Global Radiation Oncology Market Trends, Growth, Opportunities and Forecast To 2028

 The global radiation oncology market size is expected to reach USD 11.51 billion by 2028 according to a new study by Polaris Market Research. The most recent analysis on the it provides a comprehensive review of all the important factors expected to drive market growth, including major drivers, constraints, market share, industry volume, recent trends, major breakthroughs, emerging opportunities, and future scope. The report's most crucial outcome for new market entrants includes a market-specific study, successful working strategies, key developments in the industrial sector, and major activities of leading players to persist in the market. This comprehensive research report includes a full market analysis as well as a market expert's opinion from the standpoint of the current market position and future projections.

Market Segmentation

The study divides the Radiation Oncology market into several parts to make it easier to understand the market dynamics. The major shareholder, higher revenue-generating, and dominating segments that are major drivers for the growth of the target market are covered in this section of the report. Players will need such analysis to determine the actual scope of the futuristic outlook and the potential for increased revenue.

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COVID-19 Impact Analysis

With detailed research, the research report discusses the influence of the COVID-19 pandemic on the Radiation Oncology market growth. This study will serve as an ideal roadmap for market players to devise strategies to overcome the negative effects of COVID-19 and seize the market's current prospects. This section is included in the report to give market readers a clear picture of the market environment throughout the pandemic period, as well as estimates for the post-pandemic condition. All readers, as well as stakeholders, vendors, and purchasers, will obtain a thorough grasp of the market on a domestic and worldwide level as a result of this in-depth market analysis.

Regional Analysis

The market research also sheds light on the regional analysis of the global Radiation Oncology market, as well as a detailed examination of the different factors that enable specific regional markets to dominate the industry. The report forecasts total sales growth in several regions, as well as market development at the country level. The report's regional market study will aid readers in comprehending market reach in various regions. This section of the research will help players find untapped potential markets and extend their business in these lucrative regions to expand their customer base.

Competitive Landscape of Radiation Oncology Market

For conducting extensive analysis, the study used a balanced mix of primary and secondary research approaches. The study includes market shares, production capacity, growth rates, product launches, and future projects for the major firms in the industry. It addresses the critical market elements that must be considered during strategic planning for both existing and new competitors in the Radiation Oncology market. The prominent players present in the market are: Medtronic (Ireland), Stryker Corporation (US), Smith & Nephew (UK), Zimmer Biomet (US), and Intuitive Surgical (US) among others.

Reasons to Purchase this Report

• Analysis at the domestic and country-level that sheds light on the demand and supply aspects that are largely driving the Radiation Oncology market's growth.
• A competitive landscape that includes firm profiles with essential financial data, a SWOT analysis, product offerings, recent developments, and strategies used.
• Comprehensive market analysis, including key drivers, restraints, growth rate, current trends, and potential prospects.
• Market segmentation analysis, which includes both quantitative and qualitative research, as well as the impact of policy and economic factors.

Customization of the Report

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Radiation Oncology Market With Business Strategies And Analysis To 2028

 The global radiation oncology market size is expected to reach USD 11.51 billion by 2028 according to a new study by Polaris Market Research. The report “Radiation Oncology Market Share, Size, Trends, Industry Analysis Report, By Type (External Beam Radiation Therapy [EBRT], Internal Beam Radiation Therapy [IBRT]); By Technology (External Beam Radiation Therapy, Brachytherapy); By Application; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

Radiation therapy or radiotherapy is the most important part of cancer treatment and it is used in the treatment of more than 50% of cancer patients. It is a form of treatment used in cancer that employs X-rays, protons, or other forms of energy to kill cancer cells. Radiotherapy is of two types that include EBRT and IBRT.

 

EBRT is the most commonly used form of radiotherapy. External beam therapy will employ an x-ray or electron beam, and linear accelerator machines are used to generate these beams. It is used in the treatment of various types of cancers such as breast cancer, colorectal cancer, lung cancer, prostate cancer, brain tumor, esophageal cancer, and head and neck cancer. IBRT is also known as brachytherapy, wherein the high dose of radiation will be directly delivered into the cancerous tumor by implanting radioactive materials at the site of the tumor.

 

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Cancer incidence is on the rise across the globe with nearly 20 million cases globally every year. Lung cancer and breast cancer are the common types of cancers. Other major types of cancer include prostate cancer and colorectal cancer. Prostate cancer affected 1.3 million people globally. It is the second common type of cancer in men, and it accounts for 7% of all cancer cases diagnosed in men globally.

 

In recent years, various products have been received approval from regulatory authorities and launched in the market. For instance, Elekta Unity was launched by Elekta Korea, in February 2021. The system combines MR-LINAC and magnetic resonance imaging. The system can provide high-quality anatomical images of patients in real-time. ClearRT Helical kVCT imaging developed by Accuray Inc received US regulatory approval, in January 2021.

 

The imaging system is used in the Radixact treatment delivery system. This imaging system when combined with the Radixact system will provide greater precision and accuracy to view various pathologies during treatment. Various cancer centers across the globe are installing high-end radiation machines.

 

The COVID-19 pandemic has little impact on the market for radiation oncology, as therapy is an integral part of cancer treatment and hospitals across the globe are treating cancer patients even during the pandemic time, pandemic is expected to have a negligible impact on the oncology market growth over the forecast period.

 

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Market Participants such as Varian Medical Systems, Inc., Accuray Incorporated, Elekta AB, Isoray Medical, Ion Beam Applications (IBA), Mevion Medical Systems, Inc., C.R. BARD, INC. (BD), NTP Radioisotopes SOC Ltd., Nordion Inc., Nordion Inc., and Viewray Technologies, Inc. are some of the key market players operating in the global oncology market.

 

Polaris Market Research has segmented the radiation oncology market report on the basis of type, technology, application, and region:

Radiation Oncology, Type Outlook (Revenue – USD Million, 2016 – 2028)

• External Beam Radiation Therapy
  • Linear Accelerators
  • Compact Advanced Radiotherapy Systems
    • Cyberknife
    • Gamma Knife
    • Tomotherapy
  • Proton Therapy
    • Cyclotron
    • Synchrotron
• Internal Beam Radiation Therapy
  • Brachytherapy
    • Seeds
    • Applicators and Afterloaders
    • Electronic Brachytherapy
  • Systemic Beam Radiation Therapy
  • Others

Radiation Oncology, Technology Outlook (Revenue – USD Million, 2016 – 2028)

• External Beam Radiation Therapy (EBRT)
  • Image-GUIDED Radiation Therapy (IGRT)
  • Intensity Modulated Radiotherapy (IMRT)
  • Stereotactic Technology
  • Proton Beam Therapy
  • 3D Conformal Radiotherapy (3D-CRT)
  • Volumetric Modulated ARC Therapy (VMAT)
• Brachytherapy
  • Low Dose Rate (LDR) Brachytherapy
  • High Dose Rate (HDR) Brachytherapy

Radiation Oncology, Application Outlook (Revenue – USD Million, 2016 – 2028)

• External Beam Radiation Therapy (EBRT)
  • Prostate cancer
  • Breast cancer
  • Lung cancer
  • Head and neck cancer
  • Colorectal cancer
  • Others
• Internal Beam Radiation Therapy
  • Prostate Cancer
  • Gynecological Cancer
  • Breast Cancer
  • Cervical Cancer
  • Penile Cancer
  • Others