The rising incidence of cancer, technological advancements, and advantages offered by IORT are the major factors driving the growth of the global intraoperative radiation therapy market. Research and clinical trials are also being conducted to expand the applications of IORT; this will add to market growth prospects in the coming years. However, the complexity of this technology is indicative of the need for skilled and trained personnel, which may hinder market growth given a current dearth of manpower in many parts of the world

Global intraoperative radiation therapy market is projected to reach USD 66 million by 2025 from USD 48 million in 2020, at a CAGR of 6.4% during the forecast period.

Based on application, the intraoperative radiation therapy market is segmented into breast cancer, brain tumor, gastrointestinal cancer, head & neck cancer, colorectal cancer, endometrial and cervical cancer, lung cancer, and other cancers. IORT offers a reduced amount of irradiation, shorter treatment time, and lesser clinical effects on the skin, lung, and heart. Furthermore, in the case of early-stage breast cancer, IORT offers partial breast irradiation and can be used as a breast-conserving alternative to traditional lumpectomy and mastectomy. Intraoperative radiotherapy offers advantages such as high precision, better cosmetic outcomes, greater patient comfort, and cost-effectiveness. These factors driving adoption of IORT for breast cancer appication.

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Based on technology, the intraoperative radiation therapy market is segmented into electron IORT and intraoperative brachytherapy. The electron IORT segment is expected to account for the largest share of the intraoperative radiation therapy market in 2019. IOERT is a suitable option for patients with locally advanced or recurrent cancer such as partial breast and rectal cancer. Thus, rising target patient population, promising clinical trials, and growing R&D investments will further drive the segment growth.

The major players in the Intraoperative radiation therapy market are ZEISS Group (Germany), iCAD, Inc. (US), Eckert & Ziegler (Germany), Elekta AB (Sweden), GMV Innovating Solutions (Spain), Sensus Healthcare, Inc. (US), IntraOp Medical, Inc. (US), Isoray, Inc. (US), Becton, Dickinson and Company (US), Sordina IORT Technologies (Italy), Varian Medical Systems, Inc. (US), SeeDos Ltd. (UK), IsoAid LLC (US), Ariane Medical Systems Ltd. (UK), Panacea Medical Technologies Pvt. Ltd. (India), Salutaris Medical Devices (US), Brainlab AG (Germany), RaySearch Laboratories (Sweden), REMEDI Co., Ltd. (South Korea), Merit Medical Systems, Inc. (US), among others.

ZEISS is among the pioneer companies that combined surgery with radiotherapy to develop and introduce intraoperative radiation therapy to the cancer treatment field. The flagship product of the company, INTRABEAM, is one of the most widely used IORT products across the globe. INTRABEAM is a revolutionary, intraoperative form of radiation therapy for early-stage breast cancers. It allows radiation treatment and breast-conserving surgery to be performed simultaneously. As a result, the need for several weeks of external radiation therapy following surgery can often be minimized or eliminated.

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The North American region is expected to account for the largest share of the intraoperative radiation therapy market in 2019. The growth in this market is mainly attributed to the increasing healthcare expenditure in the region, technological advancements, and high adoption of IORT products owing to the increasing incidence of cancer.

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