North America will hold the largest share of the global radiotherapy market, with worldwide markets expected to grow at a compound annual growth rate (CAGR) of 6.2% between 2015 and 2020, according to new research by RnRMarketResearch.com.
The next largest market will be Europe, with Asia-Pacific poised to witness the highest growth rate during the forecast period, due to a number of factors including improved healthcare infrastructure and government activities.
Market growth is being driven by technological advancements in radiotherapy products, an aging population, increasing cancer incidence across the globe, and growing adoption of radiotherapy devices and procedures.
As of 2014, the global radiotherapy market was dominated by Varian Medical Systems, Elekta, and Accuray, which together held an 85% share of the overall radiotherapy market.
In terms of market segments, the external-beam radiotherapy segment accounts for the largest share of the radiotherapy market in 2015, and it is expected to grow at the highest rate.
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