The number of cancer cases has been rising all across the globe over the past few years. As per the American Institute of Cancer Research, by 2030, the number of new cancer incidence is expected to reach 25 million. The prevalence of cancer is further predicted to be the highest in low and middle-income countries, including India and China. Cancer is among the most common chronic diseases around the globe, and was responsible for 9.6 million deaths in 2018, as per the World Health Organization.
The prevalence of cancer can be decreased by providing efficient medical care at initial stage of the disease, which can be done by radiotherapy and chemotherapy. Radiotherapy is majorly used for treating cancer, reducing the risk of cancer coming back if a person goes through surgery, and relieving symptoms if the patient cannot be cured. It is considered the most effective treatment for cancer, however, its effectiveness varies from person to person. According to a report by P&S Intelligence, the global radiotherapy market is expected to generate a revenue of $17,194.4 million by 2030, increasing from $7,222.4 million in 2019, advancing at an 8.4% CAGR during the forecast period (2020–2030).
Other than this, the demand for radiotherapy is also predicted to rise in Asia-Pacific, thereby making the region the fastest-growing radiotherapy market in the coming years. This is because of the increasing burden of cancer, rising investments by private and public organizations, and improving healthcare infrastructure. As per the Global Cancer Observatory, in 2018, 883,395 cancer cases were reported in Japan, and the number is predicted to rise to 3.5 million by 2025.
Hence, the market is growing due to the surging prevalence of cancer across the globe.
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