicity and carcinogenicity in other tissues.

Intensity-modulated Radiation Therapy (IMRT) Segment is Anticipated to Grow at a Significant Pace in the Image-guided Radiation Therapy (IGRT) Market

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A sophisticated type of high-precision radiation therapy called intensity-modulated radiation therapy (IMRT) uses computer-controlled linear accelerators to precisely administer radiation doses to a malignant tumor or specific tumor regions. IMRT, which is frequently used to treat cancer of the lungs, spine, liver, and neck, allows the radiation dose to more precisely conform to the three-dimensional shape of the tumor sessions by modulating, or controlling, the intensity of the radiation beam in multiple small volumes. By causing damage to the DNA within the tumor cells, IMRT radiation therapy stops the cells from growing, which causes the tumors to shrink. Through partnerships and research collaboration, major market players focus their efforts on creating cutting-edge technologies. For example, Phillips and Elekta announced a strategic partnership in June 2021 to use precision oncology technologies to enhance comprehensive and customized cancer treatment. The two businesses are now collaborating, building on their fruitful collaboration in the quickly evolving field of Magnetic Resonance (MR)-guided adaptive radiation therapy.

Image-guided Radiation Therapy (IGRT) Market

Lung Cancer Segment is Expected to Grow at a Rapid Pace During the Forecast Period

The lung cancer segment is expected to grow significantly due to rising cases of lung cancer. In the US, lung cancer ranks as the second most common cancer in both men and women, both small cell and non-small cell types. The second most common cancer in the world is lung cancer. It ranks second in women’s cancer cases and the most common in men’s. For instance, according to data published by the National Cancer Institute, an estimated 603,989 Americans were expected to have lung and bronchus cancer in 2020.

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Asia-Pacific is Expected to be the Fastest-growing Region in the Image-guided Radiation Therapy Market

The growth in Asia-Pacific region is mainly attributed to rising cancer cases, developed healthcare infrastructure, and a growing geriatric population. Major market players in this region are working on the development of advanced radiotherapy modalities to lessen the toxicity rate of radiation.

For instance, in June 2020, Accuray, a US-based medical device company introduced the CyberKnife S7TM System. This is an advanced device that integrates high speed, precision, and real-time AI-driven motion tracking and synchronization for treatment delivery. It is designed to deliver stereotactic body radiation therapy (SBRT) and stereotactic radiosurgery (SRS) for cancerous and benign tumors treatments. This cutting-edge system allows for treatment delivery in as little as 15 minutes. It is a robotic, non-invasive radiation therapy tool that can be used to treat neurological conditions and both benign and malignant tumors located all over the body.

Image-guided Radiation Therapy Market is Highly Competitive with the Presence of a Large Number of Global and Regional Players

The market is characterized by intense competition due to the presence of numerous international and domestic players. The Image-guided radiation therapy market, in particular, is dominated by key players such as Accuray, Canon, C-Rad, Elekta, GE Healthcare, GenesisCare, Mevion, Philips, RefleXion, Siemens, Sun Nuclear, ViewRay, and Vision RT. These industry leaders are primarily focused on acquiring smaller players and innovating their product lines to provide novel treatment options to improve patient health.

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