A report by Global Data, pharma industry analysts claim that the radiation therapy devices market is growing with the increasing global number of cancer patients. The report states that the increasing number of cancer patients are due to a rising elderly population and the increased consumption of tobacco, especially in developing nations like China.
Therefore, there is a larger demand for cancer treatments which in turn would cause the worldwide radiation therapy market to grow from a value of under $2 billion in 2011, to $3.6 billion in 2018, at a CAGR of 9.1 per cent.
The penetration of linear accelerator machines and other radiation therapy devices is very less in countries such as China and India, but as awareness and purchasing power increase with the number of cancer patients, this is expected to change.
Equipment sales in traditional markets like the US and Europe, however, are expected to be propelled by replacement orders as people expect better and more efficient cancer treatments. In the global external beams therapy systems market, California-based Varian Medical Systems, Elekta AB, Accuray/ Tomotherapy and Siemens Healthcare are some of the major players.
EH News Bureau
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