Summary

Radiation Oncology Market Research Report Information by Type (External Beam Radiation Therapy and Internal Radiation Therapy), By Application (Prostate Cancer, Breast Cancer, Lung Cancer, Head & Neck, and Others), By End-User (Hospitals & Clinics, Oncology Centers and Academic & Research Institutes) And by Region (North America, Europe, Asia-Pacific, and Rest of The World) –Market Forecast Till 2032
Market Dynamics
In 2023 the Radiation Oncology Market is expected to be worth USD 8.23 billion. With a compound annual growth rate (CAGR) of 8.0% for the forecast period (2024 – 2032), the sector is expected to rise from USD 8.90 billion in 2024 to USD 16.51 billion by 2032. Market expansion is being driven by the acceptance of combination treatments including radiation oncology with surgery and chemotherapy as well as by the rising global cancer rates.
The main driver of the radiation oncology market is the global increasing frequency of cancer driven by aging populations, changes in lifestyle, and environmental effects. Technological advances in radiation treatment—including but not limited to intensity-modulated radiation therapy (IMRT), stereotactic radiosurgery (SRS), and proton therapy—which have greatly improved treatment accuracy and patient results—have driven market expansion. Furthermore, the growing frequency of combination treatments like radiation oncology combined with chemotherapy and surgery helps to expand the market by giving patients more complete and effective treatment choices.
The fast growth of radiation oncology can be attributed in great part to the rising cancer incidence. The growing worldwide need for efficient treatment alternatives in response to the rising cancer incidence is driving expansion in the radiation oncology market.
Insights on Market Segments
The Radiation Oncology Market has split depending on the kind of product into internal and external beam radiation therapies.
Price range has split the Radiation Oncology Market into Prostate Cancer, Breast Cancer, Lung Cancer, Head and Neck Cancer, and Others.
Based on the end user, the market has been split into hospitals and clinics, oncology centers, academic and research institutes.
Regional Analysis
Regionally, the Radiation Oncology Market is broken out as North America, Europe, Asia-Pacific, and the Rest of the World. With an 8.2% CAGR throughout the projection period, North America is expected to reach over USD 7.24 billion by 2032 from having the highest market share in 2023. Still, Asia-Pacific is expected to expand at the highest CAGR of 8.4% during the next years.

Driven by numerous unique elements particular to the North America radiation oncology market, it is experiencing significant expansion. One major factor is the increasing cancer incidence in North America. An aging population and changes in lifestyle help to explain the rise in cancer incidence, hence demand for radiation oncology treatments is growing.
Driven by various unique elements particular to the area, the Europe radiation oncology market is poised for significant growth. One key factor is the growing cancer incidence all throughout Europe. The rising incidence of cancer has created a growing demand for advanced therapeutic techniques including radiation treatment.
Driven by several region-specific variables, the radiation oncology market in the Asia Pacific area is expected to grow rather significantly. The growing cancer prevalence in the Asia-Pacific area is a major factor.
Principal Participants
Key companies in the Radiation Oncology Market include Varian Medical Systems, Inc. (US), Elekta (Sweden), Accuracy Incorporated. (US), IBA Radiopharma Solutions (Belgium), BD (US), Mevion Medical Systems (US), Nordion (Canada), NTP Radioisotopes Soc Ltd. (South Africa), Curium (France), and Reflexion (US).

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Table of Contents

TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 20
2 MARKET INTRODUCTION 22
2.1 DEFINITION 22
2.2 SCOPE OF THE STUDY 22
2.3 RESEARCH OBJECTIVE 22
2.4 MARKET STRUCTURE 23
3 RESEARCH METHODOLOGY 24
3.1 OVERVIEW 24
3.2 DATA FLOW 25
3.2.1 DATA MINING PROCESS 26
3.3 PURCHASED DATABASE: 27
3.4 SECONDARY SOURCES: 28
3.4.1 SECONDARY RESEARCH DATA FLOW: 29
3.5 PRIMARY RESEARCH: 30
3.5.1 PRIMARY RESEARCH DATA FLOW: 31
3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED 32
3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE 32
3.6 APPROACHES FOR MARKET SIZE ESTIMATION: 33
3.6.1 CONSUMPTION & NET TRADE APPROACH 33
3.6.2 REVENUE ANALYSIS APPROACH 33
3.7 DATA FORECASTING 34
3.7.1 DATA FORECASTING TECHNIQUE 34
3.8 DATA MODELING 35
3.8.1 MICROECONOMIC FACTOR ANALYSIS: 35
3.8.2 DATA MODELING: 36
3.9 TEAMS AND ANALYST CONTRIBUTION 38
4 MARKET DYNAMICS 39
4.1 INTRODUCTION 39
4.2 DRIVERS 40
4.2.1 GROWING INCIDENCE OF CANCER 40
4.2.2 TECHNOLOGICAL ADVANCEMENTS IN RADIATION THERAPY 41
4.2.3 RISING ADOPTION OF COMBINATION THERAPIES INVOLVING RADIATION ONCOLOGY ALONGSIDE SURGERY AND CHEMOTHERAPY 41
4.3 CHALLENGES 42
4.3.1 REGULATORY APPROVAL CHALLANGES 42
4.3.2 REIMBURSEMENT CONCERNS 43
4.3.3 LACK OF SKILLED RADIOTHERAPY PROFESSIONALS 44
4.4 OPPORTUNITY 45
4.4.1 GROWING EMPHASIS ON VALUE-BASED HEALTHCARE AND TREATMENT SOLUTIONS 45
4.4.2 RISING UTILIZATION OF ARTIFICIAL INTELLIGENCE (AI) AND MACHINE LEARNING WITHIN THE FIELD OF RADIATION ONCOLOGY 45
5 MARKET FACTOR ANALYSIS 47
5.1 VALUE CHAIN ANALYSIS 47
5.1.1 PARTICIPANTS (AT DIFFERENT NODES) 47
5.1.1.1 RAW MATERIAL SUPPLIERS 47
5.1.1.2 MANUFACTURERS 48
5.1.1.3 DISTRIBUTION CHANNEL 48
5.1.1.4 END-USER 49
5.1.2 INTEGRATION LEVELS 49
5.1.3 KEY ISSUES ADDRESSED (KEY SUCCESS FACTORS) 50
5.2 PORTER’S FIVE FORCES MODEL 51
5.2.1 BARGAINING POWER OF SUPPLIERS 51
5.2.2 BARGAINING POWER OF BUYERS 52
5.2.3 THREAT OF NEW ENTRANTS 52
5.2.4 THREAT OF SUBSTITUTES 53
5.2.5 INTENSITY OF RIVALRY 54
5.3 IMPACT ANALYSIS OF COVID-19 54
5.3.1 IMPACT ON OVERALL HEALTHCARE MARKET 54
5.3.1.1 ECONOMIC IMPACT 55
5.3.2 IMPACT ON GLOBAL RADIATION ONCOLOGY MARKET 55
5.3.3 IMPACT ON MARKET DEMAND 56
5.3.3.1 IMPACT DUE TO RESTRICTIONS/LOCKDOWN 56
5.3.3.2 CONSUMER SENTIMENTS 56
5.3.4 IMPACT ON PRICING 56
6 GLOBAL RADIATION ONCOLOGY MARKET, BY TYPE 58
6.1 INTRODUCTION 58
6.2 EXTERNAL BEAM RADIATION THERAPY 59
6.2.1 LINEAR ACCELERATORS (LINAC) 60
6.2.1.1 GAMMA KNIFE 61
6.2.1.2 CYBERKNIFE 61
6.2.2 COBALT-60 SYSTEM 62
6.2.3 PARTICLE THERAPY SYSTEM 62
6.2.4 PROTON BEAM THERAPY SYSTEM 63
6.3 INTERNAL RADIATION THERAPY 63
6.3.1 SEEDS 64
6.3.2 AFTERLOADERS 64
6.3.3 INTRAOPERATIVE RADIOTHERAPY SYSTEMS 65
7 GLOBAL RADIATION ONCOLOGY MARKET, BY APPLICATION 66
7.1 INTRODUCTION 66
7.2 PROSTATE CANCER 67
7.3 BREAST CANCER 68
7.4 LUNG CANCER 68
7.5 HEAD & NECK 69
7.6 OTHERS 69
8 GLOBAL RADIATION ONCOLOGY MARKET, BY END USER 71
8.1 INTRODUCTION 71
8.2 HOSPITALS & CLINICS 72
8.3 ONCOLOGY CENTERS 72
8.4 ACADEMIC & RESEARCH INSTITUTES 73
9 GLOBAL RADIATION ONCOLOGY MARKET, BY REGION 75
9.1 OVERVIEW 75
9.2 NORTH AMERICA 76
9.2.1 US 81
9.2.2 CANADA 83
9.3 EUROPE 85
9.3.1 GERMANY 90
9.3.2 FRANCE 92
9.3.3 UK 94
9.3.4 ITALY 96
9.3.5 SPAIN 98
9.3.6 REST OF EUROPE 100
9.4 ASIA PACIFIC 102
9.4.1 CHINA 106
9.4.2 JAPAN 108
9.4.3 INDIA 110
9.4.4 SOUTH KOREA 112
9.4.5 AUSTRALIA 114
9.4.6 REST OF ASIA PACIFIC 116
9.5 REST OF THE WORLD 118
9.5.1 MIDDLE EAST 123
9.5.2 AFRICA 125
9.5.3 LATIN AMERICA 127
10 COMPETITIVE LANDSCAPE 129
10.1 INTRODUCTION 129
10.2 COMPETITION DASHBOARD 129
10.2.1 PRODUCT PORTFOLIO 130
10.2.2 REGIONAL PRESENCE 130
10.2.3 STRATEGIC ALLIANCES 131
10.2.4 INDUSTRY EXPERIENCES 131
10.3 MARKET SHARE ANALYSIS, 2022 131
10.4 THE LEADING PLAYER IN TERMS OF NUMBER OF DEVELOPMENTS IN THE GLOBAL RADIATION ONCOLOGY MARKET 132
10.5 LIST OF KEY PLAYERS, BY COUNTRY 132
10.6 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL 133
10.7 KEY DEVELOPMENTS & GROWTH STRATEGIES 134
10.7.1 PRODUCT LAUNCH 134
10.7.2 PARTNERSHIP & COLLABORATION 137
10.7.3 EXPANSION & ACQUISITION 139
10.7.4 INVESTMENT 140
11 COMPANY PROFILES 141
11.1 VARIAN MEDICAL SYSTEMS, INC. 141
11.1.1 COMPANY OVERVIEW 141
11.1.2 FINANCIAL OVERVIEW 142
11.1.3 PRODUCTS OFFERED 143
11.1.4 KEY DEVELOPMENTS 143
11.1.5 SWOT ANALYSIS 144
11.1.6 KEY STRATEGY 144
11.2 ELEKTA 145
11.2.1 COMPANY OVERVIEW 145
11.2.2 FINANCIAL OVERVIEW 146
11.2.3 PRODUCTS OFFERED 147
11.2.4 KEY DEVELOPMENTS 147
11.2.5 SWOT ANALYSIS 147
11.2.6 KEY STRATEGY 148
11.3 ACCURACY INCORPORATED 148
11.3.1 COMPANY OVERVIEW 148
11.3.2 FINANCIAL OVERVIEW 150
11.3.3 PRODUCTS OFFERED 151
11.3.4 KEY DEVELOPMENTS 151
11.3.5 SWOT ANALYSIS 153
11.3.6 KEY STRATEGY 153
11.4 IBA RADIOPHARMA SOLUTIONS 155
11.4.1 COMPANY OVERVIEW 155
11.4.2 FINANCIAL OVERVIEW 156
11.4.3 PRODUCTS OFFERED 157
11.4.4 KEY DEVELOPMENTS 157
11.4.5 SWOT ANALYSIS 158
11.4.6 KEY STRATEGY 158
11.5 BD 160
11.5.1 COMPANY OVERVIEW 160
11.5.2 FINANCIAL OVERVIEW 161
11.5.3 PRODUCTS OFFERED 162
11.5.4 SWOT ANALYSIS 162
11.5.5 KEY STRATEGY 162
11.6 MEVION MEDICAL SYSTEMS 163
11.6.1 COMPANY OVERVIEW 163
11.6.2 PRODUCTS OFFERED 164
11.6.3 KEY DEVELOPMENTS 164
11.6.4 SWOT ANALYSIS 165
11.6.5 KEY STRATEGY 165
11.7 NORDION 167
11.7.1 COMPANY OVERVIEW 167
11.7.2 FINANCIAL OVERVIEW 168
11.7.3 PRODUCTS OFFERED 168
11.7.4 KEY DEVELOPMENTS 168
11.7.5 SWOT ANALYSIS 168
11.7.6 KEY STRATEGY 169
11.8 NTP RADIOISOTOPES SOC LTD 170
11.8.1 COMPANY OVERVIEW 170
11.8.2 PRODUCTS OFFERED 171
11.8.3 KEY DEVELOPMENTS 171
11.8.4 SWOT ANALYSIS 171
11.8.5 KEY STRATEGY 172
11.9 CURIUM 173
11.9.1 COMPANY OVERVIEW 173
11.9.2 PRODUCTS OFFERED 174
11.9.3 KEY DEVELOPMENTS 174
11.9.4 SWOT ANALYSIS 175
11.9.5 KEY STRATEGY 175
11.10 REFLEXION 176
11.10.1 COMPANY OVERVIEW 176
11.10.2 PRODUCTS OFFERED 177
11.10.3 KEY DEVELOPMENTS 177
11.10.4 SWOT ANALYSIS 177
11.10.5 KEY STRATEGY 178