Global Radiation Oncology Market: Industry Analysis, Opportunity Assessment and Forecast

The latest industry research report on Radiation Oncology Market by MRC provides a thorough analysis of the global Radiation Oncology Market. The report scrutinizes the market by different segments including regions, applications, competitive landscape, etc. over the predicted time frame. This report provides 360 Degree perspective of the Radiation Oncology industry with an all-inclusive discussion of definitions, classifications, and market players in the industry chain structure. It features qualitative and quantitative analysis of the industry taking into consideration the significant development factors, competition in the market, and important reasons impacting the market growth.

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key players in the global radiation oncology market: Accuray, C. R. Bard, Elekta, IBA Worldwide, and Varian Medical Systems.

Other Prominent Vendors in the market are: Carl Zeiss Meditec, iCAD, IsoRay, Mevion Medical Systems, Nordion, NTP Radioisotopes, and Toshiba Medical Systems.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is strategic collaborations and M&A. Strategic M&A and collaborations are becoming common in the global radiation oncology market. Key vendors are pursuing M&A to strengthen their market positions and expand their product portfolios. Many vendors are also collaborating with other vendors to expand their market presence.”

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According to the report, one driver in the market is increasing incidence of cancer. The incidence of cancers such as lung, breast, prostate, colorectal, and stomach is increasing. In 2012, the global incidence of cancer was approximately two million for billion people. In 2015, the global mortality from cancer was approximately 1,200 for million people. Lung cancer is the most common cancer across the world. In 2012, the global incidence of lung cancer was approximately 250,000 for billion people. Breast cancer is the second most common cancer across the world. In 2012, the global incidence of breast cancer was approximately 240,000 for billion people.

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Further, the report states that one challenge in the market is lack of access to radiotherapy. There is a lack of access to radiotherapy due to shortage in investments. Low healthcare expenditure, shortage of equipment, and shortage of trained staff and facilities have resulted in the low adoption of radiation equipment. There is a global shortage of radiotherapy services, with more than 90% of all cancer patients in low-income countries lacking access to radiotherapy. Most installed LINACs are in high-income countries. The global standard for cancer care requires that one radiation megavoltage machine for an average of 150,000 people living in the region. However, many countries in Africa have no radiotherapy equipment.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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