Radiation Oncology Market by Product (Hardware, Services, Software), Technology (External Beam Radiation Therapy, Internal Beam Radiation Therapy), Application, End-User - Global Forecast 2024-2030


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Radiation Oncology Market by Product (Hardware, Services, Software), Technology (External Beam Radiation Therapy, Internal Beam Radiation Therapy), Application, End-User - Global Forecast 2024-2030


The Radiation Oncology Market size was estimated at USD 13.59 billion in 2023 and expected to reach USD 14.56 billion in 2024, at a CAGR 7.28% to reach USD 22.23 billion by 2030.

Global Radiation Oncology Market

Radiation oncology focuses on the use of ionizing radiation in the treatment of cancer. It involves the precise delivery of radiation to target and eliminate cancer cells or inhibit their development. Radiation therapy is a critical element of cancer treatment and can be used as a standalone therapy or in combination with chemotherapy and other therapeutic modalities. Radiation oncology continually evolves with technological advancements and treatment techniques, allowing for more precise and effective cancer care. Factors contributing to the growth of the radiation oncology market include the increasing global prevalence of cancer, advancements in radiation therapy technologies, and the rising demand for non-invasive treatment modalities. However, the high costs associated with radiation therapy and related instruments and a lack of skilled professionals pose a significant challenge to the market. Rising government enterprises and investments in R&D in the treatment of cancer treatments and advances in radiation oncology treatment to improve treatment safety create a lucrative opportunity for the radiation oncology market.

Regional Insights

The radiation oncology market is growing in the Americas due to high healthcare expenditure, advanced healthcare infrastructure, and a robust pipeline of technological innovations. The rising aging population, rising cancer prevalence, and a well-established reimbursement system facilitate access to radiation therapy in the region. The European Union exhibits a strong demand for radiation oncology services with a well-distributed network of facilities and a growing interest in oncology research and development. The Middle East and Africa’s radiation oncology market is influenced by growing investment in healthcare infrastructure, an increasing adoption of advanced technologies, and the establishment of new cancer treatment facilities procuring new-generation equipment. Governmental investments in healthcare infrastructure and a rising incidence of cancer emphasis on local equipment manufacturing demonstrate significant growth of the radiation oncology market in the APAC region.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Radiation Oncology Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Radiation Oncology Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Radiation Oncology Market, highlighting leading vendors and their innovative profiles. These include Accuray Incorporated, Becton, Dickinson and Company, Bionix LLC, BrainLab AG, Canon Inc., Carl Zeiss AG, Curium SAS, Eckert and Ziegler AG, Elekta AB, GE HealthCare Technologies Inc., Hitachi, LTD., Hologic, Inc., IntraOp Medical, Inc., Ion Beam Applications S.A., Isoray Inc., Koninklijke Philips N.V., Nordion Inc., Optivus Proton Therapy, Inc., P-Cure LTD., Panacea Medical Technologies Pvt. LTD., Provision Healthcare, LLC., Stryker Corporation, Sumitomo Heavy Industries, LTD, Theragenics Corporation, Varian Medical Systems by Siemens Healthineers, and ViewRay, Inc..

Market Segmentation & Coverage

This research report categorizes the Radiation Oncology Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
Hardware
Services
Software
Technology
External Beam Radiation Therapy
Compact advanced radiotherapy systems
Cyberknife
Gamma Knife
Tomotherapy
Linear Accelerators (Linac)
Proton Therapy
Cyclotron
Synchrotron
Internal Beam Radiation Therapy
Brachytherapy
Applicators & After loaders
Electronic Brachytherapy
Seeds
Systemic Beam Radiation Therapy
Application
Blood Cancer
Breast Cancer
Gastrointestinal Cancer
Prostate Cancer
Respiratory & Lung Cancer
Skin Cancer
End-User
Hospitals
Independent Radiotherapy Centers
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Radiation Oncology Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Radiation Oncology Market?
3. What are the technology trends and regulatory frameworks in the Radiation Oncology Market?
4. What is the market share of the leading vendors in the Radiation Oncology Market?
5. Which modes and strategic moves are suitable for entering the Radiation Oncology Market?

Note: PDF & Excel + Online Access - 1 Year


1. Preface
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders
2. Research Methodology
2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Radiation Oncology Market, by Region
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Prevalence of cancer and increasing adoption of radiation procedures
5.1.1.2. Rising preference for minimally invasive procedures
5.1.1.3. Government initiatives to spread awareness and accessibility to cancer treatment
5.1.2. Restraints
5.1.2.1. High costs associated with radiotherapy equipment
5.1.3. Opportunities
5.1.3.1. Technological advancements in radiation therapy equipment
5.1.3.2. Ongoing non-government investments in R&D of radiation oncology treatment
5.1.4. Challenges
5.1.4.1. Shortage of trained radiation oncology professionals coupled with stringed regulatory compliances and approvals
5.2. Market Segmentation Analysis
5.2.1. Product: Significant penetration of radiation oncology hardware
5.2.2. Technology: Utilization of external beam radiation therapy to minimize exposure to healthy tissues and improve patient outcomes
5.2.3. Application: Significant emphasis on radiation oncology for breast cancer treatment
5.2.4. End-User: Potential use of radiation oncology in hospital sectors to provide comprehensive cancer care
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter’s Five Forces Analysis
5.5.1. Threat of New Entrants
5.5.2. Threat of Substitutes
5.5.3. Bargaining Power of Customers
5.5.4. Bargaining Power of Suppliers
5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework
6. Radiation Oncology Market, by Product
6.1. Introduction
6.2. Hardware
6.3. Services
6.4. Software
7. Radiation Oncology Market, by Technology
7.1. Introduction
7.2. External Beam Radiation Therapy
7.3.1. Compact advanced radiotherapy systems
7.3.2.1. Cyberknife
7.3.2.2. Gamma Knife
7.3.2.3. Tomotherapy
7.3.2. Linear Accelerators (Linac)
7.3.3. Proton Therapy
7.3.4.1. Cyclotron
7.3.4.2. Synchrotron
7.3. Internal Beam Radiation Therapy
7.4.1. Brachytherapy
7.4.2.1. Applicators & After loaders
7.4.2.2. Electronic Brachytherapy
7.4.2.3. Seeds
7.4.2. Systemic Beam Radiation Therapy
8. Radiation Oncology Market, by Application
8.1. Introduction
8.2. Blood Cancer
8.3. Breast Cancer
8.4. Gastrointestinal Cancer
8.5. Prostate Cancer
8.6. Respiratory & Lung Cancer
8.7. Skin Cancer
9. Radiation Oncology Market, by End-User
9.1. Introduction
9.2. Hospitals
9.3. Independent Radiotherapy Centers
10. Americas Radiation Oncology Market
10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States
11. Asia-Pacific Radiation Oncology Market
11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam
12. Europe, Middle East & Africa Radiation Oncology Market
12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom
13. Competitive Landscape
13.1. FPNV Positioning Matrix
13.2. Market Share Analysis, By Key Player
13.3. Competitive Scenario Analysis, By Key Player
13.3.1. Merger & Acquisition
13.3.1.1. Siemens Healthineers Buys Aspekt to Bolster Radiation Oncology Services
13.3.2. New Product Launch & Enhancement
13.3.2.1. GE HealthCare Launches New Solutions for Radiation Therapy
13.3.3. Award, Recognition, & Expansion
13.3.3.1. Fred Hutch’s New Radiation Oncology Division Takes Shape
14. Competitive Portfolio
14.1. Key Company Profiles
14.1.1. Accuray Incorporated
14.1.2. Becton, Dickinson and Company
14.1.3. Bionix LLC
14.1.4. BrainLab AG
14.1.5. Canon Inc.
14.1.6. Carl Zeiss AG
14.1.7. Curium SAS
14.1.8. Eckert and Ziegler AG
14.1.9. Elekta AB
14.1.10. GE HealthCare Technologies Inc.
14.1.11. Hitachi, LTD.
14.1.12. Hologic, Inc.
14.1.13. IntraOp Medical, Inc.
14.1.14. Ion Beam Applications S.A.
14.1.15. Isoray Inc.
14.1.16. Koninklijke Philips N.V.
14.1.17. Nordion Inc.
14.1.18. Optivus Proton Therapy, Inc.
14.1.19. P-Cure LTD.
14.1.20. Panacea Medical Technologies Pvt. LTD.
14.1.21. Provision Healthcare, LLC.
14.1.22. Stryker Corporation
14.1.23. Sumitomo Heavy Industries, LTD
14.1.24. Theragenics Corporation
14.1.25. Varian Medical Systems by Siemens Healthineers
14.1.26. ViewRay, Inc.
14.2. Key Product Portfolio
15. Appendix
15.1. Discussion Guide
15.2. License & Pricing
FIGURE 1. RADIATION ONCOLOGY MARKET RESEARCH PROCESS
FIGURE 2. RADIATION ONCOLOGY MARKET SIZE, 2023 VS 2030
FIGURE 3. RADIATION ONCOLOGY MARKET SIZE, 2018-2030 (USD MILLION)
FIGURE 4. RADIATION ONCOLOGY MARKET SIZE, BY REGION, 2023 VS 2030 (%)
FIGURE 5. RADIATION ONCOLOGY MARKET SIZE, BY REGION, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 6. RADIATION ONCOLOGY MARKET DYNAMICS
FIGURE 7. RADIATION ONCOLOGY MARKET SIZE, BY PRODUCT, 2023 VS 2030 (%)
FIGURE 8. RADIATION ONCOLOGY MARKET SIZE, BY PRODUCT, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 9. RADIATION ONCOLOGY MARKET SIZE, BY TECHNOLOGY, 2023 VS 2030 (%)
FIGURE 10. RADIATION ONCOLOGY MARKET SIZE, BY TECHNOLOGY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 11. RADIATION ONCOLOGY MARKET SIZE, BY APPLICATION, 2023 VS 2030 (%)
FIGURE 12. RADIATION ONCOLOGY MARKET SIZE, BY APPLICATION, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 13. RADIATION ONCOLOGY MARKET SIZE, BY END-USER, 2023 VS 2030 (%)
FIGURE 14. RADIATION ONCOLOGY MARKET SIZE, BY END-USER, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 15. AMERICAS RADIATION ONCOLOGY MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 16. AMERICAS RADIATION ONCOLOGY MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 17. UNITED STATES RADIATION ONCOLOGY MARKET SIZE, BY STATE, 2023 VS 2030 (%)
FIGURE 18. UNITED STATES RADIATION ONCOLOGY MARKET SIZE, BY STATE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 19. ASIA-PACIFIC RADIATION ONCOLOGY MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 20. ASIA-PACIFIC RADIATION ONCOLOGY MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 21. EUROPE, MIDDLE EAST & AFRICA RADIATION ONCOLOGY MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 22. EUROPE, MIDDLE EAST & AFRICA RADIATION ONCOLOGY MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 23. RADIATION ONCOLOGY MARKET, FPNV POSITIONING MATRIX, 2023
FIGURE 24. RADIATION ONCOLOGY MARKET SHARE, BY KEY PLAYER, 2023

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