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What are the Key Growth Drivers of MRI-Guided Radiation Therapy Systems Market

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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.

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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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Chapter 1 – Executive Summary

This chapter provides the outlook of key growth prospects as a results of thorough analysis on the MRI-guided radiation therapy systems market.

Chapter 2 – Market Overview

Definition of the market along with the market structure is included in this chapter to offer readers a detailed introduction to MRI-guided radiation therapy systems market. This chapter offers key pointers on prospects the MRI-guided radiation therapy systems market for the period 2018-2028 in terms of value (US$ million) and volume (units).

Chapter 3 – Key Market Trends

This chapter provides thorough information about key trends in the MRI-guided radiation therapy systems market and how these trends will influence prospects of the market in coming future.

Chapter 4 – Key Inclusions

This chapter includes important information global development indicators, such as installation base and regulatory scenario, which may impact growth of the MRI-guided radiation therapy systems market. The section focuses on regulations and standards imposed by governing bodies for approval of medical devices, including MRI-guided radiation therapy systems.

Chapter 5 – Key Success Factors

This section highlights important parameters of the positive growth of MRI-guided radiation therapy systems market including key promotional strategies adopted by leading manufacturers in the market.

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According to the study, North America accounted for 45% sales of MRI-guided radiation therapy systems in 2018. Healthcare organizations in the region are investing heavily in tech-driven radiation treatments for cancer. While demand remains robust in developed markets, developing economies are also emerging as attractive markets for MRI-guided radiation therapy systems. Increasing government investments in healthcare infrastructure in the region, are expected to create new opportunities for the players in the MRI-guided radiation therapy systems market.

The study offers comprehensive outlook of the MRI-guided radiation therapy systems market for the period, 2018 to 2028. The MRI-guided radiation therapy systems market is projected to record a CAGR of approximately 20% through 2028.

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