The radiotherapy market is increasing due to many factors, like an increase in the number of new cancer cases and technological progress in the hardware and software used in radiotherapy. The current foreign markets are underequipped to address new cases of cancer. In low- and middle-income countries, only 10 percent of the population has access to radiotherapy. Therefore, there exists a wide gap between the need and the installed base of equipment, which provides a huge chance for the companies to grow from the radiotherapy marketplace. Expansion of the radiotherapy market could be both lifesaving and rewarding.
Effective planning for the treatment
It is necessary, and continuous technological developments are taking place to lessen the exposure to radiation of healthy tissue, in order to avoid any side effect. Software plays an increasingly important role in cancer care. The software & services section includes software, which is used for treatment planning, analysis, and services, which are required for the maintenance and efficient use of radiotherapy devices. The software & services segment of these businesses are expected to grow, as software products help improve health care engagement and clinical knowledge-sharing, patient care management, and the management of cancer clinics, radiotherapy facilities, and oncology practices for better performance. Companies like Varian are always increasing their software portfolio. Software plays an increasingly important role in cancer care. At exactly the same time, healthcare systems are subject to harsh budgetary limitations in just about any country. To achieve this goal, hospitals have a strong need for software platforms which make radiotherapy treatment cost-effective. The development of effective software will improve the delivery of advanced radiotherapy in the future.
Technology is another salient feature. Radiation therapy remains a significant modality for cancer therapy, which is the key driving factor for the designing of new techniques to improve the survival rate of cancer patients. New technologies, like proton beam treatment, are available in developed countries like the United States, Germany, and United Kingdom, because of well-established reimbursement policies. Proton therapy may be used on tissues which are highly sensitive, like brain, spine, and eye tumors. It is more accurate, as compared to other X-ray radiation therapies.
Advancement from the technology is also helping to execute the planning of the radiation treatment.
Technological advancement in existing technologies, such as CT imaging, is creating imaging more accurate and consistent. Already-existing technology, such as IMRT, SBRT, IGRT, conformal 3D, VMAT, and many others that are used for radiation therapy treatment is undergoing a variety of advancements. For example, Varian is developing a software, which can be used to develop better planning tools, in which statistical models can be used to compute the attribute of an IMRT treatment for a patient. This is predicted to boost the use of IMRT for treating cancer. IGRT is the sort of radiotherapy. Research is more focused on IGRT, to be able to show its fewer side-effects. IGRT may consist of electronic portal imaging, fluoroscopy, ultrasound, CT scan reconstruction, and respiratory gating technology. SBRT is also growing as an alternative for treating cancer. SBRT is used to escalate the dose to the targeted tumor, which can increase local management while limiting the dose to nearby critical structures and normal tissues.
Internal radiation therapy holds a low share in the radiotherapy market. Containing Yttrium 90, a radioactive material, this is also an emerging technology. There are only two manufacturers that offer commercialized forms of SIRT, as of April 2015. SIRT has become more of a mainstream therapy; other manufacturers are actively looking toward its marketing, leading to the growth of the inner radiation therapy segment. However, SIRT is not yet widely available in the United Kingdom.
Internal radiation therapy is more precise in targeting cancerous cells as it’s placed near a tumor, which reduces the risk of damaging healthy cells and organs, thereby contributing to the growth of the internal radiation therapy market segment.
To increase the market share, companies are continuously investing in R&D. The positive results of the extensive R&D and strategic partnerships can help the companies gain a significant increase from the emerging field of radiotherapy.