Benefits Of MRI-Guided Radiation Therapy Systems Over Linear Accelerators & Growing Adoption Of Next-Generation Technologies Had Led To 31% Y-O-Y Growth In 2019
Fact.MR – A Market Research and Competitive Intelligence Provider: The global MRI-guided radiation therapy systems market was valued at nearly US $ 221Mn in 2018 and is expected to record a CAGR of approximately 20% through 2028.
Surge in adoption of radiotherapy in cancer treatment is fuelling demand for MRI-guided radiation therapy systems. Significant rise in the national expenditures for cancer care in the US is expected to boost the growth of the market.
Increasing capital expenditures on healthcare infrastructure and adoption of advanced medical technologies in developing countries is laying a strong foundation for manufacturers in the MRI-guided radiation therapy systems market.
MRI-guided radiation therapy systems have become a crucial part of cancer treatment over linear accelerators. Favorable reimbursement policies pertaining to cancer care continue to drive adoption of the MRI-guided radiation therapy systems among hospitals and medical facilities.
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Besides this, rising awareness about cancer and awareness about the advanced treatment procedures, are expected to offer lucrative opportunities for the growth of MRI- guided radiation therapy system market players. In addition to this, stringent government regulations and standards are likely to have an impact on strategies adopted by manufacturers and is likely to cause a delay in the launch of the product.
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Currently the technology used in MRI-guided radiation systems is new and market is at its infancy. Key manufacturers rely on licensing and patenting their innovative technologies for revenues and sales. Currently, only two companies have a substantial presence in the market - Elekta AB and Viewray Technologies, Inc.
Key Companies Profiled by Fact.MR
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Segmentation of MRI-guided Radiation Therapy Systems Market
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Fact.MR, in its new offering, presents an unbiased analysis of the global MRI-guided Radiation Therapy Systems Market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.
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