According to Nova One Advisor, the global radiation oncology market size is calculated at USD 11.15 billion in 2024, grows to USD 12.42 billion in 2025, and is projected to reach around USD 32.82 billion by 2034, growing at a CAGR of 11.4% from 2025 to 2034.
The radiation oncology market is expanding as radiation therapy is a keystone of cancer care, and it is applied with therapeutic, adjuvant, or palliative intent. This therapy uses various types of cancer, such as prostate, breast, head, cervix and neck, brain, and lung, as well as malignancies.
RT as the sole therapy is applied in the treatment of localized cancer, like early-stage cancer of the prostate or larynx, non-melanoma skin cancer, and radiosensitive tumor types, such as seminoma and lymphomas. It is extremely effective in supervisory pain and bleeding, as well as the symptoms resulting from compression of the spinal cord, nerves, or airways.
Radiation Oncology Market Highlights:
🔹North America dominated the radiation oncology market with a revenue share in 2024.
🔹Asia Pacific is expected to grow at the fastest CAGR in the market during the forecast period.
🔹By type, the external beam radiation therapy segment led the market with the largest revenue share in 2024.
🔹By type, the linear accelerator (Linac) segment is expected to grow at the fastest CAGR in the market during the forecast period.
🔹By technology, the Intensity modulated radiotherapy (IMRT) segment held the largest market share in 2024.
🔹By technology, the 3D conformal radiotherapy (3D CRT) segment is expected to grow at the fastest CAGR in the market during the forecast period.
🔹By application, the external beam radiation therapy (EBRT) segment held the highest market share in 2024.
🔹By application, the Internal beam radiation therapy (IBRT) segment is expected to grow at the fastest CAGR in the market during the forecast period.
Market Overview and Industry Potential
Radiation oncology is a healthcare specialty that uses high-energy radiation, like X-rays, to destroy cancer cells and shrink tumours. Every radiation oncologist has specific training in performing radiation treatment for patients with cancer and those with certain noncancerous health conditions.
⬥︎ For Instance, In April 2025, Sun Nuclear, a Mirion Medical company, announced the acquisition of Oncospace, a company offering cloud-based, AI-driven solutions for the radiation oncology community. This strategic move underscores the Sun Nuclear commitment to leveraging cutting-edge technology to improve treatment outcomes on behalf of customers.
FLASH radiotherapy (RT) is a method that includes the delivery of ultra-high dose rate radiation to the specific target area. This therapy reduces radiation-induced toxicity in healthy tissues instead of compromising the anti-cancer properties of treatment as compared to conventional radiation therapy. This therapy has been shown to increase the survival rate due to the oxygen enhancement ratio (OER) outcome, by depleting them of oxygen. It holds great promise for enhancing the balance between cancer control and normal tissue sparing in cancer management. Continuous research is essential to entirely explicate its mechanisms, improve its healthcare application, and reduce potential adverse effects.
Investments in Radiation Oncology in 2025
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Companies |
Descriptions |
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Leo Cancer Care |
Leo Cancer Care raises $40M for radiotherapy treatment systems. The company makes upright radiation therapy systems using a fixed beam with slow patient rotation instead of a gantry |
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AiRato |
AiRato is a startup focused on improving outcomes and streamlining operations in cancer radiation therapy through AI technology. |
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GT Medical Technologies |
The company has completed the close of its oversubscribed $53 million Series D equity financing. |
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BrachyDOSE |
Medtech startup BrachyDOSE has raised €554,000 to test its radiation measurement technology in a clinical environment. |
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Everhope Oncology |
The novel initiative has secured $10 million in seed funding to establish state-of-the-art medical and surgical cancer care facilities in Delhi and Mumbai. |
Latest Trends of the Market
⬥︎ In July 2025, the Ministry of External Affairs (MEA), Government of India, launched a Specialised Training Program in Cancer Care for BIMSTEC countries at the Tata Memorial Centre (TMC), Mumbai. The program involves specialized modules in Radiation Oncology, Radiology, and Nuclear Medicine, providing hands-on training, interactive sessions, clinical observerships, and mentorship from TMC’s expert faculty.
⬥︎ In March 2025, the Union Health Ministry plans to set up cancer daycare centres in all district hospitals. Each centre will offer counseling services, chemotherapy, and medicines, with four to six beds. Each facility will have an oncologist or trained medical officer, two nurses, a pharmacist, a counsellor, and a multi-purpose worker.
Recently Emerging Stereotactic Radiosurgery (SRS) and Stereotactic Body Radiotherapy: Market’s Largest Potential
Recently developed stereotactic radiosurgery (SRS) and stereotactic body radiotherapy (SBRT) revolutionized the management of extracranial and intracranial lesions by delivering high-dose, extremely conformal radiation with submillimeter accuracy. These non-invasive modalities provide efficient management for a wide range of health conditions, including benign brain tumors, brain metastases, functional disorders, vascular malformations, and spinal lesions.
It utilizes numerous, joining beams of high-energy x-rays, protons, or gamma rays, delivered to a discrete, radiographically clear therapy target volume. Stereotactic radiosurgery (SRS) is a highly effective form of radiation therapy originally developed to manage minor brain tumors and functional aberrations of the brain.
⬥︎ For Instance, In July 2025, RaySearch Laboratories AB (publ) announced that AKSM/Oncology has selected RayCare oncology information system and RayStation treatment planning system for Advanced Radiation Therapeutics (ART), a new partnership with Urology Associates of The Central Coast in San Luis Obispo in California, USA. The center is expected to open in March 2026 and will offer patients inclusive treatment using different techniques. The novel center will use RayStation and RayCare together with its Varian TrueBeam linear accelerators.
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Report Scope of Radiation Oncology Market
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Report Coverage |
Details |
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Market Size in 2025 |
USD 12.42 Billion |
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Market Size by 2034 |
USD 32.82 Billion |
|
Growth Rate From 2025 to 2034 |
CAGR of 11.4% |
|
Base Year |
2024 |
|
Forecast Period |
2025-2034 |
|
Segments Covered |
Type, Technology, Application, Region |
|
Market Analysis (Terms Used) |
Value (US$ Million/Billion) or (Volume/Units) |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Key Companies Profiled |
Varian Medical Systems, Inc.; Elekta AB; Accuray Incorporated; IBA Radiopharma Solutions; BD; Isoray Medical; Mevion Medical Systems, Inc.; Nordion Inc.; NTP Radioisotopes SOC Ltd.; Curium Pharma; Viewray Technologies, Inc. |
Radiation Oncology Market Segmentation Analysis:
By Type Analysis:
The external beam radiation therapy segment dominates in the Radiation Oncology Market, as this type of therapy is used to manage cancer. It is the most common form of radiation therapy used to kill cancer cells and slow down tumor growth. Its non-invasive technique that efficiently treats cancer in different body parts and is used with other treatments like chemotherapy or surgery. It enables targeted treatment while lowering damage to healthy tissues. It uses computer-driven technology to deliver specific and customised radiation doses to the cancer.
On the other hand, the linear accelerator (Linac) segment is expected to grow significantly during the forecast period, as it enhances the accuracy and effectiveness of radiation therapy. The biological effects of a broad range of radiation doses and dose rates remain an intense area of examination. Major use of linear accelerators facilitates this research using clinically appropriate doses and dose rates. It is significant to take all necessary precautions to guarantee the person’s safety when utilising this therapy. It is a therapy that aims radiation at cancer tumors with pinpoint accuracy, parsimonious associated healthy tissue.
By Technology Analysis:
The intensity modulated radiotherapy (IMRT) segment dominated the market in 2024, as IMRT's high conventionality with dose enables escalation of dose and improved protection of usual tissue structures. IMRT allows the radiation dose to conform accurately to the three-dimensional (3-D) shape of the cancer by moderating or controlling the intensity of the radiation beam in manifold small volumes. It allows higher radiation doses to be focused on the particular cancer while reducing the dose to nearby normal critical structures. It supports lowering the dose to normal tissue, although delivering a higher dose to the tissues with gross or microscopic disease.
On the other hand, the 3D conformal radiotherapy (3D CRT) segment is expected to grow at the fastest CAGR in the market during the forecast period, as it has the most significant advantage it helps the patient’s radiation oncology team target cancerous tumors while restraining radiation damage to healthy tissue. 3D-CRT, radiation oncology professionals use scans to get a 3D view of malignant tumors and healthy tissue. This radiation is delivered in discrete beams that target a tumor from various directions. Three-dimensional conformal radiation therapy (3D-CRT) is a hopeful novel treatment technique based on the principle that enhanced precision.
By Application Analysis:
The external beam radiation therapy (EBRT) segment dominated the market in 2024, as this therapy is highly effective at managing various types of cancers. For instance, breast-preserving surgery followed by entire breast radiation therapy is the chosen treatment for early breast cancer. It does not need any incisions, lowering the challenges of infection and recovery time. EBRT provides precise targeting of superficial cancer, reducing damage to non-cancerous tissues and improving patient safety. Shorter treatment sessions make EBRT an appropriate option for patients with busy schedules, enabling them to continue their daily activities.
On the other hand, the internal beam radiation therapy (IBRT) segment is expected to grow at the fastest CAGR in the market during the forecast period, as it uses a higher total dose of radiation to manage a smaller area than external beam radiation therapy (EBRT), which delivers high-energy X-ray beams to a tumor from outside the body. In this therapy, professionals place radioactive sources inside the patient to destroy cancer cells and shrink the cancer.
By Regional Insight
North America dominated the radiation oncology market in 2024, due to a strong infrastructure, high rate of cancer incidence in this region, and substantial investment in oncology research and development. Also, strong presence of advanced technology and prominent companies that conduct cancer research increases the demand for radiation therapy, which contributes to the growth of the market.
⬥︎ For Instance, In September 2025, Accuray Incorporated announced that the company is advancing its legacy of leadership in adaptive radiotherapy with the introduction of the Accuray Stellar Solution. Initially for the U.S. market, the novel Accuray technology is not just a system; it's a solution, comprised of a comprehensive tool set designed to empower clinical teams to address the evolving treatment needs of patients undergoing radiotherapy.
In the United States, increasing radiation oncology residency programs are highly effective to aware people for managing and treating complex types of cancer. Growing high unmet patient requirements, an increase in aging patients, and advancements in new technology. More than 3 million radiation therapy survivors are alive in America recently, and the number grow to 4 million in the forecast period.
⬥︎ For Instance, In September 2025, at the American Society for Radiation Oncology (ASTRO) 2025 Annual Meeting, Royal Philips, a worldwide leader in health technology, will present groundbreaking additions in radiation oncology: the Philips Rembra RT and Philips Areta RT CT platforms, and the latest helium-free BlueSeal RT 1.5T MR system.
Why is Asia Pacific the Fastest Growing in the Radiation Oncology Market?
APAC is the fastest-growing region in the market, as the increasing burden of cancer, escalating healthcare infrastructure, and significant spending in modern healthcare technologies. Growing governments and private oncology research institutes in rapidly developing countries, like China and India, are profoundly investing in enhancing access to advanced cancer treatments, which drives the growth of the market.
Radiation Oncology Market Companies:
• Varian Medical Systems, Inc.
• Accuray Incorporated
• IBA Radiopharma Solutions
• BD (Becton, Dickinson and Company)
• Isoray Inc.
• Mevion Medical Systems
• Nordion, Inc.
• NTP Radioisotopes SOC Ltd.
• Curium
• ViewRay Technologies, Inc.
What is Going Around the Globe?
🔹In March 2025, Jazz Pharmaceuticals plc and Chimerix announced that the companies had entered into a definitive agreement for Jazz to acquire Chimerix for $8.55 per share in cash, representing a total consideration of approximately $935 million.
🔹In September 2025, The Mark Foundation for Cancer Research (MFCR) and the Samuel Waxman Cancer Research Foundation (SWCRF) announced a merger to create the Samuel Waxman Institute for Aging & Cancer, the first institute in the world devoted exclusively to studying how aging biology influences cancer risk, according to the press release.
🔹In June 2025, the IAEA and UK social enterprise MedAccess launched a new partnership under the Rays of Hope: Cancer Care for All initiative. This collaboration will focus on advancing innovative financing solutions to improve access to affordable, high-quality radiation medicine services in low- and middle-income countries.
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Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2034. For this study, Nova one advisor, Inc. has segmented the global radiation oncology market
By Type
• External Beam Radiation Therapy
o Linear Accelerators (Linac)
o Compact advanced radiotherapy systems
o Cyberknife
o Gamma Knife
o Tomotherapy
o Proton Therapy
o Cyclotron
o Synchrotron
• Internal Beam Radiation Therapy
o Brachytherapy
o Seeds
o Applicators and After loaders
o Electronic Brachytherapy
o Systemic Beam Radiation Therapy
o Others
By Technology
• 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
By Application
• 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 Cervical Cancer
o Breast Cancer
o Penile Cancer
o Others
By Regional
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
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