The global Linear Accelerators for Radiation Market Growth...

The global Linear Accelerators for Radiation Market Growth Accelerated by Adoption of New Technologies

Posted 2023-12-27 11:41:50

Linear accelerators are medical devices used for external beam radiation therapy in cancer treatment. They generate high-energy x-ray or electron beams used to destroy cancer cells. Linear accelerators offer non-invasive cancer treatment with minimal side effects.

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 adoption of new technologies is one of the key trends driving the growth of the linear accelerators for radiation market. Manufacturers are increasingly focusing on developing innovative linear accelerators with advanced features such as machine learning, artificial intelligence, and high-definition imaging. This is allowing healthcare providers to customize radiation treatments for each patient and monitor the progress in real-time. With technological advancements, linear accelerators are becoming more effective and easy-to-use. This wider applicability of linear accelerators due to new technologies is expected to boost the demand over the forecast period.

Segment Analysis
The global linear accelerators for radiation market is dominated by the medical technology and equipment segment. This segment accounts for over 85% of the market share as linear accelerators are widely used for external beam radiation therapy in cancer treatment. They help to deliver high doses of radiation to tumors while protecting surrounding healthy tissues from damage. Within the medical technology segment, the linear accelerator systems sub-segment holds the major share due to advancements in linear accelerator technologies capabilities to treat various types of cancers effectively.

Key Takeaways
The Global Linear Accelerators For Radiation Therapy Market Size is expected to witness steady growth. 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

North America currently dominates due to extensive adoption and ongoing replacement of aging systems. The region is expected to maintain its leading position through 2030 owing to favorable reimbursement policies and shorter equipment replacement cycles. Europe and Asia Pacific regions also have well established markets and are major manufacturing hubs for linear accelerators. Asia Pacific is poised to see the fastest growth over the forecast period driven by rising cancer incidence, increasing healthcare infrastructure investments and expanding medical tourism industry.

Key players operating in the linear accelerators for radiation therapy 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. Major players are focusing on development of more compact and energy-efficient linear accelerator models along with upgrades offering faster treatment delivery capabilities. Strategic partnerships and acquisitions remain important strategies to gain access to new technologies and expand geographic footprints particularly in emerging markets with high growth potential.

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