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MRI-guided Radiation Therapy Systems Market Ongoing Trends and Recent Developments

August 19, 2019 by Amanpreet  

The relatively new technology for integrating magnetic resonance imaging (MRI) with radiation therapy is becoming increasingly prevalent, with revenues from the MRI-guided radiation therapy systems market exceeding US$ 220 Mn in 2018, according to a recent study by Fact.MR. This remarkable growth potential of the MRI-guided radiation therapy systems market can be attributed to burgeoning adoption of innovative technologies in the cancer diagnosis & treatment, alongside growing focus on patient-centric care.

Report Summary of the Report: https://www.factmr.com/report/2572/mri-guided-radiation-therapy-system-market

The study assesses macro and microeconomic factors that define the growth prospects of the MRI-guided radiation therapy systems market. It finds that leading players in the rapidly-growing healthcare sector are vying for new techniques in cancer treatment to compensate for involuntary patient movements and improve precision to a much higher degree. In addition, the paradigm shift in preference of cancer patients towards radiation therapies, from invasive to non-invasive procedures, is expected to remain instrumental in adoption of MRI-guided radiation therapy systems in cancer care.

“Leading cancer research institutes are exploring the potential for MRI in radiation therapy in order to enhance the efficiency and precision of existing cancer treatments. However, integrating MRI technology, which uses magnetic field to produce images, with an all-metal linear accelerator in radiation therapy devices requires exceptional technological expertise and a strong international consortium. Currently, Elekta and Viewray are the only two companies that have a strong foothold in the MRI-guided radiation therapy systems market, and it may be a while until new entrants make foray into the market,” says Fact.MR.

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The study opines that hospital, with over 51% revenue share, will remain the target customer for players in the MRI-guided radiation therapy systems market in 2019. Opportunities abound for of MRI-guided radiation therapy system developers,, with ongoing clinical development of high-tech procedures exploiting Linac MR-RT (Linear accelerators integrated with magnetic resonance radiotherapy).

The study also finds that radiotherapy centers are adopting technologically-advanced MRI-compatible radiation models, to explore numerous possibilities to make radiotherapy treatment more effective. Market players are focusing on building a successful consortium with the help of physicians, clinicians, as well as Original Equipment Manufacturers (OEMs), to tap opportunities in the radiation therapy centers.

The study opines that the increasing healthcare expenditure in the United States (U.S.) will remain a key growth determinant of the MRI-guided radiation therapy systems market in North America. In 2017, the per capita health expenditure was over US$10,000 in the U.S., recording an increase of nearly 4% over 2016, according to studies. In addition, an alarming rise in the prevalence of cancer in the U.S. will reflect in a significant demand for MRI-guided radiation therapy systems in North America.

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Fact.MR’s methodology is robust and comprehensive. We employ a range of tools and assets to develop an all-encompassing coverage of a range of industries. We compile data points at local, country, regional, and global level – our approach to capturing the finest nuances, without losing sight of the bigger picture helps us in developing accurate and reliable forecasts and estimates.

Fact.MR has a standard set of guidelines and standards that help maintain a level of consistency across all of our research offerings. The standardization includes step-by-step documentation of the methodologies and guidelines on the sources that are to be used for incorporation of objective and accurate data.

The standardization also involves use of industry-wide analytical tools, and rigorous quality checks to validate market forecasts and sizes. Our unwavering focus on standardization ensures that clients receive the same quality of research and analysis that Fact.MR is known for.

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