Category : Healthcare and Pharmaceuticals | Published at : May-2021 | Delivery Format : PDF | Status: Published | Pages : 190
The market for radiation oncology is expected to grow at a CAGR of around 7.1% from 2020 to 2027 and expected to reach the market value of around US$ 11.0 Bn by 2027.
Radiation oncology is a medical specialty and an essential part of a multidisciplinary approach to cancer treatment. This technology uses radiation (X-rays, gamma rays, or electrons) to treat cancer.
Market Dynamics
The rising adoption of radiotherapy along with the increasing cases of cancer diseases across the globe is driving the market growth. According to Cancer Australia, in 2020, Australia has been diagnosed with 145,483 registered cancer cases, which is approximately 480 cases per 100,000 persons. New Zealand has registered 24,453 cancer cases in the year 2017 which is approximately 331 cases per 100,000 persons. The technological advancements in radiotherapy owing to the increasing investments and rising prevalence of cancer as well as increasing healthcare expenditure across the globe are supporting the demand for radiation oncology practices. Additionally, the increasing application of radiopharmaceuticals across cancer treatment is further bolstering the regional market value.
On the other side, lack of skilled radiotherapy professionals, inadequate radiation infrastructure, and adverse effects of radiotherapy are some of the factors restricting the market growth.
Segment Instance of Global Radiation Oncology Market
External Beam Radiation Therapy dominated the Global Radiation Oncology Market by application in 2019
By application, the external beam radiation therapy (EBRT) segment leading the market with maximum revenue share owing to its usage across varied major types of cancer. Some of the major applicability is into prostate cancer, breast cancer, lung cancer, head & neck cancer, and colorectal cancer among others.
North America dominated the global radiation oncology market
In 2019, North America dominated the market with maximum revenue share, and the region is also projected to maintain its dominance throughout the forecast period from 2020 to 2027. The increasing number of cancer cases along with the changing lifestyle and unhealthy eating habits are supporting the market growth. The advanced healthcare infrastructure along with the high paying population is contributing to the regional market value.
Asia Pacific is projected to exhibit fastest growth over the forecast period from 2020 to 2027
Asia Pacific along with its major developing economies projected to exhibit the fastest growth during the forecast period from 2020 to 2027. The rapidly increasing number of healthcare facilities along with the advanced infrastructure and professionals that can operate them is driving the regional market value. Another factor driving regional market value is increasing cases of cancer due to rapid urbanization and subsequently changing lifestyle.
Key Market Players
The players profiled in the report include Accuray Incorporated, C.R. BARD, INC. (BD), Curium Pharma, Elekta AB, Ion Beam, Applications (IBA), Isoray Medical, Mevion Medical Systems, Inc., Nordion Inc., NTP Radioisotopes SOC Ltd., Varian Medical Systems, Inc., Viewray Technologies, Inc., and others.
Market Segmentation
Market By Type
External Beam Radiation Therapy
- Linear Accelerators (LINAC)
- Compact Advanced Radiotherapy Systems
Proton Therapy
Cyclotron
Synchrotron
Internal Beam Radiation Therapy
- Brachytherapy
- Systemic Beam Radiation Therapy
Others
Market By Technology
External Beam Radiation Therapy
- Image-Guided Radiotherapy (IGRT)
- Intensity Modulated Radiotherapy (IMRT)
- Stereotactic Application
- Proton Beam Therapy
- 3D Conformal Radiotherapy (3D CRT)
- Volumetric Modulated Arc Therapy (VMAT)
Internal Beam Radiation Therapy
- Low-Dose Rate Brachytherapy
- High-Dose Rate Brachytherapy
Systemic Radiation Therapy
Market By Application
External Beam Radiation Therapy
- Prostate Cancer
- Breast Cancer
- Lung Cancer
- Head & Neck Cancer
- Colorectal Cancer
- Other
Internal Radiation Therapy
- Prostate Cancer
- Gynecological Cancer
- Breast Cancer
- Cervical Cancer
- Penile Cancer
- Other
Market By Geography
North America
• U.S.
• Canada
Europe
• U.K.
• Germany
• France
• Spain
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
Latin America
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa
Frequently Asked Questions
The market for radiation oncology is expected to reach a market value of around US$ 11.0 Bn by 2027.
The radiation oncology market is expected to grow at a CAGR of around 7.1% from 2020 to 2027.
External beam radiation therapy is the leading segment by application in the radiation oncology market
The rising adoption of radiotherapy, increasing cases of cancer diseases across the globe, technological advancements in radiotherapy, and increasing healthcare expenditure across the globe are some of the prominent factors driving the market growth.
Accuray Incorporated, C.R. BARD, INC. (BD), Curium Pharma, Elekta AB, Ion Beam, Applications (IBA), Isoray Medical, Mevion Medical Systems, Inc., Nordion Inc., NTP Radioisotopes SOC Ltd., Varian Medical Systems, Inc., Viewray Technologies, Inc., and others are some of the prominent players in the market.
North America held the highest market share in the radiation oncology market
Asia Pacific is expected to be the fastest growing market over the forecast period
