Linear accelerators produce high-energy radiation to treat various forms of cancer including breast cancer, lung cancer, prostate cancer, and more. These devices provide treatment through high-energy x-ray beams targeted precisely at tumors to damage cancer cells’ DNA and destroy their ability to multiply while sparing surrounding healthy tissue.
The global Linear Accelerators for Radiation Market is estimated to be valued at US$ 6.9 Bn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing incidence of cancer has been a key driver for the linear accelerators for radiation market. According to the World Health Organization, cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020. Growing prevalence of various types of cancers including lung cancer, breast cancer, colorectal cancer and more have increased demand for effective treatment modalities such as radiation therapy using linear accelerators. Linear accelerators assist in delivering high doses of radiation directly to the tumor zone with lower damage to surrounding normal tissues. Rising cancer burden and advancement in linear accelerator technology are expected to augment the growth of linear accelerators for radiation market over the forecast period.
SWOT Analysis
Strength: Linear accelerators are very accurate radiation therapy devices capable of targeting tumors with pinpoint precision while minimizing exposure of surrounding healthy tissue. This allows for higher radiation doses to be used for better treatment outcomes.
Weakness: Linear accelerators are very expensive medical devices, with costs ranging from $1-4 million per unit. This high upfront investment poses a significant barrier for many hospitals and radiation therapy centers.
Opportunity: As the elderly population increases worldwide and cancer rates continue rising, demand for advanced radiation therapy using linear accelerators is expected to grow substantially. This presents an opportunity for market expansion, especially in developing countries.
Threats: Technological advancements may lead to newer radiation therapy modalities that could replace linear accelerators. For example, proton therapy is gaining popularity and poses a threat due to claims of even greater accuracy and improved outcomes for some cancers.
Key Takeaways
The Global Linear Accelerators For Radiation Market Size is expected to witness high growth over the forecast period driven by increasing cancer incidence rates globally. The market size is projected to reach US$ 6.9 billion by 2023, growing at a CAGR of 5.7% from 2023 to 2030.
Regional analysis – North America currently dominates the market due to widespread adoption and advanced healthcare infrastructure. However, Asia Pacific is poised to be the fastest growing region with countries like China and India expected to significantly expand their radiotherapy capacity and access to treatment.
Key players operating in the linear accelerators for radiation market are H.B. Fuller, Henkel AG & Co. KgaA, The Dow Chemical Company, 3M, Flint Group, Arkema Group, Ashland Inc., COIM Group, Morchem, DIC Corporation, and Chemline India Ltd. These companies are focusing on technology advancements to develop more compact and affordable linear accelerator systems in order to drive further adoption.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it