Press release
Radiation Therapy in the Oncology Market on Track to Hit USD 15.43 Billion by 2034 with 7.8% CAGR
Radiation Therapy in the Oncology Market
The radiation therapy in the oncology market report by Polaris Market Research offers an in-depth assessment of the rapidly evolving sector. It covers all the key market aspects, including market share, size, trends, and recent developments. In addition, an assessment of the key regions, top segments, and competitive landscape has been provided.
The report analyzes the market for radiation therapy in oncology to register a CAGR of 7.8% during 2025-2034. The market was valued at USD 7.30 billion in 2024 and is projected to grow to USD 15.43 billion by 2034.
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Market Introduction
Radiation therapy in oncology is a treatment modality that uses high-energy radiation to destroy or damage cancer cells. The goal is to target cancerous tissues with precision while sparing as much of the surrounding healthy tissue as possible. Radiation therapy works by damaging the DNA within cancer cells, which prevents them from growing and dividing. Radiation therapy can be delivered externally through machines or internally via radioactive materials placed close to or inside the tumor. It may be used alone or in combination with other treatments like surgery, chemotherapy, or immunotherapy.
Market Dynamics
• Increasing Global Cancer Incidence: The growing global incidence of cancer is a major radiation therapy in the oncology market driver. This rise in cancer prevalence directly correlates with an increased need for effective treatment modalities. Radiation therapy plays a key role in managing a wide range of cancers. Thus, as cancer cases continue to rise globally, the need for radiation therapy and radiation dose management is expected to witness substantial growth in the coming years.
• Technological Advancements Enhancing Treatment Efficacy: Technological advancements like image-guided radiation therapy (IGRT) and intensity-modulated radiation therapy (IMRT) allow for more precise radiation delivery to tumors. In addition, the development and increasing adoption of proton therapy provide enhanced precision for specific cancer types. Along with improving efficacy, these advancements broaden the applicability of radiation therapy across different cancer stages and locations.
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Market Key Players
The competitive landscape of the market is characterized by continuous technological innovation and strategic collaborations. Companies are focused on developing more precise and efficient radiation therapy solutions. A few of the leading market participants are:
• Accuray Incorporated
• Carl Zeiss Meditec AG (a subsidiary of Carl Zeiss AG)
• Elekta AB
• Hitachi Ltd (part of Hitachi High-Tech Corporation)
• IBA Worldwide
• Mevion Medical Systems
• Perspective Therapeutics Inc (formerly Isoray Inc)
• Siemens Healthineers (which includes Varian Medical Systems)
• Sumitomo Heavy Industries Ltd
• ViewRay Technologies Inc
Market Segmentation
Polaris Market Research has segmented the Radiation Therapy in the Oncology market report based on radiation type, therapy, and end-user:
By Radiation Type Outlook
• External Beam Radiation
• Internal Beam Radiation
By Therapy Outlook
• Stereotactic Radiosurgery (SRS)
• Image-Guided Radiation Therapy (IGRT)
• Intensity-Modulated Radiation Therapy (IMRT)
• Volumetric-Modulated Arc Therapy (VMAT)
• Brachytherapy
By End-User Outlook
• Hospitals & Medical Research Institutes
• Specialized Radiotherapy Centers
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Regional Assessment
North America holds the largest share of the global radiation therapy in the oncology market. The regional market dominance is fueled by the growing prevalence of cancer and the presence of advanced healthcare infrastructure. In addition, the presence of favorable reimbursement policies for advanced radiation therapy procedures contributes to the region's leading market position.
Asia Pacific is projected to exhibit the highest growth rate from 2025 to 2034. The rapid market development in the region is attributed to several factors, including increasing cancer incidence and rising healthcare expenditure. Growing medical tourism and increasing awareness of advanced cancer treatment options are further fueling market development in the region.
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Rise in prevalence…
