The global radiation therapy in oncology market size is expected to reach USD 8.86 Billion at a revenue CAGR of 5.08% in 2030, according to latest analysis by Emergen Research. Commonly referred to as radiation therapy, radiotherapy is one of the three most widely used cancer treatment modalities, along with surgery and chemotherapy. Increasing prevalence of cancer across the globe is a key factor expected to drive growth of the market over the forecast period. According to National Cancer Institute’s SEER Cancer Statistics Review, an estimated 1,735,350 new cases of cancer will be diagnosed in the U.S. in 2019. Of these, 609,640 are expected to succumb to the disease.
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Rising government initiatives for early detection and treatment of cancer is another key factor fueling growth of the market. For instance, National Cancer Moonshot Initiative was launched by former U.S. President Barack Obama in 2016 with an aim to accelerate cancer research and improve patient care. Furthermore, increasing health awareness among people is another major factor expected to support growth of the market over the forecast period.
Radiation methods of cancer therapy are non-invasive and can be used in combination with other cancer therapies. The most common type of radiation therapy is external beam radiation therapy, which uses a machine outside the body to direct high-energy waves toward the tumor site. There are many different types of radiation therapy available, and the best type for each individual patient depends on several factors, including the type of cancer being treated, the size and location of the tumor, and the patient’s overall health.
Some Key Highlights in the Report
- On 04 October 2021, C-RAD AB announced that it has entered into an agreement with Beijing-based United Imaging Healthcare Co., Ltd. to cooperate on cancer treatment solutions, which will enable C-RAD to enter the Chinese market. Under the terms of the agreement, United Imaging will promote, sell and service C-RAD’s products in China.
- On the basis of product, the market has been segmented into linear accelerators, brachytherapy devices, and proton therapy systems. The linear accelerator segment is expected to register highest CAGR over the forecast period owing to increasing adoption of linear accelerators in cancer treatment. For instance, according to a study published in the International Journal of Cancer in 2017, patients receiving curative treatment for oral or oropharyngeal cancer had significantly higher chances of survival if treated with linear accelerators.
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- On the basis of application, the market has been segmented into brain & spinal cord tumors, breast cancer, colorectal cancer, gynecologic cancers, head & neck cancer, lung cancer, prostate cancer, and others. The brain & spinal cord tumors segment is expected to grow at the highest CAGR over the forecast period owing to increasing prevalence of brain tumors. For instance, according to American Brain Tumor Association, every year there are an estimated 700,000 people in the U.S. living with a primary brain tumor and almost 86% of these are malignant.
- On the basis of end-use, the market has been segmented into hospitals & clinics, specialty centers, academic & research institutes, and others. The hospitals & clinics segment is expected to register highest CAGR over the forecast period owing to increasing number of hospitals and clinics across the globe.
- Based on technology, image guided radiotherapy segment accounted for a significantly large revenue share in 2021 due to the increasing availability of sophisticated imaging techniques and their wide applications in cancer treatment.
- The intensity modulated radiation therapy (IMRT) segment is also expected to grow at a rapid pace during the forecast period due to factors such as ability to reduce healthy tissue damage and growing preference for non-invasive cancer treatments.
- The proton therapy segment is projected to register the highest CAGR during the forecast period owing to the rising preference for proton therapy and the increasing number of proton therapy centers.
- Some major companies in the global market report include Elekta AB, Isoray Medical, Nordion Inc., Varian Medical Systems Inc., NTP Radioisotopes SOC Ltd., Accuracy Inc., Viewray Technologies Inc., Mevion Medical Systems Inc., C. R. Bard Inc., and Curium Pharma.
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Emergen Research has segmented the global radiation therapy in oncology market on the basis of type, technology, application, and region:
- Type Outlook (Revenue, USD Billion; 2022–2030)
- Internal Beam Radiation Therapy
- External Beam Radiation Therapy
- Technology Outlook (Revenue, USD Billion; 2022–2030)
- Image Guided Radiotherapy
- Stereotactic Technology
- Proton Beam Therapy
- Intensity Modulated Radiotherapy
- 3D Conformal Radiotherapy
- Application Outlook (Revenue, USD Billion; 2022–2030)
- Breast Cancer
- Lung Cancer
- Prostate Cancer
- Cervical Cancer
- Colorectal Cancer
- Regional Outlook (Revenue, USD Billion; 2022–2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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