Global Chile Radiotherapy Market by Type (External Beam, Systemic Radiotherapy, Internal Beam), by Application (Lung, Colorectal, Head & Neck Cancer, Prostate, Breast) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Chile's radiotherapy market was worth USD 21.3 Million in 2020. It is expected to grow at a 6.7% compound annual growth rate (CAGR), between 2021 and 2028. Market growth can be attributed mainly to rising cancer rates and increasing radiotherapy adoption. The radiotherapy market is also growing because of technological advances in radiotherapy and rising healthcare spending. According to the International Agency for Research on Cancer (IARC), Chile had 54,227 new cases of cancer in 2020.

The most common risk factor for cancer is ageing. A study found that 60% of cases were in 65-year-olds. In Chile, 18.3% and 8.7% respectively of all cancer cases were prevented by smoking and obesity.

Cancer can also be caused by certain factors such as improper diet, alcohol intake, and inactivity. BMC Cancer estimates that around 30% of all cases and 36% deaths can be attributed to lifestyle risks in the region. It is possible to prevent 15,097 cases by adopting a healthy lifestyle. This will lead to an increase of cancer incidence which will drive the market.

To bridge infrastructure gaps and promote healthy living, the government of Chile has increased healthcare spending. The OECD data shows that the healthcare spending as a percentage of GDP rose from 8.9% to 9.1% in 2018 to 9.1% in 2019.

The National Cancer Plan was introduced by the government. It aims to increase the survival rate of patients from 40% up to 60% by 2028. This strategy ensures everyone has access and receives fair and timely service. The National Oncology Network, including facilities and equipment, ensures all patients in Chile have high-quality, timely care. The Chilean government plans to spend USD 27.72 millions a year on equipment and facilities for oncology. Market growth will be driven by an increase in healthcare spending.

Chile is home to enough radiation oncologists, but it lacks the equipment needed to meet current international standards for radiotherapy. An article states that 15 of the 42 LINACS in Chile have been in operation for over 10 years and need to be replaced.

Type Insights

External beam radiotherapy was the dominant segment of the market, accounting for 86.5% of the total revenue in 2020. Radiotherapy using external beam radiation is the most popular form. External beam radiation therapy devices like LINACs and CyberKnife as well as GammaKnife and Tomotherapy equipment will continue to grow at a rapid pace. Market growth is due to technological advances and increased awareness of treatment options. External Beam Radiation Therapy is highly effective for many conditions such as breast cancer and esophageal carcinoma, colorectal cancer, prostate cancer, and others.

Due to factors like the ability to deliver precise doses and increased patient preference as well as cost-effectiveness, the internal beam radiotherapy segment will see the fastest growth. According to data from ALATRO (Latin American Association of Radiation Oncological Therapy), Chile has 7 HDR and 2 HDR brachytherapy units as of 2017. According to DIRAC data, Chile has 12 brachytherapy units as of January 2021.

Application Insights

In 2020, the Chile radiotherapy market was dominated by the prostate cancer segment. It accounted for 24.9% of the total revenue. Due to the high rate of treatment and incidence in Chile, this segment will see the most growth during the forecast period. According to IARC statistics in Chile, the incidence of the disease is around 8,157 in 2020. This number is expected rise to 11,700 by 2030.

Due to lifestyle changes, the lung cancer segment will grow at a rapid pace in the next few years. According to IARC, there were approximately 4,000 new cases of lung cancer in Chile in 2020. This number will rise to 5,500 by 2030. Smoking is a major factor in the rising rate of this disease. According to the national health survey, 32.5% are currently active smokers in Chile.

Market Share Insights & Key Companies

Companies are adopting strategies to make it easier to utilize their resources for the development of new products. Elekta AB, for example, entered into a research partnership with Universidad de La Frontera in March 2018 to develop innovative equipment for radiation treatment treatments. Researchers have created a compact device that emits an X-ray convergent beam in external radiotherapy. This increases the effectiveness and distributes the dose more evenly. The majority of these companies don't sell directly to Chilean customers, but rather sell products through local distributors. The following are some of the most prominent players in Chile's radiotherapy market:

• Varian Medical Systems, Inc.

• Elekta AB

• Accuray Incorporated

• Becton, Dickinson and Company

• Isoray Medical

• NTP Radioisotopes SOC Ltd.

Up Market Research published a new report titled “Chile Radiotherapy Market research report which is segmented by Type (External Beam, Systemic Radiotherapy, Internal Beam), by Application (Lung, Colorectal, Head & Neck Cancer, Prostate, Breast), By Players/Companies Varian Medical Systems Inc, NTP Radioisotopes SOC Ltd, Isoray Medical, Becton Dickinson and Company, Accuray Incorporated, Elekta AB”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Chile Radiotherapy Market Report Segments:

The market is segmented by Type (External Beam, Systemic Radiotherapy, Internal Beam), by Application (Lung, Colorectal, Head & Neck Cancer, Prostate, Breast).

Chile Radiotherapy Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Chile Radiotherapy Market

Overview of the regional outlook of the Chile Radiotherapy Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Chile Radiotherapy Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Chile Radiotherapy Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. External Beam

                2. Systemic Radiotherapy

                3. Internal Beam

                1. Lung

                2. Colorectal

                3. Head & Neck Cancer

                4. Prostate

                5. Breast

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Chile Radiotherapy Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Chile Radiotherapy Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.