South & Central America Radiation Oncology Market Forecast to 2031 - Regional Analysis - by Types (External Beam Radiation Therapy and Internal Beam Radiation Therapy) and Application (Breast Cancer, Prostate Cancer, Lung Cancer, Head & Neck Cancer, Cervi

South & Central America Radiation Oncology Market Forecast to 2031 - Regional Analysis - by Types (External Beam Radiation Therapy and Internal Beam Radiation Therapy) and Application (Breast Cancer, Prostate Cancer, Lung Cancer, Head & Neck Cancer, Cervical Cancer, and Others)

The South & Central America radiation oncology market was valued at US$ 282.01 million in 2023 and is expected to reach US$ 765.31 million by 2031; it is estimated to record a CAGR of 13.3% from 2023 to 2031.

Strategic Initiatives in Radiation Oncology Fuel South & Central America Radiation Oncology Market

Radiation Oncology holds tremendous potential in cancer treatment. Additionally, constant evolution in radiotherapy by the market players in terms of product development, innovation, product launch, product approval, merger, acquisition and partnerships, and others is expected to contribute the market growth. Some of the recent strategic initiatives taken place in the market are

In May 2024, Elekta launched its latest linear accelerator (linac), Evo, a CT-Linac with new high-definition AI enhanced imaging, capable of delivering offline and online adaptive radiation therapy as well as improved standard image-guided radiation therapy treatments. In May 2024, GE HealthCare launched Revolution RT, a new radiation therapy computed tomography (CT) solution with innovative hardware and software solutions to help increase imaging accuracy, while simplifying simulation workflow for a more personalized and seamless oncology care pathway experience for clinicians and patients. In April 2024, Accuray Incorporated showcased advancement in hardware and software designed to improve the cancer treatment experience, at ESTRO 2024. The latest generation CyberKnife and Radixact platforms provide medical care teams with the technology necessary for expanding the curative power of radiation therapy and delivering on the focus of this year's congress, bridging the care gap. In September 2023, MVision AI launched the first comprehensive Guideline-Based Segmentation (GBS) solution for effective radiation therapy contouring. Guide facilitates clinical teams to accurately evaluate AI-generated structures, thus enabling them to refine their contouring skills. Verify allows visual and volumetric comparison of contours, facilitating clinics to observe similarities and differences. The combined implementation of Guide Verify and Contour+ encompasses all clinical needs in radiotherapy contouring. Therefore, surging strategic initiatives among market players operating in radiation oncology market which are expected to amplify the market growth and create ample opportunities for the radiation oncology market.

South & Central America Radiation Oncology Market Overview

Radiation treatment represents a pivotal approach for the treatment of cancer in Brazil, as clinical results of studies conducted in the country show 60-70% decrease in the incidence rate of lung cancer after the administration of this therapy. However, approximately 100,000 patients per year die without receiving adequate radiation therapy, which underlines the lack of access to a radiotherapy facility as a prime a social problem in Brazil. Healthcare facilities in Brazil are equipped with 30 radioactive cobalt-60 teletherapy machines and approximately 3,600 linear accelerators, but only 30% of radiotherapy facilities have access to IGRT. This therapy is essential for sophisticated treatments, such as IMRT, volumetric modulated arc therapy, and stereotactic body radiation treatment (SBRT). Hence, the Brazilian government is proactively focusing on developing radiation therapy centers to provide support to the country's cancer management efforts.

South & Central America Radiation Oncology Market Revenue and Forecast to 2031 (US$ Million)

South & Central America Radiation Oncology Market Segmentation

The South & Central America radiation oncology market is categorized into types, application and country.

Based on types, the South & Central America radiation oncology market is bifurcated into external beam radiation therapy and internal beam radiation therapy. The external beam radiation therapy segment held a larger market share in 2023.

In terms of application, the South & Central America radiation oncology market is categorized into breast cancer, prostate cancer, lung cancer, head and neck cancer, cervical cancer, and others. The breast cancer segment held the largest market share in 2023.

By country, the South & Central America radiation oncology market is segmented into Brazil, Argentina, and the Rest of South & Central America. The Rest of South & Central America dominated the South & Central America radiation oncology market share in 2023.

Varian Medical Systems Inc, Elekta AB, IBA Worldwide (Ion Beam Applications SA), Becton Dickinson and Co, Mallinckrodt Plc, and Curium are some of the leading companies operating in the South & Central America radiation oncology market.

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