Radiation Oncology Market Size Worth $11.51 Billion By 2028 | CAGR: 7.1%

The global radiation oncology market size is expected to reach USD 11.51 billion by 2028 according to a new study by Polaris Market Research.

Radiation therapy or radiotherapy is the most important part of cancer treatment and it is used in the treatment of more than 50% of cancer patients. It is a form of treatment used in cancer that employs X-rays, protons, or other forms of energy to kill cancer cells. Radiotherapy is of two types that include EBRT and IBRT.

EBRT is the most commonly used form of radiotherapy. External beam therapy will employ an x-ray or electron beam, and linear accelerator machines are used to generate these beams. It is used in the treatment of various types of cancers such as breast cancer, colorectal cancer, lung cancer, prostate cancer, brain tumor, esophageal cancer, and head and neck cancer. IBRT is also known as brachytherapy, wherein the high dose of radiation will be directly delivered into the cancerous tumor by implanting radioactive materials at the site of the tumor.

Cancer incidence is on the rise across the globe with nearly 20 million cases globally every year. Lung cancer and breast cancer are the common types of cancers. Other major types of cancer include prostate cancer and colorectal cancer. Prostate cancer affected 1.3 million people globally. It is the second common type of cancer in men, and it accounts for 7% of all cancer cases diagnosed in men globally.

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In recent years, various products have been received approval from regulatory authorities and launched in the market. For instance, Elekta Unity was launched by Elekta Korea, in February 2021. The system combines MR-LINAC and magnetic resonance imaging. The system can provide high-quality anatomical images of patients in real-time. ClearRT Helical kVCT imaging developed by Accuray Inc received US regulatory approval, in January 2021.

The imaging system is used in the Radixact treatment delivery system. This imaging system when combined with the Radixact system will provide greater precision and accuracy to view various pathologies during treatment. Various cancer centers across the globe are installing high-end radiation machines.

The COVID-19 pandemic has little impact on the market for radiation oncology, as therapy is an integral part of cancer treatment and hospitals across the globe are treating cancer patients even during the pandemic time, pandemic is expected to have a negligible impact on the oncology market growth over the forecast period.

Market Participants such as Varian Medical Systems, Inc., Accuray Incorporated, Elekta AB, Isoray Medical, Ion Beam Applications (IBA), Mevion Medical Systems, Inc., C.R. BARD, INC. (BD), NTP Radioisotopes SOC Ltd., Nordion Inc., Nordion Inc., and Viewray Technologies, Inc. are some of the key market players operating in the global oncology market.

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Polaris Market Research has segmented the radiation oncology market report on the basis of type, technology, application, and region:

Radiation Oncology, Type Outlook (Revenue - USD Million, 2016 - 2028)

• External Beam Radiation Therapy
o Linear Accelerators
o Compact Advanced Radiotherapy Systems
• Cyberknife
• Gamma Knife
• Tomotherapy
o Proton Therapy
• Cyclotron
• Synchrotron
• Internal Beam Radiation Therapy
o Brachytherapy
• Seeds
• Applicators and Afterloaders
• Electronic Brachytherapy
o Systemic Beam Radiation Therapy
o Others

Radiation Oncology, Technology Outlook (Revenue - USD Million, 2016 - 2028)

• External Beam Radiation Therapy (EBRT)
o Image-GUIDED Radiation Therapy (IGRT)
o Intensity Modulated Radiotherapy (IMRT)
o Stereotactic Technology
o Proton Beam Therapy
o 3D Conformal Radiotherapy (3D-CRT)
o Volumetric Modulated ARC Therapy (VMAT)
• Brachytherapy
o Low Dose Rate (LDR) Brachytherapy
o High Dose Rate (HDR) Brachytherapy

Radiation Oncology, Application Outlook (Revenue - USD Million, 2016 - 2028)

• External Beam Radiation Therapy (EBRT)
o Prostate cancer
o Breast cancer
o Lung cancer
o Head and neck cancer
o Colorectal cancer
o Others
• Internal Beam Radiation Therapy
o Prostate Cancer
o Gynecological Cancer
o Breast Cancer
o Cervical Cancer
o Others

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