Varian Medical Systems, Inc. (NYSE:VAR) recently announced that Ofuna Chuo Hospital, Kamakura City, Kanagawa Prefecture is the first clinic in Japan to begin cancer treatment with the Halcyon radiotherapy system.
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This secures Varian’s hold in the global radiation therapy space.
Halcyon in Focus
The Halcyon system has been designed to provide technologically-advanced, high-quality treatment to cancer patients. The platform provides simplified and enhanced image-guided volumetric intensity-modulated radiotherapy. The product claims to be much superior to traditional technologies, thanks to the speed of treatment and improved quality of patient care it offers.
The flagship platform has seen a slew of developments in recent times.
Notably, Kenya’s The Nairobi West Hospital is the first clinic in the country and in West, Central, and East Africa to begin treating cancer patients using the Halcyonradiotherapy system.
Moreover, a 62-year-old male, suffering from thyroid cancer, became the first patient in Malaysia to receive Halcyon treatment at Beacon hospital, Selangor, Malaysia. (Read More: Varian Announces Halcyon's First Successful Case in Malaysia)
In the recently reported fiscal second quarter, Varian received the first Halcyon order from China, following its China National Medical Product Administration (NMPA) approval in the recent past. In the quarter, Varian received 36 Halcyon orders as well.
Market Prospects
MarketsandMarkets projects the global radiotherapy market to reach a worth of $6.8 billion in 2023, at a CAGR of 4.1%. Technological advancements, growing prevalence of cancer and the rising use of particle therapy for cancer treatment drive the market.
Other MedTech Giants Operating Globally
Other MedTech bigwigs who have fortified their stand globally are Accuray Incorporated (NASDAQ:ARAY) , ABIOMED (NASDAQ:ABMD) and Intuitive Surgical (NASDAQ:ISRG) .
Accuray’s Radixact and CyberKnife platforms face robust demand globally. Meanwhile, ABIOMED’s Impella and Intuitive Surgical’s da Vinci platforms rake in huge revenues internationally.
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