The global radiation oncology market is expected to reach USD 10.1
billion by 2025, according to a new report by Grand View Research, Inc. Rising
prevalence of cancer is the prime factor responsible for substantial growth of
radiation oncology market over the forecast period.
Technological advancements in radiotherapy resulted in increased adoption
of radiation oncology as primary treatment line of cancer. Development of
compact advanced radiotherapy options such as CyberKnife, Gamma Knife, and
tomotherapy complemented 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 the 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.
In depth research report on Radiation
Detection, Monitoring And Safety Market
Further key findings from the study suggest:
·
External Beam
Radiation Therapy (EBRT) inclusive of compact advanced radiation therapy,
proton therapy, and Linear Accelerator (LINAC), held lucrative share in the
product segment of radiation oncology market in 2016.
·
Brachytherapy
is likely to gain maximum share over the next eight years. Extensive usage of
brachytherapy for the treatment of prostate and breast cancer is anticipated to
govern the growth.
·
EBRT
applications inclusive of prostate treatment, breast, lung, colorectal, head,
and neck cancer dominated application segment.
·
Image Guided Radiation
Therapy (IGRT) contributed to technology with around 13.0% share in 2016. In
this method, overall objective is to minimize the exposure to the healthy
surrounding tissue.
·
3-D CRT
technology is anticipated to grow at a lucrative growth rate over the next 8
years. In this technique, radiation beams form the shape at the specific site
of cancer.
·
North America
held maximum share in global radiation oncology market in 2016. Developed
health infrastructure, presence of many multinational players, and greater per
capita health infrastructure are the key factors contributing to the dominance
of this region over the forecast period.
·
However,
uncertain health reforms post the U.S. presidential election of 2016 coupled
with shortage in supply of radiopharmaceuticals is likely to hinder the growth
in this region.
·
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 players operating in
radiation oncology market.
Grand View Research has segmented the 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
§
Cyberknife
§
Gamma Knife
§
Tomotherapy
o
Proton Therapy
§
Cyclotron
§
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
(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
UK
·
Asia Pacific
o
China
o
Japan
·
Latin America
o
Mexico
o
Brazil
·
MEA
o
South Africa
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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, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more market analysis reports, please
visit: http://www.grandviewresearch.com/
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