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Global Radiation Oncology Market Trends and Drivers, Restraints, and Opportunities 2018-2024

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  • 103 Pages
  • February 2018
  • Region: Global
  • IHR Insights
  • ID: 4600687
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Global Radiation Oncology Market – Drivers, Restraints, Opportunities, Trends, and Forecasts: 2018–2024

Overview: Radiation oncology is a medical specialty that uses high energy radiation such as gamma rays, X-rays, protons, or electrons for cancer treatment. These high energy ionizing radiation damage nucleic acids, either directly or indirectly, through the formation of reactive oxygen species and free radicals. Radiation treatment can be used in combination with chemotherapy, surgery, and immunotherapy. According to the estimation of National Cancer Institute, in the US, around 1.6 million new cases of cancer are diagnosed, and 595,690 people have died due to cancer in 2016. According to the study of World Health Organization, approximately 14 million new cancer cases were diagnosed and is expected to increase by about 70% over the next 2 decades. Increasing cancer cases and increasing adoption of non-invasive procedures in emerging countries are expected to fuel the growth of the radiation oncology market in the near future.

The radiation oncology market is booming due to increasing incidences of cancer globally, increasing elderly population, and technological advancements. The high cost of instrument and therapy, side effects, and lack of trained technicians in developing countries are few of the factors hampering the market growth. The markets in emerging countries are expected to grow rapidly during the forecast period due to increasing healthcare spending, growing patient pool, and increasing healthcare awareness among the public.

Market Analysis:  The “Global Radiation Oncology” market is estimated to witness a CAGR of 6.7% during the forecast period 2018–2024. The market is analyzed based on four segments – therapy type, application, end-users, and regions.

Regional Analysis:  The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is set to be the leading region for the radiation oncology market growth followed by Europe, Asia Pacific, and Rest of the World.

Therapy Type Analysis: The market, by therapy type, is segmented into external beam radiation therapy, internal beam radiation therapy, and systemic radiation therapy. External beam radiation therapy occupied the largest share in 2017 due to its high usability, and it is a highly effective treatment for various cancer types such as prostate cancer (that can cure up to 95% of cases). External beam radiation therapy is further segmented by technology and products. The technologies include IGRT, IMRT, VMAT, SBRT, SRS, IMPT, and others. Various products include linear accelerators and proton therapy systems among others.

Application Analysis: The market, by application, is segmented into prostate cancer, cervical cancer, breast cancer, lung cancer, head & neck cancer, brain cancer, and others. Prostate cancer occupies the largest market share and is expected to be the fastest growing segment during the forecast period.

End-users Analysis: The market, by end-users, is segmented into hospitals, radiation therapy centers, ambulatory service centers, and others. Hospitals occupied a significant share of the radiation oncology market in 2016, and this trend is expected to continue for the next 5 years.

Key Players:  Accuray Incorporated, Elekta AB, Varian Medical Systems, C.R. Bard, Inc., IBA Worldwide, Carl Zeiss Meditec AG, Mevion Medical Systems, Nordion, Inc., IsoRay, Inc., Hitachi Medical Corporation, ViewRay, Inc., and other predominate & niche players.

Competitive Analysis: Currently, external beam radiation therapy dominates the global radiation oncology market. The existing leading players and other predominant market players are concentrating on this market to offer advanced and innovative products with fewer side effects. The key market players are acquiring small companies to enhance their product portfolio and strengthen their leadership position in the market. Apart from this, major players are launching new radiation therapy products to have the edge in the market. For instance, in May 2017, Varian Medical Systems introduced the Halcyon system, an entirely new device for cancer treatment. In September 2017, Qfix launched new radiotherapy positioning technology for the accurate treatment of breast cancer.

Benefits: The report provides complete details about the usage and adoption rate of radiation oncology products in various applications and regions. With that, key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, government initiatives toward the product adoption in the upcoming years along with the details of commercial products available in the market. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market.

Table of Contents

1 Industry Outlook
1.1 Industry overview
1.2 Industry Trends

2 Report Outline
2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions

3 Market Snapshot
3.1 Market Definition 
3.2 Advantages of Radiation Oncology
3.3 Side-effects of Radiation Oncology
3.4 Segmented Addressable Market (SAM)
3.5 Trends of the Radiation Oncology market
3.6 Related Markets
3.6.1 Cancer immunotherapy
3.6.2 Oncology drugs

4 Market Outlook
4.1 Overview
4.2 Funding scenario
4.3 Market segmentation
4.4 PEST Analysis
4.5 Porter 5(Five) Forces

5 Market Characteristics
5.1 DRO – Global Radiation Oncology Market Dynamics
5.1.1 Drivers Growing incidence of cancer globally Advancement in technology
5.1.2 Opportunities Growing elderly population Increasing adoption of non-invasive procedures in emerging countries
5.1.3 Restraints Lack of trained technicians in developing countries Side effects High cost of instrument and therapy

6 Therapy type: Market Size and Analysis
6.1 Overview
6.2 External beam radiation therapy (EBRT)
6.2.1 By technology Image-guided radiation therapy (IGRT) Intensity-modulated radiation therapy (IMRT) Volumetric modulated arc therapy (VMAT) Stereotactic body radiation therapy (SBRT) Intensity modulated proton therapy (IMPT) Stereotactic radiosurgery (SRS) Others
6.2.2 By Products Linear accelerator (LINAC) Proton therapy systems
6.3 Internal beam radiation therapy/Brachytherapy
6.3.1 By technology High Dose Rate (HDR) brachytherapy Low Dose Rate (LDR) brachytherapy Others
6.3.2 By Products Seeds Applicators, afterloaders and other accessories
6.4 Systemic beam radiation therapy

7 Application: Market Size and Analysis
7.1 Overview
7.2 Prostate cancer
7.3 Cervical cancer
7.4 Breast cancer
7.5 Lung cancer
7.6 Head and Neck cancer
7.7 Brain cancer
7.8 Others

8 End Users: Market Size and Analysis
8.1 Overview
8.2 Hospitals
8.3 Radiation therapy centres
8.4 Ambulatory surgery centers
8.5 Others

9 Regions: Market Size and Analysis
9.1 Overview
9.2 North America
9.2.1 Overview
9.2.2 US
9.2.3 Canada
9.3 Europe
9.3.1 Overview
9.3.2 UK
9.3.3 Germany
9.3.4 France
9.3.5 Spain
9.4 APAC
9.4.1 Overview
9.4.2 India
9.4.3 China
9.4.4 Japan
9.5 Rest of the World
9.5.1 Overview
9.5.2 Brazil
9.5.3 Middle East

10 Competitive Landscape
10.1 Overview

11 Vendor Profiles
11.1 Accuray Incorporated
11.1.1 Overview
11.1.2 Geographic Presence
11.1.3 Business Focus
11.1.4 SWOT Analysis
11.1.5 Business Strategies
11.2 Elekta
11.2.1 Overview
11.2.2 Geographic Presence
11.2.3 Business Focus
11.2.4 SWOT Analysis
11.2.5 Business Strategy
11.3 Varian Medical Systems
11.3.1 Overview
11.3.2 Business Units
11.3.3 Geographic Presence
11.3.4 Business Focus
11.3.5 SWOT Analysis
11.3.6 Business Strategies
11.4 C. R. Bard, Inc.
11.4.1 Overview
11.4.2 Business Units
11.4.3 Business Focus
11.4.4 SWOT Analysis
11.4.5 Business Strategies
11.5 IBA worldwide
11.5.1 Overview
11.5.2 Business Units
11.5.3 Geographic Presence
11.5.4 Business Focus
11.5.5 SWOT Analysis
11.5.6 Business Strategies

12 Companies to Watch For
12.1.1 Overview
12.1.2 Carl Zeiss Meditec AG: Recent Developments
12.2 Mevion Medical Systems
12.2.1 Overview
12.2.2 Mevion Medical Systems, Inc.: Recent Developments
12.3 Nordion, Inc.
12.3.1 Overview
12.3.2 Nordion, Inc.: Recent Developments
12.4 IsoRay, Inc.
12.4.1 Overview
12.4.2 IsoRay, Inc.: Recent Developments
12.5 Hitachi Medical Corporation
12.5.1 Overview
12.5.2 Hitachi Medical Corporation: Recent Developments
12.6 ViewRay, Inc.
12.6.1 Overview
12.6.2 ViewRay, Inc.: Recent Developments

13 Annexure
13.1 Abbreviations

Table 1 Funding Scenario
Table 2 Global Radiation Oncology Market, By Therapy Type, 2017–2024 ($Million)
Table 3 Global Radiation Oncology Market Revenue By Regions, 2017–2024 ($Million)
Table 4 Global Radiation Oncology Market By Vendor Ranking, 2017
Table 5 Other Prominent Vendors Of Radiation Oncology Market
Table 6 Accuray Incorporated: Product Offerings
Table 7 Accuray Incorporated: Recent Developments
Table 8 Elekta AB: Product Offerings
Table 9 Elekta AB: Recent Developments
Table 10 Varian Medical Systems: Product Offerings
Table 11 Varian Medical Systems: Recent Developments
Table 12 C.R. Bard: Product Offerings
Table 13 C.R. Bard: Recent Developments
Table 14 Ion Beam Applications Sa: Product Offerings
Table 15 Ion Beam Applications Sa: Recent Developments
Table 16 Carl Zeiss Meditec Ag: Snapshot
Table 17 Mevion Medical Systems, Inc.: Snapshot
Table 18 Nordion, Inc.: Snapshot
Table 19 Isoray Inc.: Snapshot
Table 20 Hitachi Medical Corporation: Snapshot
Table 21 Viewray, Inc.: Snapshot


Chart 1 Research Methodology Of Global Radiation Oncology Market
Chart 2 Global Radiation Oncology Market Revenue, 2017–2024 ($Million)
Chart 3 Global Radiation Oncology Market Segmentation
Chart 4 Pest Analysis Of Global Radiation Oncology Market
Chart 5 Porter 5 Forces On Global Radiation Oncology Market
Chart 6 DRO – Impact Analysis Of Global Radiation Oncology Market
Chart 7 Key Stakeholders
Chart 8 Global Radiation Oncology Market By Therapy Type, 2017 (%)
Chart 9 Global Radiation Oncology Market By Therapy Type, 2024 (%)
Chart 10 Global External Beam Radiation Therapy Market Revenue Forecast, 2017–2024 ($Million)
Chart 11 Global Beam External Radiation Therapy Market By Technology Segmentation, 2017 (%)
Chart 12 Global Radiation Oncology Market By Product Segmentation, 2017 (%)
Chart 13 Global Internal Beam Radiation Therapy Market Revenue Forecast, 2017–2024 ($Million)
Chart 14 Global Internal Beam Radiation Therapy Market By Technology Segmentation, 2017 (%)
Chart 15 Global Internal Beam Radiation Therapy Market By Product Segmentation, 2017 (%)
Chart 16 Global Systemic Beam Radiation Therapy Market Revenue Forecast, 2017–2024 ($Million)
Chart 17 Global Radiation Oncology Market By Application Segmentation, 2017 (%)
Chart 18 Global Radiation Oncology Market By End-Users Segmentation, 2017 (%)
Chart 19 Global Radiation Oncology Market By Geographical Segmentation, 2017 (%)
Chart 20 Radiation Oncology Market Revenue In North America, 2017–2024 ($Million)
Chart 21 Radiation Oncology Market Revenue In Europe, 2017–2024 ($Million)
Chart 22 Radiation Oncology Revenue In Asia-Pacific, 2017–2024 ($Million)
Chart 23 Radiation Oncology Market Revenue In Rest Of The World, 2017–2024 ($Million)
Chart 24 Accuray Incorporated: Overview Snapshot
Chart 25 Accuray Incorporated: Geographical Presence
Chart 26 Accuray Incorporated: Swot Analysis
Chart 27 Elekta Ab: Overview Snapshot
Chart 28 Elekta Ab: Geographic Presence
Chart 29 Elekta Ab: Swot Analysis
Chart 30 Varian Medical Systems: Overview Snapshot
Chart 31 Varian Medical Systems: Business Units
Chart 32 Varian Medical Systems: Geographical Presence
Chart 33 Varian Medical Systems: Swot Analysis
Chart 34 C. R. Bard, Inc.: Overview Snapshot
Chart 35 C.R. Bard Inc.: Business Units
Chart 36 C.R. Bard: Swot Analysis
Chart 37 Ion Beam Applications: Overview Snapshot
Chart 38 Ion Beam Applications: Business Units
Chart 39 Ion Beam Applications: Geographical Presence
Chart 40 Ion Beam Applications: Swot Analysis

Companies Mentioned

  • Accuray Incorporated
  • C.R. Bard Inc.
  • Carl Zeiss Meditec AG
  • Elekta AB
  • Hitachi Medical Corporation
  • IBA Worldwide
  • IsoRay Inc.
  • Mevion Medical Systems
  • Nordion Inc.
  • Varian Medical Systems
  • ViewRay Inc.