by Linear accelerators are medical devices used in external beam radiotherapy to treat cancer and non-malignant lesions by imparting high energy ionizing radiation. It works by using microwave technology to produce and accelerate a beam of electrons or X-rays that target and kill cancer cells while sparing surrounding healthy tissues. Linear accelerators allow precise targeting and dose delivery during radiation therapy. They offer advantages like minimal invasion, painless treatment, and ability to treat multiple tumor sites simultaneously or sequentially. With rising cancer burden worldwide and growing acceptance of radiotherapy as an effective treatment option, demand for linear accelerators is surging significantly.
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:
One of the key trends in the linear accelerators market is growing adoption of advanced technologies like volumetric arc therapy and flattening filter free linear accelerators. Volumetric arc therapy allows delivering precise radiation dose to tumor from multiple angles simultaneously in a single arc resulting in better outcomes. Flattening filter free linear accelerators generate higher dose rates and allow shorter treatment times with comparable plans. Manufacturers are focusing on integrating such technologies to improve treatment efficacy and efficiency. Another notable trend is increasing demand for compact and portable linear accelerators suitable for operation in ambulatory centers and standalone radiation therapy facilities close to patients’ location. This is expected to boost market access and availability especially in remote areas.
Porter’s Analysis
Threat of new entrants: The high costs of R&D, manufacturing, and compliance with regulations pose barriers to entry in the linear accelerators for radiation market.
Bargaining power of buyers: Buyers have moderate bargaining power as there are several established players offering substitutable products in the market.
Bargaining power of suppliers: A few major suppliers dominate the raw materials for linear accelerators, giving them some bargaining power over manufacturers.
Threat of new substitutes: Technological advancements continue to bring newer substitutes like proton therapy, however high costs of new substitutes currently limit their adoption.
Competitive rivalry: The linear accelerators market is highly competitive with the presence of tier 1 players competing on performance and addition of newer features to products.
Key Takeaways
The Global Linear Accelerators For Radiation Market Size expected to witness high 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 dominates the market currently owing to high adoption and technological advancements. Growth in Europe and Asia Pacific is expected to be faster owing to increasing healthcare investments. The Asia Pacific region is expected to witness the highest growth rate during the forecast period owing to increasing healthcare infrastructure, rising awareness regarding cancer treatment, and growing geriatric population.
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. Players are focusing on new product launches and investments in R&D to strengthen their market position. For instance, Varian Medical Systems launched the Halcyon system to reduce treatment time and cost for cancer patients.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
