Radiation Oncology Market Size, Share & Trends Analysis Report By Type, By Application, By Technology, By Region And Segment Forecasts From 2021 To 2028

Report ID: MN17617329  |  Published: November 2022  |  No of Pages: 130
Format: Electronic (PDF)  |  Industry: Medical Devices

The global radiation oncology market size is projected to reach USD 11.7 billion by 2028 and reveal a CAGR of 7.0%. Radiation oncology of radiotherapy is one of the most significant modalities of cancer treatment. The growing occurrence of cancer and technological advancements to cater to the treatment needs in patients, especially in radiation therapy equipment is a major driving factor for the market growth.

The radiation oncology market is widely driven by several significant factors such as expansion in the usage of radiotherapy for the treatment of cancer. Advancements in radiation oncology treatments include real-time imaging and motion tracking which helps improve radiation targeting, reducing and limiting the exposure to remaining healthy tissues in the surroundings. The combination of radiotherapy and 4D imaging, known as 4D radiotherapy allows the tracking of a tumor in real-time, providing data and information about the tumor’s size, area, shape, and volume with accuracy. It allows physicians to compensate for the movements of the patient, organ, or tumor and deliver a conformal dose.

However, the shortage of skilled radiotherapy professionals and oncologists, and inadequate healthcare infrastructure majorly in developing countries are two of the prime restraining factor for the overall radiation oncology market growth. In addition, the sudden arrival of the COVID-19 pandemic also had a negative impact on market growth owing to the capital equipment purchase being withheld and redirected toward the treatment for COVID-19.

Nonetheless, the radiation oncology market has been witnessing continuous technological advancements and innovations that make techniques more specific and the devices deliver results with better accuracy. Moreover, accelerating public-private funding and investments to enhance cancer research in order to bring advancements and developments in its diagnosis and treatment is expected to positively impact the market growth globally. The market players are majorly focusing on innovative strategies like partnerships, acquisitions, and advanced product launches. An article published in 2017 by Seminars in Radiation Oncology stated that over 12,000 additional machines for treatment will be required solely in low- and middle-income countries by 2035.

Radiation Oncology Market Report Key Takeaways

  • The prostate cancer segment in the IBRT application majorly dominated the market in 2020 owing to the brachytherapy applications in prostate cancer treatments
  • North America dominated the market in 2020 and registered a revenue share of more than 44.0% owing to the reimbursement policies, better healthcare infrastructure, and the presence of key players
  • In April 2022 Elekta joined hands with GE Healthcare with the aim to deliver hospitals a complete suite across treatment and imaging for patients requiring radiation therapy
  • In December 2020, an American radiation oncology and treatment provider named Varian joined hands with Yonsei Cancer Centre through which the cancer center uses Varian’s AI solutions and services to detect cancer in its early stages


Radiation Oncology Market Segmentation

  • Radiation Oncology Type Outlook (Revenue, USD Million, 2017 - 2028)
    • EBRT
      • Linear Accelerators (Linacs)
      • Compact Advanced Radiotherapy Systems
        • Cyberknife
        • Gamma Knife
        • Tomotherapy
    • Proton Therapy
      • Cyclotron
      • Synchrotron
    • Internal Beam Radiation Therapy
      • Brachytherapy
        • Seeds
        • Applicators and Afterloaders
        • Electronic Brachytherapy
      • Systemic Beam Radiation Therapy
      • Others
  • Radiation Oncology Technology Outlook (Revenue, USD Million, 2017 - 2028)
    • EBRT 
      • Image-Guided Radiotherapy (IGRT)
      • Intensity Modulated Radiotherapy (IMRT)
      • Stereotactic Technology
      • Proton Beam Therapy
      • 3D Conformal Radiotherapy (3D CRT)
      • Volumetric Modulated Arc Therapy (VMAT)
    • Brachytherapy
      • Low-Dose Rate Brachytherapy
      • High-Dose Rate Brachytherapy
  • Radiation Oncology Application Outlook (Revenue, USD Million, 2017 - 2028)
    • EBRT
      • Prostate Cancer
      • Breast Cancer
      • Lung Cancer
      • Head and Neck Cancer
      • Colorectal Cancer
      • Others
    • Internal Beam Radiation Therapy
      • Prostate Cancer
      • Gynecological Cancer
      • Breast Cancer
      • Cervical Cancer
      • Penile Cancer
      • Others
  • Radiation Oncology Regional Outlook (Revenue, USD Million, 2017 - 2028)
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • Spain
      • Italy
      • Russia
      • France
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
      • Singapore
    • Latin America
      • Mexico
      • Brazil
      • Argentina
    • MEA
      • South Africa
      • Saudi Arabia
      • UAE
  • List of Key Players in Radiation Oncology Market
    • Varian Medical Systems, Inc.
    • Elekta AB
    • Accuray Incorporated
    • Ion Beam Applications (IBA)
    • C.R. BARD, INC. (BD)
    • Isoray Medical
    • Mevion Medical Systems, Inc.
    • Nordion Inc.
    • NTP Radioisotopes SOC Ltd.
    • Curium Pharma
    • Viewray Technologies, Inc.
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