Intraoperative Radiation Therapy Market worth $66 million by 2025 – Growing Global Prevalence of Cancer

PUNE, India, 2021-Aug-11 — /EPR Network/ —

The Key Growth Elements in Detailed?

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 intraoperative radiation therapy market. Additionally, growing clinical trials exploring the use of IORT for various cancer applications is expected to offer lucrative growth opportunities to market players.

Worldwide Growth Opportunities in Terms of Revenue: The Global Intraoperative Radiation Therapy Market is projected to reach USD 66 million by 2025 from USD 48 million in 2020, at a CAGR of 6.4% during the forecast period

Driver: Growing global prevalence of cancer;

The IORT procedure is associated with various advantages such as targeted radiation, limited treatment time, high precision and radiation control, and minimal radiation exposure of normal tissue. This is especially true for breast cancer, as this mode offers women a choice of breast-sparing treatment (lumpectomy). The increasing prevalence of breast cancer is, therefore, a key factor driving the market growth. The growing prevalence of cancer will increase the adoption of IORT procedures. Some key statistics in this regard have been mentioned below:

• In 2020, 276,480 new cases of invasive breast cancer and 48,530 new cases of non-invasive breast cancer were reported in the US (Source: Breastcancer.org).
• In 2018, around 17.0 million new cases of cancer were reported worldwide; this figure is expected to reach 27.5 million by 2040 (Source: International Agency for Research on Cancer).
• According to the American Cancer Society, in 2018, around 1.8 million new cases of cancer were diagnosed in the US.

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Regional Growth, Development and Demand Analysis:

The intraoperative radiation therapy market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The North American region is expected to account for the largest share of the radiation therapy market in 2019. The growth in this market is mainly attributed to the increasing healthcare expenditure in the region, technological advancements, and high adoption of IORT products owing to the increasing incidence of cancer.

Major Key Players Mentioned in the research report are:

The major players operating in the intraoperative radiation therapy market are ZEISS Group (Germany), iCAD, Inc. (US), Eckert & Ziegler (Germany), Elekta AB (Sweden), GMV Innovating Solutions (Spain), Sensus Healthcare, Inc. (US), IntraOp Medical, Inc. (US), Isoray, Inc. (US), Becton, Dickinson and Company (US), Sordina IORT Technologies (Italy), Varian Medical Systems, Inc. (US), SeeDos Ltd. (UK), IsoAid LLC (US), Ariane Medical Systems Ltd. (UK), Panacea Medical Technologies Pvt. Ltd. (India), Salutaris Medical Devices (US), Brainlab AG (Germany), RaySearch Laboratories (Sweden), REMEDI Co., Ltd. (South Korea), Merit Medical Systems, Inc. (US), among others.

ZEISS is among the pioneer companies that combined surgery with radiotherapy to develop and introduce intraoperative radiation therapy to the cancer treatment field. The flagship product of the company, INTRABEAM, is one of the most widely used IORT products across the globe. INTRABEAM is a revolutionary, intraoperative form of radiation therapy for early-stage breast cancers. It allows radiation treatment and breast-conserving surgery to be performed simultaneously. As a result, the need for several weeks of external radiation therapy following surgery can often be minimized or eliminated. The strong foothold of the company in the intraoperative radiation therapy market can be attributed to its wide geographic reach. ZEISS has a direct presence in almost 50 countries and more than 30 production sites and 25 R&D facilities. ZEISS has a sound custom services support set up, which helps it to strengthen its customer relationships and presence in the market.

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