Radiation Therapy Market Size to Achieve USD 12.93 Bn by 2034

The global radiation therapy market size is calculated at USD 7.86 billion in 2025 and is expected to reach around USD 12.93 billion by 2034, growing at a CAGR of 5.73% for the forecasted period.

/EIN News/ -- Ottawa, Feb. 20, 2025 (GLOBE NEWSWIRE) -- The global radiation therapy market size was valued at USD 7.44 billion in 2024 and is predicted to hit around USD 12.23 billion by 2033, a study published by Towards Healthcare a sister firm of Precedence Statistics.

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Radiation Therapy Market Overview and Key Statistics

High doses of radiation are used in radiation therapy, commonly known as radiotherapy, to destroy cancer cells and reduce tumor size. Radiation therapy is one of the most widely used cancer treatments. Radiation therapy is part of the treatment for almost half of cancer patients. Radiation oncologists can destroy cancer cells while sparing healthy body parts thanks to radiation therapy, a highly targeted treatment. Radiation therapy has improved the quality of life for cancer patients by becoming faster and more precise, which has greatly decreased adverse effects.

About 20 million new instances of cancer were diagnosed in 2022, and the disease claimed 9.7 million lives globally. Based only on expected population growth, it is estimated that there will be 35 million cases of cancer by 2050. With about 2.5 million diagnoses (1 in 8 cancers) and 1.8 million fatalities (1 in 5 deaths), lung cancer is the most prevalent cancer diagnosed and the leading cause of cancer death globally. Asia, which is home to 59% of the world's population, saw the diagnosis of about 49% of all new cancer cases. Twenty-four percent of all cases (4.8 million) occurred in China alone.

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Driving Factors for Market Growth

Technological advancements

The continuous development of radiation depends on technology. The development of modern "high-tech" radiation oncology has been paved with discoveries and technological breakthroughs made possible by interdisciplinary teamwork. Over the past few decades, a huge technological revolution has greatly expanded the capacity to produce complex dosage distributions in a safe and accurate manner.

Personalization of radiotherapy

In recent years, the ideas of customized oncology and personalized medicine have gradually gained traction. Customizing the course of therapy is at the heart of personalized care in radiation oncology. This entails modifying the radiation dosage, length of therapy, and method according to the characteristics of the patient. It seeks to increase the efficacy of cancer treatment while minimizing damage to healthy tissues. Additionally, it greatly increases the likelihood of a successful course of treatment. A paradigm shift and a significant turning point in the quest for more accurate, efficient, and patient-centered cancer therapy is represented by the incorporation of personalized medicine into radiation oncology.

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Opportunities in the Radiation Therapy Market

• In November 2024, ARC Innovation revealed that Starget Pharma, a business that specializes in targeted radiation and accurate cancer diagnostics, had successfully raised $5.1 million in its investment round. To date, Starget Pharma has raised $10 million, and it is using AI technology to speed up the creation of customized cancer treatments.
• In October 2024, Leo Cancer Care is pleased to announce the launch of UPLIFT, a multi-million euro research and training project focused on upright radiotherapy. The objective of this endeavor is to facilitate the advancement and integration of upright radiotherapy in the realm of radiation therapy.
• In October 2024, after four years of tenacious lobbying by Radiation UK and our incredible supporters, the government approved a £70 million investment in new radiation therapy equipment.
  

Regional Insights

The rising new product launches are driving North America.

North America held the largest share of the radiation therapy market in 2024. Over the course of the projection period, North America's radiation treatment market is anticipated to increase significantly. The rising incidence and prevalence of malignancies, the existence of major companies in the area, and the introduction of innovative products are some of the reasons driving the market's expansion.

Breast cancer is the most frequent cancer among women in the United States, according to data published by the American Cancer Society in January 2023. Every year, it makes up 30% (or 1 in 3) of all new malignancies in women in the nation. According to the same source, by the end of 2023, women will receive diagnoses for about 297,790 new instances of invasive breast cancer and 55,720 new cases of ductal carcinoma in situ (DCIS). It is expected that the nation's need for radiation would be driven by the prevalence of cancer. As a result, the country's high cancer incidence and prevalence need the development of sophisticated radiation treatments, which are also expected to fuel regional market expansion. Furthermore, the major regional players are actively involved in a number of advances pertaining to radiotherapy, which is propelling the expansion of the regional market.

Rising government initiatives are driving the Asia Pacific.

Asia Pacific is expected to host a significantly growing radiation therapy market during the forecast period. In countries like China, India, Japan, and South Korea, rapid economic expansion is making state-of-the-art medical facilities more accessible. Rising healthcare expenses, government initiatives, growing public knowledge of cancer treatment options, and an aging population base are some of the main factors propelling the Asia Pacific radiotherapy market. The sector is witnessing a surge in imports from major global corporations to meet domestic demand.

Numerous foreign original equipment manufacturers (OEMs) have also set up production sites or cooperated with local companies in high-potential countries. As a result, the gadgets are now less expensive, and there is a steady supply. As more technologically sophisticated products become accessible in the area, more individuals are opting for enhanced radiation therapy treatments.

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Market Segmentation

By type, the external beam radiotherapy segment held a major share of the radiation therapy market in 2024 and is estimated to grow at the fastest rate during the forecast period. In situations when the local illness is further advanced, EBRT is a wide but efficient cancer therapy method. External beam radiation treatment is the most widely utilized type of radiotherapy. A number of technical developments have increased the accuracy and results of external beam radiation.

By application, the breast cancer segment dominated the market in 2024. More than 3 million additional instances of breast cancer will occur annually worldwide by 2040, with low- and middle-income nations seeing the biggest increases. In women, breast cancer was the most common cause of cancer-related fatalities (15·4% of 4·3 million deaths) and the most common cancer diagnosed (23·8% of 9·7 million new cases).

By application, the prostate cancer segment held the second-major share of the radiation therapy market in 2024. Prostate cancer fatalities are expected to climb from 350,000 in 2020 to almost 700,000 by 2040, while the number of new cases is expected to rise from 1·4 million in 2020 to 2·9 million by 2040.

By end-use, the hospitals segment dominated the market in 2024. This is explained by the increase in the number of cancer patients as well as the rise in the use of different radiation treatments in medical facilities. In hospitals, surgeons are increasingly using intraoperative radiation therapy (IORT) because it allows for more effective radiation doses than traditional radiation treatment.

By end-use, the radiotherapy centers & ambulatory surgery centers segment is estimated to grow significantly in the radiation therapy market during the forecast period. This enables them to offer simplified and effective services, often with shorter wait times for patients. Additionally, cancer clinics might provide more flexible appointment scheduling and more tailored care. Ambulatory radiation clinics are becoming more and more necessary as outpatient therapy settings are more practical, less costly, and less taxing on patients than in-hospital treatments.

Competitive Landscape

Accuray Incorporated, Brainlab AG, Curium, Canon Medical Systems Corporation, Elekta AB, Hitachi High-Tech Corporation, IBA Radiopharma Solution, Isoray Inc., Mevion Medical Systems, Mitsubishi Electric Corporation, Nordion, Inc., NTP Radioisotopes SOC Ltd., RefleXion, Toshiba Energy Systems & Solutions Corporation, and Varian Medical Systems, Inc.

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Recent Developments

• In February 2025, at its Orsay location, it started a project of unmatched magnitude called FRATHEA (Flash Radiation Therapy Electron Acceleration). Under the direction of Institut Curie and in partnership with CEA, the 37 million euro FRATHEA project is financed by the Île-de-France Region and France 2030.
• In December 2024, the clinical-stage biotechnology company TME Pharma N.V., which focuses on creating innovative treatments for cancer by targeting the tumor microenvironment (TME), announced the opening of a €2.6 million financing round. The financing will be conducted through a public offering of 52,000,000 new shares without preferential subscription rights.
• In June 2024, the radiopharmaceutical medication business ITM collected 188 million euros, or about $205 million, to fund the development of customized radiation treatment for cancer.
  

Segments Covered in the Report

By Type

• External beam radiation therapy
  • Intensity-modulated radiation therapy (IMRT)
  • Image-guided radiation therapy (IGRT)
  • Proton therapy
  • Other external radiation therapies
• Internal radiation therapy
• Systemic radiation therapy
  

By Application

• Breast cancer
• Prostate cancer
• Cervical cancer
• Head & neck cancer
• Other applications
  

By End-use

• Hospitals
• Radiotherapy centers & ambulatory surgery centers
• Cancer research institutes
  

By Region

• North America
  • U.S.
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Thailand
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Sweden
  • Denmark
  • Norway
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa (MEA)
  • South Africa
  • UAE
  • Saudi Arabia
  • Kuwait
    

Discover our detailed Table of Contents (TOC) for the Radiation Therapy Market @ https://www.towardshealthcare.com/table-of-content/radiation-therapy-market-sizing

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