Radiation Oncology Market Report 2026

The radiation oncology market size has grown strongly in recent years. It will grow from $8.73 billion in 2025 to $9.54 billion in 2026 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to increasing cancer incidence rates, expansion of oncology treatment centers, adoption of external beam radiation therapy, availability of standardized radiotherapy protocols, growing investment in cancer care infrastructure.

The radiation oncology market size is expected to see strong growth in the next few years. It will grow to $13.5 billion in 2030 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increasing adoption of personalized oncology treatments, rising demand for stereotactic and proton therapies, expansion of AI-assisted treatment planning, growing focus on outpatient cancer care, increasing investments in advanced oncology equipment. Major trends in the forecast period include increasing adoption of image-guided radiation therapy, rising use of precision and targeted treatment techniques, growing integration of ai in treatment planning, expansion of advanced linear accelerator installations, enhanced focus on minimizing radiation exposure to healthy tissue.

The growing number of cancer cases worldwide is expected to strongly drive the growth of the radiation oncology market in the coming years. Cancer incidence continues to rise due to factors such as aging populations, lifestyle-related risks, and improved early detection methods. Increased exposure to unhealthy lifestyles and environmental pollutants contributes to higher mutation rates and the gradual development of malignant cells. Radiation oncology employs high-energy radiation to destroy cancer cells, reduce tumor size, and support surgical and chemotherapy treatments, with advanced technologies improving precision and clinical outcomes. For instance, in February 2024, according to the World Health Organization, a Switzerland-based intergovernmental organization, there were an estimated 20 million new cancer cases in 2022. The WHO and International Agency for Research on Cancer project that new cancer cases could reach 35 million by 2050, representing a 77% increase compared to 2022. Therefore, the growing cancer burden is driving demand for advanced radiation oncology treatments.

Major companies operating in the radiation oncology market are concentrating on the development of advanced radiation therapy systems that integrate AI-powered imaging and adaptive technologies to improve treatment accuracy, minimize side effects, and enhance patient outcomes across a wide range of cancer indications. AI-powered radiotherapy involves the application of artificial intelligence to optimize treatment planning, imaging, delivery, and monitoring processes. For example, in May 2024, Elekta, a Sweden-based medical technology company, launched Evo, its latest CT-Linac system featuring high-definition AI-enhanced imaging to improve radiation therapy performance. The system supports both offline and online adaptive radiation therapy, along with advanced image-guided radiation therapy, enabling clinicians to customize treatments with greater precision and flexibility. This innovation is designed to improve patient outcomes by enhancing treatment accuracy and adaptability.

In June 2024, AstraZeneca plc, a UK-based pharmaceutical and biotechnology company, acquired Fusion Pharmaceuticals for an undisclosed amount. Through this acquisition, AstraZeneca aims to expand its oncology portfolio by incorporating Fusion’s radioconjugate technology, strengthening the development of targeted cancer therapies such as FPI-2265 for metastatic castration-resistant prostate cancer. This move supports the advancement of precision oncology and reduces reliance on conventional treatment approaches. Fusion Pharmaceuticals is a Canada-based clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines.

Major companies operating in the radiation oncology market are Hitachi Ltd., Siemens Healthineers, Philips Healthcare, GE Healthcare Technologies Inc., Varian Medical Systems, Shimadzu Corporation, Elekta AB, Mirion Technologies, Ion Beam Applications (IBA), Accuray Incorporated, Canon Medical Systems, Eckert & Ziegler BEBIG, ViewRay Inc., MDS Nordion, Mevion Medical Systems, PTW-Freiburg, Toshiba Medical Systems, CivaTech Oncology, ProTom International, Radcal Corporation, ScandiDos.

North America was the largest region in the radiation oncology market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the radiation oncology market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the radiation oncology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Tariffs are influencing the radiation oncology market by increasing costs of imported linear accelerators, imaging systems, treatment planning software, and radiation delivery components. Cancer treatment centers in North America and Europe are most affected due to reliance on high-cost imported oncology equipment, while Asia-Pacific faces higher installation and upgrade expenses. These tariffs are raising capital investment requirements and delaying technology upgrades. At the same time, they are encouraging local assembly, regional manufacturing partnerships, and increased investment in domestically produced radiation therapy systems.

The radiation oncology market research report is one of a series of new reports that provides radiation oncology market statistics, including radiation oncology industry global market size, regional shares, competitors with a radiation oncology market share, detailed radiation oncology market segments, market trends and opportunities, and any further data you may need to thrive in the radiation oncology industry. This radiation oncology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Radiation oncology is a specialized medical field that uses high-energy radiation to treat cancer by damaging the deoxyribonucleic acid of malignant cells, thereby inhibiting their growth and spread. This treatment approach employs advanced techniques to deliver precise therapy, focusing on the affected area while minimizing damage to surrounding healthy tissues.

The primary types of radiation oncology include external beam radiation therapy and internal beam radiation therapy. Internal beam radiation therapy, also referred to as brachytherapy, involves placing radioactive material directly within or close to a tumor to provide concentrated and localized radiation. This method is applied in the treatment of various cancers, including prostate, breast, lung, head and neck, colorectal, cervical, gynecological cancers, and others, and is utilized by end users such as hospitals, cancer research institutes, and other healthcare facilities.

The radiation oncology market consists of revenues earned by entities by providing services such as tumor board consultations, radiation oncology equipment maintenance, telemedicine consultations, stereotactic radiosurgery (SRS), and image-guided radiation therapy (IGRT). The market value includes the value of related goods sold by the service provider or included within the service offering. The radiation oncology market also includes sales of radiation therapy equipment, treatment planning software, dosimetry systems, radiation protection products, and medical consumables. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 1-3 business days.