Radiation Oncology Market Size Worth $11.7 Billion By 2028

Published On: November 9, 2022

The global radiation oncology market size is projected to reach USD 11.7 billion by 2028, registering a CAGR of 7.0% over the forecast period. The growing occurrence of cancer and the technological advancements to meet the needs of the treatments, especially in radiation therapy equipment is a major driving factor for the market growth.

Advancements in radiation oncology treatments include real-time imaging and motion tracking which helps improve radiation targeting, reducing and limiting the exposure to the remaining healthy tissues in the surroundings. 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. 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.

The radiation oncology market is widely driven by several significant factors such as expansion in the usage of radiotherapy for the treatment of cancer. The market players are majorly focusing on strategies like partnerships, acquisitions, and advanced product launches. 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 affect the market growth globally.

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Radiation Oncology Market Report Highlights

• 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

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.