The technological advancements such as the introduction of mobile IORT system, rising incidence of cancer, and advantages offered by IORT over conventional radiotherapy are the major factors driving the growth of the global intraoperative radiation therapy market. Additionally, growing clinical trials exploring the use of IORT for various cancer applications is expected to offer lucrative growth opportunities to market players.
Global intraoperative radiation therapy market is projected to reach USD 66 million by 2025 from USD 48 million in 2020, at a CAGR of 6.4% during the forecast period.
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Intraoperative radiation therapy market Dynamics
Driver: Growing global prevalence of cancer
The IORT procedure is associated with various advantages such as targeted radiation, limited treatment time, high precision and radiation control, and minimal radiation exposure of normal tissue. This is especially true for breast cancer, as this mode offers women a choice of breast-sparing treatment (lumpectomy). The increasing prevalence of breast cancer is, therefore, a key factor driving the market growth. The growing prevalence of cancer will increase the adoption of IORT procedures. Some key statistics in this regard have been mentioned below:
In 2020, 276,480 new cases of invasive breast cancer and 48,530 new cases of non-invasive breast cancer were reported in the US (Source: Breastcancer.org).
In 2018, around 17.0 million new cases of cancer were reported worldwide; this figure is expected to reach 27.5 million by 2040 (Source: International Agency for Research on Cancer).
According to the American Cancer Society, in 2018, around 1.8 million new cases of cancer were diagnosed in the US.
Restraint: Dearth of trained personnel
A high level of accuracy is needed at every step of the process to achieve maximum tumor control and ensure minimal risk to normal tissue. Procedural errors can occur due to interconnectivity issues between different treatment planning and delivery and monitoring systems, thus increasing risks for patients. These complexities associated with IORT pose a challenge towards its widespread adoption in cancer treatment.
Opportunity: Growing applications of IORT
Over the years, IORT has found significant applications as a breast-conserving treatment. Technological advancements in this field, coupled with the growing applications of IORT, has resulted in the increasing collaboration between a large number of manufacturers and research institutes to conduct clinical trials to study the applications and efficacy of IORT for other cancer types. The primary aim of these clinical trials is to analyze and evaluate the feasibility of IORT treatment across various cancer applications. Some of the recent trials and projects include:
In 2019, IntraOp Medical, Inc. (US), in collaboration with the Massachusetts General Hospital, initiated a study to investigate the effectivity of electron beam intraoperative radiation therapy following chemoradiation in patients with pancreatic cancer.
In 2018, A.C. Camargo Cancer Center collaborated with Carl Zeiss Meditec AG (Germany) to sponsor the “Focal Intraoperative Radiotherapy after Resection of Brain Metastases” trial.
Challenge: Risk of radiation exposure
The high radiation doses involved with therapeutic exposures have the potential to cause harm to not only the patients opting for treatment but also to the healthcare staff and people in the surrounding areas in case there is involuntary radiation exposure. This may result in various side-effects, such as vomiting, diarrhea, and nausea.
North America to dominate the intraoperative radiation therapy market during the forecast period
The intraoperative radiation therapy market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The North American region is expected to account for the largest share of the intraoperative radiation therapy market in 2019. The growth in this market is mainly attributed to the increasing healthcare expenditure in the region, technological advancements, and high adoption of IORT products owing to the increasing incidence of cancer.
The major players operating in the intraoperative radiation therapy market are ZEISS Group (Germany), iCAD, Inc. (US), Eckert & Ziegler (Germany), Elekta AB (Sweden), GMV Innovating Solutions (Spain), Sensus Healthcare, Inc. (US), IntraOp Medical, Inc. (US), Isoray, Inc. (US), Becton, Dickinson and Company (US), Sordina IORT Technologies (Italy), Varian Medical Systems, Inc. (US), SeeDos Ltd. (UK), IsoAid LLC (US), Ariane Medical Systems Ltd. (UK), Panacea Medical Technologies Pvt. Ltd. (India), Salutaris Medical Devices (US), Brainlab AG (Germany), RaySearch Laboratories (Sweden), REMEDI Co., Ltd. (South Korea), Merit Medical Systems, Inc. (US), among others.
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