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Radiation Therapy in Oncology Market Trends – Commercialization of proton

VANCOUVER, BRITISH COLUMBIA, CANADA, May 22, 2023 /EINPresswire.com/ -- The global radiation therapy in oncology market size is expected to reach USD 8.86 Billion at a revenue CAGR of 5.08% in 2030, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to increasing prevalence of cancer and increasing adoption of radiation therapy procedures in hospitals, clinics, and other medical centers.

Estimates from the World Health Organization (WHO) indicate that approximately 10 million deaths occurred globally due to cancer in 2020, with lung cancer accounting for over 1.5 million deaths. Rising incidence rate is expected to increase adoption of radiation therapy procedures in medical sector globally and support market revenue growth.

Radiation methods of cancer therapy are non-invasive, have a faster recovery time, decreased chance of post-surgery infections, and shorter period of hospitalization. Also, radiation therapy in oncology, especially internal radiation therapy, is considered advantageous owing to use of localized radiation dose. This enables reduced radiation exposure to nearby tissues, and in turn, effectively lessens chances of second malignancies induced by radiation therapy, which is of severe concern, especially in case of children. Internal radiation therapy is often used for rare cases of cancer in pediatrics. According to WHO, around 400,000 children develop some form of cancer each year. Radiology procedures enable healthcare providers to reduce the mortality rate and accelerate the treatment process.

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Moreover, surge in participation in shooting sports is also positively impacting market growth. Rising demand for high precision, lightweight, and compact weapons at these events is expected to continue to propel growth of the market going ahead. Increase in demand for weapons for self-defense and upsurge in political instability is various countries is further fueling growth of the market. Trade of Radiation Therapy in Oncology are playing a crucial role in economies of countries with civil wear situations, and where need for increasing security personnel is crucial.

Some players analyzed in the report are:

Elekta AB, Isoray Medical, Nordion Inc., Varian Medical Systems Inc., NTP Radioisotopes SOC Ltd., Accuracy Inc., Viewray Technologies Inc., Mevion Medical Systems Inc., C. R. Bard Inc., and Curium Pharma

To learn more details about the Global Radiation Therapy in Oncology Market report, visit @ https://www.emergenresearch.com/industry-report/radiation-therapy-in-oncology-market

Some Significant Report Highlights:

On 04 October 2021, C-RAD AB announced the partnership agreement with Accuray Incorporated to improve the ability of Radixact System of the latter for treatment of breast cancer. As part of the partnership, both firms would offer customers with deep inspiration breath hold (DIBH) solution deploying the Radixact System and C-RAD Catalyst+ HD. Deep inspiration breath hold is a procedure often used for treating breast cancer.

Among the type segments, internal beam radiation therapy segment is expected to register rapid revenue CAGR over forecast period. Internal beam radiation therapy provides a concentrated radiation dose to tumor site instantly after removal of tumor, enabling destruction of leftover microscopic tumor cells. While performing internal beam radiation therapy, radiation oncologists administer an accurate radiation dose to safeguard healthy tissues, including skin, from any damage. This therapy helps in lessening requirement for additional radiation therapy.

Based on technology, image guided radiotherapy segment accounted for a significantly large revenue share in 2021. Image-guided radiation therapy integrates imaging procedures during each treatment session and deploys high-energy radiation beams to combat cancer and noncancerous tumors. Incorporation of detailed images enables image guided radiation therapy to reduce the focus area of radiation beam. Benefits of image guided radiotherapy comprises precise delivery of radiation, better definition, monitoring, and localization of tumor size, shape, and location prior to and during treatment.

Among the application segments, breast cancer segment accounted for considerably large revenue share in 2021. High incidence and mortality rate of breast cancer are driving adoption of radiation therapeutic methods in medical centers. According to the American Cancer Society, breast cancer accounts for approximately 30% of all cancers in women in the U.S.

Key Reasons to Buy This Report:

Comprehensive Analysis: The Radiation Therapy in Oncology Report provides a thorough examination of the radiation therapy market in oncology. It covers topics such as market size, growth trends, market drivers, challenges, and opportunities, providing you with a comprehensive understanding of the industry.

Market Insights: The study provides insightful information about the present market dynamics and future prospects for radiation treatment in cancer. It contains in-depth information on market segmentation, regional analysis, and the competition landscape, allowing you to better understand the market and make informed business decisions.

market Trends and Forecasts: By purchasing the research, you will have access to the most recent market trends as well as future forecasts. This data is critical for identifying new prospects, evaluating market potential, and establishing effective tactics to stay ahead of the competition.

Competitive Analysis: The study provides a comprehensive analysis of the radiation therapy market's competitive landscape. It profiles significant market participants, their market strategies, product ranges, and recent developments. This research allows you to compare your firm to its competitors and identify areas for improvement.

Opportunities for Investment: The research identifies possible investment opportunities in the radiation therapy market. It gives you insights into developing technology, innovative products, and attractive market areas to help you make strategic investment decisions and maximise your results.

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In addition, the analytical data are presented in a well-organized format in the form of charts, tables, graphs, figures, and diagrams in the report. This makes it easier for readers to comprehend the market scenario in a beneficial way. In addition, the report aims to provide a forward-looking perspective and an instructive conclusion to assist the reader in making profitable business decisions. The report concludes with a comprehensive SWOT and Porter’s Five Forces analysis of the segments anticipated to dominate the market, regional bifurcation, estimated market size and share, and more.

On the basis of type, the market is segmented into

Type Outlook (Revenue, USD Billion; 2022–2030)
Internal Beam Radiation Therapy

External Beam Radiation Therapy

Technology Outlook (Revenue, USD Billion; 2022–2030)
Image Guided Radiotherapy

Stereotactic Technology

Proton Beam Therapy

Intensity Modulated Radiotherapy

3D Conformal Radiotherapy

Brachytherapy

Others

Application Outlook (Revenue, USD Billion; 2022–2030)
Breast Cancer

Lung Cancer

Prostate Cancer

Cervical Cancer

Colorectal Cancer

Others

The report further divides the Radiation Therapy in Oncology market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Radiation Therapy in Oncology market.

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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