Intraoperative Radiation Therapy Market
Number of pages: 100 | Report Format: PDF | Published date: February 03, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 54.58 million |
|
Revenue Forecast in 2030 |
US$ 91.74 million |
|
CAGR |
5.9% |
|
Base Year for Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Technology, Application, Products & Services, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
Intraoperative Radiation Therapy Market Report Overview
According to the deep-dive market assessment study by Growth Plus Reports, the global intraoperative radiation therapy market was valued at US$ 54.58 million in 2021 and is expected to register a revenue CAGR of 5.9% to reach US$ 91.74 million by 2030.
Intraoperative Radiation Therapy Market Fundamentals
Radiation therapy is one of the most common types of cancer treatment. It pinpoints and destroys cancer cells using high-energy X-rays. Cancer cells are damaged using radiation, forcing them to cease replicating. 3D conformal radiation therapy, intensity-modulated radiation therapy (IMRT), volumetric modulated radiation therapy (VMAT), image-guided radiation therapy (IGRT), stereotactic radiosurgery (SRS), brachytherapy, superficial X-ray radiation therapy (SXRT), and intraoperative radiation therapy (IORT) are all examples of radiation therapy.
IORT is a high-dose radiation treatment provided during surgery. Direct radiation to the target area is possible with IORT, while normal surrounding tissue is spared. Surgeons can more readily protect adjacent normal tissues from radiation with this approach. IORT is used to treat difficult-to-eradicate malignancies through surgery and when minuscule quantities of malignancy may remain. IORT is effective in several tumors and malignancies, including recurrent colorectal cancer, recurrent gynecological cancers, and soft-tissue tumors. Due to the possibility of completing the whole course of radiation during surgery, it has recently emerged as a preferred therapeutic option for many early-stage breast malignancies. IORT is also frequently utilized with external beam radiation (EBRT), resulting in lower integral doses and shorter treatment periods.
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Intraoperative Radiation Therapy Market Dynamics
The global intraoperative radiation therapy market is expected to be driven by a rise in cancer incidence and prevalence rate. According to the American Cancer Society magazine, there were 1.9 million new cancer cases diagnosed and 608,570 cancer deaths in the United States in 2021. The intraoperative radiation therapy market is expected to grow at a significant revenue CAGR during the forecast period due to increase in demand for highly efficient radiation therapy systems for cancer treatment and a rise in product approvals.
Leading players are concentrating on advancing intraoperative radiation treatment techniques, which is expected to help the market develop over the coming years. As nuclear medicines, such as radiation, are increasingly employed in cancer treatment, need for nuclear medicine radioisotopes is rising, thereby driving the intraoperative radiation therapy market revenue growth.
However, the lack of skilled personnel to operate the equipment and preference for conventional radiotherapy over IORT hinders the revenue growth of the market. A high level of accuracy is needed at every step of the process to achieve maximum tumor control and ensure minimal risk to normal tissue. Procedure errors can occur due to interconnectivity issues between different treatment planning and delivery and monitoring systems, thus increasing the risks for patients.
Intraoperative Radiation Therapy Market Ecosystem
The global intraoperative radiation therapy market has been analyzed from four perspectives: technology, application, products & services, and region.
Intraoperative Radiation Therapy Market by Technology
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Based on the technology, the global intraoperative radiation therapy market is segmented into electron intraoperative radiation therapy and intraoperative brachytherapy.
The electron intraoperative radiation therapy segment dominated the market with the largest revenue share in 2021, owing to a wide range of benefits of the technology, including reduced treatment time, increased penetration depth, and optimum dosage homogeneity.
The delivery of electron radiation directly to the remaining tumor or tumor bed following cancer surgery is known as electron intraoperative radiation treatment. As the dosage goes off fast after the target location depending on the electron energy, electron beams are helpful for IORT, preserving underlying healthy tissue. One benefit of electron IORT is that it may be administered during surgery when the tiny remaining tumor cells are most sensitive to eradication. In addition, it is frequently utilized in conjunction with external beam irradiation, resulting in fewer total doses and shorter treatment periods. For instance, as per the Electron IORT: Intraoperative Radiation Therapy factsheet published in July 2022, Radiation therapy entailed a time-consuming and inaccurate external technique that put a patient’s healthy tissue and organs in more serious danger. Before or after the surgical operation, indirect dosages of radiation were provided. Electron intraoperative radiation treatment transformed the old therapeutic concept by delivering radiation during the surgical procedure. It is safer and more precise, and it saves both the hospital and the patient time. Aside from that, clinical evidence shows that effective outcomes with IORT are just more consistent. As a result, the benefits associated with electron intraoperative radiation treatment are driving segment expansion.
Intraoperative Radiation Therapy Market by Application
Based on the application, the global intraoperative radiation therapy market is segmented into breast cancer, brain tumor, gastrointestinal cancer, head and neck cancer, and others.
The breast cancer segment accounted for the principal revenue share of the market in 2021, attributed to factors such as radiotherapy’s non-invasive nature, growing prevalence of breast cancer, and high success rates attained with IORT. For instance, according to the WHO, there were 2.3 million women diagnosed with breast cancer in 2020, with 6,85,000 deaths worldwide, and by 2020, 7.8 million women had been diagnosed with breast cancer in the previous five years, making it the world’s most common malignancy.
Intraoperative Radiation Therapy Market by Products & Services
Based on the products & services, the global intraoperative radiation therapy market is segmented into accelerators, planning systems, applicators, afterloaders, and accessories.
The accelerators segment accounted for the biggest market revenue share in 2021, owing to their status as the primary and most widely used treatment equipment. Linear accelerators use high-energy radiofrequency electromagnetic waves to accelerate charged subatomic particles along a linear path. The primary components of these accelerators are a modulator, gantry, electron gun, RF power source, and accelerator guide. Linear accelerators can help IMRT, IGRT, 3D conformal radiation (3D-CRT), and stereotactic technologies. Linear accelerators are considered the most modern radiotherapy technologies, generating and distributing radiation accurately in important treatments, such as intensity-modulated radiation therapy and IORT. These factors are predicted to fuel revenue growth in the accelerators segment during the forecast period.
Intraoperative Radiation Therapy Market by Region
Based on the region, the global intraoperative radiation therapy market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominated the global intraoperative radiation therapy market in 2021, due to a well-established healthcare infrastructure, increase in the focus of regional market players on cancer therapeutics research & development, product launches, rising burden of various cancers, and high adoption of IORT for cancer treatment in the region. According to the American Cancer Society, the expected number of new cancer cases in 2021 was about 1.9 million. The same source predicted that the number of new cancer cases in 2022 would be 2.2 million.
Intraoperative Radiation Therapy Market Competitive Landscape
The prominent players operating in the global intraoperative radiation therapy market are:
Intraoperative Radiation Therapy Market Strategic Developments
The intraoperative radiation therapy market is expected to be valued at US$ 91.74 million by 2030.
The global intraoperative radiation therapy market is expected to register a revenue CAGR of 5.9% during the forecast period from 2022 to 2030.
The lack of skilled personnel to operate the equipment and preference for conventional radiotherapy over IORT are the factors restricting the global market revenue growth to its full potential.
The increasing number of cancer cases, product approvals, and continuous advancements in technology are the factors driving the market revenue growth.
Carl Zeiss MEDITEC AG, IntraOp Medical Inc., Ariane Medical Systems Ltd., Eckert & Ziegler, and Varian Medical Systems Inc. are among the leading companies operating in the global market.
*Insights on financial performance are subject to the availability of information in the public domain