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    Radiation Oncology Market Report

    Radiation Oncology Market Report
    Report code - SRHL302 Delivery - 2 Weeks
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    Global Radiation Oncology Market, Dynamics, and Market Analysis
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    Impact of COVID-19 on Radiation Oncology Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Radiation Oncology Market

    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.

    Market Insights

    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)

    Radiation-Oncology-Market-Forecast

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    What is Radiation Oncology Market?

    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

    Key players operating in the global Radiation Oncology market are-

    • 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).

    Market Dynamics

    The global market growth is primarily driven by increasing cancer prevalence among consumers.

    • Increasing adoption of radiation therapy to cure various types of cancer including prostate cancer, breast cancer, lung cancer, gynaecological cancer, and cervical cancer is likely to propel the market growth at a significant rate during the review period.
    • Growing emphasis on technological advancement in the treatment process providing improved efficacy and few side effects is expected to create lucrative opportunities for the market players during the review period.

    Segment Analysis

    Type Trends

    Based on type, the market has been divided into external beam radiation therapy and internal beam radiation therapy.

    • The external beam radiation therapy type segment has been further sub-segmented into linear accelerators, compact advanced radiotherapy systems and proton therapy, while the internal beam radiation therapy segment has been further sub-segmented into brachytherapy, systemic beam radiation therapy and others.
    • The external beam radiation therapy segment accounted for the substantial market share in 2020. The segment growth can be attributed to its widespread usage in treating cancer and relatively high equipment cost.

    Regional Trends

    The market in North America accounted for largest share in 2020.

    • The regional market growth can be attributed to increasing incidences of cancer.
    • Additionally, presence of established healthcare infrastructure and key market players such as Varian Medical Systems, Inc. (US), and Isoray Medical (US) is likely to add to the market growth substantially.
    • The market in Asia-Pacific region is projected to register healthy growth rate on account of increasing prevalence of cancer and rising awareness about the available cancer treatment methods.

    COVID-19 Impact on Global Radiation Oncology Market

    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.

    Critical Queries answered in the report -

    • What are the key trends in the global Radiation Oncology market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the global Radiation Oncology market?
    • What are the key strategies adopted by the major vendors to lead in the global Radiation Oncology market?
    • What is the market share of the top vendors?

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    Target Audience

    Here is the list of the group of customers that the Global Radiation Oncology Market hopes to have the greatest opportunity to convert-

    • Radiation oncology distributors
    • Radiation oncology suppliers
    • Radiation oncology manufacturers
    • Logistics organizations
    • Government bodies

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].

    Frequently Asked Questions (FAQs)

    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.

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