Radiation Oncology Market Outlook
According to the report by Expert Market Research (EMR), the global radiation oncology market Size is projected to grow at a CAGR of 7.1% between 2023 and 2028. Aided by the rising prevalence of cancer and the expanding applications of radiation therapy in oncology, the market is expected to grow significantly by 2028.
Radiation oncology, also known as radiation therapy, is a field of medical science that uses ionising radiation to treat cancer. It plays a crucial role in the management of malignant diseases, both as a standalone treatment and in combination with other therapeutic methods such as surgery and chemotherapy. In addition to its therapeutic applications, radiation therapy is used for palliative purposes, relieving symptoms, and improving the quality of life for patients with advanced or terminal cancers.
The escalating prevalence of cancer globally is driving the global radiation oncology market growth. The rising awareness of the benefits associated with radiation therapy, such as targeted treatment and limited side effects compared to traditional cancer treatments, has led to an increase in the adoption of this treatment modality, propelling market growth.
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Furthermore, the expanding applications of radiation therapy in the treatment of various types of cancers are contributing to the radiation oncology market expansion. For instance, radiation oncology is used extensively in the treatment of prostate, breast, lung, and colorectal cancer, among others. Radiation oncology has been more effective and precise due to technological advancements including intensity-modulated radiation therapy (IMRT), proton therapy, and stereotactic procedures, which have also expanded its acceptance and use.
Additionally, improvements in diagnostic imaging methods, such PET and CT scans, have made it possible to better diagnose and stage tumours, increasing the efficiency of radiation therapy. The integration of these imaging modalities with radiation therapy systems, known as image-guided radiation therapy (IGRT), has further propelled the radiation oncology market.
Additionally, the growing demand for non-invasive treatments in cancer care has stimulated the focus on radiation therapy. With the rise in the number of cancer cases and the increasing need for effective and targeted cancer treatment options, radiation oncology has emerged as a crucial tool in cancer management, thereby driving the radiation oncology market expansion.
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Radiation Oncology Market Segmentation
The market can be divided based on type, technology, application, and region.
Market Breakup by Type
- External Beam Radiation Therapy
- Cyberknife
- Gamma Knife
- Tomotherapy
- Proton Therapy
- Cyclotron
- Synchrotron
- Internal Beam Radiation Therapy
- Brachytherapy
- Seeds
- Applicators and After loaders
- Electronic Brachytherapy
- Systemic Beam Radiation Therapy
- Others
Market Breakup by Technology
- External Beam Radiation Therapy
- Image-Guided Radiotherapy (IGRT)
- Intensity Modulated Radiotherapy (IMRT)
- Stereotactic Technology
- Proton Beam Therapy
- 3D Conformal Radiotherapy (3D CRT)
- Volumetric Modulated Arc Therapy (VMAT)
- Brachytherapy
- Low-Dose Rate Brachytherapy
- High-Dose Rate Brachytherapy
Market Breakup by Application
- 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
- Cervical Cancer
- Breast Cancer
- Penile Cancer
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global radiation oncology companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Accuray Incorporated
- Elekta AB
- Isoray Medical
- Mevion Medical Systems
- BD
- ICAD,Inc.
- Isoray, Inc
- Optivus Proton Therapy, Inc.
- P-Cure
- Sensus Healthcare
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