New York, United States , Nov. 11, 2024 (GLOBE NEWSWIRE) — Radiation oncology (radiotherapy/radiotherapy) is a medical specialty that must be incorporated into interdisciplinary cancer treatment plans. A linear accelerator typically emits x-rays with considerable energy (photons). These harmless, non-invasive X-rays are used to treat a variety of cancers. A linear accelerator typically supplies high-energy particles. These painless, non-invasive therapeutic X-rays are used to treat multiple malignancies. A multidisciplinary team of radiation oncologists (specialist physicians), nurses, radiation therapists, and medical physicists evaluate, plan treatment, and assist patients with any potential adverse effects. Radiation oncology employs cutting-edge technology and treatment techniques. Several cancer patients have benefited from recent developments, which have resulted in increased cure rates, fewer side effects, faster recovery periods, and fewer treatments overall.
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Market Dynamics
Rising Adoption of Radiotherapy Drives the Global Market
Radiation therapy is incorporated into immunotherapy, chemotherapy, and surgical procedures. Due to radiotherapy’s broad range of applications, physicians have increasingly adopted it. The article published in Seminars in Radiation Oncology in 2017 estimated that by 2035, low- and middle-income countries will require more than 12,000 additional treatment devices. For instance, China, India, and Brazil will require over 3,800, 1,200, and 400 additional machineries by 2035.
In Asia-Pacific’s developing nations, the adoption rate is increasing significantly. In India, 363 centers offered radiotherapy treatment in 2015 (301 linear accelerators, 247 brachytherapy systems, and 228 Cobalt 60 units); in 2019, there will be 545 teletherapy devices (180 telecobalt units and 365 medical accelerators). Recent advancements in radiation therapy allow considerable doses to be delivered to the target region without endangering adjacent healthy tissues. This has increased the likelihood of localized tumor control and enhanced cure rates, increasing the demand for radiation therapy.
Technological Advancements in Radiotherapy Creates Tremendous Opportunities
Radiation therapy has experienced numerous technological advancements over the years. Image-Guided Radiation Therapy (IGRT), Intensity-Modified Radiation Therapy (IMRT), Volumetric-Modulated Arc Therapy (VMAT), Stereotactic Body Radiotherapy (SBRT), proton therapy, and Stereotactic Radiosurgery (SRS) are significantly preferred to conventional radiotherapy. Computer advancements have enabled quicker, smarter, and more capable treatment planning, continuous imaging guidance, more precise dosing, and administration of higher doses. This has led to increased efficacy and diminished adverse effects.
Additionally, the advent of stereotactic radiation therapy has assisted in overcoming difficulties caused by patient movement, such as during respiration. Stereotactic radiotherapy has expanded to include the treatment of malignancies for which it was not originally indicated, such as lung cancer, for which stereotactic ablative radiation therapy is effective.
Regional Analysis
North America is the most significant global radiation oncology market shareholder and is anticipated to exhibit a CAGR of 7.2% during the forecast period. The market for radiation oncology in North America is envisaged to be driven by the rising incidence of cancer, the aging population, rising healthcare costs, and government funding. In addition, the presence of organizations such as the American Society for Radiation Oncology (ASTRO), the world’s biggest radiation oncology society with more than 10,000 members, including radiation therapists, biologists, nurses, physicians, and other healthcare professionals, is expected to propel market growth even further. In addition, it encourages the use of radiation oncology and supports ongoing cancer research and the development of new radiation-based treatment methods. Favorable regulatory policies and rising pharmaceutical company investments are also anticipated to accelerate market expansion. Governments in North American nations are concentrating on increasing the production of medical isotopes, creating opportunities for nuclear medicine manufacturers to expand their distribution networks.
Europe is estimated to exhibit a CAGR of 7.4% over the forecast period. Europe is a significant revenue contributor to the global radiation oncology market. The presence of advanced technology, a well-established research infrastructure, and increased government initiatives are significant contributors to the expansion of regional markets. For instance, in June 2017, the European government invested 250 million GBP to construct two NHS centers offering proton beam therapy at the Christie Hospital in Manchester. In addition, rising cancer patient awareness of radiation oncology treatment will boost the market. For instance, Gustave Roussy, the preeminent European Cancer Center, provides an integrated approach to patient care, education, and research to provide patients with the highest quality chemotherapy and radiation therapy.
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Key Highlights
- The global radiation oncology market size was valued at USD 10.21 billion in 2024 and is projected to reach USD 28.07 billion by 2033, growing at a CAGR of 11.90% during the forecast period (2025-2033).
- Based on type, the global radiation oncology market is bifurcated into external beam radiation therapy and internal beam radiation therapy. The external beam radiation therapy (Intensity-Modulated Radiation Therapy (IMRT)) segment is the largest contributor to the market and is estimated to exhibit a CAGR of 5.2% over the forecast period.
- Based on technology, the global radiation oncology market is divided into external beam radiation therapy and brachytherapy. The external beam radiation therapy (head and neck cancer) segment owns the highest market share and is estimated to exhibit a CAGR of 6.6% during the forecast period.
- North America is the most significant global radiation oncology market shareholder and is anticipated to exhibit a CAGR of 7.2% during the forecast period.
Competitive Players
- Varian Medical Systems Inc.
- IBA Radiopharma Solutions
- Elekta AB
- Accuray Incorporated
- BD
- Isoray Medical
- Nordion Inc.
- Mevion Medical Systems Inc.
- NTP Radioisotopes SOC Ltd.
- Curium Pharma
- View ray Technologies Inc.
Recent Developments
- January 2023– The FDA permitted P-Cure to market its Adaptive Proton Therapy Solution in the United States. P-Cure, an Israel-based high-tech medical company, created a cost-effective proton therapy technology for the targeted treatment of cancer with substantially reduced side effects.
- June 2023– Radformation, a leading innovator in radiation oncology automation solutions, announced that St George’s Cancer Care Centre in Christchurch, New Zealand, is the first Elekta Unity MR-Linac site in the world to implement ClearCalc, Radformation’s independent secondary dose calculation software. This innovative integration represents a significant advancement in precision medicine and reaffirms the center’s dedication to providing exceptional patient-centered radiation therapy.
Segmentation
- By Type
- External Beam Radiation Therapy
- Electron-Emitting High-Energy Linear Accelerators (LINAC)
- Compact Advanced Radiotherapy Systems
- Proton Beam Therapy Systems
- Internal Beam Radiation Therapy
- Brachytherapy
- Systemic Beam Radiation Therapy
- Others
- External Beam Radiation Therapy
- By Technology
- External Beam Radiation Therapy
- Image-Guided Radiation Therapy (IGRT)
- Intensity-Modulated Radiation Therapy (IMRT)
- Stereotactic Radiotherapy
- Proton beam radiotherapy
- 3D-CRT
- VMAT
- Brachytherapy
- Low-Dose Brachytherapy
- High-Dose Brachytherapy
- External Beam Radiation Therapy
- By Applications
- External Beam Radiation Therapy
- Prostate
- Lung
- Breast
- Head and Neck
- Colorectal Cancers
- Internal Beam Radiation Therapy
- Breast
- Penile
- Prostate
- Cervical
- Gynecologic Cancers
- External Beam Radiation Therapy
- By Region
- North America
- Asia Pacific
- Europe
- Middle East And Africa
- Latin America
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