Image-guided radiation Therapy (IGRT) is a state-of-the-art technology that effectively targets and treats cancerous tumors by melding radiation therapy with advanced imaging methodologies. This innovative approach enhances the precision and efficacy of radiation therapy while minimizing harm to the adjacent healthy tissues. In IGRT, real-time imaging modalities like X-rays, CT scans, or MRI are harnessed to guide the delivery of radiation therapy. This enables oncologists to closely monitor and adapt a patient's treatment plan in response to changes in anatomy or tumor position during treatment.

Global Image-Guided Radiation Therapy Market was valued at US$ 1.7 Bn in 2022 and is expected to reach ~US$ 2.9 Bn by 2032, growing at a CAGR of 5.1% from 2023-2032.

Several factors, including the rising global incidence of cancer, the increasing demand for personalized treatment strategies, and ongoing advancements in imaging and radiation therapy equipment, are propelling the global IGRT market. This market encompasses a broad spectrum of components, encompassing imaging systems, software solutions, and radiation therapy machines, all of which contribute to enhancing overall patient outcomes.

However, implementing IGRT in healthcare facilities necessitates a substantial initial financial investment. This involves procuring specialized imaging-capable linear accelerators and advanced imaging devices tailored for IGRT. For many healthcare institutions, especially those in resource-limited regions or with smaller-scale facilities, these initial costs may pose a significant barrier to adoption.

COVID-19 Impact on Image-Guided Radiation Therapy Market

The COVID-19 pandemic significantly impacted the image-guided radiation therapy (IGRT) market in the short term. Due to the pandemic, many hospitals and cancer centers were forced to reduce or postpone elective procedures, including IGRT. This led to a decline in the number of IGRT procedures performed in 2020.

However, the long-term impact of the pandemic on the IGRT market is expected to be positive. The pandemic has highlighted the importance of early cancer detection and treatment, and IGRT is a key tool for both. Additionally, the pandemic has accelerated the adoption of telemedicine and other technologies to help reduce the risk of infection for patients and healthcare workers. This is expected to increase demand for IGRT in the coming years.

The pandemic also caused disruptions to the global supply chain, which made it difficult for IGRT manufacturers to obtain the components and materials they needed to produce their products. This led to delays in the delivery of IGRT equipment to hospitals and cancer centers. The pandemic also led to increased costs for IGRT providers. For example, the cost of personal protective equipment (PPE) and other supplies increased significantly during the pandemic. Additionally, IGRT providers had to incur additional costs to implement new safety measures, such as social distancing and enhanced cleaning protocols.

Factors Driving the Image-Guided Radiation Therapy Market

Drivers

Increasing cancer prevalence

As per the World Health Organization's statistics, cancer stands as a predominant global cause of mortality, responsible for nearly 10 million fatalities in the year 2020, which translates to approximately one out of every six deaths. Worldwide, the most prevalent types of cancer include breast, lung, colon and rectum, prostate, skin, and stomach cancers. According to WHO data from 2020, the primary contributor to cancer-related deaths was lung cancer, with 1.80 million fatalities, followed by colon and rectal cancer, which accounted for 916,000 deaths. Other significant contributors were liver cancer (830,000 deaths), stomach cancer (769,000 deaths), and breast cancer (685,000 deaths). Rising incidences of cancer across the globe will positively affect the industry scenario. The global cancer burden is estimated to escalate by 60% by 2040. In recent years, cancer has emerged as a leading cause of death, with increasing cases of breast cancer, prostate cancer, melanoma, and lung cancer. Driven by the growing need for cost-effective interventions, radiotherapy will continue to remain an important procedure for treating cancer patients.

The Image-guided Radiation Therapy Market is poised for substantial growth in the foreseeable future, driven by several key factors. One major catalyst is the increasing incidence of cancer and the rapid advancements in cancer treatment. This trend is expected to fuel the expansion of the IGRT market. Furthermore, the global rise in cancer patients, coupled with a growing elderly population, is projected to be a significant driver for the IGRT Market. Additionally, the market is expected to receive a boost from the increasing adoption of various radiotherapy devices and procedures and ongoing technological advancements within the industry. Moreover, the proliferation of awareness campaigns highlighting the benefits of radiotherapy will likely bolster the market in the coming years.

Furthermore, the Global Image-guided Radiation Therapy Market is expected to experience significant growth in the forecast period due to expanding opportunities in emerging markets and an increasing demand for cancer treatment. However, certain impediments and challenges may hinder market growth. Factors such as a scarcity of skilled professionals in the field and challenges in visualizing tumors are likely to act as constraints. The industry must create an environment conducive to adopting these innovative clinical procedures to realize this promising future fully. To commence this journey, the industry should focus on developing new technologies and more intelligent devices that grant physicians immediate access to all pertinent information.

Challenge

Affordability and accessibility of treatment

Image-guided radiation therapy (IGRT) is a more advanced and precise form that uses medical imaging to track tumors and deliver radiation doses with greater accuracy. This can lead to better patient outcomes but also comes at a higher cost. IGRT equipment is more expensive than traditional radiation therapy equipment. This is because IGRT equipment must be able to produce high-quality images in real-time. IGRT requires specially trained staff to operate and maintain the equipment. This can add to the overall cost of IGRT treatment. IGRT treatments typically take longer than traditional radiation therapy treatments. This is because IGRT requires imaging before and during each treatment to ensure the radiation is delivered accurately. New IGRT technologies are constantly being developed, which can be expensive. For example, new imaging techniques and software can make IGRT more accurate and efficient, but they also come at a cost. Despite the high cost, IGRT is often the best treatment option for many patients. IGRT can help to improve patient outcomes and reduce the risk of side effects. Additionally, the cost of IGRT is expected to come down as new technologies are developed, and the market becomes more competitive.

Opportunity

Rising healthcare expenditure

Rising healthcare expenditure is a global trend, with healthcare costs increasing faster than economic growth in many countries. In the United States, healthcare spending accounted for 18.3% of GDP in 2021, up from 17.9% in 2020, and the average American spent $12,914 on healthcare in 2021. Healthcare spending in the United States is projected to reach $6.2 trillion by 2028. Rising healthcare expenditure refers to the increasing amount of money spent on healthcare-related services and goods within a given country or region over a specific period. Several factors contribute to this phenomenon: are aging population and the prevalence of chronic diseases, such as diabetes, cardiovascular diseases, and cancer, is on the rise globally. These conditions often require long-term medical care and expensive treatments, increasing healthcare costs. For instance, the World Health Organization (WHO) reports that non-communicable diseases account for 71% of all global deaths.

The increase in healthcare expenditure in developing nations results from a multifaceted interplay of factors, including shifting demographics, disease patterns, enhanced infrastructure, technological progress, and the expansion of the healthcare workforce. This intricate interrelationship melds the healthcare environment and influences how financial resources are allocated for healthcare services and treatments. In this context, image-guided radiation therapy (IGRT) emerges as a strategic solution equipped with advanced capabilities that are in harmony with the evolving requirements of healthcare.

Image-Guided Radiation Therapy Market Segmentation 

By Product

Regarding product categories, the image-guided radiation therapy (IGRT) market is divided into several segments, including 4D gating/4D RT, CT scanning, LINAC (linear accelerator), PET/MRI-guided radiation therapy, and portal imaging. Among these, the PET/MRI-guided radiation therapy product segment is expected to exhibit a notable growth rate during the forecast period spanning from 2022 to 2028.

The integration of PET/MRI in radiation therapy facilitates prompt assessment of treatment responses, enabling healthcare providers to make swift adjustments. This capability not only enhances treatment outcomes but also augments the precision of interventions. The availability of real-time insights supports informed decision-making, elevating the prominence of IGRT and aligning it with patient-centric values. This synergy between PET/MRI and IGRT positions them as integral components of progressive cancer care.

By Procedure

By procedure, the image-guided radiation therapy (IGRT) market is categorized into IMRT, particle, stereotactic, and others. The stereotactic procedure holds the highest market share in the global market. Stereotactic therapy's efficiency and streamlined approach align with IGRT, improving patient satisfaction and adherence and contributing toward its market position as an essential cancer care modality.

By Application

In terms of application, the image-guided radiation therapy (IGRT) market is categorized into various segments, including prostate, breast, lung, head and neck cancer, gynecological cancer, gastrointestinal cancer, and other applications. IGRT plays a pivotal role in facilitating the management of complex prostate cancer cases through non-invasive techniques.

The integration of IGRT into prostate cancer treatment is well-supported by its ability to navigate the intricacies of prostate anatomy, reduce uncertainties associated with treatment, tailor treatment plans to individual patients, and align with evolving therapeutic approaches. This combination of attributes significantly enhances the prominence and progress of IGRT in the context of prostate cancer applications, bolstering its strategic position within the broader landscape of radiation therapy.

By End User

In terms of application, the global market for image-guided radiation therapy (IGRT) is categorized into two segments: hospitals and independent centers. Hospitals currently hold the predominant share in this market, primarily due to the escalating prevalence of cancer and the growing demand for IGRT services. Hospitals are deemed highly suitable for delivering IGRT due to their access to a proficient workforce, advanced equipment, experienced oncology radiologists, and a well-established healthcare infrastructure.

Meanwhile, independent centers are poised to emerge as a promising segment in the coming years. This shift is driven by increasing patient awareness regarding treatment options for various cancer types and bolstered by government initiatives aimed at enhancing survival rates among patients diagnosed with different forms of cancer. These factors are expected to contribute to the accelerated growth of this segment shortly.

By Regions

By region, the market is divided into North America, Europe, APAC, and Others. Others are further divided into the Middle East and South America.

North America accounts for the largest global image-guided radiotherapy market due to the huge patient population and increasing medicinal services consumption. In addition, increasing awareness among the population and well-created innovation have fuelled market development.

Europe is the second biggest market and holds a noticeable share of the global image-guided radiotherapy market. The European market is expected to grow significantly during the forecasted time frame due to the accessibility of cutting-edge treatment facilities, skilled technical professionals, and government support for research and advancement. Asia Pacific records for the quickest developing business sector attributable to the increasing prevalence of malignancy, rising awareness about the disease, and accessibility of new treatment techniques. Middle East and Africa must demonstrate minimal development in this market because of a lack of awareness, constrained advancement in medicinal services innovation, and accessibility of treatment facilities.

Competitive Landscape

This research report will offer valuable insights, primarily focusing on the worldwide market. It will highlight key participants, including prominent companies such as ViewRay, General Electric Company, Hitachi, Siemens AG, Koninklijke Philips, Toshiba Corporation, Varian Medical Systems, Vision RT Ltd, Scranton Gillette Communications, XinRay Systems, C-Rad, Yamazaki Mazak Corporation, Datron Amada Co. Ltd., among others.

Recent Developments in the Image-Guided Radiation Therapy Market

• In April 2023, the introduction of Pixxoscan expands GE HealthCare's portfolio of Magnetic Resonance Imaging (MRI) contrast agents, giving customers access to two leading macrocyclic molecules: Clariscan (gadoteric acid) and Pixxoscan (gadobutrol).
• In 2023, Philips expanded its range of mobile C-arm solutions by introducing Zenition 10.
• In 2023, GE Healthcare improved PET/MR capabilities through AIR Technologies to enhance diagnostic accuracy, simplify treatment assessment, and elevate patient comfort.
• In March 2022, Chonnam National University Hwasun Hospital unveiled and commenced full-scale treatment with the most recent radiation therapy system, Halcyon 3.0. Halcyon 3.0 represents an advanced radiation cancer treatment apparatus capable of conducting intensity-modulated radiation therapy guided by real-time imaging, signifying state-of-the-art technology in the field.

Table of Contents

1. Executive summary
2. MARKET INTRODUCTION
   • MARKET SCOPE
   • MARKET Definitions
3. research methodology
4. market outlook
   • Key Trends
   • GUIDELINES / REGULATIONS
   • COVID-19 IMPACT ON GLOBAL IMAGE-GUIDED RADIATION THERAPY MARKET
   • MARKET DYNAMICS
     • Drivers
       • Rising cancer patient population
       • Government initiatives for cancer management
       • Increase in non-invasive cancer treatments through radiation therapy
     • Restraints
       • Affordability and accessibility of treatment
     • Opportunities
       • Rising healthcare expenditure
     • Challenges
       • Availability of alternative technology
     • PriCing Analysis
     • PORTER’S FIVE FORCE MODEL
       • Threat of new entrants
       • Threat of substitute
       • Bargaining power of suppliers
       • Bargaining power of buyers
       • Intensity of competitive rivalry

5. GLOBAL IMAGE-GUIDED RADIATION THERAPY MARKET, By PRODUCT, MARKET ESTIMATION AND FORECAST, 2022-2032), value (USD million)
   • INTRODUCTION
   • MARKET SHARE ANALYSIS
   • 4D radiation therapy
   • LINAC
   • MRI-Guided Radiotherapy
   • Portal Imaging
   • CT Scanning
6. GLOBAL IMAGE-GUIDED RADIATION THERAPY MARKET, By Procedure, MARKET ESTIMATION AND FORECAST, 2022-2032), value (USD million)
   • INTRODUCTION
   • MARKET SHARE ANALYSIS
   • IMRT
   • Stereotactic
   • particle
   • Others
7. GLOBAL IMAGE-GUIDED RADIATION THERAPY MARKET, BY application, MARKET ESTIMATION AND FORECAST, 2022-2032, value (USD million)
   • INTRODUCTION
   • MARKET SHARE ANALYSIS
   • Head & neck Cancers
   • prostate Cancer
   • breast cancer
   • gynecological cancers
   • gastrointestinal cancers
   • Others
8. GLOBAL IMAGE-GUIDED RADIATION THERAPY MARKET, BY End-User, MARKET ESTIMATION AND FORECAST, 2022-2032, value (USD million)
   • INTRODUCTION
   • MARKET SHARE ANALYSIS
   • hospitals
   • independent Centers
9. GLOBAL IMAGE-GUIDED RADIATION THERAPY MARKET, REGIONAL ANALYSIS MARKET ESTIMATION AND FORECAST, 2022-2032, value (USD million)
   • INTRODUCTION
   • NORTH AMERICA IMAGE-GUIDED RADIATION THERAPY MARKET
     • North America Image-Guided Radiation Therapy Market, By Country
       • US
       • Canada
       • Mexico
     • North America Image-Guided Radiation Therapy Market, By Product
     • North America Image-Guided Radiation Therapy Market, By Procedure
     • North America Image-Guided Radiation Therapy Market, By Application
     • North America Image-Guided Radiation Therapy Market, By End-User
   • EUROPE IMAGE-GUIDED RADIATION THERAPY MARKET
     • Europe Image-Guided Radiation Therapy Market, By Country
       • Germany
       • UK
       • France
       • Italy
       • Spain
       • Russia
       • Rest of Europe
     • Europe Image-Guided Radiation Therapy Market, By Product
     • Europe Image-Guided Radiation Therapy Market, By Procedure
     • Europe Image-Guided Radiation Therapy Market, By Application
     • Europe Image-Guided Radiation Therapy Market, By End-User
   • ASIA PACIFIC IMAGE-GUIDED RADIATION THERAPY MARKET
     • Asia Pacific Image-Guided Radiation Therapy Market, By Country
       • China
       • Japan
       • India
       • Australia
       • Singapore
       • South Korea
       • Thailand
       • Indonesia
       • Malaysia
       • Philippines
       • Rest of Asia Pacific
     • Asia-Pacific Image-Guided Radiation Therapy Market, By Product
     • Asia-Pacific Image-Guided Radiation Therapy Market, By Procedure
     • Asia-Pacific Image-Guided Radiation Therapy Market, By Application
     • Asia-Pacific Image-Guided Radiation Therapy Market, By End-User
   • MIDDLE EAST & AFRICA IMAGE-GUIDED RADIATION THERAPY MARKET
     • Middle East & Africa Image-Guided Radiation Therapy Market, By Country
       • UAE
       • Saudi Arabia
       • South Africa
       • Rest of Middle East & Africa
     • Middle East & Africa Image-Guided Radiation Therapy Market, By Product
     • Middle East & Africa Image-Guided Radiation Therapy Market, By Procedure
     • Middle East & Africa Image-Guided Radiation Therapy Market, By Application
     • Middle East & Africa Image-Guided Radiation Therapy Market, By End-User
   • SOUTH AMERICA IMAGE-GUIDED RADIATION THERAPY MARKET
     • South America Image-Guided Radiation Therapy Market, By Country
       • Brazil
       • Argentina
       • Peru
       • Rest of South America
     • South America Image-Guided Radiation Therapy Market, By Product
     • South America Image-Guided Radiation Therapy Market, By Procedure
     • South America Image-Guided Radiation Therapy Market, By Application
     • South America Image-Guided Radiation Therapy Market, By End-User

10. GLOBAL IMAGE-GUIDED RADIATION THERAPY MARKET, COMPETITIVE Intelligence
    • COMPETITIVE POSITIONING
    • competitor benchmarking
    • Competitive Quadrant
    • market share analysis, 2022 (%)
11. GLOBAL IMAGE-GUIDED RADIATION THERAPY MARKET, COMPANY ANALYSIS
    • Accuracy
      • Company Overview
        • Business outlook
        • Headquarter
        • Established/Incorporated
        • Headcounts/ Employee strength
      • Financial Overview
        • Sales/revenue
        • R&D expenditure
        • Business segment sales share
        • Regional sales share
      • Product Offerings
      • SWOT Analysis
      • Key Developments (Expansion/New Product Development/Agreement/Mergers & Acquisitions, Partnership/Investment/Etc.)
    • AEP LINAC
    • ASG SUPERCONDUCTORS
    • BECTON DICKINSON and Company
    • C-RAD
    • ELEKTA
    • GALBINO TECHNOLOGY
    • GENERAL ELECTRIC HEALTHCARE COMPANY
    • HITACHI
    • IBA WORLWIDE
    • IZI MEDICAL
    • KONINKLIJKE PHILIPS
    • PANACEA MEDICAL TECHNOLOGY
    • REFLEXION
    • SIEMENS AG
    • TOSHIBA CORPORATION
    • VARIAN MEDICAL SYSTEMS
    • VIEWRAY TECHNOLOGIES INC.
    • VISION RT LTD.
    • XSTRAHL
    • OTHERS

*Financials and Details May Not be Included in Case of Privately Held Company

Global Image-Guided Radiation Therapy Market Segmentation

Image-Guided Radiation Therapy by Type: Market Size & Forecast 2023-2030

• Image-guided Intensity-Modulated Radiation Therapy (IG-IMRT)
• Image-guided Stereotactic Radiosurgery (IG-SRS)
• Image-guided Brachytherapy
• Image-guided Proton Therapy

Image-Guided Radiation Therapy by Application: Market Size & Forecast 2023-2030

• Lung cancer
• Prostate cancer
• Head and neck cancer
• Breast cancer
• Other cancers

Image-Guided Radiation Therapy by Technology: Market Size & Forecast 2023-2030

• Fluoroscopy
• Computed tomography (CT)
• Magnetic resonance imaging (MRI)
• Positron emission tomography (PET)
• Combined modalities

Image-Guided Radiation Therapy by End User: Market Size & Forecast 2023-2030

• Hospitals
• Cancer centers
• Private clinics

Image-Guided Radiation Therapy by Geography: Market Size & Forecast 2023-2030

• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
• South America (Brazil, Argentina, Columbia, Rest of South America)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Major Players:

• Varian Medical Systems, Inc.
• Elekta AB
• Accuray Incorporated
• ViewRay, Inc.
• Siemens Healthineers AG
• IBA Worldwide
• C-RAD AB
• Brainlab AG
• Vision RT Ltd.
• Mevion Medical Systems
• Hitachi, Ltd.
• Canon Medical Systems Corporation
• Accuray Incorporated
• RaySearch Laboratories AB
• Xcision Medical Systems, LLC
• RefleXion Medical, Inc.
• Nanobiotix
• Sumitomo Heavy Industries, Ltd.
• Theragenics Corporation (Eckert & Ziegler BEBIG)
• Mirada Medical
• Spectrum Dynamics Medical
• ProTom International, Inc.
• IntraOp Medical Corporation
• Boston Scientific Corporation
• Sensus Healthcare, Inc.