Chile Radiotherapy Industry Overview
The Chile radiotherapy market size is expected to reach USD 36.0 million by 2028, according to a new study by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.7% from 2021 to 2028. The increasing prevalence of cancer and rising healthcare expenditure are factors expected to propel the growth over the forecast period.
Chile Radiotherapy Market Segmentation
Grand View Research has segmented the Chile radiotherapy market based on type and application:
Based on the Type Insights, the market is segmented into External Beam Radiotherapy, Internal Beam Radiotherapy, Systemic Radiotherapy.
- The external beam radiotherapy segment dominated the market and accounted for the largest revenue share of 86.5% in 2020. External beam radiotherapy is the most widely used form of radiotherapy. All external beam radiation therapy devices such as LINACs, CyberKnife, GammaKnife, and Tomotherapy equipment are expected to grow at a lucrative rate.
- An increase in awareness about treatment procedures and technological advancements are some of the factors contributing to market growth. External Beam Radiation Therapy (EBRT) is considered highly effective in various conditions, such as breast cancer, esophageal cancer, colorectal cancer, and prostate cancer.
- The internal beam radiotherapy segment is anticipated to witness the fastest growth over the forecast period owing to the factors such as the ability to deliver precise doses, increased patient preference, and cost-effectiveness.
Based on the Application Insights, the market is segmented into Breast Cancer, Prostate Cancer, Lung Cancer, Head and Neck Cancer, Colorectal Cancer, Others.
- The prostate cancer segment dominated the Chile radiotherapy market and accounted for the largest revenue share of 24.9% in 2020. The segment is expected to witness the fastest growth over the forecast period owing to the high incidence and treatment rate of the indication in Chile.
- The lung cancer segment is expected to grow at a significant rate in the coming years owing to changes in the lifestyle of the population. According to the IARC, the estimated number of new lung cancer cases in Chile was around 4,000 in 2020.
- The number is expected to reach around 5,500 by 2030. The rising incidence of the disease can be attributed to an increase in smoking. As per the national health survey, currently, 32.5% of the people in Chile are active smokers.
Key Companies Profile & Market Share Insights
Companies are adopting strategies that allow them to use their resources to aid in the development of new products. For instance, in March 2018, Elekta AB entered into research collaboration with Universidad de La Frontera (UFRO) for the development of innovative equipment for radiation therapy treatments.
Some prominent players in the Chile radiotherapy market include
- Varian Medical Systems, Inc.
- Elekta AB
- Accuray Incorporated
- Becton, Dickinson and Company
- Isoray Medical
- NTP Radioisotopes SOC Ltd.
Order a free sample PDF of the Chile Radiotherapy Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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