The worldwide radiation therapy equipment market is expected to reach $3.9 billion by 2015, according to a report recently published by market research firm Global Industry Analysts (GIA).
The market will be driven by emerging demand from new economies such as Asia-Pacific, Eastern Europe, and Latin America, as well as by enhanced replacements and the release of new applications, according to the San Jose, CA-based firm. An aging population, increasing life expectancies, and the rising incidence of cancer continue to add to global demand for radiation therapy, GIA said.
The U.S., Western Europe, and Japan have a combined 80% share of the worldwide radiation therapy market. Growth in these relatively mature markets will be driven by the advent of precise conformal technologies, according to GIA.
As for the emerging markets of Asia-Pacific, Eastern Europe, and Latin America, growth is expected to be powered by increased replacements and the emergence of additional applications, GIA said. The Asia-Pacific treatment planning systems market is estimated to be $54 million for 2008.
In the U.S., the radiation therapy market is expected to grow, driven by the enhanced adoption of treatment methods such as image-guided radiation therapy and stereotactic radiation therapy, favorable reimbursement levels, and increasing competition among hospitals, GIA said. The U.S. linear accelerator market is expected to reach $750 million by 2010.
Germany is the largest market for European radiation therapy equipment, with sales projected to reach $204.7 million by 2010, according to GIA.
Related Reading
Ultrasound market projected to reach $6.2 billion by 2015, October 22, 2008
Chinese ultrasound market poised for growth, October 17, 2008
3D/4D ultrasound prospers in Western Europe, May 20, 2008
PET drives growth in nuclear medicine market, April 30, 2008
DR markets expected to grow, April 30, 2008
Copyright © 2008 AuntMinnie.com
