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Radiation Oncology Market

Global Radiation Oncology Market Share, Size, Growth, 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 8.25 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 15.29 billion by 2032.

 

Radiation Oncology Market

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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.

 

Radiation Oncology Market By Segments

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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.

 

Radiation Oncology Market By Region

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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.

 

Key Highlights of the Report

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:

  • Type
  • Technology
  • Applications
  • Region
Breakup by Type
  • External Beam Radiation Therapy
  • Proton Therapy
  • Internal Beam Radiation Therapy
Breakup by Technology
  • External Beam Radiation Therapy
  • Brachytherapy
Breakup by Applications
  • External Beam Radiation Therapy
  • Internal Beam Radiation Therapy
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Supplier Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • Accuray Incorporated
  • Elekta AB
  • Isoray Medical
  • Mevion Medical Systems
  • BD
  • ICAD,Inc.
  • Isoray, Inc
  • Optivus Proton Therapy, Inc.
  • P-Cure
  • Sensus Healthcare
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.

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

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 8.25 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 15.29 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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