Intraoperative Radiation Therapy Market Worth USD 66 Million : Growing Applications Of IORT

Summary

• What This Report Will Provide?
• Expected Revenue Growth.
• Major Growth Boosters.

What This Report Will Provide?

This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, fundamental market dynamics, and key player strategies.

Expected Revenue Growth:[159 Pages Report]

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.

Major Growth Boosters:

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.

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COVID-19 Impact on the global Intraoperative radiation therapy market

The intraoperative radiation therapy market was significantly impacted by the COVID-19 pandemic. Various screening, diagnostic, and surgical procedures were restricted or postponed at hospitals and cancer treatment centers, which resulted in disruptions in the cancer diagnosis as well as treatment market. The pandemic also impacted the availability of healthcare resources. Major regulatory authorities across the globe, such as the CDC, WHO, MHRA, TGA, and EMA, have identified cancer patients at a greater risk of contracting coronavirus disease than healthy adults. In order to reduce the burden on the patient and staff while reducing the risk of exposure, few alternate dose-fractionation regimens were suggested by regulatory authorities.

Recent Developments

• In 2020, Elekta AB launched Geneva, a universal gynecological applicator for brachytherapy.
• In 2019, Varian acquired Cancer Treatment Services International (OTC:CTSI), a US-based oncology solutions division that provides cancer care professional services to healthcare providers worldwide. The acquisition expanded Varian’s access to technology-driven cancer care .
• In 2018, Varian launched the Bravos afterloader system for high-dose-rate (HDR) brachytherapy treatments

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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.

Regional Growth Analysis:

Geographically, North America is expected to dominate the global the protein A resin market in 2019, while the Asia Pacific region is expected to register the highest CAGR during the forecast period. The high growth in this region can be attributed to the increased R&D activities, as APAC has emerged as a key pharmaceutical and biopharmaceutical research hub. Considering this, a number of key pharmaceutical and biopharmaceutical companies have set up their research centers in the region. Also, local major players such as Ranbaxy, Dr. Reddy’s, Cipla, Lupin, and Cadila are actively involved in research on biosimilars and generic drugs.