Radiation Oncology Market Size Worth $11.7 Billion By 2028 | CAGR 7.0%: Grand View Research, Inc.
SAN FRANCISCO, April 19, 2021 /PRNewswire/ -- The global radiation oncology market size is expected to reach USD 11.7 billion by 2028, registering a CAGR of 7.0% over the forecast period, according to a new report by Grand View Research, Inc. The rising incidence of cancer and technological advancement in radiation therapy equipment are some of the major factors driving the growth of the market.
Key suggestions from the report:
- Due to the high availability of External Beam Radiation Therapy (EBRT) equipment and penetration of innovative diagnostic instruments and understanding of available treatment options, EBRT dominated the market in 2020
- In IBRT application, the prostate cancer segment dominated the market in 2020, majorly due to the promising applications for brachytherapy in the treatment of prostate cancer
- In 2020, North America dominated the market and accounted for a revenue share of more than 44.0%. Favorable reimbursement policies, quality of healthcare infrastructure, and the presence of key players in the region are some of the factors driving the market in the region
Read 130 page research report with ToC on "Radiation Oncology Market Size, Share & Trends Analysis Report By Type (External Beam Radiation Therapy, Internal Beam Radiation Therapy), By Application, By Technology, By Region, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/radiation-oncology-market
There have been various technological advancements in radiotherapy equipment over the last decade, which has been a major factor for growth. Advancement from 2D to 3D conformal radiotherapy, motion tracking, and real-time imaging has helped improve radiation targeting and thereby reduce exposure to the surrounding healthy tissues. For instance, Accuray Incorporated introduced its motion monitoring and correction tools, Synchrony, for the Radixact device in April 2019. In contrast to traditional radiotherapy devices, this technology increases dosage accuracy and treatment times and is comparatively more effective.