According to a new market research report published by sheer analytics and insights, “The Radiation Oncology Market was $2.1 Bn in 2020, and it is expected to reach $5.6 Bn by 2031. It is eventually growing at a commendable high compound annual growth rate CAGR of 6.8% between 2021-2031, as per the latest market research report titled Global Radiation Oncology Market - Industry analysis, size, share, growth, trends, and forecast, 2021-2031.
The radiation oncology method is the increasing adoption of radiotherapy. Rising the prevalence of cancer and the latest technological advancements for cancer treatment are significant factors for market growth. As per reports, the number of cancer suffering patients is increasing. As per national cancer institution reports, around 1.8 million will be diagnosed for cancer in the year 2021. Thus, the demand for this market is increasing rapidly worldwide. However, the rising number of the diagnosis center, huge investment, and people demand are driving the Radiation oncology market growth in the forecast period.
However, the current pandemic of the COVID-19 makes some changes in the growth of the Radiation oncology market. As the number of people visiting in the hospitals reduce in that situation. Only emergency and OPD services are available for the people. Hence, according to the experts, the growth rate graph of the Radiation oncology market will take its actual position after this pandemic. Apart from that, the rising radiotherapy center across the world offers major opportunities for significant growth in the forecast period of 2021-2031.
Geographically, The Radiation Oncology Market is divided into global regions like North America, Europe, Asia- Pacific, Latin America, Middle East, and Africa.
Some of the key players in the Radiation Oncology Market include RaySearch Laboratories, Accuray Inc., C.R. Bard, Inc., Mevion Medical Systems, Ion Beam Applications (IBA)., Curium, Nordion Inc., IsoRay Medical Inc., Elekta Ab, Accuracy Incorporated, Varian Medical Systems, Inc., and Mitsuubishi Electric Corporation among others.
The Radiation Oncology Market Has Been Segmented into:
The Radiation Oncology Market: By Type
Radiation Oncology Market: By Technology
Radiation Oncology Market: By Application
Radiation Oncology Market: By Region