Radiation therapy in the oncology market is a treatment method to treat any type of cancer/ tumor with the help of radiation. Radiation therapy uses radiation beams made of photon, proton, heavy-ion, and other particles. These radiation beams of intense energy are used to destroy or shrink the cancer/ tumor cells.
The radiation therapy systems (machines) available in the market are, namely, linear accelerator (LINAC), cyclotrons, synchrotrons, synchrocyclotrons, and conventional and electronic brachytherapy systems.
The radiation therapy in oncology market report highlights that the market was valued at $5,481.8 million in 2020 and is expected to reach $9,206.6 million by the end of 2031. The market is expected to grow at a CAGR of 5.0% during the forecast period from 2021 to 2031.
Market Segmentation
Radiation Therapy Market (by Radiation Type)
Under this segmentation, the radiation therapy market in divided into external beam radiation and internal beam radiation.
The external beam radiation segment dominates the market with a share of 82.8% of global radiation therapy market mainly due to the more treatment processes being conducted by external beam radiation therapy systems.
Internal beam radiation segment is expected to register a higher CAGR then external beam radiation segment, the CAGR is 6.7% during the forecast period.
Radiation Therapy Market (by Product Type)
Under this segmentation, the radiation therapy market in divided into oncology systems, particle therapy systems (proton and heavy-ion), and others.
The oncology systems segment which consists traditional radiation therapy systems (x-ray, gamma, cobalt-60 external beam radiation therapy systems, and internal beam radiation therapy systems, among others) dominates the radiation therapy market with a share of 81.9% of global radiation therapy market mainly due to the number of installed bases of traditional systems and internal beam radiation therapy systems, number of procedures being conducted, and the cost of the systems and the procedure when compared with the proton or heavy-ion radiation therapy systems.
Particle therapy systems (proton and heavy-ion) segment is expected to register a higher CAGR of 7.5% during the forecast period.
Radiation Therapy Market (by Therapy)
Under this segmentation, the radiation therapy market in divided into stereotactic radiosurgery (SRS), brachytherapy, image-guided radiation therapy (IGRT), intensity-modulated radiation therapy (IMRT), and volumetric-modulated arc therapy (VMAT).
The stereotactic radiosurgery (SRS) segment dominates the radiation therapy market with a share of 40% of global market mainly due to the number of procedures being performed by the surgeons and clinicians.
Volumetric-modulated arc therapy segment is expected to register a higher CAGR of 6.8% during the forecast period.
Radiation Therapy Market (by End-User)
Under this segmentation, the radiation therapy market in divided into hospitals and medical research institutes, and specialized radiotherapy centers (SRCs).
The hospitals and medical research institutes segment dominates the radiation therapy market with a share of 84.5% of global market mainly due to the number of hospitals, medical and research institutes providing access to the radiotherapy for the patients.
Specialized radiotherapy centers (SRCs) segment is expected to register a higher CAGR of 6.2% during the forecast period.
Radiation Therapy Market (by Region)
The different regions covered under the radiation therapy in oncology market report includes North America, Europe, Asia-Pacific, and Rest-of-the-World.
North America dominates the radiation therapy market in 2020 and is anticipated to uphold its dominance throughout the forecast period. The growth in the market is majorly driven by the increasing research and development activities and many companies being located in the U.S.
Asia-Pacific market is expected to grow with a higher CAGR of 5.8% during the forecast period.
Key Market Players and Competition Synopsis
Some of the key players operating in the market, include Accuray Inc., Eckert & Ziegler AG, Elekta AB, General Electric Company, Hitachi Ltd., Ion Beam Applications SA, Koninklijke Philips N.V., Mevion Medical Systems Inc., TeamBest Group, Reflexion Medical Inc., Sensus Healthcare Inc., Varian Medical Systems Inc. (Siemens Healthineers AG), Xoft Inc. (iCAD Inc.), Xstrahl Inc., Zap Surgical Systems Inc.
The radiation therapy market market has witnessed several strategic and technological developments in the past four years, undertaken by the different market players to attain their respective market shares in this emerging domain. Some of the strategies covered in this segment are product development and upgradations, partnerships, collaborations, business expansions, funding activities, regulatory approvals, mergers, and acquisitions. The preferred strategy for companies has been partnerships, collaborations, and business expansions.
Key questions answered in the Report
• Which are the consortiums in the radiation therapy market, and what is their role in the market?
• How is the funding scenario in the radiation therapy market?
• What are the major market drivers, challenges, and opportunities in the global radiation therapy in oncology market?
• What is the market trend within the radiation therapy systems industry?
• What was the market value of the leading segments of the global radiation therapy in oncology market in 2020?
• How will the industry evolve during the forecast period 2021-2031?
• What are the key developmental strategies implemented by the key players to sustain in the competitive market?
• What is the current market share of each of the companies in the global radiation therapy in oncology market and what will be their contribution in 2031?
• What is the growth potential of radiation therapy in oncology market in each region, including North America, Europe, Asia-Pacific, and Rest-of-the-World?
• What are the key regulatory implications in developed and developing regions for radiation therapy systems and associated procedures?
Request a Sample- https://bisresearch.com/requestsample?id=1145&type=download
Who should buy this report?
• Radiation Therapy Systems Parts OEMs
• Accelerator Manufacturers
• Radiation Therapy Systems Manufacturers
• Software Developers
• Imaging Modalities (MRI, CT, PET, Ultrasound, among others) Manufactures
BIS Related Studies
The global Radiation Oncology Market is estimated to touch US$ 10.1 Billion by the completion of the year 2025.
The market was appreciated at US$ 5.7 Billion in the year 2016.
Technical progressions in radiotherapy caused in augmented acceptance of radiation oncology by way of main treatment track of cancer.
Progress with respect to compact innovative radiotherapy preferences; for example Tomotherapy, Gama Knife, and Cyber Knife, add to this development.
Furthermore, by way of the help of sympathetic government creativities and alertness, patients are not shy to choose for progressive treatment opportunities.
For example, as per the information of World Bank Group per head expenses on health observed substantial development of over 55.0% between the years of 1995 to 2014.Download Free Sample Report @ https://www.millioninsights.com/industry-reports/radiation-oncology-market/request-sampleThe Radiation Oncology industry on the source of Type of Technology could span Systemic Beam Radiation Therapy, Brachytherapy [High-Dose Rate Brachytherapy, Low-Dose Rate Brachytherapy], External Beam Radiation Therapy [Volumetric Modulated Arc Therapy (VMAT), Proton Beam Therapy, Intensity Modulated Radiotherapy (IMRT), 3D Conformal Radiotherapy (3D CRT), Stereotactic Technology, Image-Guided Radiotherapy (IGRT)], and Others.The Radiation Oncology market on the source of Type of Application could span Internal Beam Radiation Therapy [Penile Cancer, Breast Cancer, Prostate Cancer, Cervical Cancer, Gynecological Cancer, and Others], External Beam Radiation Therapy [Colorectal Cancer, Lung Cancer, Prostate Cancer, Head and Neck Cancer, Breast Cancer, and Others].The Radiation Oncology industry on the source of Type of Product could span Systemic Beam Radiation Therapy, Brachytherapy [Electronic Brachytherapy, See, Applicators and after loaders], External Beam Radiation Therapy [Proton Therapy {Synchrotron, Cyclotron}, Compact Advanced Radiotherapy Systems {Tomotherapy, Cyber Knife, Gamma Knife}, Electron-Emitting High-Energy Linear Accelerators {Linac}].The Radiation Oncology market on the source of Area with respect to Trades in terms of intake, Profits, Market stake and Development percentage could span North America [U.S.A, Canada], Europe [Germany, U.K.], Asia Pacific [Japan, China], Latin America [Brazil, Mexico], Middle East & Africa [South Africa].By the source of geography, North America is the most important area in Radiation Oncology industry.
