Global Radiation Oncology Market Research Report Information by Type, By Application, By End-User And by Region -Forecast Till 2032

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Global Radiation Oncology Market Research Report Information by Type (External Beam Radiation Therapy and Internal Radiation Therapy), By Application (Prostate Cancer, Breast Cancer, Lung Cancer, Head & Neck, and Others), By End-User (Hospitals & Clinics, Oncology Centers and Academic & Research Institutes) And by Region (North America, Europe, Asia-Pacific, and Rest of The World) -Forecast Till 2032

Market Overview

In 2023, the Radiation Oncology Market was valued at USD 8.23 billion. The market is expected to expand from USD 8.90 billion in 2024 to USD 16.51 billion by 2032, with a compound annual growth rate (CAGR) of 8.0% over the forecast period (2024-2032). The rising prevalence of cancer worldwide, as well as the growing acceptance of combination therapies that include radiation oncology in addition to surgery and chemotherapy, are driving market expansion.

The increased global prevalence of cancer, driven by aging populations, lifestyle changes, and environmental factors, is the primary driver of the radiation oncology industry. Technological advances in radiation therapy, including as intensity-modulated radiation therapy (IMRT), stereotactic radiosurgery (SRS), and proton therapy, have significantly improved treatment accuracy and patient outcomes, driving market growth. Furthermore, the growing use of combination therapies that include radiation oncology in addition to chemotherapy and surgery helps to expand the market by giving patients with more comprehensive and productive treatment options.

The rising incidence of cancer has emerged as a major impetus for the rapid growth of radiation oncology. The radiation oncology market is expanding as a result of rising global demand for effective treatment alternatives in response to cancer's increasing prevalence.

Market Segment insights

The Radiation Oncology Market is divided into two product types: external beam radiation therapy and internal beam radiation therapy.

The Radiation Oncology Market has been segmented by price range into Prostate Cancer, Breast Cancer, Lung Cancer, Head and Neck Cancer, and Others.

The market has been divided into three segments based on the end user: hospitals and clinics, oncology centers, and academic and research institutions.

Regional insights

The Radiation Oncology Market has been classified by region: North America, Europe, Asia-Pacific, and the Rest of the World. North America held the highest market share in 2023 and is expected to reach roughly USD 7.24 billion by 2032, growing at an 8.2% CAGR over the forecast period. However, Asia-Pacific is expected to develop at the fastest CAGR of 8.4% over the projection period.

The radiation oncology market in North America is rapidly expanding, driven by a number of unique regional variables. The increased incidence of cancer in North America is a key determinant. As cancer incidence rises due to lifestyle changes and an aging population, so does the demand for radiation oncology services.

The radiation oncology market in Europe is poised for significant growth, driven by a number of regionally specific reasons. The increased cancer incidence across Europe is a key determinant. The increasing prevalence of cancer has created a greater demand for sophisticated therapeutic techniques, such as radiation therapy.

The radiation oncology market in the Asia Pacific area is expected to grow significantly, driven by a variety of region-specific reasons. The increasing prevalence of cancer in the Asia-Pacific area is a significant factor.

Major Players

Varian Medical Systems, Inc. (US), Elekta (Sweden), Accuracy Incorporated (US), IBA Radiopharma Solutions (Belgium), BD (US), Mevion Medical Systems (US), Nordion (Canada), NTP Radioisotopes Soc Ltd. (South Africa), Curium (France), and Reflexion (US) are among the key players in the Radiation Oncology Market.

Product Code: MRFR/Pharma/10828-CR

1 EXECUTIVE SUMMARY

2 MARKET INTRODUCTION

2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 OVERVIEW
3.2 DATA FLOW
- 3.2.1 DATA MINING PROCESS
3.3 PURCHASED DATABASE:
3.4 SECONDARY SOURCES:
- 3.4.1 SECONDARY RESEARCH DATA FLOW:
3.5 PRIMARY RESEARCH:
- 3.5.1 PRIMARY RESEARCH DATA FLOW:
- 3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED
- 3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE
3.6 APPROACHES FOR MARKET SIZE ESTIMATION:
- 3.6.1 CONSUMPTION & NET TRADE APPROACH
- 3.6.2 REVENUE ANALYSIS APPROACH
3.7 DATA FORECASTING
- 3.7.1 DATA FORECASTING TECHNIQUE
3.8 DATA MODELING
- 3.8.1 MICROECONOMIC FACTOR ANALYSIS:
- 3.8.2 DATA MODELING:
3.9 TEAMS AND ANALYST CONTRIBUTION

4 MARKET DYNAMICS

4.1 INTRODUCTION
4.2 DRIVERS
- 4.2.1 GROWING INCIDENCE OF CANCER
- 4.2.2 TECHNOLOGICAL ADVANCEMENTS IN RADIATION THERAPY
- 4.2.3 RISING ADOPTION OF COMBINATION THERAPIES INVOLVING RADIATION ONCOLOGY ALONGSIDE SURGERY AND CHEMOTHERAPY
4.3 CHALLENGES
- 4.3.1 REGULATORY APPROVAL CHALLANGES
- 4.3.2 REIMBURSEMENT CONCERNS
- 4.3.3 LACK OF SKILLED RADIOTHERAPY PROFESSIONALS
4.4 OPPORTUNITY
- 4.4.1 GROWING EMPHASIS ON VALUE-BASED HEALTHCARE AND TREATMENT SOLUTIONS
- 4.4.2 RISING UTILIZATION OF ARTIFICIAL INTELLIGENCE (AI) AND MACHINE LEARNING WITHIN THE FIELD OF RADIATION ONCOLOGY

5 MARKET FACTOR ANALYSIS

5.1 VALUE CHAIN ANALYSIS
- 5.1.1 PARTICIPANTS (AT DIFFERENT NODES)
  - 5.1.1.1 RAW MATERIAL SUPPLIERS
  - 5.1.1.2 MANUFACTURERS
  - 5.1.1.3 DISTRIBUTION CHANNEL
  - 5.1.1.4 END-USER
- 5.1.2 INTEGRATION LEVELS
- 5.1.3 KEY ISSUES ADDRESSED (KEY SUCCESS FACTORS)
5.2 PORTER'S FIVE FORCES MODEL
- 5.2.1 BARGAINING POWER OF SUPPLIERS
- 5.2.2 BARGAINING POWER OF BUYERS
- 5.2.3 THREAT OF NEW ENTRANTS
- 5.2.4 THREAT OF SUBSTITUTES
- 5.2.5 INTENSITY OF RIVALRY
5.3 IMPACT ANALYSIS OF COVID-19
- 5.3.1 IMPACT ON OVERALL HEALTHCARE MARKET
  - 5.3.1.1 ECONOMIC IMPACT
- 5.3.2 IMPACT ON GLOBAL RADIATION ONCOLOGY MARKET
- 5.3.3 IMPACT ON MARKET DEMAND
  - 5.3.3.1 IMPACT DUE TO RESTRICTIONS/LOCKDOWN
  - 5.3.3.2 CONSUMER SENTIMENTS
- 5.3.4 IMPACT ON PRICING

6 GLOBAL RADIATION ONCOLOGY MARKET, BY TYPE

6.1 INTRODUCTION
6.2 EXTERNAL BEAM RADIATION THERAPY
- 6.2.1 LINEAR ACCELERATORS (LINAC)
  - 6.2.1.1 GAMMA KNIFE
  - 6.2.1.2 CYBERKNIFE
- 6.2.2 COBALT-60 SYSTEM
- 6.2.3 PARTICLE THERAPY SYSTEM
- 6.2.4 PROTON BEAM THERAPY SYSTEM
6.3 INTERNAL RADIATION THERAPY
- 6.3.1 SEEDS
- 6.3.2 AFTERLOADERS
- 6.3.3 INTRAOPERATIVE RADIOTHERAPY SYSTEMS

7 GLOBAL RADIATION ONCOLOGY MARKET, BY APPLICATION

7.1 INTRODUCTION
7.2 PROSTATE CANCER
7.3 BREAST CANCER
7.4 LUNG CANCER
7.5 HEAD & NECK
7.6 OTHERS

8 GLOBAL RADIATION ONCOLOGY MARKET, BY END USER

8.1 INTRODUCTION
8.2 HOSPITALS & CLINICS
8.3 ONCOLOGY CENTERS
8.4 ACADEMIC & RESEARCH INSTITUTES

9 GLOBAL RADIATION ONCOLOGY MARKET, BY REGION

9.1 OVERVIEW
9.2 NORTH AMERICA
- 9.2.1 US
- 9.2.2 CANADA
9.3 EUROPE
- 9.3.1 GERMANY
- 9.3.2 FRANCE
- 9.3.3 UK
- 9.3.4 ITALY
- 9.3.5 SPAIN
- 9.3.6 REST OF EUROPE
9.4 ASIA PACIFIC
- 9.4.1 CHINA
- 9.4.2 JAPAN
- 9.4.3 INDIA
- 9.4.4 SOUTH KOREA
- 9.4.5 AUSTRALIA
- 9.4.6 REST OF ASIA PACIFIC
9.5 REST OF THE WORLD
- 9.5.1 MIDDLE EAST
- 9.5.2 AFRICA
- 9.5.3 LATIN AMERICA

10 COMPETITIVE LANDSCAPE

10.1 INTRODUCTION
10.2 COMPETITION DASHBOARD
- 10.2.1 PRODUCT PORTFOLIO
- 10.2.2 REGIONAL PRESENCE
- 10.2.3 STRATEGIC ALLIANCES
- 10.2.4 INDUSTRY EXPERIENCES
10.3 MARKET SHARE ANALYSIS, 2022
10.4 THE LEADING PLAYER IN TERMS OF NUMBER OF DEVELOPMENTS IN THE GLOBAL RADIATION ONCOLOGY MARKET
10.5 LIST OF KEY PLAYERS, BY COUNTRY
10.6 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL
10.7 KEY DEVELOPMENTS & GROWTH STRATEGIES
- 10.7.1 PRODUCT LAUNCH
- 10.7.2 PARTNERSHIP & COLLABORATION
- 10.7.3 EXPANSION & ACQUISITION
- 10.7.4 INVESTMENT

11 COMPANY PROFILES

11.1 VARIAN MEDICAL SYSTEMS, INC.
- 11.1.1 COMPANY OVERVIEW
- 11.1.2 FINANCIAL OVERVIEW
- 11.1.3 PRODUCTS OFFERED
- 11.1.4 KEY DEVELOPMENTS
- 11.1.5 SWOT ANALYSIS
- 11.1.6 KEY STRATEGY
11.2 ELEKTA
- 11.2.1 COMPANY OVERVIEW
- 11.2.2 FINANCIAL OVERVIEW
- 11.2.3 PRODUCTS OFFERED
- 11.2.4 KEY DEVELOPMENTS
- 11.2.5 SWOT ANALYSIS
- 11.2.6 KEY STRATEGY
11.3 ACCURACY INCORPORATED
- 11.3.1 COMPANY OVERVIEW
- 11.3.2 FINANCIAL OVERVIEW
- 11.3.3 PRODUCTS OFFERED
- 11.3.4 KEY DEVELOPMENTS
- 11.3.5 SWOT ANALYSIS
- 11.3.6 KEY STRATEGY
11.4 IBA RADIOPHARMA SOLUTIONS
- 11.4.1 COMPANY OVERVIEW
- 11.4.2 FINANCIAL OVERVIEW
- 11.4.3 PRODUCTS OFFERED
- 11.4.4 KEY DEVELOPMENTS
- 11.4.5 SWOT ANALYSIS
- 11.4.6 KEY STRATEGY
11.5 BD
- 11.5.1 COMPANY OVERVIEW
- 11.5.2 FINANCIAL OVERVIEW
- 11.5.3 PRODUCTS OFFERED
- 11.5.4 SWOT ANALYSIS
- 11.5.5 KEY STRATEGY
11.6 MEVION MEDICAL SYSTEMS
- 11.6.1 COMPANY OVERVIEW
- 11.6.2 PRODUCTS OFFERED
- 11.6.3 KEY DEVELOPMENTS
- 11.6.4 SWOT ANALYSIS
- 11.6.5 KEY STRATEGY
11.7 NORDION
- 11.7.1 COMPANY OVERVIEW
- 11.7.2 FINANCIAL OVERVIEW
- 11.7.3 PRODUCTS OFFERED
- 11.7.4 KEY DEVELOPMENTS
- 11.7.5 SWOT ANALYSIS
- 11.7.6 KEY STRATEGY
11.8 NTP RADIOISOTOPES SOC LTD
- 11.8.1 COMPANY OVERVIEW
- 11.8.2 PRODUCTS OFFERED
- 11.8.3 KEY DEVELOPMENTS
- 11.8.4 SWOT ANALYSIS
- 11.8.5 KEY STRATEGY
11.9 CURIUM
- 11.9.1 COMPANY OVERVIEW
- 11.9.2 PRODUCTS OFFERED
- 11.9.3 KEY DEVELOPMENTS
- 11.9.4 SWOT ANALYSIS
- 11.9.5 KEY STRATEGY
11.10 REFLEXION
- 11.10.1 COMPANY OVERVIEW
- 11.10.2 PRODUCTS OFFERED
- 11.10.3 KEY DEVELOPMENTS
- 11.10.4 SWOT ANALYSIS
- 11.10.5 KEY STRATEGY