Radiation Oncology Market Share Will Increase at 4.6% CAGR Globally by 2030 | By AMR
Radiation oncology is a specialized field of medicine that focuses on using high-energy radiation to treat cancer and other medical conditions. By precisely targeting cancer cells and damaging their DNA, radiation therapy plays a crucial role in eradicating tumors and preventing their growth. The global radiation oncology market size was valued at $7.79 billion in 2021, and is projected to reach $15.23 billion by 2030, growing at a CAGR of 7.8% from 2022 to 2030.
Radiation Oncology Market in Short:
Current Market Size: USD 15.23 Billion
Fastest Growing Region: APAC
Largest Market: North America
Projection Time: 2022-2030
Base Year: 2022
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Q1. What are the driving factors and opportunities in the global radiation oncology market?
A. Increasing prevalence and mortality rate of cancer patients, changes in lifestyle & increase in consumption of highly processed foods along with technological advancements in technology like image guided and intensity modulated radiation therapy, digital imaging, and computer controlled linear accelerators are considered to be the drivers of the global radiation oncology market.
Q2. Which application wise industry sub-segment held the maximum share of the global radiation oncology market in 2021?
A. Breast Cancer sub-segment of the application wise industry acquired the maximum share of the global radiation oncology Market in 2021.
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This non-invasive treatment option can be used alone or in combination with surgery and chemotherapy, depending on the type and stage of cancer. With advanced technology and expert care, radiation oncology continues to contribute to improved cancer outcomes and enhanced quality of life for patients worldwide.
Among the analyzed regions, North America is expected to account for the highest revenue in the market in the forecasted years, followed by Europe, Asia-Pacific, LAMEA. North America has the most developed and advanced healthcare infrastructure which is influencing the adoption of radiation oncology techniques by cancer patients.
Major Key Market Players in the Industry –
- BD, Isoray Inc.,
- Provision Healthcare,
- Varian Medical Systems, Inc.,
- Elekta AB,
- Accuray Incorporated,
- Mevion Medical Systems,
- IBA Worldwide,
- Nordion (Canada) Inc.,
- Panacea Medical Technologies Pvt. Ltd
Market: By Region Outlook
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)
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Important Questions Being Answered by This Market Report Are –
Q1. What is the total market value of Radiation Oncology Market report?
Q2. What would be forecast period in the market report?
Q3. What is the market value of Radiation Oncology Market in 2032?
Q4. Which is base year calculated in the Radiation Oncology Market report?
Key findings of the study –
- Based on type, external beam radiation therapy sub-segment accounted for highest revenue share in 2019.
- Based on application, breast cancer sub-segment accounted for a significant market size in 2019.
- Based on region, the North America market had a major share of the radiation oncology market in 2019 and is expected to maintain its dominance in the next years.
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