And what’s going to drive that replacement cycle is new technology. And this is a picture of our TrueBeam machine that rolled out about two year ago. And again, what we are focused on is giving the best quality treatment at the lowest possible cost for treatment. So this is looking at precision, putting the dose exactly where it needs to be, looking at patient throughput, getting treatment done in as little as 10 to 15 minutes that use to take 30 to 45 minutes, and a lot of work around workflow and usability and making our equipment easy to use.
The equipping of emerging markets I'm going to come back to, we’ll show you a few statistics. But suffice it to say, if we were to bring the international markets not even to the full U.S. standard, we would need 10,000 machines around the globe, so a lot of growth opportunity outside of North America. Our service business is growing in the low to mid teens. As the machines become more complex, it’s more difficult for the hospital to service their won equipment. So we get a higher capture rate of the service contracts.
And as the installed base grows, again, we're getting more service contracts at a very high margin. This is about a 50% margin product line. And we are offering additional services to our customers as well, expanding clinical applications, and this is again being able to provide any and every form of radiation therapy for the patient that walks through the door, whether it's traditional radiation therapy that takes 30 to 40 treatment sessions, or whether it's stereotactic radiosurgery, which can get a treatment done in as little as one to five sessions. We’ve gotten very good at certain cancers on turning them into chronic manageable diseases, but there are unfortunately other cancers where just little progress has been done. We're very focused today on managing motions and not only treating the tumor but treating it real time as it moves. And that’s going to make we think significant progress in lung, liver, and pancreas, which is the next area of real focus for us.