Radiation Therapy in Oncology Market Anticipated to Reach USD 15.43 Billion by 2034, Expanding at a CAGR of 7.8%

Global Radiation Therapy in the Oncology Market size and share is currently valued at USD 7.30 billion in 2024 and is anticipated to generate an estimated revenue of USD 15.43 billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 7.8% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 – 2034

Market Definition

The radiation therapy market in oncology encompasses equipment and services used to treat cancer by delivering controlled doses of radiation to kill or damage cancer cells. Techniques include external beam radiation, brachytherapy, and proton therapy. Increased cancer incidence, technological innovations (like image-guided and stereotactic therapy), and rising healthcare investments fuel market growth. Hospitals, cancer centers, and research institutions are primary users. Key players focus on precision and minimizing side effects. While high equipment costs and lack of access in developing regions pose challenges, ongoing advancements and integration with AI and imaging technologies are expanding the effectiveness and adoption of radiation therapy.

Key Report Highlights

The report highlights the key region that accounts for the highest revenue share in the global Radiation Therapy in the Oncology market.
It identifies the leading country within this region that makes a significant contribution to the market’s overall performance.
The report outlines the dominant segment that holds a major share of the market.
It also emphasizes the fastest-growing segment projected to gain strong traction during the forecast period.
Qualitative and quantitative market analysis have been used to provide an in-depth understanding of the market.

Market Overview: Key Figures at a Glance

Market Value in 2024: USD 7.30 billion
Projected Market Size in 2034: USD 15.43 billion
Anticipated CAGR (2025-2034): 7.8%

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Market Growth Drivers

The radiation therapy market is expanding due to the increasing global cancer burden and the demand for precise, non-invasive treatment options. Technological advancements, including image-guided radiotherapy (IGRT), proton therapy, and stereotactic body radiotherapy (SBRT), have improved treatment outcomes and reduced side effects. Rising healthcare infrastructure in developing nations and increasing government initiatives to provide affordable cancer care are crucial growth drivers. Additionally, growing awareness among patients and clinicians about the benefits of early-stage radiation intervention is enhancing uptake. Collaborations between public and private institutions for research and equipment modernization continue to support the evolution and accessibility of radiation therapy.

Market Key Players

The competitive landscape features a mix of long-standing companies and emerging contenders. Leading players are actively pursuing R&D initiatives and strategic moves to strengthen their market position. Notable participants include