MRI-Guided Radiation Therapy Systems Market Size, Share, and Industry Analysis By Application (Prostate Cancer, Breast Cancer, Lung Cancer, Brain Cancer, and Others), By Strength (Less than 1.5-T, 1.5-T, and More than 1.5-T), By End User (Hospitals & Specialty Clinics, Radiotherapy Centers, and Others), and Regional Forecast 2024-2032

MRI-guided radiation therapy (MRgRT) combines medical imaging with radiation therapy, which allows precise visualization of internal body structures. It is one of the promising approaches for improving clinical outcomes for patients treated with radiation therapy. Radiation therapy (RT) remains one of the mainstays of cancer treatment and significant efforts are carried out to integrate MRI into the clinical RT monitoring and planning process. These systems offer several advantages, such as minimal radiation exposure, real-time monitoring, and the ability to evaluate treatment response throughout treatment. Thus, these factors exhibit MRgRT as a versatile emerging technology that has the potential to improve radiation therapy, which will further drive its demand during the forecast period.

Furthermore, increasing cases of chronic diseases, growing geriatric population, increasing healthcare expenditure, and growing focus on patient-centric care are some of the factors that are boosting the demand for these technologies.

• For instance, according to data published by the American Cancer Society in January 2023, an estimated number of new cancer cases in 2023 was around 1,958,310 in the U.S. Cancer incidence increased by 3.0% annually for prostate cancer from the past few years.

Moreover, radiotherapy centers are adopting technologically advanced MRI-compatible MRI models to study several possibilities for effective radiation therapy treatment. Market players are focusing on building strong relationships with clinicians, physicians, and original equipment manufacturers (OEMs) to tap into new opportunities in radiation therapy centers.

The global MRI-guided radiation therapy systems market experienced a decline in its growth during the COVID-19 outbreak due to lockdown restrictions. The decline in market growth was due to the reallocation of healthcare resources, disruptions in supply chains, and declining patient visits, which has slowed the adoption of these systems. Moreover, healthcare providers postponed and cancelled elective care worldwide, which resulted in the reduction of radiology imaging volume in the U.S. by 50.0% - 55.0%.

• According to data published by Sectra AB in September 2021, outpatient imaging witnessed a decline of more than 70.0% in volumes compared to 50.0% among inpatient and emergent scanning.

However, the market is projected to grow during the forecast period owing to a recovering number of imaging procedures, which is further leading to higher demand for MRI equipment. Moreover, companies are collaborating with several healthcare providers to expand their product offerings and boost product adoption.

Key Insights

The report covers the following key insights:

• Prevalence of Key Cancer - by Key Countries/Regions, 2022/2023


• Technological Advancements by Key Players


• Key Industry Developments (Mergers, Acquisitions, Partnerships, and Others)


• Impact of COVID-19 on the MRI-guided Radiation Therapy Systems Market

Segmentation

Analysis by Strength

Based on strength, the 1.5-T segment accounted for a significant market share in 2023. The growth of the segment is attributed to their strong installed base. Several companies such as Siemens Healthineers AG, Koninklijke Philips N.V., GE Healthcare, and others offer a strong product portfolio of imaging systems of this strength. Therefore, with the strong existing product portfolio, the companies will gain a competitive edge to enter the MRI-guided radiation therapy systems market and capture a significant share by offering advanced products.

• In September 2021, Siemens Healthineers AG collaborated with the University of Texas MD Anderson Cancer Center to develop an education program focused on implementing high-quality magnetic resonance imaging in radiation oncology. This will further advance imaging studies.

Furthermore, the more than 1.5 T segment is expected to grow at a considerable CAGR during the forecast period owing to the growing adoption of high-strength imaging systems. They have higher imaging quality such as higher spatial resolution. Thus, several potential benefits offered by this MRI strength will further contribute to the segment growth.

Regional Analysis

North America accounted for a significant share of the global digital diagnostics market in 2023. The regional growth is attributed to factors such as advanced healthcare infrastructure with easy access to advanced medical technologies, creating a lucrative environment for the integration of progressive treatment and diagnostic options such as MRI-guided radiation therapy technologies. Thus, the above factors would boost the adoption of these technologies, further contributing to the regional market growth.

Moreover, the Asia Pacific market is expected to grow at a significant CAGR during the forecast period. The regional growth is attributed to the increasing prevalence of chronic diseases coupled with the growing adoption of advanced technologies among emerging countries.

Key Players Covered

The report includes the profiles of MRI-guided Radiation Therapy Systems Market key players such as Elekta, Koninklijke Philips N.V., ViewRay, Inc. (ViewRay), Varian Medical Systems, Inc., and Accuray Incorporated.

Key Industry Developments

• In February 2023, Elekta received the FDA authorization to integrate advanced radiotherapy motion management in its Elekta Unity MR-Linac. This integration would help to calculate the movement of tumors anywhere in the body. This function would assist clinicians in using the enhanced adaptive radiation therapy workflow to deal with moving organs more accurately.


• In July 2023, Elekta showed the potential of high-field MR-guided radiotherapy (MRgRT) in transforming cancer treatment at the 18th MR-Linac Consortium meeting.


• In October 2022, Koninklijke Philips N.V. announced advancement in neck and head cancer radiotherapy imaging and simulation by integrating artificial intelligence into its current radiotherapy solutions. This would allow the use of magnetic resonance (MR) as the primary imaging modality for radiotherapy planning in soft tissue tumors treatment.