The global radiati ononcology market size is expected
to reach USD 10.1 billion by 2025, according to a new report by Grand View
Research, Inc. It is projected to witness a CAGR of 6.5% over the forecast
period. Rising prevalence of cancer is the primary factor responsible for
substantial growth of the market for radiation oncology.
Technological advancements resulted in
increased adoption of radiation oncology as primary cancer treatment.
Development of compact advanced radiotherapy options such as CyberKnife, Gamma
Knife, and tomotherapy are expected to complement 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 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.
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Research Report on Radiation Oncology Market:
Further key findings from the study suggest:
·
In 2016, external beam radiation therapy
(EBRT) inclusive of compact advanced radiation therapy, proton therapy, and
linear accelerator (LINAC), held a lucrative share by product
·
Brachytherapy is likely to gain maximum
share over the coming years owing to extensive usage for the treatment of
prostate and breast cancer
·
EBRT applications for treatment of
prostate, breast, lung, colorectal, head, and neck cancer dominated the market
in 2016 by way of application
·
Image guided radiation therapy (IGRT)
contributed to around 13.0% share in 2016 on the basis of technology. In this
method, overall objective is to minimize the exposure to the healthy
surrounding tissue
·
3D-CRT technology is anticipated to witness
a lucrative CAGR over the forecast period
·
North America held maximum share in global
radiation oncology market in 2016. Developed health infrastructure, presence of
many multinational players, and high per capita health infrastructure are the
key regional growth drivers
·
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 market players
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category by Grand View Research at
Grand View Research has segmented the global radiation oncology market
by product, application, technology, and region:
Radiation Oncology Product Outlook (Revenue, USD Million, 2014 - 2025)
·
External Beam Radiation Therapy
o Electron-Emitting High-Energy Linear Accelerators (Linac)
o Compact Advanced Radiotherapy Systems
o Cyberknife
o Gamma Knife
o Tomotherapy
o Proton Therapy
o Cyclotron
o Synchrotron
·
Brachytherapy
o Seeds
o Applicators and Afterloaders
o Electronic Brachytherapy
·
Systemic Beam Radiation Therapy
·
Others
Radiation Oncology Application Outlook (Revenue, USD Million, 2014 -
2025)
·
External Beam Radiation Therapy
o Prostate Cancer
o Breast Cancer
o Lung Cancer
o Head and Neck Cancer
o Colorectal Cancer
o Others
·
Internal Beam Radiation Therapy
o Prostate Cancer
o Gynecological Cancer
o Breast Cancer
o Cervical Cancer
o Penile Cancer
o Others
Radiation Oncology Technology Outlook (Volume, Units; Revenue, USD
Million, 2014 - 2025)
·
External Beam Radiation Therapy
o Image-Guided Radiotherapy (IGRT)
o Intensity Modulated Radiotherapy (IMRT)
o Stereotactic Technology
o Proton Beam Therapy
o 3D Conformal Radiotherapy (3D CRT)
o Volumetric Modulated Arc Therapy (VMAT)
·
Brachytherapy
o Low-Dose Rate Brachytherapy
o High-Dose Rate Brachytherapy
·
Systemic Beam Radiation Therapy
·
Others
Radiation Oncology Regional Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o U.S.
o Canada
·
Europe
o Germany
o U.K.
·
Asia Pacific
o China
o Japan
·
Latin America
o Mexico
o Brazil
·
Middle East & Africa
o South Africa
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research report by Grand View Research:
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,
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