Radiation Therapy in the Oncology Market Size Worth USD 15.43 Billion by 2034 | CAGR: 7.8%

The global Radiation therapy in the oncology market size is expected to reach USD 15.43 billion by 2034, according to a new study by Polaris Market Research. The report “Radiation Therapy in the Oncology Market Size, Share, Trends, Industry Analysis Report: By Radiation Type (External Beam Radiation and Internal Beam Radiation), Therapy, End-User, and Region– Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Radiation therapy in the oncology market encompasses the utilization of high-energy ionizing radiation to treat and manage cancer. This therapeutic modality involves precisely delivering radiation to malignant tumors, aiming to eradicate cancerous cells or impede their growth while minimizing damage to surrounding healthy tissues and organs. Various radiation sources and delivery techniques are employed, including external beam radiation therapy (EBRT) using linear accelerators, internal radiation therapy (brachytherapy) involving the placement of radioactive sources within the body, and systemic radiation therapy using radioactive substances that circulate throughout the body. The radiation oncology field integrates sophisticated imaging, treatment planning software, and specialized medical expertise to optimize treatment outcomes for cancer patients across diverse tumor types and stages.

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The market is a critical segment within the broader radiation oncology landscape, driven by the increasing global incidence of cancer and continuous advancements in radiation delivery technologies. The market overview reveals a dynamic environment influenced by factors such as the growing adoption of personalized medicine, which tailors radiation treatments to individual patient and tumor characteristics. Technological innovations, including intensity-modulated radiation therapy (IMRT), image-guided radiation therapy (IGRT), proton therapy, and magnetic resonance-guided radiation therapy (MRgRT), are enhancing treatment precision and efficacy, thereby fueling market development. Furthermore, the expanding healthcare infrastructure in emerging economies and the rising demand for minimally invasive cancer treatment options contribute significantly to the overall market growth and market potential of radiation therapy in oncology.

Radiation Therapy in the Oncology Market Report Highlights:

• By radiation type, the external beam radiation segment currently holds the highest market share globally due to its broad applicability across a wide range of cancer types and the widespread availability of treatment centers equipped with this technology. Its non-invasive nature and established clinical protocols contribute to its dominant position in the radiation therapy market.
• By therapy, intensity-modulated radiation therapy (IMRT) presently commands the largest market share. This is primarily because of its advanced capability to precisely conform the radiation dose to the tumor's shape while modulating the beam's intensity, leading to widespread adoption across various cancer treatments and its proven efficacy in improving local control.
• By end-user, the hospitals & medical research institutes segment currently accounts for the largest market share. This is mainly due to the comprehensive cancer care services offered by hospitals, where radiation therapy is a fundamental treatment modality, along with the significant patient volumes they handle and the research activities undertaken by medical research institutes.
• By region, North America currently holds the largest market share in the radiation therapy in the oncology market. The Asia Pacific region is anticipated to exhibit the highest growth rate in the radiation therapy in the oncology market over the forecast period.
• The major players actively involved in the radiation therapy in the oncology market, who have not been acquired, include Accuray Incorporated, Elekta AB, Mevion Medical Systems, Siemens Healthineers (which includes Varian Medical Systems), IBA Worldwide, ViewRay Technologies Inc, Perspective Therapeutics Inc (formerly Isoray Inc), Hitachi Ltd (part of Hitachi High-Tech Corporation), Sumitomo Heavy Industries Ltd, and Carl Zeiss Meditec AG (a subsidiary of Carl Zeiss AG).

Polaris Market Research has segmented the Radiation Therapy in the Oncology market report based on radiation type, therapy, end-user, and region:

By Radiation Type Outlook (Revenue – USD Billion, 2020–2034)

• External Beam Radiation
• Internal Beam Radiation

By Therapy Outlook (Revenue – USD Billion, 2020–2034)

• Stereotactic Radiosurgery (SRS)
• Image-Guided Radiation Therapy (IGRT)
• Intensity-Modulated Radiation Therapy (IMRT)
• Volumetric-Modulated Arc Therapy (VMAT)
• Brachytherapy

By End-User Outlook (Revenue – USD Billion, 2020–2034)

• Hospitals & Medical Research Institutes
• Specialized Radiotherapy Centers

By Regional Outlook (Revenue – USD Billion, 2020–2034)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America