Radiation Therapy Market Size, Share, and Trends 2024 to 2034

The global radiation therapy market size was estimated at USD 7.47 billion in 2023 and is expected to hit around USD 16.30 billion by 2033 with a rising CAGR of 8.58% during the forecast period 2024 to 2033.

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Key Takeaways

• North America has accounted revenue share of around 38.82% in 2023.
• APAC is expected to reach a CAGR of 7.6% from 2024 to 2033.
• By type, external beam therapy has captured a market share of 81%.
• By application, the breast cancer segment has contributed the highest market share in 2023.
• By end-users, the hospitals segment held the highest revenue share 72% in 2023.

Radiation Therapy Market Size in the U.S. 2024 To 2033

The U.S. radiation therapy market size reached USD 2.03 billion in 2023 and is anticipated to be worth around USD 4.65 billion by 2033, poised to grow at a CAGR of 9.09% from 2024 to 2033.

On the basis of geography in the segmentation of radiation therapy, North America is the largest with enhanced market share and increased market value of radiation therapy with increasing technologies in radiation therapy with rising demands from the market in the medical sector with rising chronic disorders such as cancer.

Increased investment from the key market players for the development of new technologies in the market with increased efficiency. Asia Pacific region with significant growth in radiation with increased market growth and developed technologies. Which helps to boost the marker of radiation therapy. Other major regions such as Latin America, Europe, the Middle East, and Africa help to contribute to the growth of radiation therapy during the forecast period.

Market Overview

Radiation therapy developing and increasing the market with new technologies and increased efficiency of the therapy. Radiation therapy abbreviation is RT, RTx, XRT. This therapy involves ionizing radiation which is utilise to kill the cancerous cells in the body with the death of the cells in the tumor and stop the growth of the tumor and killing the malignant cell which avoids from spreading the cancerous cell to other organs of the body. Radiation therapy is involved in killing cell in numerous types of cancer and provides with increased efficiency of the therapy which helps for killing the malignant tumour.

Radiation therapy involves ionizing radiation which helps to kill the DNA of the cancerous cell and avoid spread of the cancerous cell. Developed technologies in radiation therapy helps to drive the market of radiation therapy with increased efficiency and efficacy and increased demands from the market with increasing the number of customers expand the market of radiation therapy during the forecast period. Impact of Covid-19 on the radiation therapy with reduced demands from the medical sector for the radiation therapy with decreased visiting of patients to the hospital for treatment led to reduced market of radiation therapy. Post pandemic situation with increased number of patients and enhance visit to the hospital to cure the disease and help to boost the market of radiation therapy during the forecast period.

Radiation Therapy Market Scope

Growth Factors

Radiation therapy is basically involved for treating the cancer disease with increased ionizing radiation which helps to kill the cancerous cell in the body and prevention of the spread of malignant cells. Increased prevalence of cancer patients with increased demands from the market for the new technologies developed to treat the disease and enhance efficacy of the radiation therapy with improved results from the radiation therapy helps to drive the market of radiation therapy in oncology it is involved in various types of cancer with enhance results helps to expand the market of radiation therapy during the forecast period.

Advance technologies developed in radiation therapy involved with increased demand from the medical sector for prevention of the disease helps to accelerate the market of radiation therapy. Decreased side effects of the radiation therapy depends on the dose of the drug with rising market of radiation therapy. Enhance advance technologies developed in the radiation therapy with software system embedded in the radiation therapy technology with enhance connectivity and increased performance helps to boost the market of radiation therapy during the forecast period.

Increased research and development in radiation therapy with improving the performance of the radiation therapy and increased demands due to increasing disorders and prevention of the diseases with new constant research with new launch by the key market players helps to boost the market of radiation therapy with increased revenue share during the forecast period. 

Radiation Therapy Market Dynamics

Key Market Drivers

• Increasing number of patients with cancer disease - Enhance number of patients with increasing cancer disorder among the population due to changing lifestyle, dietary intake, lack of exercise, obesity which led to increasing disorder led to increased market of radiation therapy and enhance market growth with increased revenue share during the forecast period. Increasing demands from the medical sector for the radiation therapy with enhance ionizing radiation with increased efficiency of the therapy and increased performance in the oncology disorder with increased utilisation for killing the cancerous cells and prevention of malignant cells from spreading to the other parts. Which helps to boost the market of radiation therapy during the forecast period.
• Increased awareness - Spreading awareness among the people regarding the advance development introduced in the radiation therapy with increased initiative and benefits in the radiation therapy with advance technologies developed in the radiation therapy with innovative features in the radiation therapy with increased out put and enhance results and increased demands from the market help to accelerate the radiation therapy technologies with increased integration of software system with increased connectivity helps to drive the market of radiation therapy with increased market value.

Key Market Challenges 

• Increased difficulty in detection of the tumour - Enhance difficulty in visualisation of the tumour and effect of ionizing radiation without affecting the other surrounding tissue utilised in treatment of the cancer which only involves killing only the cancerous cells with increased challenge to eradicate the cancerous cell which involves killing of the DNA. Which required increased safety margin during performing the procedure with increased risk may decline the radiation therapy market.
• High cost of the developed technologies - The advance developed technologies in the radiation therapy with increased efficiency and enhance performance of radiation therapy in oncology and improved software system. which led to increased cost of the radiation therapy and reduced demands from the customer due to enhance cost of the treatment may hamper the market of radiation therapy during the forecast period.
• Lack of skill - Development of new technologies in radiation therapy with innovative facilities integrated in the therapy with enhance ionizing radiation which require improved skills for performing the procedure involved in radiation therapy. Lack of skill among the individual to carry out the procedure may reduce the market of radiation therapy during the forecast period.

Key Market Opportunities

• Enhance investment - Increased research and development with new technologies developed in radiation therapy with improved results and enhance research with increasing investment from the private companies for developing the new technology and enhance treatment in oncology disorder and killing the cancerous cells effectively with increased output and growing the radiation therapy market with increased revenue share during the forecast period.
• Increased government support - Enhance government support for developing new technologies in radiation therapy with increased performance from the treatment with increased demands and support developing with increase in research and technologies and increased investment from the government for various regions with increased number of policies such as reimbursement so that common people also can take the benefit of the treatment. Which led to increased opportunity in radiation therapy during the forecast period. 

Technology Insights

On the basis of technology in segmentation of radiation therapy, Cyber knife subsegment of stereotactic with electron /cobalt -60 linear accelerator in external beam radiotherapy accounts for the largest market growth with increased market share during the forecast period. Due to increased demands from the medical sector with rising number of patients with caner and other chronic disorders and improved efficiency of the radiation therapy with increased supply of the requirements of cyber knife in external beam radiotherapy with enhance number of organizations to develop the technology. Which drives the market of radiation therapy.

Application Insights

On the basis of application in segmentation of radiation therapy with increased number of applications in various number of cancer disorder with increasing number of demands from the market with increased number of patients with cancer and increased efficiency of the treatment with enhance results helps to drive the market of radiation therapy. Prostate cancer to hold the largest market with increased market rate with increasing CAGR and developed technologies such as LDR and HDR brachytherapy are used for treating the high prostate cancer and enhance results boost the market of radiation therapy during the forecast period.

Procedure Insights

On the basis of procedure in segmentation of radiation therapy. Particle therapy segment invoved in external beam radiotherapy with highest market growth with increased market value in radiation therapy with rising demands from the medical sector with increasing number of cancer patients and increased advance technologies developed with continuous research and development by the key market players drives the market of radiation therapy to a larger extend,

Recent Developments

• In the year 2019 March, DOSIsoft SA got the approval from the Food Drug Administration in a Commercial Planet. Which involves a software of Onco Dose with increased solution in 3D dosimetry based on the Selective Internal Radiation Therapy and enhance the market of radiation therapy market.
• In the year 2019 February, Approval from the FDA in new soft visualisation in MRI Guided radiation therapy in the company Viewary Technologies. 

Segments Covered in the Report

By Type

• Product
• Service

By Technology

• External Beam Radiotherapy
  • Linear accelerators
    • Convential linear accelerators 
    • Stereotactic advanced Elecron/Cobalt-60-linear accelerators 
    • Gamma Knife
    • CyberKnife
    • Tomotherapy
• Convnetial Cobalt-60 Teletherapy Units
• Particle Therapy Systems
  • Cyclotrons
  • Synchrotrons
  • Synchrocyclotron
• Internal Beam Radiotherapy/Brachytherapy
  • Seeds
  • Afterloaders
  • Applicators
  • IORT Systems
• Systemic Radiotherapy
  • Lobenguane (I-131)
  • Samarium-153
  • Rhenium- 186
  • Others

By Application

• External Beam Radiotherapy
  • Prostate cancer
  • Breast cancer
  • Lung cancer
  • Head and neck cancer
  • Colorectal cancer
  • Others
• Internal Beam Radiotherapy/Brachytherapy
  • Prostate cancer
  • Gynecological cancer
  • Breast cancer
  • Cervical cancer
  • Penile cancer
  • Others

By Procedure

• External Beam Radiotherapy
  • Image guided radiotherapy
  • Intensity-modulated radiotherapy
  • Stereotactic therapy
  • Particle therapy
  • 3D Conformal radiotherapy
• Internal Beam Radiotherapy/Brachytherapy
  • High-dose-rate Brachytherapy
  • Low-dose-rate Brachytherapy
  • Pulsed-dose-rate Brachytherapy
• Systemic Radiotherapy
• Intravenouos Radiotherapy
• Oral Radiotherapy
• Instillation Radiotherapy

By End-User

• Hospitals
• Independent Radiotherapy Centers

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)