Radiation Therapy Market Expected to Witness a Sustainable Growth by 2026

May 18, 2020
Rohinic

Transparency Market Research (TMR) has published a new report titled, “Radiation Therapy Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global radiation therapy market was valued at US$ 5,445.3 Mn in 2017 and is projected to expand at a CAGR of 5.2% from 2018 to 2026. Increase in incidence and prevalence of cancer, technological advancements, rise in health care expenditure, surge in product approvals, and rise in demand for non-invasive treatment procedures are anticipated to augment the global market from 2018 to 2026.

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Increase in Patient Population to Propel Market

Increase in incidence and prevalence of cancer across the globe is projected to drive the global radiation therapy market during the forecast period, as radiation therapy is used in nearly 50% of all cancer treatments. Rise in the number of cancer patients across the world is anticipated to propel demand for therapeutics. According to the American Institute of Cancer Research, around 18 million cancer cases were diagnosed globally in 2018 and head & neck cancer accounted for about 4% of all cancers in the U.S. in 2017. Moreover, an estimated 65,000 individuals will develop head & neck cancer in the near future.

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