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The Radiation Oncology Market size was estimated at USD 13.59 billion in 2023, USD 14.56 billion in 2024, and is expected to grow at a CAGR of 7.28% to reach USD 22.23 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
Radiation oncology focuses on the use of ionizing radiation in the treatment of cancer. It involves the precise delivery of radiation to target and eliminate cancer cells or inhibit their development. Radiation therapy is a critical element of cancer treatment and can be used as a standalone therapy or in combination with chemotherapy and other therapeutic modalities. Radiation oncology continually evolves with technological advancements and treatment techniques, allowing for more precise and effective cancer care. Factors contributing to the growth of the radiation oncology market include the increasing global prevalence of cancer, advancements in radiation therapy technologies, and the rising demand for non-invasive treatment modalities. However, the high costs associated with radiation therapy and related instruments and a lack of skilled professionals pose a significant challenge to the market. Rising government enterprises and investments in R&D in the treatment of cancer treatments and advances in radiation oncology treatment to improve treatment safety create a lucrative opportunity for the radiation oncology market.
Regional Insights
The radiation oncology market is growing in the Americas due to high healthcare expenditure, advanced healthcare infrastructure, and a robust pipeline of technological innovations. The rising aging population, rising cancer prevalence, and a well-established reimbursement system facilitate access to radiation therapy in the region. The European Union exhibits a strong demand for radiation oncology services with a well-distributed network of facilities and a growing interest in oncology research and development. The Middle East and Africa’s radiation oncology market is influenced by growing investment in healthcare infrastructure, an increasing adoption of advanced technologies, and the establishment of new cancer treatment facilities procuring new-generation equipment. Governmental investments in healthcare infrastructure and a rising incidence of cancer emphasis on local equipment manufacturing demonstrate significant growth of the radiation oncology market in the APAC region.FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Radiation Oncology Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Radiation Oncology Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.Key Company Profiles
The report delves into recent significant developments in the Radiation Oncology Market, highlighting leading vendors and their innovative profiles. These include Accuray Incorporated, Becton, Dickinson and Company, Bionix LLC, BrainLab AG, Canon Inc., Carl Zeiss AG, Curium SAS, Eckert and Ziegler AG, Elekta AB, GE HealthCare Technologies Inc., Hitachi, LTD., Hologic, Inc., IntraOp Medical, Inc., Ion Beam Applications S.A., Isoray Inc., Koninklijke Philips N.V., Nordion Inc., Optivus Proton Therapy, Inc., P-Cure LTD., Panacea Medical Technologies Pvt. LTD., Provision Healthcare, LLC., Stryker Corporation, Sumitomo Heavy Industries, LTD, Theragenics Corporation, Varian Medical Systems by Siemens Healthineers, and ViewRay, Inc.Market Segmentation & Coverage
This research report categorizes the Radiation Oncology Market to forecast the revenues and analyze trends in each of the following sub-markets:- Product
- Hardware
- Services
- Software
- Technology
- External Beam Radiation Therapy
- Compact advanced radiotherapy systems
- Cyberknife
- Gamma Knife
- Tomotherapy
- Linear Accelerators (Linac)
- Proton Therapy
- Cyclotron
- Synchrotron
- Compact advanced radiotherapy systems
- Internal Beam Radiation Therapy
- Brachytherapy
- Applicators & After loaders
- Electronic Brachytherapy
- Seeds
- Systemic Beam Radiation Therapy
- Brachytherapy
- External Beam Radiation Therapy
- Application
- Blood Cancer
- Breast Cancer
- Gastrointestinal Cancer
- Prostate Cancer
- Respiratory & Lung Cancer
- Skin Cancer
- End-User
- Hospitals
- Independent Radiotherapy Centers
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Radiation Oncology Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Radiation Oncology Market?
- What are the technology trends and regulatory frameworks in the Radiation Oncology Market?
- What is the market share of the leading vendors in the Radiation Oncology Market?
- Which modes and strategic moves are suitable for entering the Radiation Oncology Market?
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Table of Contents
1. Preface
2. Research Methodology
4. Market Overview
5. Market Insights
6. Radiation Oncology Market, by Type
7. Radiation Oncology Market, by Application
8. Americas Radiation Oncology Market
9. Asia-Pacific Radiation Oncology Market
10. Europe, Middle East & Africa Radiation Oncology Market
11. Competitive Landscape
12. Competitive Portfolio
13. Appendix
List of Figures
List of Tables
Companies Mentioned
- Accuray Incorporated
- Becton, Dickinson and Company
- Bionix LLC
- BrainLab AG
- Canon Inc.
- Carl Zeiss AG
- Curium SAS
- Eckert and Ziegler AG
- Elekta AB
- GE HealthCare Technologies Inc.
- Hitachi, LTD.
- Hologic, Inc.
- IntraOp Medical, Inc.
- Ion Beam Applications S.A.
- Isoray Inc.
- Koninklijke Philips N.V.
- Nordion Inc.
- Optivus Proton Therapy, Inc.
- P-Cure LTD.
- Panacea Medical Technologies Pvt. LTD.
- Provision Healthcare, LLC.
- Stryker Corporation
- Sumitomo Heavy Industries, LTD
- Theragenics Corporation
- Varian Medical Systems by Siemens Healthineers
- ViewRay, Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 195 |
| Published | March 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 14.56 Billion |
| Forecasted Market Value ( USD | $ 22.23 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 26 |
