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Key Growth Strategies Adopted by Leading Market Players in the Global Radiotherapy Market.
Radiotherapy Market categories the Global market by Product (Proton Beam, Cyberknife, LINAC, Seed, Samarium), Type (External (IGRT, IMRT, 3D-CRT), Internal (LDR, HDR) & Systemic), Application (Prostate, Breast, Cervical) & Geography"
According to a new market research report "Radiotherapy Market by Type (External (IGRT, IMRT, 3D-CRT), Internal (LDR, HDR) & Systemic), Product (Proton Beam, Cyberknife, LINAC, Seed, Samarium), Application (Prostate, Breast, Cervical), End User, and Region - Global Forecasts to 2022" published by MarketsandMarkets™, the global Radiotherapy Market is projected to reach USD 9.47 Billion by 2022 from USD 6.81 Billion in 2017, at a CAGR of 6.8%.
The radiotherapy market is witnessing the entry of many new and small market players. Major players in the market are Varian Medical Systems, Inc. (U.S.) and Elekta AB (Sweden). Analysis of the market developments between 2014 and 2017 (May) reveals that strategic partnerships and collaborations were the key growth strategies adopted by players to strengthen their market position.
Varian Medical Systems, Inc. (U.S.), is a leader in the radiotherapy market. The company provides a wide range of radiotherapy systems and brachytherapy products through which it caters to the demand of its end users in the radiotherapy market. It primarily focuses on innovations and new product launches as its key business strategy to sustain its leadership position in the global radiotherapy market. In the past three years, the company has launched a number of new radiotherapy products in the market. For instance, in October 2015, the company introduced—ProBeam, an upgradeable single-room proton therapy system that offers cost-effective treatment and full rotational pencil beam scanning. In 2015, the company introduced its VitalBeam system, a radiotherapy platform for advanced image-guided radiotherapy. With its strong product portfolio and wide geographic presence, the company is expected to grow at a high rate in the radiotherapy market during the forecast period.
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Elekta AB (Sweden) held a significant share in the radiotherapy market with its broad range of radiotherapy solutions in its product portfolio, comprising radiosurgery, brachytherapy, and external radiotherapy solutions. The company primarily focuses on partnerships and agreements to increase its sale and distribution network in order to increase its share in the global radiotherapy market. For instance, in 2016, Elekta AB entered into an agreement with Kobold Medical (U.S.) to be the exclusive distributor for Kobold Medical’s brachytherapy applicators in the U.S. In 2015, the company entered into an agreement with Amethyst Radiotherapy (Romania), to deliver advanced radiotherapy systems and services for the treatment of cancer in Western and Central Europe.
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