The Radiation oncology is a medical sphere that utilizes high energy radiation such as X-rays, gamma rays, electrons or protons for the treatment of cancer. Such high energy ionizing radiation damages the nucleic acids, either indirectly or directly, with the formation of reactive oxygen species and free radicals. Radiation treatment can be utilized in the combination with the surgery, immunotherapy, and chemotherapy. Additionally, the key players of this market are playing an important role by developing the techniques of doing work and advancements in the technology of treatment which further is beneficial for leading the fastest market growth and increasing the demand. This also helpful for the players as with the effective developments and augmented in the demand enable them to attain the highest share across the globe in the coming years.
According to the report analysis, ‘Global Radiation Oncology Market Outlook’ states that there are several key players which are recently functioning in this market more actively for leading the fastest market growth and attaining the highest market share around the globe by doing analyzation and investigation on the related aspects of this market which beneficial for generating a high amount of revenue more significantly includes Accuray Incorporated, Elekta AB, Varian Medical Systems, C.R. Bard, Inc., IBA Worldwide, Carl Zeiss Meditec AG, Mevion Medical Systems, Nordion, Inc., IsoRay, Inc., Hitachi Medical Corporation, ViewRay, Inc., and other predominate & niche players. Additionally, According to the study of the World Health Organization, around 14 million new cancer cases were diagnosed and are predicted to grow by about 70% over the next 2 decades. Accumulative cancer cases and growing acceptance of non-invasive processes in emerging countries are anticipated to drive the growth of the radiation oncology market in the near future more positively.
The Global Radiation Oncology market is projected to witness a significant CAGR of 6.7% during the forecast period of 2018-2024. Whereas, the global market of radiation oncology is segmented into a few sectors which includes therapy type, application, end-users, and region. While, on the basis of a therapy type, the market of radiation oncology is further divided into external beam radiation therapy, internal beam radiation therapy, and systemic radiation therapy. External beam radiation therapy employed the largest share in 2017 owing to its high usability, and it is an extremely effective treatment for several cancer types such as prostate cancer (that can cure up to 95% of cases). Moreover, on the basis of region, the market is spread across the globe which majorly includes North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is set to be the proficient region for the radiation oncology market growth followed by Europe, Asia Pacific, and Rest of the World.
Additionally, in the present era, external beam radiation therapy controls the global radiation oncology market. However, the key market players are attaining small companies to improve their product portfolio and reinforce their leadership position in the market. Apart from this, the main players are introducing the new radiation therapy products to have an edge in the market. Therefore, in the near future, it is expected that the market of radiation oncology will increase across the globe more significantly over the recent few years.
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