Radiation Oncology Market Is Projected To Grow Due To Rising Adoption Of Radiotherapy Till 2025: Grand View Research, Inc.
The global radiation oncology market is expected to reach USD
10.1 billion by 2025, according to a new report by Grand View Research, Inc.
Rising prevalence of cancer is the prime factor responsible for substantial
growth of radiation oncology market over the forecast period.
Technological advancements in
radiotherapy resulted in increased adoption of radiation oncology as primary
treatment line of cancer. Development of compact advanced radiotherapy options
such as CyberKnife, Gamma Knife, and tomotherapy complemented this growth.
These advanced methods pose lesser postoperative complications and faster
recovery time.
Increasing per capita healthcare
expenditure is also an important macroeconomic factor driving the market
growth. In addition, with the aid of supportive government initiatives and
awareness, patients are not hesitant to opt for advanced treatment options. For
instance, per capita health expenditure witnessed exponential growth of more
than 55.0% from 1995 to 2014, as stated by the World Bank Group.
Browse full research report on Radiation Oncology Market: http://www.grandviewresearch.com/industry-analysis/radiation-oncology-market
Further key findings from
the study suggest:
- External Beam Radiation Therapy (EBRT) inclusive of
compact advanced radiation therapy, proton therapy, and Linear Accelerator
(LINAC), held lucrative share in the product segment of radiation oncology
market in 2016.
- Brachytherapy is likely to gain maximum share over
the next eight years. Extensive usage of brachytherapy for the treatment
of prostate and breast cancer is anticipated to govern the growth.
- EBRT applications inclusive of prostate treatment,
breast, lung, colorectal, head, and neck cancer dominated application
segment.
- Image Guided Radiation Therapy (IGRT) contributed to
technology with around 13.0% share in 2016. In this method, overall
objective is to minimize the exposure to the healthy surrounding tissue.
- 3-D CRT technology is anticipated to grow at a
lucrative growth rate over the next 8 years. In this technique, radiation
beams form the shape at the specific site of cancer.
- North America held maximum share in global radiation
oncology market in 2016. Developed health infrastructure, presence of many
multinational players, and greater per capita health infrastructure are
the key factors contributing to the dominance of this region over the
forecast period.
- However, uncertain health reforms post the U.S.
presidential election of 2016 coupled with shortage in supply of
radiopharmaceuticals is likely to hinder the growth in this region.
- Varian Medical Systems, Elekta AB, Accuray
Incorporated, Ion Beam Applications SA, C.R. Bard, Inc., IsoRay, Inc.,
Mevion Medical Systems, Nordion (Canada) Inc., NTP, and Mallinckrodt
Public Limited Company are some of the key players operating in radiation
oncology market.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented
the radiation oncology market by product, application, technology, and region:
Radiation Oncology Product Outlook
(Revenue, USD Million; 2014 - 2025)
- External Beam Radiation Therapy
- Electron-Emitting High-Energy Linear Accelerators
(Linac)
- Compact Advanced Radiotherapy Systems
- Cyberknife
- Gamma Knife
- Tomotherapy
- Proton Therapy
- Cyclotron
- Synchrotron
- Brachytherapy
- Seeds
- Applicators and Afterloaders
- Electronic Brachytherapy
- Systemic Beam Radiation Therapy
- Others
Radiation Oncology Application
Outlook (Revenue, USD Million; 2014 - 2025)
- 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
- Breast Cancer
- Cervical Cancer
- Penile Cancer
- Others
Radiation Oncology Technology
Outlook (Revenue, USD Million; 2014 - 2025)
- 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
- Systemic Beam Radiation Therapy
- Others
Radiation Oncology Regional
Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia Pacific
- China
- Japan
- Latin America
- Mexico
- Brazil
- MEA
- South Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
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