Global Radiation Oncology Market Envisioned to Generate a Revenue of $15,231.2 Million and Grow at a CAGR of 7.8% over the Estimated Timeframe 2022 to 2030 [260-Pages] | Affirmed by Research Dive

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The global radiation oncology market is predicted to experience progressive growth by 2030, owing to the increasing prevalence of cancer among individuals all across the globe. Regionally, the North America region is expected to be dominant.

NEW YORK, Aug. 22, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Radiation Oncology Market by Type (External Beam Radiation Therapy and Internal Beam Radiation Therapy), Application (Prostate Cancer, Breast Cancer, Lung Cancer, Head & Neck Cancer, Colorectal Cancer, Cervical Cancer, Gynaecological Cancer, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2030."

According to the report, the global radiation oncology market is anticipated to garner a revenue of $15,231.2 million and rise at a CAGR of 7.8% over the analysis period from 2022 to 2030.

Dynamics of the Radiation Oncology Market

With the increasing number of people suffering from cancer due to sedentary lifestyles, improper diet, lack of physical activity, and many more, the global radiation oncology market is predicted to witness remarkable growth during the forecast period. Moreover, the increasing trend of radiation therapy for treating cancer is predicted to boost the growth of the market over the analysis timeframe. However, the scarcity of trained professionals in radiation oncology may impede the growth of the market throughout the estimated period.

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Covid-19 Impact on the Radiation Oncology Market

The rise of the novel coronavirus has badly impacted the radiation oncology market, likewise several other industries. The spontaneous spread of the deadly virus has decreased the number of patients at the cancer center, changed the clinical practice, and impacted the training and personnel availability of staff at the cancer department. Moreover, the disruption in the supply chain caused due to the stringent government regulations has interrupted the release of products for cancer treatment. All these factors have declined the growth of the market during the pandemic period.

Segments of the Radiation Oncology Market

The report has divided the market into segments including type, application, and region.

• By type, the external beam radiation therapy sub-segment is predicted to hold the largest share of the market and is expected to garner a revenue of $11,638.2 million during the analysis period. The increasing adoption of external beam radiation therapy for better accuracy in destroying abnormal cells and reducing pain is expected to augment the growth of the market sub-segment during the forecast period.
• By application, the breast cancer sub-segment is expected to be most productive and is projected to generate a revenue of $3,552.4 million over the estimated timeframe. The rising prevalence of breast cancer due to obesity, aging, and many more, is predicted to fortify the growth of the market sub-segment during the analysis period.
• By region, the North America region of the radiation oncology market is predicted to hold the maximum share of the market and is expected to grow at a CAGR of 7.1% throughout the forecast period. The increasing incidences of breast cancer among individuals in this region is the major factor expected to drive the regional growth of the market over the analysis period.

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Key Players of the Radiation Oncology Market

The major players of the radiation oncology market include

1. Nordion (Canada) Inc.
2. IBA Worldwide
3. BD
4. Mevion Medical Systems
5. Isoray Inc.
6. Accuray Incorporated
7. Provision Healthcare
8. Elekta AB
9. Panacea Medical Technologies Pvt. Ltd.
10. Varian Medical Systems, Inc.

These players are mainly working on the development of new business strategies and tactics such as product development, mergers, and acquisitions, partnerships, and collaborations to procure a leading position in the global industry.

For instance, in April 2022, Elekta, a leading precision radiation therapy solutions providing company, announced its collaboration with GE Healthcare, a renowned manufacturer and distributor of diagnostic imaging agents and radiopharmaceuticals. With this collaboration, the companies aimed to offer hospitals equipped with flexible imaging and interoperable simulation and guidance technology for cancer patients requiring radiation therapy across developed and developing markets. 

In addition, the report also presents other crucial aspects including product portfolio, the financial performance of the key players, SWOT analysis, and the latest strategic development.

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More about Radiation Oncology Market:

• 5 Crucial Pros and Cons of Radiation Oncology That One Should Know About
• Is Chemotherapy and Radiation Oncology Different?
• What is Radiation Oncology? Insights on its Types, Side Effects, Covid-19 Impact, and Future Scope
• Global Radiation Oncology Market to Observe Extensive Growth with Growing Improvements in Radiation Oncology Treatments

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About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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