Radiation Oncology Market By Type (External Beam Radiation Therapy, Systemic Beam Radiation Therapy, and Brachytherapy), By Technology (Stereotactic Technology, Proton Beam Therapy, Volumetric Modulated Arc Therapy (VMAT), Image-Guided Radiotherapy (IGRT), 3D Conformal Radiotherapy (3D CRT), Intensity Modulated Radiotherapy (IMRT), Low-Dose Rate Brachytherapy, High-Dose Rate Brachytherapy, and Others), By Application (Lung Cancer, Breast Cancer, Head and Neck Cancer, Colorectal Cancer, Prostate Cancer, and Others), Industry Trends, Estimation & Forecast, 2023-2030

Market Definition

Radiation oncology is a therapeutic use of radiation to treat cancer for cure or reduce pain and other symptoms caused by cancer. Radiation oncology therapy also uses computed tomography (CT) scans, ultrasound, magnetic resonance imaging (MRI), and hyperthermia (heat) as an additional intervention to aid in treatment planning and delivery.

The Radiation Oncology market was valued at 8.3 billion US$ in 2022 and is projected to reach 14.8 billion US$ by 2030, at a CAGR of 7.5% during the forecast period.

Market Dynamics

Rising prevalence of cancer is a key driving factor of the market. Cancer is the second leading cause of death globally. According to the World Health Organization (WHO), in 2018, around 18.1 million new cancer cases were diagnosed globally, and 9.6 million people died due to cancer. Worldwide, the total number of people alive with 5-year cancer prevalence is around 43.8 million. According to the American Cancer Society, in 2020, an estimate of new cancer cases and deaths accounts for 1.8 million new cancer cases and 606,520 cancer deaths in the United States. According to the Canadian Cancer Society, in 2020, an estimate of 225,800 new cancer cases was diagnosed and 83,300 cancer deaths in Canada. According to the World Health Organization (WHO), each year, more than 3.7 million new cancer cases are diagnosed, and 1.9 million people die from cancer in Europe. According to the World Health Organization (WHO), India accounts for 1.16 million new cancer cases in 2018. In 2018, around 752,000 new cancer cases were diagnosed, and 506,000 died due to cancer in sub-Saharan Africa. However, the adverse effects of radiotherapy might hamper the market growth. The radiotherapy might damage healthy cells and tissues near the treatment area, and cause dryness, itching, blistering, or peeling. The side of radiotherapy is based on the area of treatment. Moreover, technological advancements in radiotherapy would provide lucrative opportunities for the market in the coming years.

Market Segmentation

The global radiation oncology market is mainly classified based on type, technology, and application. Type is further segmented into External Beam Radiation Therapy, Systemic Beam Radiation Therapy, and Brachytherapy. By technology the market is divided into Stereotactic Technology, Proton Beam Therapy, Volumetric Modulated Arc Therapy (VMAT), Image-Guided Radiotherapy (IGRT), 3D Conformal Radiotherapy (3D CRT), Intensity Modulated Radiotherapy (IMRT), Low-Dose Rate Brachytherapy, High-Dose Rate Brachytherapy, and Others. By application, the market is further divided into Lung Cancer, Breast Cancer, Head and Neck Cancer, Colorectal Cancer, Prostate Cancer, and Others.

External Beam Radiation Therapy was dominating the global radiation oncology market in 2019. External beam radiation therapy is used to provide high-energy rays or electron beams from outside the body into the tumor. The stronger doses of external beam radiation therapy get to certain parts of the tumor and help in reducing the damage to nearby normal body tissues. External beam radiation system includes Gamma Knife, CyberKnife, and tomotherapy; these systems are used for a wide range of applications. However, the increasing commercialization of the regulatory approved external beam radiation system is one of the key factors boosting the global radiation oncology market. For instance, Accuray Incorporated has introduced the CyberKnife S7 System. The CyberKnife S7 System is a robotic, non-invasive radiation therapy device for treating cancerous and benign tumors throughout the body, and neurologic disorders.

Regional Analysis

Based on geography, the global radiation oncology market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America was dominating the global radiation oncology market in 2019, owing to the rising prevalence of cancer, increasing research and development activities on radiation oncology, the collaboration between companies to develop and commercialize the radiotherapy system, and growing investment for oncology treatment. For instance, RefleXion Medical has received $100 million in funding to commercialize revolutionary cancer treatment. The company is developing a biology-guided radiotherapy system (BgRT) for targeted cancer treatment.

Competitive landscape

Key players operating in the radiation oncology industry include Accuray Inc., C.R. Bard, Inc., Elekta AB, Varian Medical Systems, Inc., Ion Beam Applications (IBA), Isoray Medical, Nordion Inc., NTP Radioisotopes SOC Ltd., Mevion Medical Systems, Mallinckrodt Public Limited Company, and Curium SAS.

The increasing commercialization of radiation oncology product, the collaboration between companies to develop and distribute radiation oncology products, regional expansion, technological advancement, acquisitions, and licensing, increasing regulatory approval for product expansion are some of the strategies adopted by the major companies.
For instance, GT Medical Technologies, Inc., has received the U.S. Food and Drug Administration (FDA) approval on the expanded indication for GammaTile Therapy. FDA-approved surgically targeted radiation therapy (STaRT) are eligible to patients with newly diagnosed malignant brain tumors.

Radiation Oncology Market Key Segments:

By Type
• External Beam Radiation Therapy
• Systemic Beam Radiation Therapy
• Brachytherapy

By Technology
• Stereotactic Technology
• Proton Beam Therapy
• Volumetric Modulated Arc Therapy (VMAT)
• Image-Guided Radiotherapy (IGRT)
• 3D Conformal Radiotherapy (3D CRT)
• Intensity Modulated Radiotherapy (IMRT)
• Low-Dose Rate Brachytherapy
• High-Dose Rate Brachytherapy
• Others

By Application
• Lung Cancer
• Breast Cancer
• Head and Neck Cancer
• Colorectal Cancer
• Prostate Cancer
• Others

Key Global Radiation Oncology Industry Players
• Accuray Inc.
• C.R. Bard, Inc.
• Elekta AB
• Varian Medical Systems, Inc.
• Ion Beam Applications (IBA)
• Isoray Medical
• Nordion Inc.
• NTP Radioisotopes SOC Ltd.
• Mevion Medical Systems
• Mallinckrodt Public Limited Company
• Curium SAS

Table of Content

1. Market Introduction
1.1. Executive Summary
1.2. Market Definition
1.3. Market Scope

2. Research Methodology
2.1. Primary Research
2.2. Research Methodology
2.3. Assumptions & Exclusions
2.4. Secondary data sources

3. Radiation Oncology Market Overview
3.1. Report Segmentation & Scope
3.2. Key Market Trend
3.3. Drivers
3.3.1. Rising Prevalence of Cancer
3.4. Restraints
3.4.1. Adverse Effects of Radiotherapy
3.5. Opportunity
3.5.1. Technological Advancements in Radiotherapy
3.6. Porter’s Five Forces Analysis
3.6.1. Porter’s Five Forces Analysis
3.7. Market Share Analysis

4. Type Overview
4.1. Introduction
4.1.1. Market Size & Forecast
4.2. External Beam Radiation Therapy
4.2.1. Market Size & Forecast
4.3. Systemic Beam Radiation Therapy
4.3.1. Market Size & Forecast
4.4. Brachytherapy
4.4.1. Market Size & Forecast

5. Technology Overview
5.1. Introduction
5.1.1. Market Size & Forecast
5.2. Stereotactic Technology
5.2.1. Market Size & Forecast
5.3. Proton Beam Therapy
5.3.1. Market Size & Forecast
5.4. Volumetric Modulated Arc Therapy (VMAT)
5.4.1. Market Size & Forecast
5.5. Image-Guided Radiotherapy (IGRT)
5.5.1. Market Size & Forecast
5.6. 3D Conformal Radiotherapy (3D CRT)
5.6.1. Market Size & Forecast
5.7. Intensity Modulated Radiotherapy (IMRT)
5.7.1. Market Size & Forecast
5.8. Low-Dose Rate Brachytherapy
5.8.1. Market Size & Forecast
5.9. High-Dose Rate Brachytherapy
5.9.1. Market Size & Forecast
5.10. Others
5.10.1. Market Size & Forecast

6. Application Overview
6.1. Introduction
6.1.1. Market Size & Forecast
6.2. Lung Cancer
6.2.1. Market Size & Forecast
6.3. Breast Cancer
6.3.1. Market Size & Forecast
6.4. Head and Neck Cancer
6.4.1. Market Size & Forecast
6.5. Colorectal Cancer
6.5.1. Market Size & Forecast
6.6. Prostate Cancer
6.6.1. Market Size & Forecast
6.7. Others
6.7.1. Market Size & Forecast

7. Radiation Oncology Market Regional Overview
7.1. Introduction
7.1.1. Market Size & Forecast
7.2. North America Radiation Oncology Market
7.2.1. North America Market Size & Forecast, By Country
7.2.2. North America Market Size & Forecast, By Type
7.2.3. North America Market Size & Forecast, By Technology
7.2.4. North America Market Size & Forecast, By Application
7.2.5. U.S.
7.2.5.1. Market Size and Forecast
7.2.6. Canada
7.2.6.1. Market Size and Forecast
7.2.7. Mexico
7.2.7.1. Market Size and Forecast
7.3. Europe Radiation Oncology Market
7.3.1. Europe Market Size & Forecast, By Country
7.3.2. Europe Market Size & Forecast, By Type
7.3.3. Europe Market Size & Forecast, By Technology
7.3.4. Europe Market Size & Forecast, By Application
7.3.5. Germany
7.3.5.1. Market Size and Forecast
7.3.6. France
7.3.6.1. Market Size and Forecast
7.3.7. UK
7.3.7.1. Market Size and Forecast
7.3.8. Italy
7.3.8.1. Market Size and Forecast
7.3.9. Spain
7.3.9.1. Market Size and Forecast
7.3.10. Rest of Europe
7.3.10.1. Market Size and Forecast
7.4. Asia-Pacific Radiation Oncology Market
7.4.1. Asia-Pacific Market Size & Forecast, By Country
7.4.2. Asia-Pacific Market Size & Forecast, By Type
7.4.3. Asia-Pacific Market Size & Forecast, By Technology
7.4.4. Asia-Pacific Market Size & Forecast, By Application
7.4.5. Japan
7.4.5.1. Market Size and Forecast
7.4.6. China
7.4.6.1. Market Size and Forecast
7.4.7. Australia
7.4.7.1. Market Size and Forecast
7.4.8. India
7.4.8.1. Market Size and Forecast
7.4.9. South Korea
7.4.9.1. Market Size and Forecast
7.4.10. Rest of Asia-Pacific
7.4.10.1. Market Size and Forecast
7.5. South America Radiation Oncology Market
7.5.1. South America Market Size & Forecast, By Country
7.5.2. South America Market Size & Forecast, By Type
7.5.3. South America Market Size & Forecast, By Technology
7.5.4. South America Market Size & Forecast, By Application
7.5.5. Brazil
7.5.5.1. Market Size and Forecast
7.5.6. Argentina
7.5.6.1. Market Size and Forecast
7.5.7. Rest of South America
7.5.7.1. Market Size and Forecast
7.6. Middle East & Africa Radiation Oncology Market
7.6.1. Middle East & Africa Market Size & Forecast, By Country
7.6.2. Middle East & Africa Market Size & Forecast, By Type
7.6.3. Middle East & Africa Market Size & Forecast, By Technology
7.6.4. Middle East & Africa Market Size & Forecast, By Application
7.6.5. GCC Countries
7.6.5.1. Market Size and Forecast
7.6.6. Egypt
7.6.6.1. Market Size and Forecast
7.6.7. South Africa
7.6.7.1. Market Size and Forecast
7.6.8. Rest of Middle East & Africa
7.6.8.1. Market Size and Forecast

8. Company Profile
8.1. Accuray Inc.
8.1.1. Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
8.1.2. Accuray Inc. Product Category, Application, and Specification
8.1.3. Accuray Inc. Financial Performance (2016-2018)
8.1.4. Main Business/Business Overview
8.2. C.R. Bard, Inc.
8.3. Elekta AB
8.4. Varian Medical Systems, Inc.
8.5. Ion Beam Applications (IBA)
8.6. Isoray Medical
8.7. Nordion Inc.
8.8. NTP Radioisotopes SOC Ltd.
8.9. Mevion Medical Systems
8.10. Mallinckrodt Public Limited Company
8.11. Curium SAS