Radiation Oncology Market Report 2025 (Global Edition)

Global Radiation Oncology Market Report 2025 Market Size Split by Type (External Beam Radiation Therapy, Internal Beam Radiation Therapy), by Application (Breast Cancer, Prostate Cancer, Head and Neck...

Radiation Oncology Market Report Description

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Radiation Oncology Market Insights Video

Competitive Landscape of the Radiation Oncology Market

The competitive landscape of the radiation oncology market is characterized by a dynamic and rapidly evolving environment driven by continuous technological advancements and innovation. Key players in the market are focused on developing and enhancing sophisticated radiation therapy systems, such as advanced linear accelerators, proton therapy systems, and brachytherapy devices, to meet the increasing demand for precise and effective cancer treatments. Companies are also investing in research and development to integrate cutting-edge technologies like artificial intelligence and image-guided radiation therapy, which improve treatment accuracy and patient outcomes.

In October 2023, Accuray Incorporated achieved a key milestone by receiving approval from the Chinese National Medical Products Administration (NMPA) for their Tomo® C radiation therapy system. The company's strategic move underscores its commitment to extending its market presence and meeting the growing demand for disruptive radiation oncology solutions in China. (Source: https://investors.accuray.com/news-releases/news-release-details/accuray-announces-approval-tomor-c-radiation-treatment-delivery?mobile=1) In May 2023, Elekta AB announced the acquisition of Philips Healthcare's Pinnacle Treatment Planning System (TPS) patent portfolio. This strategic initiative strengthens Elekta's position in treatment planning and demonstrates the company's commitment to being the innovation leader in radiation therapies. (Source: https://ir.elekta.com/investors/press-releases/2024/elekta-further-strengthens-its-elekta-one-software-suite-with-acquisition-of-philips-treatment-planning-patent-portfolio/) In February 2023, RefleXion Medical, a therapeutic oncology company, received the first marketing clearance from the US FDA for its SCINTIX™ biology-guided radiation, a modern therapy for early and late-stage tumors. SCINTIX is the first and only radiotherapy that enables each cancer's unique biology to autonomously choose where and how much radiation to deliver, second by second, throughout treatment. The SCINTIX biologic modality detects tumor motion from all sources, including predicted motion from internal processes like breathing and digesting, as well as unexpected movement by a patient. (Source: https://reflexion.com/press-releases/reflexion-receives-fda-clearance-for-scintix-biology-guided-radiotherapy-cutting-edge-treatment-applicable-for-early-and-late-stage-cancers/) In April 2022, Elekta AB and GE Healthcare signed a global commercial collaboration agreement in radiation oncology. This partnership will empower hospitals to provide a comprehensive range of imaging treatments for cancer patients undergoing radiotherapy, enhancing their ability to deliver high-quality care. Both companies aim to address the significant demand for radiation solutions in both established and developing markets as hospitals seek more flexible and interoperable simulation and guided systems. (Source: https://ir.elekta.com/investors/press-releases/2022/elekta-and-ge-healthcare-collaborate-to-expand-access-to-precision-radiation-therapy-solutions/)

Top Companies Market Share in Radiation Oncology Industry: (In no particular order of Rank)

• Varian Medical Systems
• Inc.
• Elekta AB
• Accuray Incorporated
• IBA Radiopharma Solutions
• BD (Becton
• Dickinson & Company)
• IsoRay Medical
• Inc.
• Mevion Medical Systems
• Nordion
• Inc.
• NTP Radioisotopes SOC Ltd
• Curium SAS
• ViewRay Technologies
• Inc.
• Confidential Data
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• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Radiation Oncology Market

Which Region Dominates the Radiation Oncology Market in 2024?

According to Cognitive Market Research, North America currently dominates the global radiation oncology market. The region benefits from well-established healthcare services, advanced medical technology, and significant investments in cancer research and treatment facilities. High prevalence rates of cancer and a strong focus on early diagnosis and effective treatment contribute to the high demand for radiation oncology services. Moreover, North America is home to numerous leading technology providers and research institutions, driving continuous innovation and the adoption of state-of-the-art radiation therapy technologies.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific stands out as the fastest-growing region in the radiation oncology market with the highest CAGR. This rapid growth is driven by several factors, including a rising incidence of cancer due to changing lifestyles and aging populations, increasing healthcare investments, and the expansion of healthcare infrastructure. The growing focus on improving cancer care and access to advanced treatment technologies also contributes to its dynamic regional market growth. Besides, the presence of emerging economies with improving healthcare systems and the adoption of advanced radiation therapy solutions further accelerate the market's expansion in Asia Pacific.

The current report Scope analyzes Radiation Oncology Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Radiation Oncology Market

According to Cognitive Market Research, the global radiation oncology market size was estimated at USD 9425.2 million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 3770.1 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.4% from 2024 to 2031.

• According to Cognitive Market Research, the U.S. had a major share in the radiation oncology market with a market size of USD 2974.6 million in 2024 and is projected to grow at a CAGR of 11.2% in the forecast period. Government initiatives and funding for cancer treatment, combined with the presence of key industry players, ensure that the U.S. continues to lead in radiation oncology advancements and market share.
• The Canada radiation oncology market had a market share of USD 452.4 million in 2024 and is projected to grow at a CAGR of 12.2% during the forecast period. The country has been investing in modernizing its radiation therapy systems, including the adoption of cutting-edge technologies like image-guided radiation therapy (IGRT) and proton therapy.
• The Mexico radiation oncology market is projected to witness growth at a CAGR of 11.9% during the forecast period, with a market size of USD 343.1 million in 2024.

Europe Radiation Oncology Market

According to Cognitive Market Research, the global radiation oncology market size was estimated at USD 9425.2 million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 2827.6 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.7% from 2024 to 2031.

• The United Kingdom radiation oncology market had a market share of USD 475 million in 2024 and is projected to grow at a CAGR of 12.5% during the forecast period. In the U.K., radiation oncology sales witness an upswing due to rising cancer prevalence, government investments in healthcare facilities, and the adoption of advanced radiotherapy technologies.
• The France radiation oncology market is projected to witness growth at a CAGR of 10.9% during the forecast period, with a market size of USD 260.1 million in 2024.
• According to Cognitive Market Research, the German radiation oncology market size was valued at USD 559.9 million in 2024 and is projected to grow at a CAGR of 11.9% during the forecast period. In Germany, the radiation oncology market surged due to strong healthcare centers, continuous advancements in radiation therapy techniques, and significant government support for cancer treatment and research initiatives.
• The Italy radiation oncology market is projected to witness growth at a CAGR of 11.1% during the forecast period, with a market size of USD 243.2 million in 2024.
• The Russia radiation oncology market is projected to witness growth at a CAGR of 10.7% during the forecast period, with a market size of USD 438.3 million in 2024.
• The Spain radiation oncology market is projected to witness growth at a CAGR of 10.8% during the forecast period, with a market size of USD 231.9 million in 2024.
• The Luxembourg radiation oncology market is projected to witness growth at a CAGR of 11.8% during the forecast period, with a market size of USD 87.7 million in 2024.
• The Portugal radiation oncology market is projected to witness growth at a CAGR of 11.5% during the forecast period, with a market size of USD 59.4 million in 2024.
• The Greece radiation oncology market is projected to witness growth at a CAGR of 12% during the forecast period, with a market size of USD 33.9 million in 2024.
• The Rest of Europe's radiation oncology market is projected to witness growth at a CAGR of 10.4% during the forecast period, with a market size of USD 438.3 million in 2024.

Asia Pacific Radiation Oncology Market

According to Cognitive Market Research, the global radiation oncology market size was estimated at USD 9425.2 million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 2167.8 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.2% from 2024 to 2031.

• According to Cognitive Market Research, the China radiation oncology market size was valued at USD 975.5 million in 2024 and is projected to grow at a CAGR of 14.7% during the forecast period. The radiation oncology sector surged in China due to rising cancer incidence, increased healthcare spending, and expanding access to advanced radiation therapy technologies.
• The Japan radiation oncology market is projected to witness growth at a CAGR of 13.7% during the forecast period, with a market size of USD 299.2 million in 2024.
• The India radiation oncology market had a market share of USD 260.1 million in 2024 and is projected to grow at a CAGR of 17% during the forecast period. The increased focus on improving cancer treatment accessibility and affordability, coupled with government initiatives and private sector contributions, has fueled the growth of radiation oncology services in India.
• The South Korean radiation oncology market is projected to witness growth at a CAGR of 14.3% during the forecast period, with a market size of USD 216.8 million in 2024.
• The Australian radiation oncology market is projected to witness growth at a CAGR of 14.9% during the forecast period, with a market size of USD 112.7 million in 2024.
• The Southeast Asia radiation oncology market is projected to witness growth at a CAGR of 16.2% during the forecast period, with a market size of USD 149.6 million in 2024.
• The Rest of Asia Pacific radiation oncology market is projected to witness growth at a CAGR of 15% during the forecast period, with a market size of USD 153.9 million in 2024.

South America Radiation Oncology Market

According to Cognitive Market Research, the global radiation oncology market size was estimated at USD 9425.2 million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 471.3 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.6% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil radiation oncology market size was valued at USD 201.7 million in 2024 and is projected to grow at a CAGR of 13.2% during the forecast period. The radiation oncology market flourished in Brazil due to a growing cancer incidence, increased investments in healthcare infrastructure, and the expansion of access to advanced radiation therapy technologies.
• Argentina's radiation oncology market had a market share of USD 79.2 million in 2024 and is projected to grow at a CAGR of 13.5% during the forecast period. The rising awareness of early cancer detection and the increasing adoption of radiation therapy as a standard treatment modality also play crucial roles in advancing the radiation oncology sector in Argentina.
• Colombia radiation oncology market is projected to witness growth at a CAGR of 12.4% during the forecast period, with a market size of USD 41.9 million in 2024.
• Peru radiation oncology market is projected to witness growth at a CAGR of 12.8% during the forecast period, with a market size of USD 38.6 million in 2024.
• Chile radiation oncology market is projected to witness growth at a CAGR of 12.9% during the forecast period, with a market size of USD 33.9 million in 2024.
• The Rest of Latin America's radiation oncology market is projected to witness growth at a CAGR of 11.7% in the forecast period, with a market size of USD 75.9 million in 2024.

Middle East Radiation Oncology Market

According to Cognitive Market Research, the global radiation oncology market size was estimated at USD 9425.2 million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 188.5 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.9% from 2024 to 2031.

• The GCC countries radiation oncology market is projected to witness growth at a CAGR of 13.7% during the forecast period, with a market size of USD 80.7 million in 2024. In the GCC countries, the radiation oncology market is expanding, owing to the increasing cancer incidence and the development of specialized cancer treatment centers, alongside a growing focus on enhancing healthcare infrastructure and access.
• The Egypt radiation oncology market is projected to witness growth at a CAGR of 13.2% during the forecast period, with a market size of USD 19.8 million in 2024.
• The South Africa radiation oncology market is projected to witness growth at a CAGR of 13.9% during the forecast period, with a market size of USD 29.8 million in 2024. Radiation oncology sales increased in South Africa due to the rising prevalence of cancer and the expansion of specialized cancer care facilities, coupled with increased awareness and improved access to comprehensive oncology services.
• The Turkey radiation oncology market is projected to witness growth at a CAGR of 12.4% during the forecast period, with a market size of USD 16.2 million in 2024.
• The Nigeria radiation oncology market is projected to witness growth at a CAGR of 12% during the forecast period, with a market size of USD 19.8 million in 2024.
• The Rest of the MEA radiation oncology market is projected to witness growth at a CAGR of 11.9% during the forecast period, with a market size of USD 22.2 million in 2024.

Radiation Oncology Market Analysis

Radiation Oncology Market Type Segment Analysis

According to Cognitive Market Research, external beam radiation therapy (EBRT) is the most widely used type of radiation therapy in cancer treatment, making it the dominant category in the radiation oncology market. In EBRT, high-energy radiation is delivered to the tumor from outside the body using machines like linear accelerators. It is highly effective for treating various types of cancer, including breast, lung, prostate, and head & neck cancers. Advances in imaging and treatment planning, such as image-guided radiation therapy (IGRT) and intensity-modulated radiation therapy (IMRT), have further boosted its adoption. These technologies enable higher precision in radiation delivery, improving patient outcomes and reducing side effects.

Internal beam radiation therapy (IBRT), commonly referred to as brachytherapy, is the fastest-growing segment in the radiation oncology market. This type of radiation therapy involves placing radioactive sources directly inside or near the tumor, delivering high doses of radiation to a specific area. Brachytherapy is frequently used to treat cancers such as prostate, cervical, breast, and skin cancers. Its growth is driven by its ability to offer precise tumor targeting with minimal exposure to surrounding tissues, reducing potential side effects compared to external therapies. Moreover, the shorter treatment times and reduced number of hospital visits required for brachytherapy are appealing to both patients and healthcare providers, contributing to its rapid adoption and growing popularity in the global market.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Radiation Oncology Industry. Request a Free Sample PDF!

Radiation Oncology Market Application Segment Analysis

According to Cognitive Market Research, prostate cancer is emerging as the fastest-growing segment within the radiation oncology market. The rising global incidence of prostate cancer, particularly in aging male populations, is driving demand for radiation therapy as a primary or adjunctive treatment. Both external beam radiation therapy (EBRT) and internal beam radiation therapy (brachytherapy) are widely used for treating localized prostate cancer. Recent technological advancements, including proton therapy and advanced imaging techniques like real-time MRI-guided radiotherapy, have enhanced the precision and effectiveness of radiation treatments for prostate cancer.

Lung cancer represents the leading application category in the radiation oncology market due to its high global incidence and mortality rates. Radiation therapy plays a crucial role in treating both non-small cell lung cancer (NSCLC) and small cell lung cancer (SCLC), either as a standalone treatment or in combination with surgery and chemotherapy. External beam radiation therapy (EBRT) is commonly used to target lung tumors, especially in patients who are not surgical candidates. Advances in precision radiation techniques, such as stereotactic body radiation therapy (SBRT) and image-guided radiation therapy (IGRT), have significantly improved the accuracy and effectiveness of lung cancer treatments, reducing damage to surrounding tissues like the lungs and heart.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Anushka Gore

Research Associate at Cognitive Market Research

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Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.

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