PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1755343
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1755343
Radiotherapy Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 - 2034
The Global Radiotherapy Market was valued at USD 7.4 billion in 2024 and is estimated to grow at a CAGR of 5.9% to reach USD 13 billion by 2034, driven by the treatment for cancer that involves the use of high doses of radiation to shrink tumors or eliminate cancer cells. It works by damaging the DNA of the cancer cells, preventing them from dividing and growing. There are two primary types of radiotherapy: internal, known as brachytherapy, where radioactive material is placed inside the body near the tumor, and external, where an external beam of radiation is directed at the cancer using equipment like linear accelerators.
The market growth is primarily driven by increased public awareness about various cancer treatment options, including radiotherapy. Numerous government and non-profit organizations run awareness campaigns to educate the public on the importance of early cancer detection and treatment options. Additionally, technological advancements such as intensity-modulated radiation therapy (IMRT), image-guided radiation therapy (IGRT), and proton therapy are significantly improving the precision of radiotherapy, allowing for the targeting of cancerous cells while sparing healthy tissues. These innovations are making radiotherapy an increasingly preferred treatment option for cancer patients.
| Market Scope | |
|---|---|
| Start Year | 2024 |
| Forecast Year | 2025-2034 |
| Start Value | $7.4 Billion |
| Forecast Value | $13 Billion |
| CAGR | 5.9% |
The external beam radiation therapy segment generated USD 4.8 billion in 2024 and is expected to continue its growth at a CAGR of 5.9% through 2034. This growth is mainly attributed to the rising incidence of various types of localized cancers, including breast, prostate, lung, and colon cancers. The increasing adoption of advanced proton therapy, a form of external beam radiotherapy, contributes to the segment's expansion.
The hospital segment generated USD 3.1 billion in 2024 due to the availability of advanced radiotherapy technologies such as linear accelerators and proton therapy systems. Hospitals serve as comprehensive centers for cancer treatment, offering various therapies like chemotherapy, immunotherapy, and surgeries. The collaboration between hospitals and manufacturers to develop and implement cutting-edge radiotherapy equipment has further fueled the segment's growth.
U.S. Radiotherapy Market generated USD 2.5 billion in 2024 driven by the rising cancer incidence across the country. As the number of cancer diagnoses continues to increase, there is a growing demand for advanced treatment options, with radiotherapy being one of the most effective and widely used methods. The increasing awareness of radiotherapy's effectiveness, along with its role in both curative and palliative treatments, has further contributed to its adoption.
Prominent players in the Radiotherapy Market include Mevion Medical Systems, Accuray, Toshiba Energy Systems and Solutions, Brainlab, Mitsubishi Electric, IBA Radiopharma Solutions, Isoray Inc., Hitachi High-Tech, RefleXion, Curium, Elekta, Canon Medical Systems, Nordion, NTP Radioisotopes, Varian Medical Systems. To strengthen their market position, companies operating in the radiotherapy industry are focusing on expanding their product portfolios and improving the technological capabilities of their equipment. Many market players are investing in developing innovative radiotherapy systems that integrate advanced features such as precision imaging, real-time guidance, and proton therapy capabilities. Collaborations between manufacturers and healthcare facilities are rising to improve the accessibility of state-of-the-art technologies in treatment centers.
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market scope and definitions
- 1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
- 1.3 Base estimates and calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
- 1.4 Forecast model
- 1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.5.2 Data mining sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Technological advancement in radiotherapy
- 3.2.1.2 Increasing number of cancer cases globally
- 3.2.1.3 Growing public awareness related to cancer therapy
- 3.2.1.4 Increasing healthcare infrastructure and R&D investments
- 3.2.2 Industry pitfalls and challenges
- 3.2.2.1 Lack of skilled and experienced healthcare professionals in developing and underdeveloped regions
- 3.2.1 Growth drivers
- 3.3 Growth potential analysis
- 3.4 Regulatory landscape
- 3.5 Trump administration tariffs
- 3.5.1 Impact on trade
- 3.5.1.1 Trade volume disruptions
- 3.5.1.2 Country-wise response
- 3.5.2 Impact on the industry
- 3.5.2.1 Supply-side impact (Cost of manufacturing)
- 3.5.2.1.1 Price volatility in key materials
- 3.5.2.1.2 Supply chain restructuring
- 3.5.2.1.3 Production cost implications
- 3.5.2.2 Demand-side impact (Cost to consumers)
- 3.5.2.2.1 Price transmission to end markets
- 3.5.2.2.2 Market share dynamics
- 3.5.2.2.3 Consumer response patterns
- 3.5.2.1 Supply-side impact (Cost of manufacturing)
- 3.5.3 Key companies impacted
- 3.5.4 Strategic industry responses
- 3.5.4.1 Supply chain reconfiguration
- 3.5.4.2 Pricing and product strategies
- 3.5.4.3 Policy engagement
- 3.5.5 Outlook and future considerations
- 3.5.1 Impact on trade
- 3.6 Technological landscape
- 3.7 Future market trends
- 3.8 Gap analysis
- 3.9 Porter's analysis
- 3.10 PESTEL analysis
Chapter 4 Competitive Landscape, 2024
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Company matrix analysis
- 4.4 Competitive analysis of major market players
- 4.5 Competitive positioning matrix
- 4.6 Strategy dashboard
Chapter 5 Market Estimates and Forecast, By Product Type, 2021 – 2034 ($ Mn)
- 5.1 Key trends
- 5.2 External beam radiation therapy
- 5.2.1 Intensity-modulated radiation therapy (IMRT)
- 5.2.2 Image-guided radiation therapy (IGRT)
- 5.2.3 Proton therapy
- 5.2.4 Other external radiation therapies
- 5.3 Internal radiation therapy
- 5.4 Systemic radiation therapy
Chapter 6 Market Estimates and Forecast, By Application, 2021 – 2034 ($ Mn)
- 6.1 Key trends
- 6.2 Lung cancer
- 6.3 Prostate cancer
- 6.4 Breast cancer
- 6.5 Cervical cancer
- 6.6 Head and neck cancer
- 6.7 Other applications
Chapter 7 Market Estimates and Forecast, By End Use, 2021 – 2034 ($ Mn)
- 7.1 Key trends
- 7.2 Hospitals
- 7.3 Radiotherapy centers and ambulatory surgery centers
- 7.4 Cancer research institutes
Chapter 8 Market Estimates and Forecast, By Region, 2021 – 2034 ($ Mn)
- 8.1 Key trends
- 8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 France
- 8.3.4 Spain
- 8.3.5 Italy
- 8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 Australia
- 8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.6 Middle East and Africa
- 8.6.1 Saudi Arabia
- 8.6.2 South Africa
Chapter 9 Company Profiles
- 9.1 Accuray
- 9.2 Brainlab
- 9.3 Curium
- 9.4 Canon Medical Systems
- 9.5 Elekta
- 9.6 Hitachi High-Tech
- 9.7 IBA Radiopharma Solutions
- 9.8 Isoray Inc.
- 9.9 Mevion Medical Systems
- 9.10 Mitsubishi Electric
- 9.11 Nordion
- 9.12 NTP Radioisotopes
- 9.13 RefleXion
- 9.14 Toshiba Energy Systems and Solutions
- 9.15 Varian Medical Systems
