Global Radiation Oncology Market Report 2023: Demand for Advanced Cancer Treatment Options Fuels Growth

Global Radiation Oncology Market

Dublin, June 06, 2023 (GLOBE NEWSWIRE) -- The "Global Radiation Oncology Market Report and Forecast 2023-2031" report has been added to ResearchAndMarkets.com's offering.The global radiation oncology market was valued at USD 7.7 billion in 2022, driven by the increasing technological advancements in radiation therapy devices, across the globe. The market size is anticipated to grow at a CAGR of 7.1% during the forecast period of 2023-2031 to achieve a value of USD 14.3 billion by 2031. IntroductionRadiation oncology, also known as radiation therapy, is a crucial component of cancer treatment that utilizes high-energy radiation to destroy cancer cells and shrink tumors. It is employed in various cancer types and can be delivered externally or internally, depending on the specific treatment approach.Key Trends in the Radiation Oncology MarketSome key trends involved in the radiation oncology market are as follows:

Technological Advancements: Radiation oncology is witnessing significant advancements in technology, leading to more precise and targeted treatments. Techniques such as intensity-modulated radiation therapy (IMRT), stereotactic body radiation therapy (SBRT), and proton therapy are increasingly being used to deliver radiation more precisely to the tumor while minimizing damage to surrounding healthy tissues. These advancements enhance treatment outcomes and reduce side effects

Personalized Treatment: The field of radiation oncology is moving towards personalized treatment approaches, where treatment plans are tailored to individual patients based on their specific tumor characteristics, overall health, and genetic factors. This allows for more precise and effective treatment delivery while minimizing the impact on healthy tissues

Integration of Imaging and Treatment Planning: Advanced imaging technologies, such as magnetic resonance imaging (MRI), positron emission tomography (PET), and computed tomography (CT), are being integrated into radiation oncology workflows. These imaging modalities provide detailed information about tumor characteristics, enabling more accurate treatment planning and targeting

Radiation Oncology Market Segmentations Market Breakup by Type External Beam Radiation Therapy

Linear Accelerators (Linac)

Compact advanced radiotherapy systems

Cyberknife

Gamma Knife

Tomotherapy

Proton Therapy

Cyclotron

Synchrotron

Internal Beam Radiation Therapy

Brachytherapy

Seeds

Applicators and After loaders

Electronic Brachytherapy

Systemic Beam Radiation Therapy

Others

Market Breakup by Technology External Beam Radiation Therapy

Image-Guided Radiotherapy (IGRT)

Intensity Modulated Radiotherapy (IMRT)

Stereotactic Technology

Proton Beam Therapy

3D Conformal Radiotherapy (3D CRT)

Volumetric Modulated Arc Therapy (VMAT)

Brachytherapy

Low-Dose Rate Brachytherapy

High-Dose Rate Brachytherapy

Market Breakup by Applications External Beam Radiation Therapy

Prostate Cancer

Breast Cancer

Lung Cancer

Head and Neck Cancer

Colorectal Cancer

Others

Internal Beam Radiation Therapy

Prostate Cancer

Gynecological Cancer

Cervical Cancer

Breast Cancer

Penile Cancer

Others

Market Breakup by Region North America

United States of America

Canada

Europe

United Kingdom

Germany

France

Italy

Others

Asia Pacific

China

Japan

India

ASEAN

Australia

Others

Latin America

Brazil

Argentina

Mexico

Others

Middle East and Africa

Saudi Arabia

United Arab Emirates

Nigeria

South Africa

Others

Radiation Oncology Market ScenarioThe global market for radiation oncology, or radiation therapy, is experiencing steady growth due to the increasing prevalence of cancer worldwide and the rising demand for effective cancer treatment options. Radiation oncology plays a crucial role in cancer care, offering a non-invasive and targeted approach to destroy cancer cells while minimizing damage to healthy tissues.The market is driven by several factors, including technological advancements in radiation therapy devices, growing awareness and adoption of early cancer detection and treatment, and the increasing burden of cancer-related diseases. Additionally, the rising geriatric population and the subsequent increase in cancer cases among the elderly are contributing to the market growth.The market is driven by a combination of factors, including the demand for advanced cancer treatment options, the need for improved patient outcomes, and the growing focus on personalized medicine. Additionally, increasing investments in research and development activities, collaborations between industry players and research institutions, and government initiatives to enhance cancer care infrastructure are driving the market growth.Overall, the radiation oncology market is anticipated to witness significant growth in the coming years. Advancements in technology, increasing cancer cases, and a growing focus on personalized medicine are expected to drive the market forward. However, challenges such as the high cost of radiation therapy and reimbursement issues in certain regions may hinder market growth to some extent.Radiation Oncology Market: Competitor LandscapeThe key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

Accuray Incorporated

Elekta AB

Isoray Medical

Mevion Medical Systems

BD

ICAD,Inc

Isoray, Inc

Optivus Proton Therapy, Inc

P-Cure

Sensus Healthcare

Key Attributes:

Report Attribute

Details

No. of Pages

147

Forecast Period

2023 - 2031

Estimated Market Value (USD) in 2023

$8.2 Billion

Forecasted Market Value (USD) by 2031

$14.3 Billion

Compound Annual Growth Rate

7.1%

Regions Covered

Global

Key Topics Covered: 1 Preface 2 Executive Summary 3 Cancer Overview 4 Patient Profile 5 Cancer Epidemiology Analysis 6 Global Radiation Oncology Market Overview 7 Global Radiation Oncology Market Landscape 8 Radiation Oncology Challenges and Unmet Needs 9 Cost of Treatment 10 Global Radiation Oncology Market Dynamics 11 Global Radiation Oncology Market Segmentation 12 North America Radiation Oncology Market

13 Europe Radiation Oncology Market 14 Asia Pacific Radiation Oncology Market 15 Latin America Radiation Oncology Market 16 Middle East and Africa Radiation Oncology Market 17 Patent Analysis 18 Grants Analysis 19 Clinical Trials Analysis 20 Funding Analysis 21 Partnership and Collaborations Analysis 22 Regulatory Framework 23 Supplier Landscape 24 Global Radiation Oncology Market - Distribution Model (Additional Insight)24.1 Overview 24.2 Potential Distributors 24.3 Key Parameters for Distribution Partner Assessment 25 Key Opinion Leaders (KOL) Insights (Additional Insight) 26 Company Competitiveness Analysis (Additional Insight) 27 Payment Methods (Additional Insight)For more information about this report visit https://www.researchandmarkets.com/r/v0pfax

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Global Radiation Oncology Market