Superficial Radiation Therapy System Market

2020 Analysis and Review: Superficial Radiation Therapy System Market by Application – Basal Cell Carcinoma, Keloid Scars, Psoriasis, et al for 2020-2030

Market Outlook and Key Findings

  • The global superficial radiation therapy systems market is expected to witness a CAGR of 3.7% between 2020 and 2030
  • The US and Europe will continue to be the leading markets
  • The Covid-19 outbreak has caused a decline in growth, but recovery expected by second quarter of 2021
  • Ambulatory surgical centers can provide an impetus to the market once recovery starts

Superficial Radiation Therapy Systems Market Snapshot

Radiation, as a viable treatment for cancer, has been around for more than a century now.

Wilhelm Conrad Roentgen, a German physics professor, presented a lecture titled “Concerning a New Kind of Ray” in the 1890s wherein he introduced the X-ray and its relevance with respect to the global healthcare space.

What followed were multiple research processes carried out by scientists and physicians to make use of X-ray in cancer diagnosis, and within the next few years, radiation successfully made its way into the cancer treatment scene.

In the recent past, the healthcare industry has been spectating the debut of new treatment models for cancer patients at an unprecedented rate.

Some of the major trends that warrant this pursuit include growing pipeline of cancer-drug candidates and evolution of clinical trial landscape.

Superficial radiation therapy systems, on account of their claimed benefits, gained massive popularity as non-invasive options for efficacious skin cancer treatment.

Along with seamless elimination of the risk of post-surgical infections and associated complications, superficial radiation therapy (SRT) has proved to be a breakthrough to appropriately deal with benign conditions.

As of now, it’s imperative to design systems providing precision with regards to radiation penetration, so as to render proper treatment. Such technology will certainly help the market stand in a good stead in the near future.

SRT is carving its place as an ideal alternative of Mohs surgery, which is popular for being the gold standard for skin cancer treatment.

Adoption of superficial radiation therapy is being increasingly considered as a treatment option for challenging cases, thereby laying growth grounds for market vendors in the future.

However, the key market vendors will have to scale up the R&D efforts along with production capabilities, given that SRT has still a long way to go in terms of massive adoption over the conventional surgical procedures

Notable Developments

In May 2019, KCI announced that it had obtained US FDA’s approval for its PREVENA negative pressure incision management system for helping with reduction of superficial site infections in the ones who are prone to post-op infections.

On these lines, Alpha Tau Medical, in Dec 2018, developed a technology to cure tumors by having injected them with the radioactive material that is capable of attacking and destroying cancer cells. The entire procedure takes close to 2 hours and could be administered for superficial tumors.

In Jul 2018, SkinCure Oncology, LLC inked an agreement with Sensus Healthcare Inc., so that the former makes way for full delivery solution for the SRT-100 Vision – one of the most innovative and technically advanced products from the latter. This product would address keloids and NMSC (non-melanoma skin cancers).

Market Players Focusing on Innovation

The superficial radiation therapy systems market players as well as research institutes are on to the “innovation” spree to make a distinct mark for themselves amidst the rising incidences of cancer. This trend is likely to upscale the market in the years to come.

For instance –

  • In Aug 2020, Sensus Healthcare, Inc. announced acquiring Aesthetic Laser Partners and Aesthetic Mobile Laser Services to lay its hands on novel dermatology accounts for its SRT systems along with introduction of novel line of lasers expected to hit the market by the end of 2020.
  • In Jun 2020, PMB did launch “FLASHKNiFE”. It comes across as a FLASH radiotherapy system developed to cater to clinical trials. As such, a high dose of radiation would be administered for intraoperative radiotherapy and skin cancer treatment.
  • In Jun 2020, IntraOp Medical Corporation entered a research and development collaboration with the Lausanne University Hospital for expediting FLASH radiotherapy’s development in the direction of first human trials.
  • In Mar 2020, Reflexion Medical Inc. obtained approval from the US FDA for marketing its Reflection X1 system on the count of radiation therapy treatments. The company further aims to bring multi-tumor precision radiotherapy to every stage of cancer treatment.
  • In Feb 2019, Sensus Healthcare granted medical clearance to its “Sculptura” radiation oncology system. Sculptura is known for providing cancer patients single line of radiation treatment at point of surgery.
  • In Mar 2018, Sensus Healthcare launched “Sensus laser Systems”, thereby offering a broad range of clinical and aesthetic solutions to the patients not only regarding skin cancer but al regarding their external appearance.
  • In Feb 2018, Xstrahl released its RADiant therapy system that comes with dual modality making it a non-surgical, pain-free alternative to treat superficial lesions, keloids, and skin cancers.
  • In Dec 2017, the US FDA approved a new SBRT (stereotactic body radiotherapy) device termed as “GammaPod” to treat early breast cancer.

Artificial Intelligence (AI) in SRT: Marking the Dawn of New Possibilities

Artificial intelligence (AI) has been one of the most prominent buzzwords in every other vibrant field, with radiotherapy being one of the prominent ones. The use of artificial intelligence in healthcare in superficial radiation therapy isn’t anything new.

However, the changing face of artificial intelligence is likely to have deeper influences on the product development space of superficial radiation therapy market, as it will make way for the debut of new features and attributes into the existing systems.

Integration of AI in superficial radiotherapy comes with profound influences on multiple areas, some of them being treatment planning, automated image, and clinical decision support.

Rising need for personalized radiation therapy will also add impetus to the penetration of AI in superficial radiation therapy systems, wherein AI can make use of historical data to personalize the dosage for independent patient cases.

Region-wise Analysis

With skin cancer being one among the primary concerns in North America, a significant transformation of cancer care delivery systems in the region is well underway. The US superficial radiation therapy systems market remains one f the most lucrative globally, followed by Europe superficial radiation therapy systems market.

The core objective behind this transformation is to not only ensure successful outcomes but also enable effective treatment with minimum post-operative complications.

This is where superficial radiation therapy system comes into play, setting the stage for the market vendors to tap into untapped opportunities and reap profits.

Additional efforts put in place to ensure that advances in cancer treatment are widely accessible and affordable to skin cancer patients in North America will further underpin the lucrativeness of this regional market through 2029.

Superficial Radiation Therapy Systems Market: Competitive Landscape

The key market players are into expansion of their superficial radiation therapy systems to gain a competitive edge over each other.

For instance – In Jul 2018, SkinCure, LLC announced deliver of 69th SRT 100-Vision System in accordance with strategic agreement coined with Sensus Healthcare Inc.

Also, in Mar 2018, Sensus Healthcare did open its Tel Aviv R&D office for meeting demand from the increasing client base. In fact, the year 2018 marked the expansion of Sensus Healthcare in aesthetics and even beyond. Likewise, companies are investing in organic expansion to strengthen their foothold herein.

The other major players in the superficial radiation therapy systems market include:

  • Mevion Medical Systems
  • Varian Medical Systems Inc.
  • Ion Beam Applications
  • RaySearch Laboratories
  • Elekta AB
  • Mitsubishi Electric Corporation
  • IsoRay Inc.
  • Xstrahl Ltd.
  • Nordion Inc.

Superficial Radiation Therapy Systems Market: The Way Forward

The superficial radiation therapy systems market is expected to witness arithmetic progression at 3.7% growth as per FMI’s analysts.

Though Covid-19 has resulted in temporary slowdown, the market is expected to get restored to normalcy from the year 2021.

The key market players need to focus on coming up with offbeat therapies, so as to stand out in the market.

Getting away from the beaten trot will help them to reach the top pedestal in the forecast period (2020-2030).

Decoding the Opportunities in North America

With skin cancer being one among the primary concerns in North America, a significant transformation of cancer care delivery systems in the region is well underway. The core objective behind this transformation is to not only ensure successful outcomes but also enable effective treatment with minimum post-operative complications. This is where superficial radiation therapy system comes into play, setting the stage for the market vendors to tap into untapped opportunities and reap profits.

Additional efforts put in place to ensure that advances in cancer treatment are widely accessible and affordable to skin cancer patients in North America will further underpin the lucrativeness of this regional market through 2029.

Artificial Intelligence (AI) in SRT: Marking the Dawn of New Possibilities

Artificial intelligence (AI)  has been one of the most prominent buzzwords in every other vibrant field, with radiotherapy being one of the prominent ones. The use of artificial intelligence in healthcare in superficial radiation therapy isn’t anything new. However, the changing face of artificial intelligence is likely to have deeper influences on the product development space of superficial radiation therapy market, as it will make way for the debut of new features and attributes into the existing systems.

Integration of AI in superficial radiotherapy comes with profound influences on multiple areas, some of them being treatment planning, automated image, and clinical decision support. Rising need for personalized radiation therapy will also add impetus to the penetration of AI in superficial radiation therapy systems, wherein AI can make use of historical data to personalize the dosage for independent patient cases. 

How Growth will Unfold?

Key vendors in the superficial radiation therapy market are focused on delivering superficial radiation therapy systems that ensure outstanding clinical accuracy with excellent outcomes. Constant innovations remains a key focal point for the vendors to carve out their own niche in the superficial radiation therapy market. For instance, in 2018, Sensus Healthcare, Inc. installed the SRT-100+ system at the Hillcrest Plastic Surgery in Orlando, Fla., dedicated to the treatment of keloid scars.

Strategic alliances, including mergers and acquisitions, will hold utmost significance in the market players’ growth agendas. Key companies operating in the superficial radiation therapy market will also focus on participation in seminars and conferences to expand their relations with fellow market players and expand their sphere of influence. For instance, in 2019, Sensus Healthcare came up with a presentation at the ‘Raymond James Inaugural Life Sciences and MedTech Conference’.

Key Segment

By Product Type

  • Superficial Radiation Therapy Systems
  • Superficial Radiation Therapy Software

By Application

  • Basal Cell Carcinoma
  • Squamous Cell Carcinoma
  • Keloid Scars
  • Psoriasis
  • Kaposi Sarcoma (Plaque Stage)
  • Bowen’s Disease
  • Cutaneous T-cell Lymphoma
  • Soft Tissue Metastases

By End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Cancer Research Institutes
  • Dermatology Centers

By Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa

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