Global Radiation Oncology Market by Product Types, Application Types and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

The radiation oncology market was valued at approximately USD 6.6Billion in 2019 and is expected to surpass USD 10Billion by 2026, expanding at a CAGR of 7.3% during the forecast period 2020–2026.

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Radiation oncology is a medical specialty that involves the controlled use of radiation to treat cancer either for cure, or to reduce pain and other symptoms caused by cancer. Radiation therapy (also called radiotherapy) is the term used to describe the actual treatment delivered by the radiation oncology team. Three unique specialist professions are involved in the practice of radiation oncology: radiation oncologists (doctors), radiation therapists and radiation oncology medical physicists. These highly trained medical professionals use advanced technologies to deliver safe and effective radiation therapy to cancer patients with as few side effects as possible. Radiation therapy can be applied safely to a wide range of cancers, and may be used alone or in conjunction with surgery, chemotherapy and other treatments.

It is usually completely non-invasive, and accessed through out-patient clinics. Radiation therapy is a highly cost-effective cancer treatment. The technology used in radiation oncology is constantly improving. Recent advances have benefited many patients with cancer, resulting in higher cure rates, fewer side effects, shorter treatments and improved quality of life. New technology provides three-dimensional images of tumors that precisely target radiation beams to the cancer, limiting damage to important adjacent organs. Real-time imaging is in development which will enable treatment teams to compensate for tiny involuntary patient movements, such as breathing. Current clinical trials are investigating drugs that sensitize cancer cells to the effects of radiation, making them easier to destroy with radiation therapy. Meanwhile, protective drugs may help healthy cells recover better after exposure to radiation.

Market Trends, Drivers, Restraints, and Opportunities:

The rapid increase in the number of cancer patients has been a factor that has been driving this market.
The rise in installation and maintenance costs has been an aspect that has been restraining the growth of the market. The maintenance of a radiation oncology devices has been an issue for various hospital and diagnostic centers.
The technological advancements resulted in increased adoption of radiation oncology as primary cancer treatment. Development of compact advanced radiotherapy options such as CyberKnife, Gamma Knife and tomotherapy are expected to help in increasing the growth of the market.

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Competitive Landscape:

The global radiation oncology market has been fragmented by presence of various regional and global players. The global radiation oncology market is highly competitive and marked by the presence of several global and local players. Agreements and partnerships, strategic acquisitions, and technological development are the major strategies adopted by the companies in this market. Some of the major players are Elekta AB, Ion Beam Applications SA, Mevion Medical Systems, Inc., Varian Medical Systems, Nordion Inc., C.R. Bard, Inc., Accuray Incorporated and IsoRay Inc.

The global radiation oncology market has been segmented on the basis of

Product Types

External beam radiation therapy
Internal beam radiation therapy
Brachytherapy

Application types

Prostate cancer
Breast cancer
Lung cancer
Penile cancer
Cervical cancer
Head and neck cancer

Regions

Asia Pacific
Europe
North America
Middle East and Africa
Latin America

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Table of Contents

Executive Summary
Assumptions and Acronyms Used
Research Methodology
Radiation Oncology Market Overview
Global Radiation Oncology Market Analysis and Forecast by Type
Global Radiation Oncology Market Analysis and Forecast by Application
Global Radiation Oncology Market Analysis and Forecast by Sales Channel
Global Radiation Oncology Market Analysis and Forecast by Region
North Radiation Oncology Market Analysis and Forecast
Latin Radiation Oncology Market Analysis and Forecast
Europe Radiation Oncology Market Analysis and Forecast
Asia Pacific Radiation Oncology Market Analysis and Forecast
Middle East & Africa Radiation Oncology Market Analysis and Forecast
Competition Landscape

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