According to Intent Market Research, the Image-guided Radiation Therapy Market is expected to grow from USD 1.7 billion in 2023-e to touch USD 2.4 billion in 2030, growing at a CAGR of 5.3%

Image-guided Radiation Therapy (IGRT), a method where regular imaging is done to improve accuracy while a patient receives radiation therapy. It offers various advantages such as increased precision and accuracy of dose, enhanced tumor monitoring and control, minimal exposure to healthy organs to reduce toxicity and carcinogenicity in other tissues.

Intensity-modulated Radiation Therapy (IMRT) Segment is Anticipated to Grow at a Significant Pace in the Image-guided Radiation Therapy (IGRT) Market

Intensity-modulated radiation therapy (IMRT) advanced form of high-precision radiation therapy, applies computer-controlled linear accelerators to precisely deliver radiation doses to a malignant tumor or particular regions within the tumor. Through modulating, or controlling, the radiation beam's intensity in multiple small volumes, IMRT enables the radiation dose to more precisely conform to the three-dimensional shape of the tumor sessions and is widely used for the treatment of cancer-related to the lungs, spine, liver, and neck.

IMRT radiation therapy acts by damaging the DNA within the tumor cells, this process prevents the cells from proliferating tumor cells resulting in shrinkage of tumors. Major market players concentrate their efforts on developing advanced technologies through research collaboration and partnerships. For instance, in June 2021, Phillips and Elekta announced a strategic alliance to improve all-encompassing and individualized cancer treatment using precision oncology technologies. Building on their successful partnership in the rapidly developing field of Magnetic Resonance (MR)-guided adaptive radiation therapy, the two companies are now working together.

       Source: Intent Market Research Analysis

Lung Cancer Segment is Expected to Grow at a Rapid Pace During the Forecast Period

The lung cancer segment is expected to grow significantly due to rising cases of lung cancer. In the US, lung cancer ranks as the second most common cancer in both men and women, both small cell and non-small cell types. The second most common cancer in the world is lung cancer. It ranks second in women's cancer cases and the most common in men's. For instance, according to data published by the National Cancer Institute, an estimated 603,989 Americans were expected to have lung and bronchus cancer in 2020.

Asia-Pacific is Expected to be the Fastest-growing Region in the Image-guided Radiation Therapy Market

The growth in Asia-Pacific region is mainly attributed to rising cancer cases, developed healthcare infrastructure, and a growing geriatric population. Major market players in this region are working on the development of advanced radiotherapy modalities to lessen the toxicity rate of radiation.

For instance, in June 2020, Accuray, a US-based medical device company introduced the CyberKnife S7TM System. This is an advanced device that integrates high speed, precision, and real-time AI-driven motion tracking and synchronization for treatment delivery. It is designed to deliver stereotactic body radiation therapy (SBRT) and stereotactic radiosurgery (SRS) for cancerous and benign tumors treatments. This cutting-edge system allows for treatment delivery in as little as 15 minutes. It is a robotic, non-invasive radiation therapy tool that can be used to treat neurological conditions and both benign and malignant tumors located all over the body.

Image-guided Radiation Therapy Market is Highly Competitive with the Presence of a Large Number of Global and Regional Players

The market is characterized by intense competition due to the presence of numerous international and domestic players. The Image-guided radiation therapy market, in particular, is dominated by key players such as Accuray, Canon, C-Rad, Elekta, GE Healthcare, GenesisCare, Mevion, Philips, RefleXion, Siemens, Sun Nuclear, ViewRay, and Vision RT. These industry leaders are primarily focused on acquiring smaller players and innovating their product lines to provide novel treatment options to improve patient health.