Intraoperative Radiation Therapy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Intraoperative Radiation Therapy Market Analysis

The intraoperative radiation therapy market is expected to record a CAGR of 6.3% over the forecast period.

COVID-19 significantly impacted the intraoperative radiation therapy market. Various screening, diagnostics, and surgical procedures were restricted or postponed at hospitals and cancer treatment centers, disrupting cancer diagnosis and treatment procedures. As per a research study published in October 2021 by the Journal of Medical Screening, during the pandemic, breast cancer screening was affected globally as many countries such as Canada, the Netherlands, Germany, Italy, the United Kingdom, and Australia halted their breast screening programs in response to COVID-19. Thus, this led to a decline in the diagnosis of cancer and severely impacted the market's growth. However, the market has recovered well due to a decline in COVID-19 cases and the resumption of diagnostic and screening processes globally. It is anticipated to gain traction due to an increase in cancer cases throughout the forecast period.

An increase in the incidence and prevalence of cancer globally is projected to drive the intraoperative radiation therapy market during the forecast period. The most common cancers are breast cancer, lung and bronchus cancer, prostate cancer, colon and rectum cancer, melanoma of the skin, bladder cancer, non-Hodgkin lymphoma, kidney and renal pelvis cancer, endometrial cancer, leukemia, pancreatic cancer, thyroid cancer, and liver cancer. According to the Breast Cancer Factsheet Now 2021, around 55,000 women and 370 men in the United Kingdom are diagnosed with breast cancer every year. This figure is expected to climb to 1.2 million by 2030. Thus, the huge prevalence of cancer cases is likely to increase the demand for radiation therapy, thereby boosting the market's growth over the forecast period.

Besides, increasing demand for highly efficient radiation therapy systems for cancer treatment, new product approvals, and fundraising are projected to augment the intraoperative radiation therapy market during the forecast period. For instance, in October 2022, PLANET successfully raised GBP 1 million for a ground-breaking radiation system to fully purchase Mobetron, a cutting-edge mobile device that administers intraoperative radiotherapy during surgery.

However, the lack of skilled personnel to operate the equipment and preference for conventional radiotherapy over IORT may hinder the market's growth.

Intraoperative Radiation Therapy Market Trends

Electron IORT Segment is Expected to Hold Significant Market Share Over the Forecast Period

Intraoperative Radiation Therapy Industry Segmentation

As per the report's scope, intraoperative radiation therapy (IORT) is an intensive radiation treatment administered during surgery. IORT allows direct radiation to the target area while sparing normal surrounding tissue. IORT is used to treat cancers that are difficult to remove during surgery and when there is a concern that microscopic amounts of cancer may remain.

The intraoperative radiation therapy market is segmented by method (electron iort, intraoperative brachytherapy, and other methods), products and services (product and services), application (breast cancer, brain tumor, gastrointestinal cancer, head and neck cancer, and other applications), and geography (North America, Europe, Asia Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.