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Global Radiation Oncology Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Type;

External Beam Radiation Therapy and Internal Beam Radiation Therapy

By Technology;

Brachytherapy and Others

By Application;

Breast Cancer, Lung Cancer, Penile Cancer, Prostate Cancer, and Others

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031)

Report ID: Rn675725660 Published Date: May, 2025 Updated Date: June, 2025

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Radiation Oncology Market Overview

Radiation Oncology Market (USD Million)

Radiation Oncology Market was valued at USD 9,679.61 million in the year 2024. The size of this market is expected to increase to USD 15,421.73 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 6.9%.

Global Radiation Oncology Market Growth, Share, Size, Trends and Forecast

*Market size in USD million

CAGR 6.9 %

Study Period	2025 - 2031
Base Year	2024
CAGR (%)	6.9 %
Market Size (2024)	USD 9,679.61 Million
Market Size (2031)	USD 15,421.73 Million
Market Concentration	Medium
Report Pages	316

9,679.61

2024

15,421.73

2031

Major Players

Elekta AB
Accuray Incorporated
IBA Radiopharma Solutions
BD (Becton, Dickinson and Company)
Isoray Inc.
Mevion Medical Systems
Nordion, Inc.
NTP Radioisotopes SOC Ltd.

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Global Radiation Oncology Market

Fragmented - Highly competitive market without dominant players

The Radiation Oncology Market is experiencing significant expansion, fueled by increasing cancer cases and evolving treatment approaches. Enhanced techniques such as image-guided and intensity-modulated radiation therapies have become more prominent. Today, over 60% of cancer patients undergo radiation therapy, reflecting its integral place in comprehensive cancer treatment plans.

Technological Advancements
Breakthroughs in technology, including proton therapy and stereotactic radiosurgery, have transformed therapeutic capabilities. Adoption of precision-based tools has increased by more than 35%, making treatments safer and more targeted. These innovations, along with modern linear accelerators, are redefining how healthcare providers deliver cancer therapy.

Rising Treatment Adoption
Adoption of radiation oncology solutions has escalated, supported by enhanced diagnostics and greater awareness. Healthcare centers have seen a 40% increase in patient demand for radiation therapies, largely due to quicker recovery times and reduced invasiveness. These factors contribute to improved outcomes and broader acceptance across the medical community.

Regulatory and Institutional Support
Increased investment from government bodies and public health institutions has reinforced the radiation oncology landscape. Training programs and treatment facility enhancements have risen by nearly 25%, making therapies more accessible. This trend, alongside standardized care protocols, underscores the treatment’s growing medical legitimacy.

Future Outlook
The future of radiation oncology is being shaped by AI-based planning systems and predictive analytics. The use of machine learning in oncology workflows has grown by over 30%, offering smarter and faster decision-making. As healthcare shifts toward integrated, multidisciplinary models, radiation therapy is expected to remain central to cancer care evolution.

Radiation Oncology Market Recent Developments

In July 2023, in India IBA took a step towards collaboration by forming a partnership with Apollo Proton Cancer Centre (APCC). The purpose was to offer training sessions for oncologists, focusing on proton beam therapy, demonstrating a commitment to knowledge sharing and professional development within the radiation oncology sector.
In October 2023, Accuray incorporated achieved a significant milestone as their Tomo C radiation therapy system gained approval from the Chinese National Medical Products Administration (NMPA). This strategic move by the company reflects its commitment to expanding market presence and catering to the growing demand for advanced radiation oncology solutions in China.

Radiation Oncology Market Segment Analysis

In this report, the Radiation Oncology Market has been segmented by Type, Technology, Application, and Geography.

Radiation Oncology Market, Segmentation by Type

The Radiation Oncology Market has been segmented by Type into External Beam Radiation Therapy and Internal Beam Radiation Therapy.

External Beam Radiation Therapy

External Beam Radiation Therapy (EBRT) remains the most widely used approach in radiation oncology, accounting for nearly 81% of the global market share in 2024. This method targets cancer cells by delivering high-energy beams, such as photons or protons, from outside the body. EBRT is commonly employed in the treatment of breast, prostate, lung, and head and neck cancers. Technological innovations like Intensity-Modulated Radiation Therapy (IMRT) and Image-Guided Radiation Therapy (IGRT) have significantly improved accuracy, reducing damage to healthy tissue.

Internal Beam Radiation Therapy

Also known as brachytherapy, Internal Beam Radiation Therapy involves placing radioactive materials directly inside or near the tumor, delivering precise, high-dose radiation. This method is highly effective for cancers such as prostate, cervical, and breast cancer. In 2023, High-Dose Rate (HDR) brachytherapy represented about 69.7% of the internal radiation therapy segment. The localized delivery of radiation in brachytherapy contributes to shorter treatment durations and fewer side effects compared to external methods.

Radiation Oncology Market, Segmentation by Technology

The Radiation Oncology Market has been segmented by Technology into Brachytherapy and Others.

Brachytherapy

Brachytherapy, a specialized form of internal radiation therapy, involves placing radioactive materials directly at or near the tumor site, delivering precise and high-dose radiation while minimizing exposure to healthy tissues. In 2023, High-Dose Rate (HDR) brachytherapy accounted for roughly 72% of the brachytherapy market share. This technology’s ability to offer targeted treatment, shorter session durations, and fewer side effects makes it a preferred choice in treating cancers such as prostate, cervical, and breast cancer.

Others

The 'Others' category in radiation oncology includes advanced techniques like Image-Guided Radiotherapy (IGRT), Intensity-Modulated Radiotherapy (IMRT), Stereotactic Body Radiotherapy (SBRT), and Proton Beam Therapy. Among these, IMRT stands out, holding the largest revenue share of approximately 24.06% in 2024. These innovative technologies enhance the precision of tumor targeting, improve treatment outcomes, and significantly reduce the risk of damaging surrounding healthy tissues, contributing to their growing adoption in oncology care.

Radiation Oncology Market, Segmentation by Application

The Radiation Oncology Market has been segmented by Application into Breast Cancer, Lung Cancer, Penile Cancer, Prostate Cancer, and Others

Breast Cancer

Breast cancer is the primary application in the radiation oncology market, holding the largest market share as of 2024. The widespread adoption of external beam radiation therapy (EBRT) has significantly improved treatment outcomes for breast cancer patients. Contributing factors include advances in radiation technologies, increased awareness, and early diagnosis initiatives, driving continuous growth in this segment.

Lung Cancer

Lung cancer represents a key segment in the radiation oncology landscape due to its high global incidence. The adoption of advanced radiation therapies such as stereotactic body radiation therapy (SBRT) and intensity-modulated radiation therapy (IMRT) has enhanced precision and effectiveness. These innovations are contributing to improved patient outcomes and expanded treatment possibilities for lung cancer cases.

Penile Cancer

Although penile cancer is a rarer form of cancer, it plays an important role in the radiation oncology market. The market for penile cancer treatment is projected to grow at a CAGR of approximately 7.2% from 2024 to 2028, driven by increased awareness and advances in diagnostic capabilities. Radiation therapy is a vital option for patients who are not suitable candidates for surgery.

Prostate Cancer

Prostate cancer holds the second-largest share in the radiation oncology market, with the segment valued at approximately USD 1.96 billion in 2024 and projected to reach nearly USD 15.19 billion by 2032, reflecting a CAGR of about 28.8%. The increasing incidence of prostate cancer and innovations in radiation treatment technologies are key factors propelling market growth.

Others

The ‘Others’ category includes various cancer types treated with radiation therapy, such as head and neck cancers, cervical cancer, and colorectal cancer. This segment benefits from continuous innovations in radiation oncology and the expanding range of cancers for which radiation therapy is recognized as an effective treatment modality.

Radiation Oncology Market, Segmentation by Geography

In this report, the Radiation Oncology Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Regions and Countries Analyzed in this Report

Legend

North America

Rest of North America

Europe

Rest of Europe

Asia Pacific

Rest of Asia Pacific

Middle East and Africa

Rest of Middle East and Africa

Latin America

Rest of Latin America

Rest of the World

Radiation Oncology Market Share (%), by Geographical Region

North America

North America leads the global radiation oncology market, accounting for around 45.52% of total market share in 2023. This dominance is supported by advanced healthcare infrastructure, substantial investments in radiation therapies, and a high prevalence of cancer. The U.S. market alone was valued at approximately USD 7.19 billion in 2024, with projections reaching nearly USD 14.56 billion by 2033, representing a CAGR of about 8.15%.

Europe

Europe holds a strong position in the radiation oncology market, with a market size of roughly USD 3,317.21 million in 2023, expected to reach around USD 8,723.07 million by 2031. This reflects a CAGR of approximately 12.8% from 2023 to 2031. Growth is driven by increased adoption of advanced radiotherapy techniques and supportive government initiatives, particularly in countries like Germany, France, and the UK.

Asia Pacific

Asia Pacific is experiencing rapid growth in the radiation oncology market, with a market size estimated at USD 2,167.8 million in 2024. The region is projected to expand at a CAGR of about 15.2% through 2031. Key drivers include rising cancer incidence, higher healthcare spending, and accelerated adoption of radiation therapies, with China and India together representing over 60% of the regional market share.

Middle East and Africa

The Middle East and Africa region is showing steady progress in the radiation oncology sector, with a market value of approximately USD 172.24 million in 2023 and an expected rise to nearly USD 304.71 million by 2031, indicating a CAGR of about 7.4%

Radiation Oncology Market Trends

This report provides an in depth analysis of various factors that impact the dynamics of Radiation Oncology Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Comprehensive Market Impact Matrix

This matrix outlines how core market forces—Drivers, Restraints, and Opportunities—affect key business dimensions including Growth, Competition, Customer Behavior, Regulation, and Innovation.

Market Forces ↓ / Impact Areas →	Market Growth Rate	Competitive Landscape	Customer Behavior	Regulatory Influence	Innovation Potential
Drivers	High impact (e.g., tech adoption, rising demand)	Encourages new entrants and fosters expansion	Increases usage and enhances demand elasticity	Often aligns with progressive policy trends	Fuels R&D initiatives and product development
Restraints	Slows growth (e.g., high costs, supply chain issues)	Raises entry barriers and may drive market consolidation	Deters consumption due to friction or low awareness	Introduces compliance hurdles and regulatory risks	Limits innovation appetite and risk tolerance
Opportunities	Unlocks new segments or untapped geographies	Creates white space for innovation and M&A	Opens new use cases and shifts consumer preferences	Policy shifts may offer strategic advantages	Sparks disruptive innovation and strategic alliances

Drivers, Restraints and Opportunities

Drivers:

Increasing Cancer Incidence Worldwide
Technological Advancements in Radiation Therapy
Growing Investments in Healthcare Infrastructure- Growing investments in healthcare infrastructure are a key force accelerating the adoption of radiation oncology technologies. Increased budget allocations by both governments and private healthcare providers have led to the modernization of oncology departments and the integration of state-of-the-art radiotherapy systems into hospitals and cancer centers. These developments reflect the rising priority of cancer treatment in national and institutional healthcare strategies.

Advanced equipment such as linear accelerators, image-guided radiation systems, and proton therapy machines are becoming more accessible, particularly in middle-income and developing countries. These systems significantly enhance treatment accuracy while supporting greater patient volumes, thus improving overall operational efficiency in oncology care.

Infrastructure projects in underserved regions are helping to improve access to radiation therapy. Public-private partnerships and international funding programs are enabling the deployment of cancer treatment technologies to rural and urban fringe areas, which historically lacked comprehensive oncology services. As infrastructure and accessibility continue to expand, the demand for associated services such as treatment planning software, medical imaging, and skilled personnel is expected to rise. This ecosystem-wide growth is likely to support consistent advancement within the radiation oncology market.

Restraints:

High Cost of Radiation Therapy
Limited Availability of Skilled Personnel
Potential Side Effects of Radiation Treatment- One of the major concerns in the field is the potential side effects associated with radiation treatment, which can deter both physicians and patients from fully embracing these modalities. Common issues like fatigue, skin irritation, and tissue inflammation often arise, while more severe long-term risks such as organ damage or secondary cancers may develop in some cases. These risks contribute to patient hesitation, especially when less aggressive alternatives are available. In some clinical scenarios, this hesitation may shift the treatment decision-making process away from radiation-based options, thereby slowing its adoption even when it’s clinically appropriate.

The management of side effects places a strain on oncology departments, requiring more frequent monitoring, additional treatments, and longer follow-ups. These requirements raise both the cost and complexity of care, making radiation therapy a more resource-intensive option for healthcare providers. Although technological advancements like stereotactic and proton therapies are designed to reduce collateral damage to healthy tissues, their high cost and limited availability still restrict their use. As a result, the concern around side effects remains a significant restraint in market expansion.

Opportunities:

Expansion in Emerging Markets
Development of Innovative and Targeted Therapies
Integration with Digital Health Platforms and Telemedicine- The integration of digital health platforms and telemedicine into radiation oncology is creating new pathways for market development. Remote technologies are enabling faster and more collaborative workflows between oncologists, radiologists, and physicists, enhancing precision and treatment efficiency. Cloud-based tools are now routinely used for treatment planning, imaging analysis, and outcome tracking. Telemedicine has been particularly transformative, allowing patients in remote areas to consult specialists without the need for frequent travel. Follow-ups, initial assessments, and side effect evaluations can now be managed via secure digital platforms, which reduce patient burden and increase system-wide efficiency.

Integrated platforms support data-sharing and clinical decision-making in real time, fostering a collaborative and transparent care model. These innovations make it easier to adapt treatments based on emerging conditions or patient response, improving outcomes in complex cancer cases.As digital infrastructure in healthcare matures, companies are rapidly developing AI-powered software, automated workflow tools, and smart integration solutions tailored to radiation oncology. These technologies represent a long-term growth vector that aligns with evolving care delivery models and patient engagement strategies.

Radiation Oncology Market Competitive Landscape Analysis

Key players in Radiation Oncology Market include:

Elekta AB
Accuray Incorporated
IBA Radiopharma Solutions
BD (Becton, Dickinson and Company)
Isoray Inc.
Mevion Medical Systems
Nordion, Inc.
NTP Radioisotopes SOC Ltd.

In this report, the profile of each market player provides following information:

Company Overview and Product Portfolio
Market Share Analysis
Key Developments
Financial Overview
Strategies
Company SWOT Analysis

Introduction
1. Research Objectives and Assumptions
2. Research Methodology
3. Abbreviations
Market Definition & Study Scope
Executive Summary
1. Market Snapshot, By Type
2. Market Snapshot, By Technology
3. Market Snapshot, By Application
4. Market Snapshot, By Region
Radiation Oncology Market Dynamics
1. Drivers, Restraints and Opportunities
  1. Drivers
    1. Increasing Cancer Incidence Worldwide
    2. Technological Advancements in Radiation Therapy
    3. Growing Investments in Healthcare Infrastructure
  2. Restraints
    1. High Cost of Radiation Therapy
    2. Limited Availability of Skilled Personnel
    3. Potential Side Effects of Radiation Treatment
  3. Opportunities
    1. Expansion in Emerging Markets
    2. Development of Innovative and Targeted Therapies
    3. Integration with Digital Health Platforms and Telemedicine
2. PEST Analysis
  1. Political Analysis
  2. Economic Analysis
  3. Social Analysis
  4. Technological Analysis
3. Porter's Analysis
  1. Bargaining Power of Suppliers
  2. Bargaining Power of Buyers
  3. Threat of Substitutes
  4. Threat of New Entrants
  5. Competitive Rivalry
Market Segmentation
1. Radiation Oncology Market, By Type, 2021 - 2031 (USD Million)
  1. External Beam Radiation Therapy
  2. Internal Beam Radiation Therapy
2. Radiation Oncology Market, By Technology, 2021 - 2031 (USD Million)
  1. Brachytherapy
  2. Others
3. Radiation Oncology Market, By Application, 2021 - 2031 (USD Million)
  1. Breast Cancer
  2. Lung Cancer
  3. Penile Cancer
  4. Prostate Cancer
  5. Others
4. Radiation Oncology Market, By Geography, 2021 - 2031 (USD Million)
  1. North America
    1. United States
    2. Canada
  2. Europe
    1. Germany
    2. United Kingdom
    3. France
    4. Italy
    5. Spain
    6. Nordic
    7. Benelux
    8. Rest of Europe
  3. Asia Pacific
    1. Japan
    2. China
    3. India
    4. Australia & New Zealand
    5. South Korea
    6. ASEAN (Association of South East Asian Countries)
    7. Rest of Asia Pacific
  4. Middle East & Africa
    1. GCC
    2. Israel
    3. South Africa
    4. Rest of Middle East & Africa
  5. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
    4. Rest of Latin America
Competitive Landscape
1. Company Profiles
  1. Elekta AB
  2. Accuray Incorporated
  3. IBA Radiopharma Solutions
  4. BD (Becton, Dickinson and Company)
  5. Isoray Inc.
  6. Mevion Medical Systems
  7. Nordion, Inc.
  8. NTP Radioisotopes SOC Ltd.
Analyst Views
Future Outlook of the Market