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Global Radiation Oncology Market: By Oncology Type: External Beam Radiation Therapy, Internal Beam Radiation Therapy, Others; By Oncology Technology Type; By Application; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Radiation Oncology Market Outlook
The global radiation oncology market attained a value of nearly USD 6.7 billion in 2020. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 7.1%.
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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 | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Oncology Type, Oncology Technology Type, Application, Region |
| Breakup by Oncology Type | External Beam Radiation Therapy, Internal Beam Radiation Therapy |
| Breakup by Oncology Technology Type | External Beam Radiation Therapy, Internal Beam Radiotherapy |
| Breakup by Application | External Beam Radiation Therapy, Internal Beam Radiation Therapy |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Accuray Incorporated, Elekta AB, Isoray Medical, Mevion Medical Systems, Varian Medical Systems, Inc., Others |
| 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
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Radiation Oncology Market Analysis
8.1 Key Industry Highlights
8.2 Global Radiation Oncology Historical Market (2018-2022)
8.3 Global Radiation Oncology Market Forecast (2023-2028)
8.4 Global Radiation Oncology Market by Oncology Type
8.4.1 External Beam Radiation Therapy
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.1.4 Breakup by Type
8.4.1.4.1 Linear Accelerators
8.4.1.4.1.1 Market Share
8.4.1.4.1.2 Historical Trend (2018-2022)
8.4.1.4.1.3 Forecast Trend (2023-2028)
8.4.1.4.2 Compact Advanced Radiotherapy Systems
8.4.1.4.2.1 Market Share
8.4.1.4.2.2 Historical Trend (2018-2022)
8.4.1.4.2.3 Forecast Trend (2023-2028)
8.4.1.4.3 Proton Therapy
8.4.1.4.3.1 Market Share
8.4.1.4.3.2 Historical Trend (2018-2022)
8.4.1.4.3.3 Forecast Trend (2023-2028)
8.4.1.4.4 Others
8.4.2 Internal Beam Radiation Therapy
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.2.4 Breakup by Type
8.4.2.4.1 Brachytherapy
8.4.2.4.1.1 Market Share
8.4.2.4.1.2 Historical Trend (2018-2022)
8.4.2.4.1.3 Forecast Trend (2023-2028)
8.4.2.4.2 Systemic Beam Radiation Therapy
8.4.2.4.2.1 Market Share
8.4.2.4.2.2 Historical Trend (2018-2022)
8.4.2.4.2.3 Forecast Trend (2023-2028)
8.4.2.4.3 Others
8.5 Global Radiation Oncology Market by Oncology Technology Type
8.5.1 External Beam Radiation Therapy
8.5.1.1 Image-Guided Radiotherapy (IGRT)
8.5.1.1.1 Market Share
8.5.1.1.2 Historical Trend (2018-2022)
8.5.1.1.3 Forecast Trend (2023-2028)
8.5.1.2 Intensity Modulated Radiotherapy (IMRT)
8.5.1.2.1 Market Share
8.5.1.2.2 Historical Trend (2018-2022)
8.5.1.2.3 Forecast Trend (2023-2028)
8.5.1.3 Stereotactic Technology
8.5.1.3.1 Market Share
8.5.1.3.2 Historical Trend (2018-2022)
8.5.1.3.3 Forecast Trend (2023-2028)
8.5.1.4 Proton Beam Therapy
8.5.1.4.1 Market Share
8.5.1.4.2 Historical Trend (2018-2022)
8.5.1.4.3 Forecast Trend (2023-2028)
8.5.1.5 3D Conformal Radiotherapy (3D CRT)
8.5.1.5.1 Market Share
8.5.1.5.2 Historical Trend (2018-2022)
8.5.1.5.3 Forecast Trend (2023-2028)
8.5.1.6 Others
8.5.2 Internal Beam Radiotherapy
8.5.2.1 Low-Dose Rate Brachytherapy
8.5.2.1.1 Market Share
8.5.2.1.2 Historical Trend (2018-2022)
8.5.2.1.3 Forecast Trend (2023-2028)
8.5.2.2 High-Dose Rate Brachytherapy
8.5.2.2.1 Market Share
8.5.2.2.2 Historical Trend (2018-2022)
8.5.2.2.3 Forecast Trend (2023-2028)
8.5.2.3 Others
8.6 Global Radiation Oncology Market by Application
8.6.1 External Beam Radiation Therapy
8.6.1.1 Prostate Cancer
8.6.1.1.1 Market Share
8.6.1.1.2 Historical Trend (2018-2022)
8.6.1.1.3 Forecast Trend (2023-2028)
8.6.1.2 Breast Cancer
8.6.1.2.1 Market Share
8.6.1.2.2 Historical Trend (2018-2022)
8.6.1.2.3 Forecast Trend (2023-2028)
8.6.1.3 Lung Cancer
8.6.1.3.1 Market Share
8.6.1.3.2 Historical Trend (2018-2022)
8.6.1.3.3 Forecast Trend (2023-2028)
8.6.1.4 Head and Neck Cancer
8.6.1.4.1 Market Share
8.6.1.4.2 Historical Trend (2018-2022)
8.6.1.4.3 Forecast Trend (2023-2028)
8.6.1.5 Colorectal Cancer
8.6.1.5.1 Market Share
8.6.1.5.2 Historical Trend (2018-2022)
8.6.1.5.3 Forecast Trend (2023-2028)
8.6.1.6 Others
8.6.2 Internal Beam Radiation Therapy
8.6.2.1 Prostate Cancer
8.6.2.1.1 Market Share
8.6.2.1.2 Historical Trend (2018-2022)
8.6.2.1.3 Forecast Trend (2023-2028)
8.6.2.2 Gynaecological Cancer
8.6.2.2.1 Market Share
8.6.2.2.2 Historical Trend (2018-2022)
8.6.2.2.3 Forecast Trend (2023-2028)
8.6.2.3 Breast Cancer
8.6.2.3.1 Market Share
8.6.2.3.2 Historical Trend (2018-2022)
8.6.2.3.3 Forecast Trend (2023-2028)
8.6.2.4 Cervical Cancer
8.6.2.4.1 Market Share
8.6.2.4.2 Historical Trend (2018-2022)
8.6.2.4.3 Forecast Trend (2023-2028)
8.6.2.5 Penile Cancer
8.6.2.5.1 Market Share
8.6.2.5.2 Historical Trend (2018-2022)
8.6.2.5.3 Forecast Trend (2023-2028)
8.6.2.6 Others
8.7 Global Radiation Oncology Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
9 North America Radiation Oncology Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Radiation Oncology Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Radiation Oncology Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Radiation Oncology Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Radiation Oncology Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Accuray Incorporated
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Elekta AB
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Isoray Medical
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Mevion Medical Systems
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Mevion Medical Systems
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Radiation Oncology Market: Key Industry Highlights, 2018 and 2028
2. Global Radiation Oncology Historical Market: Breakup by Oncology Type (USD Million), 2018-2022
3. Global Radiation Oncology Market Forecast: Breakup by Oncology Type (USD Million), 2023-2028
4. Global Radiation Oncology Historical Market: Breakup by Oncology Technology Type (USD Million), 2018-2022
5. Global Radiation Oncology Market Forecast: Breakup by Oncology Technology Type (USD Million), 2023-2028
6. Global Radiation Oncology Historical Market: Breakup by Application (USD Million), 2018-2022
7. Global Radiation Oncology Market Forecast: Breakup by Application (USD Million), 2023-2028
8. Global Radiation Oncology Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global Radiation Oncology Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America Radiation Oncology Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America Radiation Oncology Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe Radiation Oncology Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe Radiation Oncology Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific Radiation Oncology Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific Radiation Oncology Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America Radiation Oncology Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America Radiation Oncology Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa Radiation Oncology Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa Radiation Oncology Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Global Radiation Oncology Market Structure
Key Questions Answered in the Report
In 2020, the global radiation oncology market attained a value of nearly USD 6.7 billion.
The market is projected to grow at a CAGR of 7.1% between 2021 and 2026.
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.
Analyst Review
The global radiation oncology market attained a value of nearly USD 6.7 billion in 2020, driven by the rising prevalence of cancer across the globe. Aided by the growing technological advancements, the market is expected to grow at a CAGR of 7.1% in the forecast period of 2023-2028.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its oncology types, the radiation oncology industry can be segmented into external beam radiation therapy and internal beam radiation therapy. On the basis of oncology technology types, the industry is divided into external beam radiation therapy and internal beam radiotherapy. Based on the applications, the industry is categorised into external beam radiation therapy and internal beam radiation therapy. The major regional markets for radiation oncology are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above market include Accuray Incorporated, Elekta AB, Isoray Medical, Mevion Medical Systems, and Varian Medical Systems, Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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