Bost the growth of the global radiation oncology market at a CAGR of 8.0% during the forecast period 2024 to 2032

Market Research Future (MRFR) has published on the “Global Radiation Oncologys Market”.

The Global Radiation Oncology Market is estimated to register a CAGR of 8.0% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the Global Radiation Oncology Market — Varian Medical Systems, Inc. (US), Elekta (Sweden), Accuracy Incorporated. (US), IBA Radiopharma Solutions (Belgium), BD (US), Mevion Medical Systems (US), Nordion (Canada), NTP Radioisotopes Soc Ltd. (South Africa), Curium (France), Reflexion (US)

Radiation Oncology Market Highlights

The global radiation oncology market is expected to register a CAGR of 8.0% during the forecast period and is estimated to reach USD 16.51 billion by 2032.

The Global Radiation Oncology market is emerging due to the increasing incidences of cancer across the globe and rising adoption of combination therapies involving radiation oncology alongside surgery and chemotherapy. Cancer is one of the leading causes of death globally, and the incidence of cancer is expected to continue rising in the coming years. This rise can be attributed to several factors such as an aging population, unhealthy lifestyle choices, environmental factors, and genetic predisposition. For instance, as per the World Health Organization, it was estimated that about 20 million new cancer cases were diagnosed in 2022.

Segment Analysis

The Global Radiation Oncology market has been segmented based on Type, Application, and End User.

Based on the product type, the global radiation oncology market has been bifurcated into External Beam Radiation Therapy and internal Beam Radiation Therapy. External Beam Radiation Therapy is bifurcated into Linear Accelerators (Linac), Cobalt-60 Systems, Particle Therapy Systems, and Proton Beam Therapy Systems. Internal Beam Radiation Therapy is bifurcated into Seeds, Afterloaders, and Intraoperative Radiotherapy Systems. The external beam radiation segment dominated the market. The external beam radiation segment had the largest market share in 2023. It is because of the increasing demand from the healthcare sector and an ever-increasing number of patients diagnosed with cancer, as well as the introduction of new, cutting-edge technologies because of constant R&D efforts by the industry's leading businesses have all contributed to the expansion of the radiation treatment market.

Based on Application, the global radiation oncology market has been bifurcated into Prostate Cancer, Breast Cancer, Lung Cancer, Head and neck Cancer, and Others. Among these segments, ‘Other’ segment has dominated the market in 2023 and had the largest market share. While Breast Cancer segment is the fastest growing segment in the forecasted year (2024-2032). Within the global radiation oncology market, the "Others" category comprises a variety of uncommon malignancies that do not align with specific classifications, such as lung, breast, prostate, or head and neck cancers. Several malignancies fall under this classification, including sarcomas, liver cancer, pancreatic cancer, and esophageal cancer. Although these cancers may have lower incidence rates when considered individually in comparison to more prevalent varieties, they collectively account for a substantial proportion of cancer cases worldwide. There are multiple determinants influencing the expansion of the "Others" cancer sector in the worldwide radiation oncology industry. Developments in diagnostic technologies and cancer research have facilitated initial progress in cancer detection and diagnosis. Breast Cancer is the most prevalent form of cancer among women worldwide, with an annual impact on millions of lives and posing a substantial public health concern.

Based on End Users, the global radiation oncology market has been bifurcated into Hospitals and clinics, Oncology Centers, and Academic and Research Institutes based on the end user. Among these segments, Hospitals & Clinics dominated the market in 2023 and had the largest market share. The substantial expansion of the Hospitals & Clinics sector in the worldwide radiation oncology industry can be attributed to several critical factors. The escalating prevalence of cancer on a global scale has resulted in a heightened need for radiation therapy services, thereby establishing hospitals and clinics as the principal facilities where these treatments are administered. The escalating global mortality rate attributable to cancer is anticipated to generate a surge in demand for radiation oncology services in hospitals and clinics, thus driving the expansion of this industry sector. The robust expansion of the Oncology Centers segment within the global radiation oncology market can be attributed to several segment-specific factors. The academic and research institutes sector of the worldwide radiation oncology industry is undergoing significant expansion, driven by several unique factors that are specific to this sector.

Explore In-depth Market Details [Table of Content, List of Figures, List of Tables] of Radiation Oncology Market Research Report

Regional Analysis

Based on region, the global Radiation Oncology market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest market share in 2023 and is anticipated to reach approximately USD 7.24 billion by 2032 at an 8.2% CAGR during the forecast period. However, Asia-Pacific is projected to grow at the highest CAGR of 8.4% during the forecast period.

The North American radiation oncology market is undergoing substantial expansion, propelled by a number of distinctive factors specific to the region. An important determinant is the rising prevalence of cancer cases throughout North America. Lifestyle modifications and an aging population contribute to an increase in cancer incidence, so the demand for radiation oncology services continues to rise. As healthcare facilities endeavor to accommodate patients in need of radiation therapy, this surge in demand is anticipated to catalyze regional market expansion.

The European radiation oncology market is positioned for substantial expansion, propelled by several distinctive factors that are specific to the region. An important determinant is the rising incidence of malignancy throughout Europe. The escalating prevalence of cancer has generated an expanding need for sophisticated therapeutic modalities, including radiation therapy. It is expected that this increase in demand will stimulate the expansion of the radiation oncology market in the area.

The radiation oncology market in the Asia Pacific region is anticipated to experience substantial expansion, propelled by a multitude of region-specific factors. An important determinant is the rising prevalence of cancer in the Asia-Pacific region. The World Health Organization (WHO) estimates that in 2020 alone, there will be 5.1 million cancer-related fatalities and 9.3 million newly diagnosed cases of cancer in the region. This represents a significant increase in the incidence of cancer. The concerning pattern highlights the urgent requirement for efficacious cancer treatment modalities, such as radiation therapy, thereby propelling the regional demand for radiation oncology services.

Key Findings of the Study

• The Global Radiation Oncology market is expected to reach USD 16.51 billion by 2032, at a CAGR of 8.0% during the forecast period.


• North America had the largest share of the global market.


• Based on type, the external beam radiation therapy segment dominated the market in 2023.


• Varian Medical Systems, Inc. (US), Elekta (Sweden), Accuracy Incorporated. (US), IBA Radiopharma Solutions (Belgium), BD (US), Mevion Medical Systems (US), Nordion (Canada), NTP Radioisotopes Soc Ltd. (South Africa), Curium (France), Reflexion (US) are the key market players.