Energy-Based Cancer Treatment Market 2021 | Latest Technological Advancement, Industry Trends, Competitive Landscape, Explosive Factors of Revenue by Key Vendors Size Forecast Analysis 2030

In a recent published report, Kenneth Research has updated the market report for Energy-Based Cancer Treatment Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Energy-Based Cancer Treatment Market products.

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Kenneth Research has recently added a report titled Energy-Based Cancer Treatment Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.

According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.

Energy-Based Cancer Treatment Market: Introduction
Energy-Based Cancer treatment uses various beams of intense energy obtained from X-rays and other radioactive rays to kill cancer cells, by damaging cell DNA directly or by creating charged particles within the cell. Increasing utilization of energy-based cancer therapies like radiation therapy, in the recent years, is expected to boost the energy-based cancer treatment market, during the forecast period.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

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Market Dynamics:

The energy-based cancer treatment market is projected to grow significantly, during the forecast period, attributed to their efficacy to kill cancer cells, coupled with rising incidences of cancer cases across the globe. According to World Health Organization (WHO), in 2015, 8.8 million people died globally due to cancer. Technological advancements and developments of radio-based medical instruments like Gamma Knife and Tomotherapy is expected to play significant role in the growth of energy-based cancer treatment.

According to The Gamma Knife Center (situated at The Valley Hospital, U.S.), every year around 70,000 patients undergo Gamma Knife surgery and the success rates are extremely high.

Furthermore, government inititatives, coupled with rising healthcare expenditure are further expected to boost the energy-based cancer treatment market. In 2017, Australian Government invested US$ 35.5 million in the Australian Brain Cancer Mission.

However, high costs of energy-based cancer treatment, coupled with potential side-effects such as infertility, fatigue, skin problems, etc, associated with energy-based treatment might hinder the growth of energy-based cancer treatment market. The average cost of a course of radiation therapy ranges between US$ 8,600 to US$ 18,000.

By Treatment Type:

Energy-based cancer treatment is broadly segmented into invasive and non-invasive treatment. Non-invasive cancer treatment, which mainly consists of external beam radiation therapy (EBRT), is projected to grow significantly during the forecast period, due to development of a number of EBRT techniques and devices such as 3D-CRT, GammaKnife, LINAC, CyberKnife, IMRT, and proton beam radiation therapy.

Among these, 3-Dimensional conformal radiation therapy (3D-CRT) is expected to rise enormously, due to its efficacy in precisely mapping the location where the cancer cells are present thereby targeting them without damaging the healthy cells. Invasive treatment that mainly consists of internal radiation therapy and systematic radiation therapy is expected to gain traction, due to their increased usage in the treatment of cervical and other gynecological cancer types.

By Source of Energy:

X-rays are the widely used source of energy that is used in the radiation therapy to treat cancer, due to their higher penetration power and ability to disrupt cancer cells. X-rays will dominate the energy-based cancer treatment market, due to their non-invasive and painless nature of treatment. The lesser side effects caused by them as compared to chemotherapy and other surgical methods are also anticipated to drive the growth of X-rays in the forecast period.

By Application:

The higher prevalence of prostate and breast cancer is anticipated to drive the energy-based cancer treatment market. According to the NCBI, prostate cancer is the most common cancer in men and radiotherapy is extensively used in the treatment of this cancer type. According to UCLA Urology, Intensity Modulated Radiation Therapy (IMRT) is the widely used energy-based treatment used in treating prostate and Breast Cancer.

Regional Insight:

North America is expected to hold the major revenue share in the global energy-based cancer treatment market, due to improved healthcare infra-structure and facilities in U.S. Higher prevalence of cancer incidences, coupled with the presence of key market players like Mevion Medical Systems and Accuray Inc. in this region will further enhance the energy-based cancer treatment market over the projected period.

According to American Cancer Society, about 609,640 Americans are expected to die because of cancer, in 2018. The energy-based cancer treatment market in Asia-Pacific is also expected to grow during the forecast period, due to rise in number of cancer patients, coupled with government programs for the treatment and prevention of cancer in the region.

According to the Cancer Atlas website, produced by the American Cancer Society, the Union for International Cancer Control and the International Agency for Research on Cancer, 44% of cancer cases are reported from Asia and China represents majority of the cancer burden.

Competitive Landscape

Key market players operating in Energy-Based Cancer Treatment market include IsoRay Inc., Mevion Medical Systems, Elekta AB, Ranor Inc., Hitachi Medical Systems Europe, NTP Radioisotopes, Siemens Healthcare, Accuray Inc., ProTom International and IBA Worldwide.

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Major market players are focusing on international merger and acquisition activities to enhance their global reach as well as to strengthen their specialty brand segment. For instance, In September 2015, Therakos, Inc. was acquired by Mallinckrodt Public Limited, which will expand their business across the globe, and also strengthen their specialty brand segment.

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Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.

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