The “Global Treatment Planning Systems And Advanced Image Processing Market Size, Share & Trends Analysis Report by Component, by Technique, by Application (Adaptive Radiotherapy, Dose Accumulation), by Region, and Segment Forecasts, 2021-2028” report has been added to ResearchAndMarkets.com’s offering.
The global treatment planning systems and advanced image processing market size is expected to reach USD 3.0 billion by 2028. The market is expected to expand at a CAGR of 7.8% from 2021 to 2028.
The increasing prevalence of cancer and rising product development pertaining to cancer research undertaken by key players are driving the market growth. According to estimates published by GLOBOCAN in 2020, 19.3 million new cancer cases were diagnosed and 10.0million cancer-related mortalities recorded.
As per the WHO, cancer is the leading cause of death globally and claims one in every six lives. According to Novartis, there are more than 200 types of cancers prevalent in the world and each requires a unique diagnosis and line of treatment. The growing cancer burden is expected to boost the demand for advanced oncology therapies with accurate and efficient results, thereby aiding the market growth.
Moreover, the oncology space is witnessing innovations and investments by market leaders to develop novel technologies that possess the potential to alter the treatment regime drastically. Advancements in healthcare infrastructure and the unraveling of opportunities in emerging markets are contributing to growth. Governments around the world are promoting public-private collaboration to accelerate product development.
Recent developments in the field of imaging technology have found wide-scale adoption in treatment planning, treatment simulation, and image guidance in radiotherapy processes. For instance, in January 2021, OncoLens raised USD 7.3 million in a Series A funding round. Additionally, General Atlantic invested around USD 200.0 million for launching OneOncology, a company designed for helping community oncology practices with technical data, innovation, and research. Furthermore, Purdue Pharma L.P is investing in its oncology R&D to diversify scientific research in high unmet medical need areas and thereby establishing a potential portfolio of delivering new cancer therapies to patients over the forthcoming years.
Furthermore, Artificial Intelligence (AI) and Machine Learning (ML) are witnessing increased adoption in oncology software systems to improve diagnosis, treatment plan, simulation, and management. The amalgamation of AI/ML has significantly improved diagnosis and imaging segments of oncology care. One such highlight of these deep learning algorithms was detecting skin cancer based on skin photographs.
AI used in cancer screening and detection further aids in treatment planning processes and prevents collateral tissue/organ damage. For instance, the American College of Radiology founded the Data Science Institute to promote collaboration amongst radiologists, private and public agencies to adopt and develop Ai-based imaging solutions. Similarly, the American Society of Clinical Oncology and American Society for Radiation Oncology initiated CancerLinQ and the National Institute of Health founded Big Data to Knowledge initiative. Additionally, the increase in investments in AI for oncology is contributing to market development and growth.
Treatment Planning Systems And Advanced Image Processing Market Report Highlights
- The market is anticipated to witness significant growth over the forecast period owing to the increasing prevalence of cancer and rising investments in oncology
- Treatment planning software dominated the treatment planning systems and advanced image processing component segment in 2020, owing to increased demand for accurate and precise treatment options
- Validation of image registration application dominated the market in 2020 owing to an increasing need of forming real-time image datasets from multi-modalities and anatomical atlases
- North America dominated the market in 2020 owing to the presence of sophisticated healthcare infrastructure and cancer research institutes coupled with high healthcare expenditures
- Increasing prevalence of cancer
- Increasing investments and strategic initiatives in radiology and oncology
- Increasing number of radiotherapy centers and hospitals adopting technologically advanced radiotherapy machines and software
- Rising adoption of ai/ml in oncology software
- Shortage of healthcare personnel in information technology and radiology sector
- Capital intensive market
- Cybersecurity and privacy concerns
- Real-time monitoring and tracking of cancer progression
- Accuray Incorporated
- Elekta AB
- MIM Software, Inc.
- ViewRay Technologies, Inc.
- DOSIsoft SA.
- Prowess, Inc.
- Varian Medical Systems, Inc.
- RaySearch Laboratories
- Koninklijke PHILIPS N.V.
For more information about this report visit https://www.researchandmarkets.com/r/1v2v6q
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