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 the 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 the 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.