Radiation Oncology Market - Global Industry Analysis, Growth, Key Trends, Regional Assessment, and Forecast 2020 - 2030

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Radiation Oncology Market - Global Industry Analysis, Growth, Key Trends, Regional Assessment, and Forecast 2020 - 2030

Status : March, 2023 | Medical Devices

Report Digest

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

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.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?