The worldwide radiation therapy market is expected to reach $3.6 billion in 2018 due to an increasing number of cancer patients, according to a GlobalData news release.
This increase would represent a compound annual growth rate of 9.1 percent starting from nearly $2 billion in 2011.
While linear accelerators and other radiation therapy devices are expected to increase as countries such as China and India gain awareness and purchasing power, sales in the United States and Europe are predicted to be driven by replacement orders in an effort to deliver more efficient care, according to the release.
GlobalData attributed the growth in cancer patients to an aging population and a rise in tobacco consumption, especially in developing nations such as China.
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This increase would represent a compound annual growth rate of 9.1 percent starting from nearly $2 billion in 2011.
While linear accelerators and other radiation therapy devices are expected to increase as countries such as China and India gain awareness and purchasing power, sales in the United States and Europe are predicted to be driven by replacement orders in an effort to deliver more efficient care, according to the release.
GlobalData attributed the growth in cancer patients to an aging population and a rise in tobacco consumption, especially in developing nations such as China.
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