Market Trends of Intraoperative Radiation Therapy Industry
Electron IORT Segment is Expected to Hold Significant Market Share Over the Forecast Period
Electron intraoperative radiation therapy or intraoperative electron radiation therapy (IOERT) is the application of electron radiation directly to the residual tumor or tumor bed during cancer surgery. Electron beams are useful for intraoperative radiation treatment as the dose falls off rapidly behind the target site depending on the electron energy, sparing underlying healthy tissue. Besides, intraoperative radiation therapy revolutionized the traditional model by administering radiation during surgery. It is safer and more accurate and saves considerable time for both the hospital and patients. The clinical data also confirm that successful outcomes with IORT are more consistent. Thus, the positive outcomes associated with the IORT are contributing to the market's growth.
According to the REDECAN study published in November 2022, breast cancer is the most frequent cancer and the primary cause of cancer-related death in women in Spain, with 34,750 women diagnosed with it in 2022. As per the same source, there were 30,948 new cases of lung cancer diagnosed in Spain in 2022. Thus, the huge prevalence of cancer and the need for early diagnostics are expected to increase, supporting the segment's expansion over the forecast period.
North America Holds Significant Share in the Market and is Expected to Retain the Same Over Forecast Period
North America is expected to dominate the overall intraoperative radiation therapy market throughout the forecast period, attributed to factors such as the increasing prevalence and incidence of cancers. The United States is expected to be the largest market in the region.
The significant burden of cancer is anticipated to drive the demand for radiotherapy in the region. For instance, according to the American Cancer Society's data in January 2023, an estimated 1.95 million new cancer cases are likely to be diagnosed in the United States in 2023, among which prostate cancer is estimated to account for 186,670 new cases, followed by 169,870 cases of lung cancer and 144,490 cases of female breast cancer. According to statistics by the Government of Canada, released in November 2021, about 229,200 Canadians were diagnosed with cancer in 2021, and prostate cancer was the most diagnosed cancer, accounting for 46% of all cancer diagnoses in 2021. Thus, the country's huge incidence and prevalence of cancer are demanding advanced therapeutics treatment, which is further predicted to boost the overall market's growth in the region.
Besides, well-established healthcare infrastructure and market players undertaking various research activities are also contributing to the market's growth. For instance, in September 2021, SkinCure Oncology declared positive results from a clinical trial, showing positive data (99.3% cure rate) for Image-Guided Superficial Radiotherapy (IGSRT) in treating basal cell carcinoma (BCC) and squamous cell carcinoma (SCC).
Hence, due to such factors, North America is anticipated to create opportunities for intraoperative radiation therapy, driving the overall market's growth over the forecast period.
