Radiation Oncology Market Size Worth $11.7 Billion By 2028 | CAGR

7.0%: Grand View Research, Inc. - Seite 2

Strategies such as partnerships, innovative product launches, and acquisitions are the priority of major players in the industry. For instance, in February 2020, Varian received FDA 510K clearance for its Ethos Therapy. It is an AI-driven solution designed to deliver an entire adaptive treatment plan in 15 minutes, including patient set-up to treatment delivery. In December 2019, Elekta signed a non-binding MoU with ViewRay, Inc. for the advancement of the knowledge and application of MR-LINACs.

According to an article published in Seminars in Radiation Oncology in 2017, it is expected that in low- and middle-income countries alone, more than 12,000 additional treatment machines will be needed by 2035. Besides, by 2035, it is projected that China, India, and Brazil will need over 3,800, 1,200, and 400 additional equipment, respectively. Companies are taking several initiatives to meet this demand. For instance, in 2019, Tata Trust signed a 3-year agreement with Varian Medical Systems Inc. for the installation of new advanced radiotherapy equipment in India, to improve patient access to treatment.

However, the lack of skilled radiotherapy professionals is expected to be a major restraining factor for the growth of the market, particularly in developing countries. The recommended number of radiation oncologists in the developed world is around 4 per million population. There are around 0.8 radiation oncologists per million population in India. Similar is the situation in other countries in the Indian sub-continent.

Grand View Research has segmented the global radiation oncology market on the basis of type, technology, application, and region:

• Radiation Oncology Type Outlook (Revenue, USD Million, 2017 - 2028)
• EBRT
• Linear Accelerators (Linacs)
• Compact Advanced Radiotherapy Systems
• Cyberknife
• Gamma Knife
• Tomotherapy
• Proton Therapy
• Cyclotron
• Synchrotron
• Internal Beam Radiation Therapy
• Brachytherapy
• Seeds
• Applicators and Afterloaders
• Electronic Brachytherapy
• Systemic Beam Radiation Therapy
• Others
• Radiation Oncology Technology Outlook (Revenue, USD Million, 2017 - 2028)
• EBRT
• Image-Guided Radiotherapy (IGRT)
• Intensity Modulated Radiotherapy (IMRT)
• Stereotactic Technology
• Proton Beam Therapy
• 3D Conformal Radiotherapy (3D CRT)
• Volumetric Modulated Arc Therapy (VMAT)
• Brachytherapy
• Low-Dose Rate Brachytherapy
• High-Dose Rate Brachytherapy
• Radiation Oncology Application Outlook (Revenue, USD Million, 2017 - 2028)
• EBRT
• Prostate Cancer
• Breast Cancer
• Lung Cancer
• Head and Neck Cancer
• Colorectal Cancer
• Others
• Internal Beam Radiation Therapy
• Prostate Cancer
• Gynecological Cancer
• Breast Cancer
• Cervical Cancer
• Penile Cancer
• Others
• Radiation Oncology Regional Outlook (Revenue, USD Million, 2017 - 2028)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Spain
• Italy
• Russia
• France
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Singapore
• Latin America
• Mexico
• Brazil
• Argentina
• MEA
• South Africa
• Saudi Arabia
• UAE

List of Key Players of Radiation Oncology Market