Radiation Oncology Market Is Segmented On The Basis Of Product, Application, Technology, And Region 2014-2025

Global Radiation Oncology Market is expected to reach USD 10.1 billion by 2025, according to a new report by Grand View Research, Inc. Rising prevalence of cancer is the prime factor responsible for substantial growth of radiation oncology market over the forecast period.

Technological advancements in radiotherapy resulted in increased adoption of radiation oncology as primary treatment line of cancer. Development of compact advanced radiotherapy options such as CyberKnife, Gamma Knife, and tomotherapy complemented this growth. These advanced methods pose lesser postoperative complications and faster recovery time.

Increasing per capita healthcare expenditure is also an important macroeconomic factor driving the market growth. In addition, with the aid of supportive government initiatives and awareness, patients are not hesitant to opt for advanced treatment options. For instance, per capita health expenditure witnessed exponential growth of more than 55.0% from 1995 to 2014, as stated by the World Bank Group.

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Further key findings from the study suggest:

• External Beam Radiation Therapy (EBRT) inclusive of compact advanced radiation therapy, proton therapy, and Linear Accelerator (LINAC), held lucrative share in the product segment of radiation oncology market in 2016.
• Brachytherapy is likely to gain maximum share over the next eight years. Extensive usage of brachytherapy for the treatment of prostate and breast cancer is anticipated to govern the growth.
• EBRT applications inclusive of prostate treatment, breast, lung, colorectal, head, and neck cancer dominated application segment.
• Image Guided Radiation Therapy (IGRT) contributed to technology with around 13.0% share in 2016. In this method, overall objective is to minimize the exposure to the healthy surrounding tissue.
• 3-D CRT technology is anticipated to grow at a lucrative growth rate over the next 8 years. In this technique, radiation beams form the shape at the specific site of cancer.
• North America held maximum share in global radiation oncology market in 2016. Developed health infrastructure, presence of many multinational players, and greater per capita health infrastructure are the key factors contributing to the dominance of this region over the forecast period.
• However, uncertain health reforms post the U.S. presidential election of 2016 coupled with shortage in supply of radiopharmaceuticals is likely to hinder the growth in this region.
• Varian Medical Systems, Elekta AB, Accuray Incorporated, Ion Beam Applications SA, C.R. Bard, Inc., IsoRay, Inc., Mevion Medical Systems, Nordion (Canada) Inc., NTP, and Mallinckrodt Public Limited Company are some of the key players operating in radiation oncology market.

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Grand View Research has segmented the Global Radiation Oncology Market by product, application, technology, and region:

Radiation Oncology Product Outlook (Revenue, USD Million; 2014 - 2025)

• External Beam Radiation Therapy

·         Electron-Emitting High-Energy Linear Accelerators (Linac)

·         Compact Advanced Radiotherapy Systems

§  Cyberknife

§  Gamma Knife

§  Tomotherapy

·         Proton Therapy

§  Cyclotron

§  Synchrotron

·         Brachytherapy

·         Seeds

·         Applicators and Afterloaders

·         Electronic Brachytherapy

·         Systemic Beam Radiation Therapy

·         Others

Radiation Oncology Application Outlook (Revenue, USD Million; 2014 - 2025)

• External Beam Radiation Therapy
• 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

Radiation Oncology Technology Outlook (Revenue, USD Million; 2014 - 2025)

• External Beam Radiation Therapy
• Image-Guided Radiotherapy (IGRT)
• Intensity Modulated Radiotherapy (IMRT)
• Stereotactic Technology
• Proton Beam Therapy
• 3D Conformal Radiotherapy (3D CRT)
• Volumetric Modulated Arc Therapy (VMAT)
• Brachytherapy
• Low-Dose Rate Brachytherapy
• High-Dose Rate Brachytherapy
• Systemic Beam Radiation Therapy
• Others

Radiation Oncology Regional Outlook (Revenue, USD Million; 2014 - 2025)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Asia Pacific
• China
• Japan
• Latin America
• Mexico
• Brazil
• MEA
• South Africa

Access press release of this research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-radiation-oncology-market  

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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