A recent report published by Infinium Global Research on radiation oncology market provides an in-depth analysis of segments and sub-segments in the global as well as regional radiation oncology market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional radiation oncology market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global radiation oncology market. According to the report, the global radiation oncology market is projected to grow at a CAGR of 6.3% over the forecast period of 2019-2025.
Radiation oncology is a medical specialty that uses high energy radiation such as X-rays, gamma rays protons, or electrons for the treatment of cancer. The global radiation oncology market is expected to grow at a success rate over the forecast period.
Growing incidences of cancer across the globe is one of the major factors for the growth of the radiation oncology market. According to the World Health Organization, cancer is the second leading cause of death across the globe and is responsible for an estimated 9.6 million deaths in 2018. Globally, almost 1 in 6 deaths is due to cancer. Moreover, the rise in the geriatric population and increasing technological advancements also play a vital role in the growth of the radiation oncology market. Also, the growing adoption of non-invasive procedures in emerging countries drives market growth. However, the high cost of therapy and instrument and lack of trained technicians in developing countries may hamper the growth of the radiation oncology market during the forecast period. Moreover, growing healthcare awareness among the people and increase in the patent pool creates an opportunity for the growth of the market in the upcoming years.
In terms of region, the global radiation oncology market is classified into North America, Europe, Asia-Pacific and Rest of the World. Among all, North America is leading the radiation oncology market and is expected to dominate the market during the forecast period due to developed health infrastructure, and the presence of many multinational players in the region. Also, the high incidence of cancer, the growing adoption of advanced technologies, and the increasing geriatric population are the other key factors for the growth of the market in the North American region. The Asia-Pacific is estimated to grow at a rapid pace during the forecast period. Increasing patient population and modernization of healthcare infrastructure are likely to drive the radiation oncology market in the Asia-Pacific region.
The report on global radiation oncology market covers segments such as type, and application. On the basis of type, the sub-markets include radioisotope therapy, brachytherapy, and external beam radiation therapy. On the basis of application, the sub-markets include blood cancer, prostate cancer, breast cancer, respiratory/lung cancer, gastrointestinal cancer, skin cancer, and other application.
The report provides profiles of the companies in the market such as Elekta AB, Varian Medical Systems, Accuray Incorporated, C.R. Bard, Inc., IsoRay, Inc., Mevion Medical Systems, Ion Beam Applications SA, Nordion Inc., NTP Radioisotopes SOC Ltd.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of radiation oncology market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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