Radiation Oncology Market Size, Share & Trends Analysis Report By Type (External Beam Radiation Therapy, Internal Beam Radiation Therapy), By Technology, By Application, By Region, And Segment Forecasts, 2025 - 2030

Radiation Oncology Market Growth & Trends

The global radiation oncology market size is expected to reach USD 21.19 billion in 2030 and is projected to grow at a CAGR of 11.17% from 2025 to 2030, according to a new report by Grand View Research, Inc. The growth of the market is attributed to the global rise in cancer burden, the growing geriatric population, and supportive reimbursement programs undertaken by the government and private organizations. Furthermore, the increasing technological innovation and advancement in radiotherapy offer lucrative opportunities for market growth.

The world is witnessing an increasing prevalence of cancer cases which is the key factor driving the radiation oncology market growth. For instance, according to Globocan, in 2020, more than 20.0 million people were diagnosed with cancer, and 10.0 million died of cancer. Moreover, the aging population is at high risk of cancer due to a weak immune system and comorbid conditions; thereby, the rising geriatric population further fuels market growth. For instance, in 2020, according to WHO estimates, the global geriatric population was approximately 1.0 billion and is expected to reach 2.1 billion by 2050.

Extensive research activities for the development of novel radiotherapy techniques and multidisciplinary therapeutic approaches are expected to lead to an increased survival rate and a more favorable prognosis of cancer. For instance, in December 2022, Elekta Unity demonstrated MR-Linac use for pancreatic tumors, where the first-ever patient was treated with new advanced radiotherapy motion management.

Similarly, in June 2020, Isoray signed a research agreement with the University of Cincinnati Physicians Company to study neck and head cancer treatment. The companies will evaluate the efficacy of Keytruda along with Cesium-131 post-surgical resection. Using such medical isotopes for cancer treatment may boost the research in developing a new target-specific radiation therapy system by understanding disease complexity & patients' need, thereby widening the opportunity in the market.

Furthermore, supportive reimbursement and regulatory policies for radiation therapy are also expected to drive the radiation oncology market growth. For instance, in July 2021, the Centers for Medicare and Medicaid Services (CMS) developed a new Radiation Oncology Payment Model (RO-APM) for the diagnosis of cancer and radiotherapy services. It enhances the quality of care of the patients and reduces the annual Medicare expenditure.

Radiation Oncology Market Report Highlights

• The external beam radiation therapy (EBRT) market, which includes linear accelerators (Linac), and compact advanced radiotherapy systems, dominated the overall market with the largest revenue share in 2024 due to increased adoption in the treatment of various types of cancers
• The IMRT segment held the largest revenue share of 24.06% in 2024, attributed to the substantial demand for treatment and increased availability of technologically advanced intensity-modulated radiotherapy (IMRT) in countries with unmet treatment needs.
• The EBRT segment for prostate cancer held the largest revenue share of 58.65% in 2024 and is anticipated to maintain its dominance over the forecast period
• The market for IBRT is anticipated to witness significant growth over the forecast period due to the growing prevalence of cancer in developing countries and increased product penetration
• North America radiation oncology industry dominated globally in terms of revenue share of 47.16% in 2024, owing to the favorable government initiatives and availability of technologically advanced radiotherapy equipment

Please note The report will be delivered in 2-3 business days upon order notification.