The growing prevalence of cancer worldwide, coupled with rapid technological advancements and increased healthcare expenditure, is expected to boost the market growth. Linear accelerators (LINAC) are considered as breakthrough devices, which have revolutionized treatment due to their cost-effectiveness. Further, the market has witnessed a significant shift in cancer treatment delivery with increasing preference from invasive to non-invasive treatment procedures. As non-invasive treatment includes radiation therapy, which is the most advanced and cost-effective treatment option for patients. Therefore, this phenomenal shift in consumer expectation has increased the acceptance of medical LINAC equipment.
The market has witnessed significant growth in terms of sales volume, especially due to the growing prevalence of cancer and increasing demand for non-invasive cancer treatment. Globally, the prevalence of cancer is increasing at an alarming rate due to changing lifestyles, aging population, environmental pollution, and increasing smokers. It is one of the leading causes of high mortality rate across the world.
The emergence of artificial intelligence is revolutionizing the medical imaging devices market. Advances in machine learning (ML) and artificial intelligence (AI) are rapidly transforming cancer treatment using LINAC devices. Hence, vendors are focusing on developing AI and ML-enabled LINACs for oncology treatment, which is likely to become convenient treatment options in upcoming years.
- The equipment segment is dominating the global market and accounted for a share of 80% during the forecast period
- The North America region is leading the global medical linac market followed by Europe and APAC
- The prostate cancer application segment is expected to witness the highest CAGR of 8.5%
- In 2019, China accounted for a share of around 27% of the APAC region. The region has the highest incidence of cancer cases in APAC.
- The breast cancer segment is expected to witness the highest incremental growth of over $270 million during the forecast period.
MEDICAL LINEAR ACCELERATOR MARKET SEGMENTATION
This research report includes detailed segmentation by
In 2019, breast cancer application segment accounted for 22% share of the global market. The segment is growing at a healthy with a CAGR of 8%. The rapid use of radiotherapy with medical linear accelerator equipment for the treatment of breast cancer, along with the growing incidence of these cases, is responsible for the segment growth.
The prostate segment is likely to grow at a promising CAGR during the forecast period. The segment is growing at a faster rate compared to other application segment and the trend is likely to continue during the forecast period. The primary factor driving growth includes the rise in prostate cancer worldwide. Further, the rise in the geriatric population worldwide is another key factor driving the market. Lung cancer treatment is projected to achieve maximum revenue owing to the rapid rise across the globe. Hence, the application of radiation therapy with LINAC for these treatments is likely to gain a lucrative share in the market.
The equipment segment is growing due to the growing incidence of cancers globally and the segment is expected to grow with the highest CAGR of 8.4% than software segment.
Key Advantages of Equipment
- Shorter treatment schedules
- Offers painless treatment
- Higher speed and precision compared to other available treatments
- Causes minimal damage to surrounding tissue
The use of innovative oncology informatics platforms has led to rapid progress in radiation treatment planning, thereby saving time and cost.
Key Advantages of LINAC Software
- More timely and complete access to clinical and patient information
- Easy sharing, analysing of information
- Easier communication among HCPs and patients
The hospital segment is likely to dominate the global medical linear accelerator market share. Healthcare professionals in hospitals are using LINACs as an advanced radiotherapy device for the treatment of cancer with a non-invasive procedure. The hospital segment is growing at a healthy rate and is likely to grow at a steady pace during the forecast period. The cancer care center segment is projected to grow at the highest CAGR during the forecast period. The segment will witness the highest incremental growth of around $550 million during the forecast period.
In 2019, the academic institute & research center end-users segment accounted for a 15% share of the global medical linear accelerator market. The segment is growing at a healthy rate. Moreover, the increasing number of cancer cases globally is another factor driving the growth of the segment.
North America is growing at a significant rate due to the growing preference for technologically advanced medical LINAC devices. The region is expected to witness highest incremental growth of $420 million during the forecast period. The US is the major revenue contributor in the North America region.
Europe is the second largest market and accounted for a 32% share. Germany, France, the UK, Spain, and Italy are the major revenue contributors in Europe. The market is likely to grow at a steady rate due to the growing prevalence of cancer in Europe. Breast, colorectum, lung, prostate and bladder cancers were the most common cancer cases in 2018 in the region. Due to increasing burden of cancer patient population along with the need of advanced treatment procedures, many key players are focusing on launching innovative medical linear accelerator devices in the Europe. For instance, in June 2018, world's first high-field MR-linac, Elekta Unity received CE Mark, which created a huge interest from potential customers.
The APAC market is expected to witness the highest absolute growth during the forecast period. The region has the largest population density and the highest proportion of people with cancers. China, Japan, India, Australia, and South Korea are the major revenue contributors from the region. Brazil, Mexico, and Argentina are the major revenue contributors to the medical linear accelerator market in Latin America. Although the market is growing at a moderate rate, it offers tremendous growth opportunities. Therefore, the growing need for efficient and high-quality medical care is likely to drive the growth in Latin America. Turkey, Saudi Arabia, and South Africa are the major revenue contributors to the MEA region.
KEY VENDOR ANALYSIS
The global medical LINAC market has only six vendors that provide medical linear accelerator equipment at the global and regional levels. The market is highly consolidated as the leading two vendors account for around 89% of the share. The market is witnessing rapid technological advancements and product launches. Global players are focusing on developing innovative products and expanding their product portfolio to remain competitive in the industry. They are investing extensively in R&D and product development activities to expand their product portfolio.
The global medical linear accelerator market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
- Oncology Informatics/Software
- Breast Cancer
- Prostate Cancer
- Lung Cancer
- Head & Neck Cancer
- Colorectal Cancer
- Cancer Care Centers
- Academic Institutes and Research Centers
- North America
- South Korea
- Latin America