by Linear accelerators are medical devices that use high-frequency electric fields to accelerate charged particles, like electrons or protons to high energies. These accelerated particles are then directed externally towards tumor targets for precise radiation treatment of cancer and other diseases. Linear accelerators are widely used for external beam radiation therapy to treat various types of cancers like breast cancer, lung cancer, prostate cancer, head and neck cancers and others. They are the main apparatus used in radiotherapy processes due to their precise dose delivery capabilities allowing high doses of radiation to be focused accurately on tumors while minimizing dose exposure to surrounding healthy tissues.
The global linear accelerators for radiation market is estimated to be valued at US$ 6.9 Bn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Linear accelerator devices find widespread application in radiation therapy for cancer treatment. According to WHO, cancer is one of the major causes of death globally with approximately 10 million deaths in 2020. The rising prevalence of cancers and growing acceptance of radiation therapy as an effective treatment modality is expected to drive the demand for linear accelerators during the forecast period.
Market Dynamics:
Growing demand for cancer treatment: As per the given paragraph, the rising prevalence of cancers globally is one of the key drivers spurring the growth of linear accelerators for radiation market. With approximately 10 million cancer deaths recorded in 2020 according to WHO, there is an increasing demand for effective and advanced radiation therapy options for cancer treatment, augmenting the need for linear accelerators.
Advances in linear accelerator technology: The given opportunity of linear accelerators market getting powered by growing demand for cancer treatment can be further strengthened by advances in linear accelerator technology. Introduction of novel features such as faster treatment times, precise radiation delivery, integration of imaging capabilities and patient-centric designs in new linear accelerator systems are expected to boost their adoption in modern radiation oncology facilities for enhancing cancer care. This acts as another key driver fueling the linear accelerators for radiation market.
Segment Analysis
The linear accelerators for radiation market is dominated by the medical use sub segment which accounts for over 80% market share. Medical use of linear accelerators is irreplaceable for external beam radiation therapy in cancer treatment procedures such as breast cancer, lung cancer and prostate cancer. Radiation therapy requires precise beam targeting capability for effective treatment while minimizing damage to surrounding healthy tissues, which linear accelerators are optimally designed for.
PEST Analysis
Political: Regulations around medical device quality and safety are increasing globally which influences design and manufacturing of linear accelerators. Strict compliance is essential for market access.
Economic: Growing healthcare spending in developing countries driven by rising incomes increases installation of new radiotherapy facilities and replacement demand for linear accelerators. The high cost of new equipment also influences demand patterns.
Social: As cancer incidence increases with ageing populations and changing lifestyles, demand for effective radiation therapy options is growing. This socio-economic trend supports market growth.
Technological: Continuous innovation to enhance treatment accuracy, reduce machine size and promote mobility is driving new product development. Digital linacs allowing advanced treatment techniques like IMRT and VMAT are gaining momentum.
Key Takeaways
The Global Linear Accelerators For Radiation Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global linear accelerators for radiation market is estimated to be valued at US$ 6.9 Bn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030.
North America currently holds the largest share of over 35% of the linear accelerators for radiation market led by advanced healthcare systems and technological superiority of regional players like Varian Medical Systems and Elekta AB. However, Asia Pacific region is witnessing highest growth at a CAGR of over 8% during the forecast period led by increasing healthcare investments, rising awareness about cancer care and rapid expansion of radiotherapy infrastructure in China, India and Japan.
Key players related content comprises Key players operating in the linear accelerators for radiation market are H.B. Fuller, Henkel AG & Co. KgaA, The Dow Chemical Company, 3M, Flint Group, Arkema Group, Ashland Inc., COIM Group, Morchem, DIC Corporation, and Chemline India Ltd. Varian Medical Systems and Elekta AB are the leaders in the linear accelerators segment commanding bulk of the market share supported by continuous innovation and large installed base worldwide.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
