Chile Radiotherapy Market Growth & Trends
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.
There is a significant gap between the required and installed radiotherapy capacity in Chile. As per a recently published report in the International Journal of Radiation Oncology, Chile had around 41 operative LINACs, which is less than the number required to meet the demand. This provides significant opportunities for growth for the market.
According to the International Agency of Research on Cancer (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 lung cancer can be attributed to increasing smoking. As per the national health survey, currently, 32.5% of the people in Chile are active smokers. The rising incidence of cancer is expected to drive market growth.
Moreover, companies are adopting strategies that allow them to use their resources to aid in the development of new products and enhance their supply chain. For instance, in August 2020, Siemens Healthcare GmbH announced the acquisition of Varian Medical Systems, Inc. in an all-cash transaction that accounted for USD 16.4 billion. This acquisition may enable the company to offer end-to-end oncology products to address the unmet medical needs of cancer treatment on a global scale.
Chronic adverse effects of radiotherapy occur after months or years of treatment. These effects depend on the total dose of radiotherapy received and the area of treatment. In some regions of the body, radiation treatment can lead to a buildup of body fluids and can cause lymphedema. Radiation exposure to healthy cells in the body can lead to apoptosis, senescence, necrosis, and terminal differentiation of healthy cells, which can lead to death. Radiotherapy weakens the body and can attenuate a body's receptiveness to radiation therapy or surgery. The adverse effects of radiation therapy may restrain market growth.
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Chile Radiotherapy Market Report Highlights
- In 2020, External Beam Radiation Therapy (EBRT) dominated the market and accounted for the largest revenue share of 86.5%. The high price and high installation base of EBRT equipment is one of the factors for the growth of the segment
- The internal beam radiation therapy segment is expected to witness a lucrative CAGR of 6.9% during the forecast period. The ability to deliver the precise dose, increased patient preference, and cost-effectiveness are some factors driving the segment
- The prostate cancer segment dominated the market and accounted for a share of 24.9% in the market in 2020 and is expected to continue its dominance throughout the forecast period. The high incidence and treatment rate of prostate cancer in Chile are some of the factors contributing to its dominance
Access Press Release@ https://www.grandviewresearch.com/press-release/chile-radiotherapy-market-analysis
Chile Radiotherapy Market Segmentation
Grand View Research has segmented the Chile radiotherapy market based on type and application:
Chile Radiotherapy Type Outlook (Revenue, USD Million, 2016 - 2028)
- External Beam Radiotherapy
- Internal Beam Radiotherapy
- Systemic Radiotherapy
Chile Radiotherapy Application Outlook (Revenue, USD Million, 2016 - 2028)
- Breast Cancer
- Prostate Cancer
- Lung Cancer
- Head and Neck Cancer
- Colorectal Cancer
- Others
List of Key Players of Chile Radiotherapy Market
- Varian Medical Systems, Inc.
- Elekta AB
- Accuray Incorporated
- Becton, Dickinson and Company
- Isoray Medical
- NTP Radioisotopes SOC Ltd.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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