Radiation Oncology Industry Overview The global radiation oncology market size is expected to reach USD 11.7 billion by 2028, registering a CAGR of 7.0% over the forecast period, according to a new report by Grand View Research, Inc. The rising incidence of cancer and technological advancement in radiation therapy equipment are some of the major factors driving the growth of the market. There have been various technological advancements in radiotherapy equipment over the last decade, which has been a major factor for growth. Advancement from 2D to 3D conformal radiotherapy, motion tracking, and real-time imaging has helped improve radiation targeting and thereby reduce exposure to the surrounding healthy tissues. For instance, Accuray Incorporated introduced its motion monitoring and correction tools, Synchrony, for the Radixact device in April 2019. In contrast to traditional radiotherapy devices, this technology increases dosage accuracy and treatment times and is comparatively more effective. Radiation Oncology Market Segmentation Grand View Research has segmented the global radiation oncology market on the basis of type, technology, application, and region: Based on the Type Insights, the market is segmented into EBRT, Proton Therapy, Internal Beam Radiation Therapy.
Based on the Technology Insights, the market is segmented into EBRT, Brachytherapy.
Based on the Application Insights, the market is segmented into EBRT, Internal Beam Radiation Therapy.
Radiation Oncology Regional Outlook
Key Companies Profile & Market Share Insights The key companies are adopting strategies such as mergers and acquisitions and partnerships, to acquire a larger market share, globally. In August 2020, Siemens Healthcare GmbH announced its plans to acquire Varian Medical Systems, Inc. for USD 16.4 billion. The deal is expected to be completed by H1 2020. Some prominent players in the global radiation oncology market include
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