This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, fundamental market dynamics, and key player strategies.

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ZEISS is among the pioneer companies that combines 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.

According to the new market research report by MarketsandMarkets, 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.

Major Growth Drivers:

The rising incidence of cancer, technological advancements, and advantages offered by IORT over conventional radiotherapy are the major factors driving the growth of the global market. Additionally, growing clinical trials exploring the use of IORT for various cancer applications is expected to offer lucrative growth opportunities to market players.

The Electron IORT segment to account for the largest share of the intraoperative radiation therapy market, by technology, in 2019

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.

The breast cancer segment, by application, is to register the highest CAGR in the intraoperative radiation therapy market during the forecast period

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.

North America to dominate the intraoperative radiation therapy market during the forecast period

North American region is expected to account for the largest share of the intraoperative radiation therapy market in 2019. 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.

Growing global prevalence of cancer:

The IORT procedure is associated with various advantages such as targeted radiation, limited treatment time, high precision and radiation control, and minimal radiation exposure of normal tissue. This is especially true for breast cancer, as this mode offers women a choice of breast-sparing treatment (lumpectomy). The increasing prevalence of breast cancer is, therefore, a key factor driving the market growth. The growing prevalence of cancer will increase the adoption of IORT procedures. Some key statistics in this regard have been mentioned below:

• In 2020, 276,480 new cases of invasive breast cancer and 48,530 new cases of non-invasive breast cancer were reported in the US (Source: Breastcancer.org).
• In 2018, around 17.0 million new cases of cancer were reported worldwide; this figure is expected to reach 27.5 million by 2040 (Source: International Agency for Research on Cancer).
• According to the American Cancer Society, in 2018, around 1.8 million new cases of cancer were diagnosed in the US.

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Report Objectives

• To define, describe, and forecast the global market on the basis of method, product service, application, and region
• To provide detailed information regarding the major factors (drivers, restraints, opportunities) influencing the growth of the global market
• To strategically analyze the micromarkets with respect to individual growth trends, future prospects, and contributions to the global market
• To analyze the opportunities in the global market for key stakeholders and provide details of the competitive landscape for market leaders
• To forecast the revenue of the market segments with respect to four main regions, namely, North America (US and Canada), Europe (Germany, France, the UK, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), and the Rest of the World
• To profile the key players in the global market and comprehensively analyze their market shares and core competencies
• To track and analyze competitive developments, such as product launches, agreements, partnerships, collaborations, and acquisitions in the global market