PUBLISHER: The Business Research Company | PRODUCT CODE: 1720875
PUBLISHER: The Business Research Company | PRODUCT CODE: 1720875
Radiotherapy is a medical treatment that utilizes high doses of radiation to destroy cancer cells and shrink tumors. It is commonly used to treat various types of cancer, either as a standalone therapy or in combination with surgery and chemotherapy.
The primary types of radiotherapy include external beam radiation therapy, internal beam radiation therapy, and systemic radiation therapy. External beam radiation therapy delivers high-energy radiation from an external machine to target and destroy cancer cells. This treatment is applied to various cancers, including prostate, breast, lung, head and neck, colorectal, gynecological, cervical, and penile cancers, among others. It is used by multiple end users, such as hospitals and diagnostic labs, cancer treatment and research centers, academic institutions, and ambulatory surgery centers.
The radiotherapy market research report is one of a series of new reports from The Business Research Company that provides radiotherapy market statistics, including the radiotherapy industry's global market size, regional shares, competitors with a radiotherapy market share, detailed radiotherapy market segments, market trends and opportunities, and any further data you may need to thrive in the radiotherapy industry. This radiotherapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The radiotherapy market size has grown strongly in recent years. It will grow from $7.38 billion in 2024 to $7.92 billion in 2025 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period was driven by the increasing incidence of cancer cases worldwide, rising demand for non-invasive cancer treatments, expansion of healthcare infrastructure, greater adoption of personalized medicine, and a growing patient population requiring cancer treatment.
The radiotherapy market size is expected to see strong growth in the next few years. It will grow to $10.35 billion in 2029 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period is expected to be driven by increasing investment in advanced healthcare technologies, a growing focus on minimally invasive treatment options, rising demand for home-based healthcare solutions, an increasing emphasis on quality assurance programs, and expanding global health initiatives addressing cancer care. Key trends include advancements in image-guided radiotherapy, progress in particle therapy, the development of novel brachytherapy techniques, innovations in CyberKnife technology, and the integration of artificial intelligence in treatment planning.
The rising prevalence of cancer is anticipated to drive the expansion of the radiotherapy market. Cancer is a disease characterized by the uncontrolled growth of abnormal cells that can invade and spread to other parts of the body, affecting various tissues and organs and leading to a wide range of symptoms. The increasing incidence of cancer is linked to factors such as an aging population, lifestyle changes including poor diet and physical inactivity, high tobacco and alcohol consumption, environmental pollution, and advancements in diagnostic tools that enable earlier detection. Radiotherapy plays a vital role in cancer treatment by precisely targeting and destroying cancerous cells, reducing tumor size, and improving patient outcomes. For example, in August 2024, Macmillan Cancer Support, a UK-based charitable organization supporting cancer patients, reported that more than 3 million people in the UK were living with cancer, with projections indicating an increase to 3.5 million by 2025, 4 million by 2030, and 5.3 million by 2040. As a result, the rising prevalence of cancer is fueling the growth of the radiotherapy market.
Leading companies in the radiotherapy market are prioritizing the development of innovative technologies, such as image-guided radiotherapy (IGRT), to enhance treatment precision, improve patient outcomes, and minimize damage to surrounding healthy tissues. IGRT utilizes advanced imaging tools to ensure accurate tumor targeting during radiation therapy, allowing real-time tracking and adjustments to the tumor's position for increased precision. For instance, in May 2022, Elekta AB, a Sweden-based medical technology company, introduced the Elekta Esprit, a next-generation radiosurgery system that enhances the capabilities of stereotactic radiosurgery. This system integrates multiple innovations into a single platform, offering superior visualization and remote accessibility for treatment teams. It supports flexible workflow options, including single-session, fractionated, adaptive, or staged protocols, optimizing ease of use and efficiency in clinical settings. With an accuracy of less than 0.3 mm, the system is designed to treat even the most challenging targets while preserving surrounding healthy tissues.
In February 2024, Bristol Myers Squibb, a US-based pharmaceutical company, acquired RayzeBio Inc. for an undisclosed amount. This acquisition strengthens its oncology pipeline with advanced radiopharmaceutical therapeutics, including RYZ101, which targets SSTR2 in GEP-NETs and ES-SCLC. With ongoing clinical trials and a state-of-the-art manufacturing facility, this strategic move enables Bristol Myers Squibb to accelerate innovation, expand treatment options, and drive growth in the oncology sector. RayzeBio Inc. is a US-based company specializing in the development of innovative radiopharmaceuticals for cancer treatment.
Major players in the radiotherapy market are Hitachi Ltd., Koninklijke Philips N.V., GE Healthcare Technologies Inc., Sumitomo Heavy Industries Ltd., Varian Medical Systems Inc., Elekta AB, Accuray Incorporated, Ion Beam Applications S.A, Canon Medical Systems Corporation, RefleXion Medical Inc., Mevion Medical Systems Inc., Nordion Inc., Theragenics Corporation, RaySearch Laboratories AB, MIM Software Inc., Vision RT Ltd., Sun Nuclear Corporation, Provision Healthcare LLC, Panacea Medical Technologies Pvt. Ltd., Optivus Proton Therapy Inc., Perspective Therapeutics Inc., GT Medical Technologies Inc., ProTom International Inc.
North America was the largest region in the radiotherapy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in radiotherapy report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the radiotherapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The radiotherapy market includes revenues earned by entities by providing services such as brachytherapy, palliative radiotherapy, proton therapy, and intraoperative radiotherapy. The market value includes the value of related goods sold by the service provider or included within the service offering. The radiotherapy market consists of sales of patient positioning systems, surface-guided radiation therapy systems (SGRT), CT and MRI simulation systems, and linear accelerators. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Radiotherapy Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on radiotherapy market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for radiotherapy ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The radiotherapy market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.