Radiation Oncology Market Report
The report on the Global Radiation Oncology Market is segmented by Type (External Beam Radiation Therapy, Internal Beam Radiation Therapy), By Technology (Image-GUIDED Radiation Therapy (IGRT), Intensity Modulated Radiotherapy (IMRT), Stereotactic Technology, Proton Beam Therapy, 3D Conformal Radiotherapy (3D-CRT), Volumetric Modulated ARC Therapy (VMAT), Low, Dose Rate (LDR) Brachytherapy, High Dose Rate (HDR) Brachytherapy), By Application (Prostate cancer, Breast cancer, Lung cancer, Gynecological Cancer, Cervical Cancer, Other), and Region. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Radiation Oncology market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
The report on the Global Radiation Oncology Market is segmented by Type (External Beam Radiation Therapy, Internal Beam Radiation Therapy), By Technology (Image-GUIDED Radiation Therapy (IGRT), Intensity Modulated Radiotherapy (IMRT), Stereotactic Technology, Proton Beam Therapy, 3D Conformal Radiotherapy (...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Global Radiation Oncology Market is estimated to grow from USD 6.8 billion in 2020 to USD 10.1 billion by 2026 at a healthy CAGR of 6.88% during the forecast period.
Figure: Global Radiation Oncology Market Size, 2020-2026 (USD Billion)
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Radiation oncology also known as radiation therapy is defined as a type of cancer treatment in which beams of intense energy are used to kill cancer cells. It damages the cells by destroying genetic material which controls the growth of the cell. It is a multidisciplinary approach to cancer treatment. The process involves the usage of high-energy X rays(photons) that are most commonly delivered through a linear accelerator.
Key players operating in the global Radiation Oncology market are-
The global market growth is primarily driven by increasing cancer prevalence among consumers.
Based on type, the market has been divided into external beam radiation therapy and internal beam radiation therapy.
The market in North America accounted for largest share in 2020.
The covid-19 outbreak posed significant challenges to the health care system across geographies. It affected the growth of the radiation oncology market negatively as patients postponed their treatment due to a rapid surge in covid-19 cases across geographies. Additionally, people having cancer were at risk of becoming severely ill. Also, supply chain disruptions due to the imposition of lockdown affected the installation of equipment in the hospital and thus, affected the market growth.
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Here is the list of the group of customers that the Global Radiation Oncology Market hopes to have the greatest opportunity to convert-
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The radiation oncology market is expected to witness an impressive growth of 6.88% CAGR in the foreseeable future.
Varian Medical Systems, Inc. (The U.S), Isoray Medical (The U.S), Elekta AB (Sweden), Mevion Medical Systems, Inc. (The U.S), Accuray Incorporated (The U.S), Nordion Inc. (Canada), Ion Beam Applications (IBA), (Belgium), NTP Radioisotopes SOC Ltd. (South Africa), C.R. BARD, INC. (BD), (The U.S), Viewray Technologies, Inc. (The U.S) and Curium Pharma (UK) are among the key players in the radiation oncology market.
The radiation oncology market size is expected to reach USD 10.1 billion in the coming years.
North America accounted for the largest share in the radiation oncology market in 2020.
The external beam radiation therapy segment accounted for the substantial share in the radiation oncology market in 2020.
Increasing cancer prevalence among consumers, increasing adoption of radiation therapy to cure various types of cancer, growing emphasis on technological advancement in the treatment process providing improved efficacy and few side effects are the factors driving the growth of radiation oncology market.
Radiation oncology distributors, Radiation oncology suppliers, Radiation oncology manufacturers, Logistics organizations, Government bodies are the target audience in the radiation oncology market.