Pune, India, Aug. 26, 2021 (GLOBE NEWSWIRE) -- The global stereotactic body radiation therapy market is expected to grow remarkably owing to the rising prevalence of various types of cancer. This information is published by Fortune Business Insights™, in an upcoming study, titled, “Stereotactic Body Radiation Therapy Market Size, Share and Global Trend By Type (Electron-Emitting High-Energy Linear Accelerators (Linac), Proton beam Therapy, Gamma Knife), By End User (Hospitals & Specialty Clinics, Cancer Radiotherapy Centres, Ambulatory Surgical Center, others) and Geography Forecast Till 2026.”
The study further mentions that renowned companies are launching technologically advanced radiation therapies. This, coupled with the rising demand for therapies to treat cancer, would accelerate the stereotactic body radiation therapy market growth during the forecast period.
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- Identify various insights, namely, stereotactic body radiation therapy market trends, growth drivers, obstacles, opportunities, and other related challenges.
- Examine the segments in the market, along with elaborate details about the leading ones.
- Analyze several aspects of the market by using Porter’s five forces model.
Rising Research & Development Activities to Favor Growth in Asia Pacific
Geographically, the market is segregated into Latin America, Europe, the Middle East & Africa, North America, and Asia Pacific. Amongst these regions, North America is anticipated to dominate by gaining the maximum stereotactic body radiation therapy market share in the coming years.
This growth is attributable to the increasing development activities of healthcare infrastructure. It is resulting in the rising adoption of new and innovative cancer treatment techniques. The region also possesses numerous favorable reimbursement policies.
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Europe, on the other hand, is expected to follow the footprints of North America and remain in the second position. It is likely to occur because of the rising awareness programs regarding the availability of state-of-the-art stereotactic body radiation therapies, as well as the increasing incidence of cancer in the region. In Asia Pacific, the market is set to upsurge at a considerable rate stoked by the increasing investments in research and development activities by prominent companies to create minimally-invasive and cost-effective radiation therapy for cancer.
Besides, the ever-increasing patient pool will also affect the stereotactic body radiation therapy market revenue positively in this region.
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Key Players Focus on Launching Innovative Products to Gain Competitive Edge
Reputed companies present in the market are constantly aiming to develop new products through extensive research activities. Many healthcare institutes are also developing new treatment options to cater to the unmet needs of the increasing population. It would thereby increase the stereotactic body radiation therapy market size during the forthcoming period. Below are a couple of the most recent industry developments:
- August 2019: Moffitt Cancer Center, a nonprofit cancer treatment and research center, based in Tampa, announced that it has developed a genomically-based model. It can personalize and optimize a radiation dose to match a patient’s needs. Radiation therapy is mainly required for the standard treatment procedure for breast cancer. However, the dose that is given to most patients is the same. At present, various clinical studies are being conducted to evaluate the risks and advantages of removing radiation treatment for those patients who are affected by breast cancer and are at low risk of disease recurrence. Moffitt is planning to undertake a clinical trial of this genomic approach for patients with breast cancer.
- November 2018: HealthCare Global Enterprises Ltd. (HCG), a provider of cancer care, unveiled its first new generation, TomoTherapy, in India. It is called Radixact X9 and it will be used to treat patients with cancer. It marks a crucial step towards innovative cancer treatment through efficiency, precision, ease-of-use, and speed. HCG is striving persistently to provide precision treatment. It has reinforced the ideology for the first time. It would not only help in providing personalized care but would also enhance the quality of life of the cancer patients.
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Fortune Business Insights™ profiles some of the most renowned organizations present in the stereotactic body radiation therapy market. They are as follows:
- Isoray Inc.
- Siemens
- IBA Worldwide 2019
- Medical Systems, Inc.
- Nordion Inc.
- Elekta AB
- Mallinckrodt
- BD
- Mevion Medical Systems
- Accuray Incorporated
- Other key market players
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