Transparency Market Research mentions the various market drivers for determining the trajectory of the global oncology radiation therapy market. The publication, titled “Oncology Radiation Therapy Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” highlights the various drivers, restraints, opportunities, and threats impacting the sales and revenue of the global market. It states that the high prevalence of cancer is expected to be the primary growth driver for the global oncology radiation therapy market in the near future. Radiation therapy has been designed and developed to target the diseased area with radioactive substances to destroy the cancerous cells without disturbing the surrounding area.
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According to the World Health Organization (WHO), cancer became the leading cause of morbidity and mortality among the global population in February 2015. Radiation therapy is used for majority of the cancer treatment, but it usually combined with chemotherapy, immunotherapy, and surgery. Technological advances, advancing cancer research, and development treatments that are suitable for treating cancer are expected to favor market growth during the forecast period. The market is also likely to be driven by the booming geriatric population across the globe.
The various methods used for radiation therapy are stereotactic radiotherapy and stereotactic radiosurgery. Today, these methods are extensively used for treating a wide range of cancers such as prostate, breast, lung, colorectal, and others. The sources of radiation are internal radiation therapy and external beam radiation therapy along with their related technologies. The other form of treatment is called systemic radiation therapy.
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In terms of geography, the global oncology radiation therapy market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. The research report states that North America and Europe have been leading the global oncology radiation therapy market due to a higher adoption of technology in the region. Furthermore, the regional markets are also expected to thrive as they are known to have a better healthcare infrastructure. On the other hand, Asia Pacific is also projected to be a lucrative ground for players in the oncology radiation therapy market are the medical tourism industry in the emerging economies of the region is poised to flourish.
Some of the key players operating in the global oncology radiation therapy market are Accuray, Inc., Brainlab AG, Boston Scientific Corporation, C.R. Bard, Inc., NTP Radioisotopes (pty) Ltd., GE Healthcare, Positron Corporation, Varian Medical Systems, Inc., and Siemens Healthcare. The research report provides an in-depth explanation of the competitive landscape of the global market. The publication also provides an evaluation of the business and marketing strategies, research and development statuses, and financial outlook of these companies for the forecast period. Additionally, the research report also offers a recommendation and comments by market leaders, which authenticates the information mentioned in the research report.
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