Market Size of Tumor Tracking Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Tumor Tracking Systems Market Analysis
The Tumor Tracking Systems market studied is anticipated to grow with a CAGR of nearly 4.9% over the forecast period.
The COVID-19 pandemic had a major impact on the tumor tracking systems market. Cancer treatments were postponed at the beginning of the pandemic as the hospitals and surgeons were advised to postpone or cancel elective procedures. For instance, according to the study published by JAMA Network Open, in January 2021, as a result of the system- and patient-level factors related to the COVID-19 pandemic, cancer care was delayed or altered. Half of the European breast centers altered systemic treatments during the pandemic, and one-fifth of patients experienced delays in radiation therapy. Hence, COVID-19 significantly impacted cancer treatment, thereby impacting the tumor tracking systems market. However, the market is witnessing stabilized growth currently owing to the decrease in COVID-19 cases and is expected to project a similar trend over the coming years, as per the analysis.
Factors such as the increasing prevalence of tumor cancers and technological advancements are expected to drive the growth of the market over the forecast period. According to Cancer Statistics 2022, the estimated number of new cancer cases in 2022 was 1.9 million new cancer cases in the United States, and by 2040, the global burden is expected to grow to 27.5 million new cancer cases. Additionally, according to an article published in the Chinese Medical Journal, in January 2022, there were approximately 4,820,000 new cancer cases in China in 2022. Thus, with an increase in cancer cases, the demand for tumor-tracking system increase, driving the growth of the market.
The increasing product approvals, launches, partnerships, and acquisitions by key market players are projected to augment the market growth. For instance, in August 2021, Manipal Hospitals launched the Radixact X9 Tomotherapy with synchrony tumor tracking technology aimed at the precise treatment of cancer patients. The synchrony technology on the Radixact X9 system can track the tumor in the lung in real-time, which moves with the patient's natural breathing and automatically adjusts the radiation beam precisely targeting the moving tumor. Such developments are expected to boost the market growth.
Therefore, owing to the aforementioned factors, the studied market is anticipated to witness growth over the analysis period. However, a lack of skilled professionals is likely to impede market growth.
