LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global radiation oncology market report. This research report also lists seven other prominent vendors that are expected to impact the market during the forecast period.
The global radiation oncology market is expected to grow steadily during the forecast period. This will be due to the increasing adoption of technologically advanced products. Hence, vendors are developing and launching such products. Many hospitals are expected to replace their installed base equipment with advanced equipment, which is expected to drive the growth of the market during the forecast period. The increasing adoption of proton therapy with the development of smaller and less expensive one or two room systems is also expected to drive the growth of the market.
Competitive vendor landscape
According to the report, the key vendors dominate the market due to their board product portfolio, better technical and financial resources, significant R&D investments, and development of technologically advanced products. Small vendors struggle to compete with the major vendors to sustain their business. There is intense competition among vendors to increase their footprint in the market by adopting business strategies like new product launches, product improvements, agreements, collaborations, and partnerships.
“Few vendors are also collaborating with government organizations such as the NHS to improve their market reach. In June 2016, Accuray signed a deal with the NHS Supply Chain to provide seven TomoTherapy Systems. The competition in the market is expected to intensify further during the forecast period. This will be due to the increase in product and service extensions, technological advances, and increasing number of new product approvals,” says Ramakrishna Edupulapati, a lead oncology research analyst from Technavio.
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Top five radiation oncology market vendors
Accuray
Accuray designs, manufactures, and supports a complete portfolio of radiation therapy and radiosurgery platforms to treat cancer. The company’s product offerings include CyberKnife, TomoTherapy, and Radixact Delivery Treatment Platform. The company is working on improving the adoption and awareness of its products by demonstrating their advantages when compared with traditional treatment methods.
C. R. Bard
C. R. Bard designs, manufactures, packages, distributes, and sells medical, surgical, diagnostic, and patient care devices across the world. The company provides products for vascular, urology, oncology, and surgical specialty. Under the radiation oncology segment, the company offers products for brachytherapy such as BRACHYSOURCE Iodine 125, THERASEED Pd-103 Implant, QUICKLINK Delivery System, SOURCELINK Delivery System, READYLINK Delivery System, and ISOSLEEVE Source Delivery System.
Elekta
Elekta develops and sells equipment and software to treat cancer and brain disorders across the world. The company provides its technology to more than 6,000 hospitals across the world. It offers products and solutions for radiotherapy, SRS, oncology informatics, brachytherapy, neurosurgery, and particle therapy.
IBA Worldwide
IBA Worldwide is a medical technology company that focuses on providing solutions for the diagnosis and treatment of cancer in Belgium and other international markets. The company focuses on three main activities, which include proton therapy, dosimetry, and particle accelerators.
Varian Medical Systems
Varian Medical Systems is a global manufacturer of medical devices and software to treat cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy, and brachytherapy. The company’s operations are grouped under oncology systems, imaging components, and others.
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