Global Radiation Oncology Market Report 2022-2027

Radiation oncology market reached a value of US$ 6.97 Bn in 2021 and is expected to reach a value of US$ 10.88 Bn by 2027, exhibiting a CAGR of 7.50% (2022-27).

SHERIDAN, WYOMING, UNITED STATES, November 15, 2022 /EINPresswire.com/ -- The latest research study “Radiation Oncology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global radiation oncology market size reached US$ 6.97 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 10.88 Billion by 2027, exhibiting a CAGR of 7.50% during 2022-2027.

What is Radiation Oncology?

Radiation oncology, alternatively known as radiotherapy, represents a cancer treatment that relies on high radiation doses to shrink tumors and kill cancer cells. In terms of technology, it can be categorized into image-guided radiotherapy (IGRT), stereotactic technology, proton beam therapy, volumetric modulated arc therapy (VMAT), brachytherapy, etc. These radiation oncology therapies are localized treatments delivered by linear accelerators or through radioactive sources placed inside a patient on a permanent or temporary basis. They help restrict the spread of cancer and minimize damage to healthy cells. Consequently, radiation oncology treatments find extensive applications in numerous segments of the healthcare sector, such as hospitals, cancer research institutes, ambulatory and radiotherapy centers, etc.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Market Trends and Drivers:

The increasing prevalence of cancer among individuals, on account of the rising tobacco and alcohol consumption, unhealthy diet, and physical inactivity, is primarily driving the radiation oncology market. Furthermore, the growing usage of external beam radiation therapy in treating breast, colorectal, esophageal, neck, lung, and prostate cancer is also positively influencing the market growth.

Additionally, the introduction of radioactive iodine therapy (I-131), which can cure a few thyroid cancers and the launch of targeted radionuclide therapy that helps treat advanced gastroenteropancreatic neuroendocrine tumors (GEP-NETs) are acting as significant growth-inducing factors.

Besides this, the expanding cancer research centers across the globe and the elevating focus among key market players towards developing motion tracking, real-time imaging, and 3D conformal radiotherapy integrated with artificial intelligence (AI) are expected to augment the radiation oncology market in the coming years

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Global Radiation Oncology Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Accuray Incorporated
• Becton Dickinson and Company
• Canon Inc.
• Elekta
• Hitachi Ltd.
• Icad Inc.
• Ion Beam Applications
• Isoray Inc.
• Mevion Medical Systems Inc.
• Nordion (Canada) Inc. (Sotera Health)
• P-Cure Ltd.
• Varian Medical Systems Inc. (Siemens Healthineers AG)
• ViewRay.

Key Market Segmentation:

The report has been segmented the market into following categories:

Breakup by Type:
• External Beam Radiation Therapy
o Linear Accelerators
o Compact Advanced Radiotherapy Systems
o Proton Therapy
• Internal Beam Radiation Therapy
o Brachytherapy
o Systemic Beam Radiation Therapy
o Others

Breakup by Technology:
• Image-Guided Radiotherapy (IGRT)
• Intensity Modulated Radiotherapy (IMRT)
• Stereotactic Technology
• Proton Beam Therapy
• 3D Conformal Radiotherapy (3D CRT)
• Volumetric Modulated Arc Therapy (VMAT)
• Brachytherapy

Breakup by Application:
• Prostate Cancer
• Breast Cancer
• Lung Cancer
• Head and Neck Cancer
• Colorectal Cancer
• Gynecological Cancer
• Cervical Cancer
• Penile Cancer
• Others

Breakup by End User:
• Hospitals
• Cancer Research Institutes
• Ambulatory and Radiotherapy Centers

Breakup by Geography:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
+1 6317911145
email us here

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