The worldwide radiation oncology market is predicted to expand due to a variety of factors, including an increase in healthcare spending and the construction of healthcare infrastructure. The study also contains significant geographical details, such as the presence of key firms and goods. It also includes data on significant end-users including Change Healthcare, Experian, and the Mayo Clinic. However, several obstacles, such as the cost of products and services, the intricacies involved in the process, and the high cost of radiation treatment devices, may limit market expansion.
The Global Radiation Oncology Market Information Report offers a comprehensive examination of the industry, including major drivers and inhibitors, product and application trends, and regional market analysis. The paper also examines the competitive environment, including historical and present statistics, technological advances, and anticipated market trends. It also discusses the worldwide radiation oncology market's drivers, challenges, and opportunities, as well as the main competitors.
Furthermore, the study examines market trends in several regions, such as revenue, sales, and consumption. The research also highlights the market's top players, providing financial statements and corporate biographies. This assists the sector in understanding the competition in different places and making the best decisions for its growth. Keep in mind that the global radiation oncology market will stay competitive through 2027, which may limit expansion in the next years.
The radiation oncology market in North America is expected to reach $1.2 billion by 2021. This increase is attributable to rising healthcare costs and the adoption of novel oncology techniques. Furthermore, prominent companies' presence in North America is likely to contribute to market growth. This region is expected to expand the most in the future years. The paper also emphasizes the expansion of radiation oncology in Asia Pacific.
The rising cancer incidence in Asia is likely to boost the expansion of the radiation oncology market. Cancer incidence in Asia is lower than in other areas, but the number of cases is predicted to rise. This, in turn, will result in quicker expansion in the radiation oncology market. By 2022, the region's CAGR will be approximately 6%. The research also identifies important growth factors for the radiation oncology industry.
The research also discusses the radiotherapy market's competitive landscape. Becton, Dickinson and Company, Elekta AB, IBA (Ion Beam Applications SA), Eckert & Ziegler Group, Mevion Medical Systems Inc., and Siemens Healthineers are among the key companies. The study also emphasizes the strength of suppliers and purchasers. In addition, the paper discusses the regulatory and legal structure that oversees radiotherapy.
Radiation oncology goods and services are estimated to account for over half of the market in North America by 2022. This expansion is anticipated to be aided by the region's healthcare infrastructure and experienced healthcare workers. Furthermore, the presence of significant market players such as Accuray Incorporated, Nordion Inc., and Varian Medical Systems would most likely drive industry expansion. Furthermore, an increasing population of cancer patients is likely to propel the market even further.
External Beam Radiation Therapy: The external beam sector is predicted to command a significant part of the market in 2020 and to produce $11,638.2 million in sales by 2030. It employs high-energy radiation that is placed on the tumor and successfully eliminates cancer cells while causing no harm to normal tissues. Depending on the patient's treatment, external beam radiation therapy employs photons, electrons, and protons. Furthermore, it is more effective in destroying aberrant cells, reducing discomfort.
Technological Advancements: Radiation oncology technology will continue to progress in the future. The addition of modern radiation equipment and procedures will aid in the improvement of treatment efficiency and safety. Technological developments will hasten the market even further. For example, 4D radiotherapy allows clinicians to follow the tumor in real time, correct for organ movement, and apply conformal radiation. Furthermore, sophisticated therapeutic approaches can aid patients with complex disorders that are hard to cure with traditional therapy.