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U.S. Radiation Oncology Market Worth $3.9 Billion By 2027: Grand View Research, Inc.

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U.S. Radiation Oncology Market Worth $3.9 Billion By 2027: Grand View Research, Inc.

September 15
20:22 2020
U.S. Radiation Oncology Market Worth $3.9 Billion By 2027: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
The U.S. radiation oncology market size was valued at USD 2.6 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2020 to 2027.

The U.S. radiation oncology market size is expected to reach USD 3.9 billion by 2027, expanding at a CAGR of 5.0%, according to a new report by Grand View Research, Inc. Increasing the prevalence of cancer and technological advancements in radiation oncology are some of the key factors responsible for market growth.

Advancements in technologies are anticipated to reduce the adverse effects of radiotherapy and improve its overall quality. In addition, newer therapies tend to be more efficient than their traditional counterparts. For instance, SBRT was found to be efficient in treating laryngeal cancer with only five treatment fractions, as per a clinical trial that is expected to be completed by 2021.

Advancements in radiation oncology can enable the delivery of a high dose to a target area without any damage to adjacent healthy tissues. This has increased the chances of localized tumor control and improved cure rates, leading to an increase in demand for the therapy. Therefore, hospitals and ambulatory healthcare providers are installing more equipment, which, in turn, is boosting the market growth.

The U.S radiation oncology market size, by type, 2016 - 2027 (USD Billion)

Request a sample Copy of the Global U.S. Radiation Oncology Market Research Report @ https://www.grandviewresearch.com/industry-analysis/us-radiation-oncology-market/request/rs1

The rapid adoption of autosamplers attached to analytical systems has led to an increase in lab productivity. The analytical chemists can now produce high-quality data without being present in the lab, continuously. The device provides better reproducibility, high accuracy, and also minimizes error in sampling. It also has the capacity to house the multiple numbers of sample vials in each sequence and hence making it convenient to run various samples that require similar analysis conditions.

Also, to speed up the R&D in areas such as pharmacokinetics, it has become increasingly necessary to analyze a large number of samples at high speed and high precision. Hence, Shimadzu Corporation developed Nexera MP Ultra High Performance Liquid Chromatograph utilizing the SIL-30ACMP Multiplate Autosampler. It achieves an ultrafast injection performance enabling a maximum of 2304 samples to be analyzed continuously.

In Asia Pacific, the market is anticipated to account for the highest CAGR over the forecast period. This is attributed to the growth of the pharmaceutical and biotechnology industry in the region, which, in turn, is driving demand for advanced medical devices in the region. For instance, according to OECD, in the U.S., the number of radiotherapy equipment, which included linear accelerators, Caesium-137 therapy units, Cobalt-60 units, HDR and LDR brachytherapy units, and conventional brachytherapy units, was 11.7 per 1000,000 inhabitants in 2019.

In addition, increasing radiotherapy centers in the U.S. is anticipated to boost the market growth. In January 2020, the University of Alabama at Birmingham inaugurated its proton therapy center of Proton International. The center was formed through a partnership between Proton International and the UAB. Out of 36 proton cancer centers in the U.S., Proton International at UAB was the first facility opened in Alabama.

The high adoption of cyclotrons is anticipated to drive the market. For instance, in March 2019, the University of Alabama at Birmingham installed a 90-ton cyclotron in its proton therapy center. Installation of a cyclotron will drive R&D activities in the country and help meet the demand for isotopes.

Key players tend to undertake strategic initiatives such as collaborations, licensing, and partnerships to adopt new systems that can reduce cost and space; such initiatives are expected to drive the market. For instance, in June 2020, Accuray Incorporated launched the CyberKnife S7 System, which offers advanced technologies including real-time AI-driven motion tracking and synchronized treatment delivery. It can provide all SBRT treatments and Stereotactic Radio Surgeries (SRS) within 15 minutes.

Key suggestions from the report:

  • External Beam Radiotherapy (EBRT) dominated the market in 2019 owing to innovation in technology used in cancer treatment and an increase in the prevalence of cancer
  • In 2019, Electron-emitting high energy linear accelerators held the largest revenue share as a result of an increase in usage due to technological revolution, an increase in capability to provide precise treatment services, and favorable reimbursement policies
  • On the basis of technology, Intensity Modulated Radiotherapy (IMRT) dominated the application segment in 2019 due to its ability to change radiation intensity during treatment so as to specifically target cancer cells and limit the damage to adjoining healthy tissues
  • In application, internal beam radiation therapy is estimated to witness the fastest growth rate during the forecast period owing to the cost-effectiveness and accuracy of brachytherapy.

The U.S. radiation oncology market share, by application, 2019 (%)

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Grand View Research has segmented the U.S. radiation oncology market on the basis of type, technology, and application:

The U.S. Radiation Oncology Type Outlook (Volume, Units; Revenue, USD Million, 2016 – 2027)

  • External Beam Radiation Therapy
    • Electron-Emitting High-Energy Linear Accelerators (Linac)
    • Compact Advanced Radiotherapy Systems
      • Cyberknife
      • Gamma Knife
      • Tomotherapy
    • Proton Therapy
      • Cyclotron
      • Synchrotron
  • Internal Beam Radiation Therapy
    • Brachytherapy
      • Seeds
      • Applicators and Afterloaders
      • Electronic Brachytherapy
    • Systemic Beam Radiation Therapy
    • Others

The U.S. Radiation Oncology Technology Outlook (Volume, Units; Revenue, USD Million, 2016 – 2027)

  • External Beam Radiation Therapy
    • Image-Guided Radiotherapy (IGRT)
    • Intensity Modulated Radiotherapy (IMRT)
    • Stereotactic Technology
    • Proton Beam Therapy
    • 3D Conformal Radiotherapy (3D CRT)
    • Volumetric Modulated Arc Therapy (VMAT)
  • Brachytherapy
    • Low-Dose Rate Brachytherapy
    • High-Dose Rate Brachytherapy

The U.S. Radiation Oncology Application Outlook (Volume, Number of Procedures; Revenue, USD Million, 2016 – 2027)

  • External Beam Radiation Therapy
    • Prostate Cancer
    • Breast Cancer
    • Lung Cancer
    • Head and Neck Cancer
    • Colorectal Cancer
    • Others
  • Internal Beam Radiation Therapy
    • Prostate Cancer
    • Gynecological Cancer
    • Breast Cancer
    • Cervical Cancer
    • Penile Cancer
    • Others
    • Brachytherapy
      • Prostate Cancer
      • Gynecological Cancer
      • Breast Cancer
      • Cervical Cancer

List of Key Players in the U.S. Radiation Oncology Market

  • Elekta AB
  • Accuray Incorporated
  • Mevion Medical Systems, Inc.
  • Varian Medical Systems
  • C.R. Bard, Inc.
  • Ion Beam Applications SA

Find more research reports on Medical Devices Industry, by Grand View Research:

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/us-radiation-oncology-market


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