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Global Radiation Oncology Market Share, Size, Value, Outlook, Report: By Type: External Beam Radiation Therapy, Proton Therapy, Internal Beam Radiation Therapy; By Technology: External Beam Radiation Therapy, Brachytherapy; By Applications: External Beam Radiation Therapy, Others; Regional Analysis; Supplier Landscape; 2024-2032
Global Radiation Oncology Market Outlook
The global radiation oncology market value was USD 7.7 billion in 2023, driven by the increasing prevalence of cancer across the globe. The market size is anticipated to grow at a CAGR of 7.1% during the forecast period of 2024-2032 to achieve a value of USD 14.3 billion by 2032.
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Rising Cases of Cancer Patients Across the Globe Boosting the Radiation Oncology Industry
The radiation oncology industry is being driven by the rising number of cancer patients throughout the world. Cancer, a chronic disease caused by abnormal cell division, is the result of an increasing number of physical, chemical, and biological carcinogens, such as arsenic, parasites, and UV rays, among others. Moreover, it is the leading cause of death worldwide, accounting for nearly 10 million deaths in 2020 solely. As radiation oncology kills or reduced the cancer cells while protecting other organs and tissues of the body, it is increasingly used to cure or reduce cancer, which is propelling the growth of the radiation oncology industry. Moreover, the reduced risk of exposure to external beam radiation therapy is aiding the market growth.
North America Holds a Significant Share of the Market for Radiation Oncology
North America holds the largest share in the market for radiation oncology owing to the high prevalence of cancer and the technological advancements leading to the development of new therapies. The region has the highest disposable income. Hence the healthcare facilities are both accessible and affordable for the population in the region. The increasing quality assurance, the prevalence of non-surgical treatment, and the wide use of radiotherapy in cancer treatment are driving the market growth. The Asia Pacific region, especially countries such as Japan, India, and China, is also expected to witness robust growth due to the increasing healthcare infrastructure, rising use of technology, and surging prevalence of cancer. Europe constitutes one-quarter of the total cancer population in the world due to the surging geriatric population and the high prevalence of carcinogens; these factors augment the overall growth of the radiation oncology industry.
Radiation Oncology: Market Segmentation
Radiation oncology, variously known as radiation therapy or radiotherapy, is the use of high-energy radiation in the treatment of cancer patients. It uses X-rays to destroy the cancer cells, and the rays may be delivered using linear accelerators. It is also used to relieve the pain or alleviate other symptoms.
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Based on oncology type, the market is segmented into:
- External Beam Radiation Therapy
- Linear Accelerators
- Compact Advanced Radiotherapy Systems
- Proton Therapy
- Others
- Internal Beam Radiotherapy
- Brachytherapy
- Systemic Beam Radiation Therapy
- Others
The major oncology technology types of radiation oncology are:
- External Beam Radiation Therapy
- Image-Guided Radiotherapy (IGRT)
- Intensity Modulated Radiotherapy (IMRT)
- Stereotactic Technology
- Proton Beam Therapy
- 3D Conformal Radiotherapy (3D CRT)
- Others
- Internal Beam Radiotherapy
- Low-Dose Rate Brachytherapy
- High-Dose Rate Brachytherapy
- Others
The market can be broadly categorised on the basis of its application into:
- External Beam Radiation Therapy
- Prostate Cancer
- Breast Cancer
- Lung Cancer
- Head and Neck Cancer
- Colorectal Cancer
- Others
- Internal Beam Radiation Therapy
- Prostate Cancer
- Gynaecological Cancer
- Breast Cancer
- Cervical Cancer
- Penile Cancer
- Others
The EMR report looks into the regional markets of radiation oncology like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Technological Advancements to Bolster the Growth of the Radiation Oncology Industry
Radiation oncology is one of the most cost-effective and efficient treatments of cancer. Moreover, it can prevent cancer from returning and slow down its growth, consequently contributing to the market growth. Increasing research and development (R&D) to create more effective treatments of cancer is also boosting the market growth. Improvement in technology and treatment techniques are increasing curation rates and reducing side effects. Moreover, technological advancements like respiratory gating, trilogy radiosurgery, prostate seed implant, and RapidArc technology are catalysing the market growth.
The development of image-guided radiotherapy (IGRT) and intensity-modulated radiotherapy (IMRT) that can increase the efficiency and improve the accuracy of the treatment are expected to fuel the industry growth. Moreover, the use of radiotherapy in all kinds of cancer like breast cancer, lung, and prostate cancer, is aiding the growth of the market. The upgradation of health infrastructure and the rising per-capita income in developing countries is also propelling the market growth for radiation oncology. Though the growth of the industry is hindered by the low number of skilled radiotherapists, the rising prospects of a career in radiotherapy and the considerable number of professional therapists are anticipated to lubricate the market growth.
Key Industry Players in the Global Radiation Oncology Market
The report presents a detailed analysis of the following key players in the global radiation oncology market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Accuray Incorporated
- Elekta AB
- Isoray Medical
- Mevion Medical Systems
- Varian Medical Systems, Inc.
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Technology |
|
| Breakup by Applications |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Supplier Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Cancer Overview
3.1 Guidelines and Stages
3.2 Pathophysiology
3.3 Screening and Diagnosis
3.4 Treatment Pathway
4 Patient Profile
4.1 Patient Profile Overview
4.2 Patient Psychology and Emotional Impact Factors
4.3 Risk Assessment and Treatment Success Rate
5 Cancer Epidemiology Analysis
5.1 Epidemiology Overview (2016-2031)
5.2 North America Cancer Epidemiology (2016-2031)
5.3 Europe Cancer Epidemiology (2016-2031)
5.4 Asia-Pacific Cancer Epidemiology (2016-2031)
5.5 Latin America Cancer Epidemiology (2016-2031)
5.6 Middle East & Africa Cancer Epidemiology (2016-2031)
6 Global Radiation Oncology Market Overview
6.1 Global Radiation Oncology Market Historical Value (2017-2023)
6.2 Global Radiation Oncology Market Forecast Value (2024-2032)
7 Global Radiation Oncology Market Landscape
7.1 Global Radiation Oncology Developers Landscape
7.1.1 Analysis by Year of Establishment
7.1.2 Analysis by Company Size
7.1.3 Analysis by Region
7.2 Global Radiation Oncology Product Landscape
7.2.1 Analysis by Type
7.2.2 Analysis by Indications
7.2.3 Analysis by End Users
8 Radiation Oncology Challenges and Unmet Needs
8.1 Treatment Pathway Challenges
8.2 Compliance and Drop-Out Analysis
8.3 Awareness and Prevention Gaps
9 Cost of Treatment
10 Global Radiation Oncology Market Dynamics
10.1 Market Drivers and Constraints
10.2 SWOT Analysis
10.3 Porter’s Five Forces Model
10.4 Key Demand Indicators
10.5 Key Price Indicators
10.6 Industry Events, Initiatives, and Trends
10.7 Value Chain Analysis
11 Global Radiation Oncology Market Segmentation
11.1 Global Radiation Oncology Market by Type
11.1.1 Market Overview
11.1.2 External Beam Radiation Therapy
11.1.2.1 Linear Accelerators (Linac)
11.1.2.2 Compact advanced radiotherapy systems
11.1.2.2.1 Cyberknife
11.1.2.2.2 Gamma Knife
11.1.2.2.3 Tomotherapy
11.1.3 Proton Therapy
11.1.3.1 Cyclotron
11.1.3.2 Synchrotron
11.1.4 Internal Beam Radiation Therapy
11.1.4.1 Brachytherapy
11.1.4.1.1 Seeds
11.1.4.1.2 Applicators and After loaders
11.1.4.1.3 Electronic Brachytherapy
11.1.4.2 Systemic Beam Radiation Therapy
11.1.4.3 Others
11.2 Global Radiation Oncology Market by Technology
11.2.1 Market Overview
11.2.2 External Beam Radiation Therapy
11.2.2.1 Image-Guided Radiotherapy (IGRT)
11.2.2.2 Intensity Modulated Radiotherapy (IMRT)
11.2.2.3 Stereotactic Technology
11.2.2.4 Proton Beam Therapy
11.2.2.5 3D Conformal Radiotherapy (3D CRT)
11.2.2.6 Volumetric Modulated Arc Therapy (VMAT)
11.2.3 Brachytherapy
11.2.3.1 Low-Dose Rate Brachytherapy
11.2.3.2 High-Dose Rate Brachytherapy
11.3 Global Radiation Oncology Market by Applications
11.3.1 Market Overview
11.3.2 External Beam Radiation Therapy
11.3.2.1 Prostate Cancer
11.3.2.2 Breast Cancer
11.3.2.3 Lung Cancer
11.3.2.4 Head and Neck Cancer
11.3.2.5 Colorectal Cancer
11.3.2.6 Others
11.3.3 Internal Beam Radiation Therapy
11.3.3.1 Prostate Cancer
11.3.3.2 Gynecological Cancer
11.3.3.3 Cervical Cancer
11.3.3.4 Breast Cancer
11.3.3.5 Penile Cancer
11.3.3.6 Others
11.4 Global Radiation Oncology Market by Region
11.4.1 Market Overview
11.4.2 North America
11.4.3 Europe
11.4.4 Asia Pacific
11.4.5 Latin America
11.4.6 Middle East and Africa
12 North America Radiation Oncology Market
12.1 Market Share by Country
12.2 United States of America
12.3 Canada
13 Europe Radiation Oncology Market
13.1 Market Share by Country
13.2 United Kingdom
13.3 Germany
13.4 France
13.5 Italy
13.6 Others
14 Asia Pacific Radiation Oncology Market
14.1 Market Share by Country
14.2 China
14.3 Japan
14.4 India
14.5 ASEAN
14.6 Australia
14.7 Others
15 Latin America Radiation Oncology Market
15.1 Market Share by Country
15.2 Brazil
15.3 Argentina
15.4 Mexico
15.5 Others
16 Middle East and Africa Radiation Oncology Market
16.1 Market Share by Country
16.2 Saudi Arabia
16.3 United Arab Emirates
16.4 Nigeria
16.5 South Africa
16.6 Others
17 Patent Analysis
17.1 Analysis by Type of Patent
17.2 Analysis by Publication year
17.3 Analysis by Issuing Authority
17.4 Analysis by Patent Age
17.5 Analysis by CPC Analysis
17.6 Analysis by Patent Valuation
17.7 Analysis by Key Players
18 Grants Analysis
18.1 Analysis by year
18.2 Analysis by Amount Awarded
18.3 Analysis by Issuing Authority
18.4 Analysis by Grant Application
18.5 Analysis by Funding Institute
18.6 Analysis by NIH Departments
18.7 Analysis by Recipient Organization
19 Clinical Trials Analysis
19.1 Analysis by Trial Registration Year
19.2 Analysis by Trial Status
19.3 Analysis by Trial Phase
19.4 Analysis by Therapeutic Area
19.5 Analysis by Geography
20 Funding Analysis
20.1 Analysis by Funding Instances
20.2 Analysis by Type of Funding
20.3 Analysis by Funding Amount
20.4 Analysis by Leading Players
20.5 Analysis by Leading Investors
20.6 Analysis by Geography
21 Partnership and Collaborations Analysis
21.1 Analysis by Partnership Instances
21.2 Analysis by Type of Partnership
21.3 Analysis by Leading Players
21.4 Analysis by Geography
22 Regulatory Framework
22.1 Regulatory Overview
22.1.1 US FDA
22.1.2 EU EMA
22.1.3 INDIA CDSCO
22.1.4 JAPAN PMDA
22.1.5 Others
23 Supplier Landscape
23.1 Accuray Incorporated
23.1.1 Financial Analysis
23.1.2 Product Portfolio
23.1.3 Demographic Reach and Achievements
23.1.4 Mergers and Acquisitions
23.1.5 Certifications
23.2 Elekta AB
23.2.1 Financial Analysis
23.2.2 Product Portfolio
23.2.3 Demographic Reach and Achievements
23.2.4 Mergers and Acquisitions
23.2.5 Certifications
23.3 Isoray Medical
23.3.1 Financial Analysis
23.3.2 Product Portfolio
23.3.3 Demographic Reach and Achievements
23.3.4 Mergers and Acquisitions
23.3.5 Certifications
23.4 Mevion Medical Systems
23.4.1 Financial Analysis
23.4.2 Product Portfolio
23.4.3 Demographic Reach and Achievements
23.4.4 Mergers and Acquisitions
23.4.5 Certifications
23.5 BD
23.5.1 Financial Analysis
23.5.2 Product Portfolio
23.5.3 Demographic Reach and Achievements
23.5.4 Mergers and Acquisitions
23.5.5 Certifications
23.6 ICAD,Inc.
23.6.1 Financial Analysis
23.6.2 Product Portfolio
23.6.3 Demographic Reach and Achievements
23.6.4 Mergers and Acquisitions
23.6.5 Certifications
23.7 Isoray, Inc
23.7.1 Financial Analysis
23.7.2 Product Portfolio
23.7.3 Demographic Reach and Achievements
23.7.4 Mergers and Acquisitions
23.7.5 Certifications
23.8 Optivus Proton Therapy, Inc.
23.8.1 Financial Analysis
23.8.2 Product Portfolio
23.8.3 Demographic Reach and Achievements
23.8.4 Mergers and Acquisitions
23.8.5 Certifications
23.9 P-Cure
23.9.1 Financial Analysis
23.9.2 Product Portfolio
23.9.3 Demographic Reach and Achievements
23.9.4 Mergers and Acquisitions
23.9.5 Certifications
23.10 Sensus Healthcare
23.10.1 Financial Analysis
23.10.2 Product Portfolio
23.10.3 Demographic Reach and Achievements
23.10.4 Mergers and Acquisitions
23.10.5 Certifications
24 Global Radiation Oncology Market - Distribution Model (Additional Insight)
24.1 Overview
24.2 Potential Distributors
24.3 Key Parameters for Distribution Partner Assessment
25 Key Opinion Leaders (KOL) Insights (Additional Insight)
26 Company Competitiveness Analysis (Additional Insight)
26.1 Very Small Companies
26.2 Small Companies
26.3 Mid-Sized Companies
26.4 Large Companies
26.5 Very Large Companies
27 Payment Methods (Additional Insight)
27.1 Government Funded
27.2 Private Insurance
27.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The radiation oncology market was valued at USD 7.7 billion in 2023.
The market is expected to grow at a CAGR of 7.1 % from 2024 to 2032 to reach a value of USD 14.3 billion by 2032.
The market is being driven by the growing patients of cancer across the world, rising geriatric population, and increasing disposable incomes.
The industry is aided by technological advancements and the increasing healthcare infrastructure in developing countries.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with North America accounting for the largest share in the market.
The dominant oncology type of radiation oncology in the industry are external beam radiation therapy and internal beam radiation therapy.
The leading oncology technology types in the market are external beam radiation therapy and internal beam radiotherapy.
The significant applications of radiation oncology are external beam radiation therapy and internal beam radiation therapy.
The major players in the industry are Accuray Incorporated, Elekta AB, Isoray Medical, Mevion Medical Systems, and Varian Medical Systems, Inc., among others.
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