The radiation oncology market is expected to observe immense opportunities across the assessment period of 2020-2030.
The radiation oncology market is expected to observe immense opportunities across the assessment period of 2020-2030. Cancer cases are increasing at a rapid rate around the world. The growing prevalence of cancer has led to tremendous treatments and advancements. Radiation oncology is one of them. Thus, these aspects are helping in increasing the growth rate of the radiation oncology market.
Radiation oncology is a therapy that helps in stopping the growth of cancer cells. If the cancer cells multiply in large numbers, it can even result in fatalities. The radiation oncology technique uses ionizing radiation to kill or control the malignant growth of cancer cells.
Based on type, the radiation oncology market can be segmented into proton therapy, external beam radiation therapy (cyberknife, tomotherapy, gamma knife, linear accelerators, compact advanced radiotherapy systems), synchrotron, internal beam radiation therapy (electronic brachytherapy, systematic beam radiation therapy, seeds, brachytherapy, applicators, afterloaders, others), and cyclotron.
The utilization of radiation oncology therapy in various types of cancer such as prostate cancer, lung cancer, breast cancer, colorectal cancer, cervical cancer, gynecological cancer, head and neck cancer, and others will bring good growth opportunities through the forecast period of 2020-2030.
The TMR research team has intensive experience in developing reports for a large number of markets and sectors. The TMR research team has used the rich experience they have in researching the current developments in the radiation oncology market. The team members have conducted extensive research on every aspect associated with the radiation oncology market.
The L.E.A.P mechanism used by the team assures a detailed and well-researched report to the stakeholders and CXOs. The effect of the COVID-19 pandemic on the radiation oncology market has also been covered by the team and included in the report.
Radiation Oncology Market: Competitive Insights
The major players in the radiation oncology market are adopting numerous strategies for increasing their revenues and attracting a considerable consumer base. The players in the radiation oncology market invest in research and development activities for discovering novel insights. The players also indulge in collaborations for cementing their position in the radiation oncology market. Investments by various firms and companies in the radiation oncology market will further bring good growth prospects.
Some well-established players in the radiation oncology market are;
- Curium Pharma
- Varian Medical Systems, Inc.
- Viewray Technologies
- Isoray Medical
- Ion Beam Applications
- NTP Radioisotopes SOC Ltd
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Radiation Oncology Market: Key Trends
Escalating Cancer Cases to Increase the Growth Rate of the Radiation Oncology Market
The World Health Organization (WHO) states that cancer is the second leading death cause across the globe. Cancer contributes to nearly 9.6 mn deaths worldwide every year. These statistics highlight the growing prevalence of cancer and related deaths. To control cancer cases and deaths, radiation oncology is a popular option. Thus, all these factors bode well for the growth of the radiation oncology market.
Major Developments across the Radiation Oncology Market
Some of the crucial developments that will help in boosting the growth prospects of the radiation oncology market are as follows:
- Canon Medical Systems and RaySearch Laboratories AB have expanded their partnership to bring their integrated radiation oncology portfolio to more customers
- Google Cloud recently collaborated with Varian Medical Systems for its radiation oncology platform
Radiation Oncology Market: Regional Dimensions
North Americas radiation oncology market will dominate the regional arena between 2020 and 2030 on the back of the rising healthcare expenditure and growing focus on research and development activities for cancer-related therapies. The radiation oncology market in Asia Pacific will also expand at a rapid rate due to the increasing cases of cancer.
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