The global demand for Radiation Oncology Market is presumed to reach the market size of nearly USD 28.82 BN by 2030 from USD 11.23 BN in 2022 with a CAGR of 11.04% under the study period 2023 - 2030.
Oncology is the treatment of cancer, and radiation oncology is the treatment of cancer through radiation therapy. Radiation therapy or radiotherapy is a therapy that utilizes ionizing radiation, usually provided for cancer treatment, to control or kill malignant cells. A linear accelerator usually delivers it. It uses a keenly targeted and regulated amount of high-energy radiation to kill cancer cells. The radiation beams change the DNA makeup of the tumor, causing it to shrink or die. This type of treatment has fewer side effects than chemotherapy.
Market Dynamics
Cancer has become more prevalent in recent times than ever, due to which the demand for radiation oncology is growing. As more people learn about radiation therapy's benefits over chemotherapy, most cancer patients tend to switch to radiation therapy, thus increasing its demand. Technological advancements in radiation therapy are also a leading cause of the growth of the radiation therapy market. Many countries are also investing their resources in research relating to radiation therapy which further increases its demand. The demand for radiation therapy is anticipated to grow as many emerging nations might access high-quality healthcare. One drawback faced by the radiation therapy market is the scarcity of qualified radiotherapy specialists.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of radiation oncology. The growth and trends of radiation oncology industry provide a holistic approach to this study.
Market Segmentation
This section of the radiation oncology market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
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
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Radiation Oncology market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Radiation Oncology Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the radiation oncology market include 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. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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