The rising incidence of cancer, technological advancements,
and advantages offered by IORT are the major factors driving the growth of the
global intraoperative radiation therapy market. Research and clinical trials
are also being conducted to expand the applications of IORT; this will add to
market growth prospects in the coming years.
The 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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Market Segmentation
Based on technology, the intraoperative radiation therapy
market is segmented into electron IORT and intraoperative brachytherapy. The
electron IORT segment is expected to account for the largest share of the
intraoperative radiation therapy market in 2019. IOERT is a suitable option for
patients with locally advanced or recurrent cancer such as partial breast and
rectal cancer. Thus, rising target patient population, promising clinical
trials, and growing R&D investments will further drive the segment growth.
Based on application, the intraoperative radiation therapy
market is segmented into breast cancer, brain tumor, gastrointestinal cancer,
head & neck cancer, colorectal cancer, endometrial and cervical cancer,
lung cancer, and other cancers. IORT offers a reduced amount of irradiation,
shorter treatment time, and lesser clinical effects on the skin, lung, and
heart.
Regional Analysis
The North American region is expected to account for the
largest share of the intraoperative radiation therapy market. 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.
Key Market Players
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)
ZEISS is among the pioneer companies that combined
surgery with radiotherapy to develop and introduce intraoperative radiation
therapy to the cancer treatment field. The flagship product of the company,
INTRABEAM, is one of the most widely used IORT products across the globe.
INTRABEAM is a revolutionary, intraoperative form of radiation therapy for
early-stage breast cancers.