Radiation Oncology Market By Type (External Beam Radiation Therapy, Internal Beam Radiation Therapy), By Application (Prostate Cancer, Breast Cancer, Lung Cancer, Head and Neck Cancer, Colorectal Cancer, Cervical Cancer, Gynecological Cancer, Others): Glo

Radiation Oncology Market By Type (External Beam Radiation Therapy, Internal Beam Radiation Therapy), By Application (Prostate Cancer, Breast Cancer, Lung Cancer, Head and Neck Cancer, Colorectal Cancer, Cervical Cancer, Gynecological Cancer, Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

The global radiation oncology market was valued at $7,794.4 million in 2021, and is anticipated to reach $15,231.2 million by 2030, growing at a CAGR of 7.8% from 2022 to 2030.

Radiation oncology is one of the treatment options for cancer along with surgery and chemotherapy. In radiation therapy, high energy protons are emitted into the effected part of the body, which stops the DNA replication and eventually death leads to the of cancer cells. Radiation therapy persists to be an an important part of treatment with 50% of cancer patients receiving it and with a contribution of 40% of the curative treatment.

According to WHO, cancer was one of the leading causes of deaths worldwide, counting for 10 million deaths in 2020, which is nearly one in every six deaths. Advancements like image guided and intensity modulated radiation therapy, digital imaging, and computer controlled linear accelerators have transformed radiation oncology over the past decade. These advancements have reduced the chances of many medical events and errors. The increase in sedentary lifestyle along with improper diet and lack of exercise are making patients prone to cancer.

In underdeveloped countries, extremely high treatment costs of cancer treatment are a serious issue. Infrastructure with a high level of technical advancement drives up costs. Despite the efforts of governments from other nations, contributions have not reached the bottom of the pyramid. Furthermore, technical improvements have resulted in additional problems such as device communication failures, software defects, and hardware failures, all of which hamper market growth. It is difficult for developing and underdeveloped countries to afford highly equipped radio oncology devices due to their high costs. Moreover, lack of adequate healthcare facilities along with lack of skilled surgeons in underdeveloped countries could hamper the market growth.

Rising mortality rate of cancer has been an important propeller to the market. The increasing number of cases will need a better treatment to the disease in future, and along with the cutting-edge technological advancement, it can be estimated that the market will be propelled in the forecasted period.

Healthcare Industries were favoured by the pandemic, however not every part was positively impacted. Many clinics across the world were converted into Covid-19 clinics to treat Covid patients. There was unavailability of hospital beds for cancer patients since Covid patients were taken on priority. Patients avoided visiting hospitals in fear contracting the infection. During the continuing COVID-19 situation, the Italian Association of Radiation and Clinical Oncology (AIRO), established a document to standardise radiotherapy operating practises [9] and conducted a focused nationwide survey.

The key players in the global radiation oncology market are Varian Medical Systems, Inc., Elekta AB, Accuray Incorporated, Mevion Medical Systems, IBA Worldwide, Nordion (Canada) Inc., BD, Isoray Inc., Provision Healthcare, and Panacea Medical Technologies Pvt. Ltd.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the radiation oncology market analysis from 2021 to 2030 to identify the prevailing radiation oncology market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the radiation oncology market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global radiation oncology market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

External Beam Radiation Therapy
Internal Beam Radiation Therapy

By Application

Prostate Cancer
Breast Cancer
Lung Cancer
Head and Neck Cancer
Colorectal Cancer
Cervical Cancer
Gynecological Cancer
Others

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest Of Asia Pacific
LAMEA
Brazil
Saudi Arabia
UAE
South Africa
Rest of LAMEA

Key Market Players

BD
Isoray Inc.
Provision Healthcare
Varian Medical Systems, Inc.
Elekta AB
Accuray Incorporated
Mevion Medical Systems
IBA Worldwide
Nordion (Canada) Inc.
Panacea Medical Technologies Pvt. Ltd

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