Global Radiation Oncology Market 2018-2024

  • December, 2017
  • Domain: Healthcare - Medical Devices
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Radiation oncology is a medical specialty that uses high energy radiation such as gamma rays, X-rays, protons, or electrons for cancer treatment. These high energy ionizing radiation damage nucleic acids, either directly or indirectly, through the formation of reactive oxygen species and free radicals. Radiation treatment can be used in combination with chemotherapy, surgery, and immunotherapy. According to the estimation of National Cancer Institute, in the US, around 1.6 million new cases of cancer are diagnosed, and 595,690 people have died due to cancer in 2016. According to the study of World Health Organization, approximately 14 million new cancer cases were diagnosed and is expected to increase by about 70% over the next 2 decades. Increasing cancer cases and increasing adoption of non-invasive procedures in emerging countries are expected to fuel the growth of the radiation oncology market in the near future.

The radiation oncology market is booming due to increasing incidences of cancer globally, increasing elderly population, and technological advancements. The high cost of instrument and therapy, side effects, and lack of trained technicians in developing countries are few of the factors hampering the market growth. The markets in emerging countries are expected to grow rapidly during the forecast period due to increasing healthcare spending, growing patient pool, and increasing healthcare awareness among the public.

Market Analysis: The “Global Radiation Oncology” market is estimated to witness a CAGR of 6.7% during the forecast period 2018–2024. The market is analyzed based on four segments – therapy type, application, end-users, and regions.

Regional Analysis: The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is set to be the leading region for the radiation oncology market growth followed by Europe, Asia Pacific, and Rest of the World.

Therapy Type Analysis: The market, by therapy type, is segmented into external beam radiation therapy, internal beam radiation therapy, and systemic radiation therapy. External beam radiation therapy occupied the largest share in 2017 due to its high usability, and it is a highly effective treatment for various cancer types such as prostate cancer (that can cure up to 95% of cases). External beam radiation therapy is further segmented by technology and products. The technologies include IGRT, IMRT, VMAT, SBRT, SRS, IMPT, and others. Various products include linear accelerators and proton therapy systems among others.

Application Analysis: The market, by application, is segmented into prostate cancer, cervical cancer, breast cancer, lung cancer, head & neck cancer, brain cancer, and others. Prostate cancer occupies the largest market share and is expected to be the fastest growing segment during the forecast period.

End-users Analysis: The market, by end-users, is segmented into hospitals, radiation therapy centers, ambulatory service centers, and others. Hospitals occupied a significant share of the radiation oncology market in 2016, and this trend is expected to continue for the next 5 years.

Key Players: Accuray Incorporated, Elekta AB, Varian Medical Systems, C.R. Bard, Inc., IBA Worldwide, Carl Zeiss Meditec AG, Mevion Medical Systems, Nordion, Inc., IsoRay, Inc., Hitachi Medical Corporation, ViewRay, Inc., and other predominate & niche players.

Competitive Analysis: Currently, external beam radiation therapy dominates the global radiation oncology market. The existing leading players and other predominant market players are concentrating on this market to offer advanced and innovative products with fewer side effects. The key market players are acquiring small companies to enhance their product portfolio and strengthen their leadership position in the market. Apart from this, major players are launching new radiation therapy products to have the edge in the market. For instance, in May 2017, Varian Medical Systems introduced the Halcyon system, an entirely new device for cancer treatment. In September 2017, Qfix launched new radiotherapy positioning technology for the accurate treatment of breast cancer.

Benefits: The report provides complete details about the usage and adoption rate of radiation oncology products in various applications and regions. With that, key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, government initiatives toward the product adoption in the upcoming years along with the details of commercial products available in the market. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market.

Key Stakeholders:

radiation oncology stakeholders

1              INDUSTRY OUTLOOK

1.1          Industry overview

1.2          Industry Trends

2              Report Outline

2.1          Report Scope

2.2          Report Summary

2.3          Research Methodology

2.4          Report Assumptions

3              Market Snapshot

3.1          Market Definition – Infoholic Research

3.2          Advantages of Radiation Oncology

3.3          Side-effects of Radiation Oncology

3.4          Segmented Addressable Market (SAM)

3.5          Trends of the Radiation Oncology market

3.6          Related Markets

3.6.1      Cancer immunotherapy

3.6.2      Oncology drugs

4              Market Outlook

4.1          Overview

4.2          Funding scenario

4.3          Market segmentation

4.4          PEST Analysis

4.5          Porter 5(Five) Forces

5              Market Characteristics

5.1          DRO – Global Radiation Oncology Market Dynamics

5.1.1      Drivers   Growing incidence of cancer globally   Advancement in technology

5.1.2      Opportunities   Growing elderly population   Increasing adoption of non-invasive procedures in emerging countries

5.1.3      Restraints   Lack of trained technicians in developing countries   Side effects   High cost of instrument and therapy

6              Therapy type: Market Size and Analysis

6.1          Overview

6.2          External beam radiation therapy (EBRT)

6.2.1      By technology   Image-guided radiation therapy (IGRT)   Intensity-modulated radiation therapy (IMRT)   Volumetric modulated arc therapy (VMAT)   Stereotactic body radiation therapy (SBRT)   Intensity modulated proton therapy (IMPT)   Stereotactic radiosurgery (SRS)   Others

6.2.2      By Products   Linear accelerator (LINAC)   Proton therapy systems

6.3          Internal beam radiation therapy/Brachytherapy

6.3.1      By technology   High Dose Rate (HDR) brachytherapy   Low Dose Rate (LDR) brachytherapy   Others

6.3.2      By Products   Seeds   Applicators, afterloaders and other accessories

6.4          Systemic beam radiation therapy

7              Application: Market Size and Analysis

7.1          Overview

7.2          Prostate cancer

7.3          Cervical cancer

7.4          Breast cancer

7.5          Lung cancer

7.6          Head and Neck cancer

7.7          Brain cancer

7.8          Others

8              End Users: Market Size and Analysis

8.1          Overview

8.2          Hospitals

8.3          Radiation therapy centres

8.4          Ambulatory surgery centres

8.5          Others

9              Regions: Market Size and Analysis

9.1          Overview

9.2          North America

9.2.1      Overview

9.2.2      US

9.2.3      Canada

9.3          Europe

9.3.1      Overview

9.3.2      UK

9.3.3      Germany

9.3.4      France

9.3.5      Spain

9.4          APAC

9.4.1      Overview

9.4.2      India

9.4.3      China

9.4.4      Japan

9.5          Rest of the World

9.5.1      Overview

9.5.2      Brazil

9.5.3      Middle East

10           Competitive Landscape

10.1        Overview

11           Vendor Profiles

11.1        Accuray Incorporated

11.1.1    Overview

11.1.2    Geographic Presence

11.1.3    Business Focus

11.1.4    SWOT Analysis

11.1.5    Business Strategies

11.2        Elekta

11.2.1    Overview

11.2.2    Geographic Presence

11.2.3    Business Focus

11.2.4    SWOT Analysis

11.2.5    Business Strategy

11.3        Varian Medical Systems

11.3.1    Overview

11.3.2    Business Units

11.3.3    Geographic Presence

11.3.4    Business Focus

11.3.5    SWOT Analysis

11.3.6    Business Strategies

11.4        C. R. Bard, Inc.

11.4.1    Overview

11.4.2    Business Units

11.4.3    Business Focus

11.4.4    SWOT Analysis

11.4.5    Business Strategies

11.5        IBA worldwide

11.5.1    Overview

11.5.2    Business Units

11.5.3    Geographic Presence

11.5.4    Business Focus

11.5.5    SWOT Analysis

11.5.6    Business Strategies

12           Companies to Watch For


12.1.1    Overview

12.1.2    Carl Zeiss Meditec AG: Recent Developments

12.2        Mevion Medical Systems

12.2.1    Overview

12.2.2    Mevion Medical Systems, Inc.: Recent Developments

12.3        Nordion, Inc.

12.3.1    Overview

12.3.2    Nordion, Inc.: Recent Developments

12.4        IsoRay, Inc.

12.4.1    Overview

12.4.2    IsoRay, Inc.: Recent Developments

12.5        Hitachi Medical Corporation

12.5.1    Overview

12.5.2    Hitachi Medical Corporation: Recent Developments

12.6        ViewRay, Inc.

12.6.1    Overview

12.6.2    ViewRay, Inc.: Recent Developments

13           Annexure

13.1        Abbreviations

Research Framework

Infoholic research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:

  • Data Collation (Primary & Secondary)
  • In-house Estimation (Based on proprietary data bases and Models)
  • Market Triangulation
  • Forecasting

Market related information is congregated from both primary and secondary sources.

Primary sources

involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.

Secondary sources

include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.

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