North America Radiation Oncology Market

North America Radiation Oncology Market Size (2023 to 2028)

The market size for radiation oncology in the North American region is forecasted to grow to USD 2.41 billion by 2028 from USD 1.85 billion in 2023, growing at a CAGR of 5.39% from 2023 to 2028.

Y-O-Y rise in the prevalence of cancer in North American countries is majorly boosting the radiation oncology market in this region. In 2020, according to WHO, the international public health agency, cancer accounted for 10 million deaths, and in every 7th death, one had cancer. This is due to significant sedentary lifestyle choices, improper diet, and lack of exercise, causing people to be prone to cancer.

The rising usage of radiation therapy also drives the growth of the North American radiation oncology market in breast and prostate cancer cases. Due to developments like image-guided and intensity-modulated radiation therapy, digital imaging, and computer-controlled linear accelerators, radiation therapy has significantly transformed in the past ten years.

The radiation oncology market in North America is further anticipated to be boosted by the increase in demand for technologically superior treatment options, use of multimodality imaging, rising prevalence of cancer, increasing elderly population, expanding medicinal services awareness, and technological advancements in radiotherapy equipment, artificial Intelligence driven solution designed to deliver an entire adaptive treatment are the factors move the market forward.

3D Systems, a US 3D printer manufacturer, has announced its entry into the radiation oncology market with the launch of its new Virtual Surgical Planning or ‘VSP’ Bolus solution. It is designed to produce medical devices for cancer treatments; the VSP Bolus service allows clinicians to 3D print them at customized thicknesses, reducing air gaps between instruments and patients. As a result, it improves their therapeutic efficacy and patients’ survival chances.

However, lack of competent radiotherapy experts, stringent government regulations related to reimbursement & approval of radiation therapy equipment, lack of skilled IT professionals in the healthcare industry, insufficient medical infrastructure to support radiation equipment, and adverse effects noticed after radiation therapy are the factors that restrain the growth of the market. In addition, common side effects, including nausea, vomiting, and diarrhea, can occur after receiving multiple radiation doses in a single cycle. Therefore, radiation sickness and mortality are more severe problems.

This report on the North American radiation oncology market has been segmented and sub-segmented into the following categories.

By Type:

• External Beam Radiation Therapy

• Internal Radiation Therapy

• Systemic Radiation Therapy

By Application:

• Skin & Lip Cancer

• Head & Neck Cancer

• Breast Cancer

• Prostate Cancer

• Cervical Cancer

• Lung Cancer

• Spine Cancer

By End-User:

• Hospitals

• Cancer Research Institutes

• Ambulatory and Radiotherapy Centers

By Country:

• The United States

• Canada

• Rest of North America

The North American region accounted for a significant share of the global radiation oncology market in 2021, mainly due to the high use of advanced oncology procedures, advanced healthcare infrastructure, significant R&D investments, and high healthcare expenditure. In addition, market players focusing on developing innovative products for better patient management will prove advantageous for market expansion. In 2021, nearly 330,840 new breast cancer cases were diagnosed in the United States. Additionally, the U.S. Department of Government has conducted nine federal programs to encourage cancer prevention and early detection by providing additional support for better cancer treatment methods, projected to fuel the market's rise shortly. Nearly 75 percent of deaths from cancer occur in developing and underdeveloped nations. Head and neck cancer account for almost 6% of cancer cases in the United States.

The National Cancer Institute got USD 195 million from Congress in 2021 in support of the Cancer Moonshot program, launched recently to significantly lower cancer rates nationwide. In addition, the U.S. government proposed improvements to the program. Initiatives, government funding, and allocation are key factors expected to drive the adoption of oncology treatment devices and boost revenue growth of radiation therapy in the oncology market in the coming years. Increasing radiotherapy centers in the U.S. are anticipated to grow the market growth. The University of Alabama at Birmingham inaugurated its proton therapy center of Proton International in 2020. Proton International and the UAB have a partnership to form a center. Proton International at UAB was the first facility opened in Alabama out of 36 proton cancer centers in the U.S.

KEY MARKET PARTICIPANTS:

Companies playing a pivotal role in the North American radiation oncology market profiled in this report are Varian Medical Systems, Inc., Elekta AB, Accuray Incorporated, Ion Beam Applications (IBA), C.R. BARD, INC. (BD), Isoray Medical, Mevion Medical Systems, Inc., Nordion Inc., NTP Radioisotopes SOC Ltd., Curium Pharma, and Viewray Technologies, Inc.