Radiation Therapy in Oncology Market Revenue Growth Factors & Trends, Key Player Strategy Analysis, 2021-2030

June 22 03:12 2022
Radiation Therapy in Oncology Market Revenue Growth Factors & Trends, Key Player Strategy Analysis, 2021-2030
Radiation Therapy in Oncology Market | Emergen Research
Radiation Therapy in Oncology Market Size – USD 5.68 Billion in 2021, Market Growth – at a CAGR of 5.08%, Market Trends – Commercialization of proton

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. Steady market revenue growth can be attributed to increasing prevalence of cancer and increasing adoption of radiation therapy procedures in hospitals, clinics, and other medical centers.

Estimates from the World Health Organization (WHO) indicate that approximately 10 million deaths occurred globally due to cancer in 2020, with lung cancer accounting for over 1.5 million deaths. Rising incidence rate is expected to increase adoption of radiation therapy procedures in medical sector globally and support market revenue growth.

Radiation methods of cancer therapy are non-invasive, have a faster recovery time, decreased chance of post-surgery infections, and shorter period of hospitalization. Also, radiation therapy in oncology, especially internal radiation therapy, is considered advantageous owing to use of localized radiation dose. This enables reduced radiation exposure to nearby tissues, and in turn, effectively lessens chances of second malignancies induced by radiation therapy, which is of severe concern, especially in case of children. Internal radiation therapy is often used for rare cases of cancer in pediatrics. According to WHO, around 400,000 children develop some form of cancer each year. Radiology procedures enable healthcare providers to reduce the mortality rate and accelerate the treatment process.

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Leading Companies of the Radiation Therapy in Oncology Industry and Profiled in the Report are:

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.

Some Key Highlights in the Report

On 04 October 2021, C-RAD AB announced the partnership agreement with Accuray Incorporated to improve the ability of Radixact System of the latter for treatment of breast cancer. As part of the partnership, both firms would offer customers with deep inspiration breath hold (DIBH) solution deploying the Radixact System and C-RAD Catalyst+ HD. Deep inspiration breath hold is a procedure often used for treating breast cancer.

Among the type segments, internal beam radiation therapy segment is expected to register rapid revenue CAGR over forecast period. Internal beam radiation therapy provides a concentrated radiation dose to tumor site instantly after removal of tumor, enabling destruction of leftover microscopic tumor cells. While performing internal beam radiation therapy, radiation oncologists administer an accurate radiation dose to safeguard healthy tissues, including skin, from any damage. This therapy helps in lessening requirement for additional radiation therapy.

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Based on technology, image guided radiotherapy segment accounted for a significantly large revenue share in 2021. Image-guided radiation therapy integrates imaging procedures during each treatment session and deploys high-energy radiation beams to combat cancer and noncancerous tumors. Incorporation of detailed images enables image guided radiation therapy to reduce the focus area of radiation beam. Benefits of image guided radiotherapy comprises precise delivery of radiation, better definition, monitoring, and localization of tumor size, shape, and location prior to and during treatment.

Among the application segments, breast cancer segment accounted for considerably large revenue share in 2021. High incidence and mortality rate of breast cancer are driving adoption of radiation therapeutic methods in medical centers. According to the American Cancer Society, breast cancer accounts for approximately 30% of all cancers in women in the U.S.

Radiation therapy in oncology market in North America accounted for largest revenue share in 2021, attributed to rising prevalence of cancer, high use of novel procedures in oncology, and high healthcare expenditure. In addition, collaborations between academic institutions and medical device manufacturers to commercialize innovative radiation therapy techniques is another factor driving market growth in the region.

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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

Brachytherapy

Others

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Application Outlook (Revenue, USD Billion; 2022–2030)

Breast Cancer

Lung Cancer

Prostate Cancer

Cervical Cancer

Colorectal Cancer

Others

Regional Outlook (Revenue, USD Billion; 2022–2030)

North America

U.S.

Canada

Mexico

Europe

Germany

U.K.

France

Italy

Spain

Sweden

BENELUX

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Israel

Rest of MEA

Key insights presented in the report:

  • Market revenue shares by major business players, by type, by application, and market scope of global Radiation Therapy in Oncology market
  • Sales revenue by key players and new entrants
  • Competitive analysis of the key players including aspects such as company overview, product or services specification, vendors, and buyers.
  • Recent mergers, acquisitions, product launches, recent investments, and joint ventures
  • Regional analysis to provide insight to recent trends and opportunities

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About Emergen Research 

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