Radiation-based Therapy and Therapeutic Imaging

Report Highlights

• The U.S. market for radiation-based therapy and therapeutic monitoring equipment is projected to rise at an AAGR (average annual growth rate) of 7.6% from $4 billion in 2004 to $5.7 billion in 2009.
• Oncology applications accounted for the largest share of the market after general surgical applications. Other major applications were neurosurgery and orthopedic surgery.
• The fastest-growing applications are projected to be neurosurgery, dentistry and veterinary medicine.
• General surgery is expected to be the slowest-growing segment and its share of the total market is expected to shrink from 51.1% to 41.5%.

INTRODUCTION

Therapeutic radiation (TR) in the form of ionizing radiation has been used for more than 100 years to treat cancer and certain other diseases. More recently, other forms of TR (e.g., x-ray, radio frequency, ultrasound and laser) have been added to the physicians' arsenal against disease.

As the medical profession moves towards greater reliance on minimally invasive and noninvasive therapeutic procedures, therapeutic uses of radiation are growing in importance. Radiation often can be used to treat a disease or pathology without an incision, or using a very small incision. Radiation equipment also is widely used in conjunction with other minimally invasive surgical procedures to guide other instruments.

This BCC report identifies and describes segments of the TR market with the greatest commercial potential in the near to midterm (2004 through 2009), projecting future demand in these segments, and evaluating challenges that must be overcome for each segment to realize its full commercial potential.

SCOPE OF STUDY

The report contains:

• Definitions of and milestones in the development of TR
• Examination of existing TR technologies and technologies under development
• Analysis of intellectual property and patent portfolios
• Analysis of current and potential TR applications
• Market forecasts for TR applications and end-user segments with the greatest commercial potential in the U.S. through 2009
• Analysis of the industry's structure and market shares.

METHODOLOGY AND INFORMATION SOURCES

The specific methodologies and assumptions used to develop the market projections are described below under Detailed Market Estimates and Projections. This section includes some general observations concerning the report's approach to estimating the market.

The report findings and conclusions are based on interview data combined with information gathered through an extensive review of secondary sources, such as trade publications, trade associations, company literature and on-line databases.

At the time the report was prepared (i.e., early 2005), year-end data for 2004 generally were not yet available. Therefore, market estimates for 2004 were developed using interim (partial) data for 2004 wherever available, combined with an analysis of historical market trends as well as key market drivers.

All dollar projections in this report are in constant 2003 dollars.

ANALYST CREDENTIALS

The author of this report is Andrew McWilliams. Mr. McWilliams, a partner in the Boston-based international technology and marketing consulting firm of 43rd Parallel LLC. Mr. McWilliams is the author of a number of other Communications Co. studies. In particular, he has written several other opportunity studies related to the biomedical field, including C-140N Trends in the Noninvasive and Minimally Invasive Medical Device Market, B-182 Medical Robotics and Computer-Assisted Surgery Market, B-185 Medical Diagnostic Reagents, Carriers and Other Consumables B-186 Patient Monitoring Devices, B-127R Microelectronic Medical Implants: Products, Technologies and Opportunities, and B-159R Biosensors and Bioelectronics.