The Global Medical Linear Accelerators Market to Reach Revenues of Over $3 Billion 2025 - Market Research by Arizton

CHICAGO, Nov. 26, 2019 /PRNewswire/ -- According to Arizton's recent research report, Medical Linear Accelerators Market - Global Outlook and Forecast 2020-2025 is expected to grow at a CAGR of over 2% during the forecast period.

Key Highlights Offered in the Report:  

• Globally, the medical linear accelerators market is likely to grow at a significant rate and witness an incremental growth of around $1,206 million and the medical linear accelerators market is a segment of global radiotherapy market and growing at a CAGR of approximately 8% during the forecast period.
• The usage of medical LINACs is relatively high for treating prostate cancer which is due to the fact that radiotherapy is considered as a curative therapy than palliative therapy for prostate cancer.
• In product types, the equipment segment will witness higher growth in terms of revenue due to the to the rising adoption of several advanced radiotherapy devices including medical linear accelerators due to the rising incidence of cancer cases globally. As a result, players like Elekta, Varian Medical Systems and Accuray are prioritizing to develop and commercialize a wide array of advanced medical LINAC systems worldwide.
• The US is the major revenue contributor to the global medical linear accelerators market. The country is likely to witness the highest incremental growth of around $376 million during the forecast period due to higher penetration of medical LINAC systems and favorable reimbursement coverage for radiotherapy
• North America is dominating the global medical linear accelerators market and accounted for a share of around 34% in 2019.
• In terms of absolute growth, India is likely to grow with the highest absolute growth of around 71% during the forecast period. India is considered as one of the major destinations for medical LINACs due to rising initiatives and awareness program for advanced cancer treatment using radiotherapy, a large population with rising disposable income, coupled with rising demand for cancer care.

Key Offerings:

• Market Size & Forecast by Revenue | 2019−2025
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by product, application, end-user, and geography.
• Competitive Landscape – Profile of 3 key vendors and 3 other vendors.

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Medical Linear Accelerators Market – Segmentation

• Lung cancer treatment is projected to achieve maximum revenue owing to the rapid rise across the globe. Hence, the application of radiation therapy with LINAC for these treatments is likely to gain a lucrative share in the market.  
• The medical linear accelerator equipment segment is growing due to the growing incidence of cancers globally, coupled with the increasing demand for digitally advanced radiotherapy devices. The use of innovative oncology informatics platforms has led to rapid progress in radiation treatment planning, thereby saving time and cost.
• The academic institute & research centers segment is growing at a healthy rate due to the availability of advanced radiotherapy techniques such as 3D, 4D and Intensity-modulated radiation therapy (IMRT), external beam radiation therapy (EBRT), Image-guided radiation therapy (IGRT), and magnetic resonance (MR) linear accelerator therapy.

Market Segmentation by Products

• Equipment
• Oncology Informatics/Software

Market Segmentation by Application  

• Breast Cancer
• Prostate Cancer
• Lung Cancer
• Head & Neck Cancer
• Colorectal Cancer
• Others

Market Segmentation by End-users

• Hospitals
• Cancer Care Centers
• Academic Institutes and Research Centers

Medical Linear Accelerators Market – Dynamics

The continuous focus of vendors on technological advances and improvements has led to several breakthroughs and disruptive medical linear accelerator devices. The market has witnessed the launch of several advanced and innovative linear accelerators for oncology and witnessed major changes in terms of product design, material usage, and radiotherapy techniques which facilitated HCPs to perform cancer treatment efficiently, leading to better patient outcomes and therefore, HCPs are preferring such technologically advanced linear accelerators.

Key Drivers and Trends fueling Market Growth:

• Growing Prevalence of Cancer
• Increasing Demand for Non-invasive Cancer Treatment
• Emergence of MRI-based Linear Accelerators
• Integration of Artificial Intelligence with Linear Accelerators

Medical Linear Accelerators Market – Geography

North America is growing at a significant rate due to the growing preference for technologically advanced medical LINAC devices. The presence of a large pool of the patient population requiring radiotherapy, coupled with high acceptance of innovative devices and high awareness of non-invasive treatments, has collectively driven the North America market. North America is considered to be an attractive market for medical linear accelerators market due to high healthcare spends in the region. The region has a presence of all major key vendors offering a diverse range of medical linear accelerators. The demand for medical linear accelerators in the region is driven by high awareness, the presence of a large pool of the patient population, a high penetration rate, better product availability, and extensive reach of innovative products. The same is also further reinforced by a well-connected distribution network.

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Market Segmentation by Geography

• North America
• US
• Canada
• APAC
• Japan
• China
• South Korea
• Australia
• India
• Europe
• Germany
• France
• UK
• Spain
• Italy
• Latin America
• Brazil
• Mexico
• Argentina
• MEA
• Turkey
• Saudi Arabia
• UAE

Major Vendors

• Varian Medical Systems
• Elekta
• Accuray

Other vendors include - SHINVA MEDICAL INSTRUMENT, Panacea Medical Technologies, and ViewRay Technologies.

Explore our healthcare & lifesciences to know more about the industry.

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SOURCE Arizton Advisory & Intelligence