(PharmaNewsWire.Com, September 23, 2020 ) 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 market. Additionally, growing clinical trials exploring the use of IORT for various cancer applications is expected to offer lucrative growth opportunities to market players.
[123 Pages Report] The global intraoperative radiation therapy market is projected to reach USD 68 million by 2024 from USD 48 million in 2019, growing at a CAGR of 7.0% from 2019 to 2024.
1. Growing Global Prevalence of Cancer 2. Technological Advancements 3. Advantages of IORT Over EBRT
Based on method, the market is segmented into electron IORT and intraoperative brachytherapy. The electron IORT segment is expected to grow at the highest rate in the market in 2019. The growth of this segment can be attributed to the wide range of benefits associated with it, including lesser treatment time, better depth of penetration, and optimal dose homogeneity.
On the basis of product & service, the market is segmented into IORT products and services. In 2019, the products segment is expected to account for the largest market share. The larger share of this segment can be attributed to their growing availability; development of technologically advanced mobile systems/accelerators, treatment planning, and growing applications of IORT products in cancer treatment.
On the basis of application, the market is segmented into breast cancer, brain tumor, gastrointestinal cancer, head & neck cancer, and other cancers. The breast cancer application segment is expected to dominate the market during the forecast period. This can be primarily attributed to factors such as the non-invasive nature of radiotherapy, rising incidence of breast cancer, and high success rates achieved with IORT.
Geographical growth scenario of intraoperative radiation therapy market :
The Asia Pacific region is one of the major revenue-generating regions in the market. China, India, and Japan are the major countries responsible for the high growth of this regional market owing to factors such as the increasing per capita income, improving healthcare infrastructure, and supportive government activities in these emerging countries. Furthermore, increasing geriatric population, the growing incidence of cancer, and the rising acceptance of IORT procedures and devices are also driving the growth of this regional market.
ZEISS Group (Germany) and iCAD, Inc. (US) dominated the global intraoperative radiation therapy market. Other prominent players include IntraOp Medical Corporation (US), Ariane Medical Systems, Ltd. (UK), Sordina IORT Technologies S.p.A. (Italy), GMV Innovating Solutions (Spain), Sensus Healthcare, Inc.(US), Elekta AB (Sweden), Varian Medical Systems, Inc. (US), and Eckert & Ziegler Group (Germany), among others.
ZEISS is among the pioneer companies that combines 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.
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