The North America Radiation Oncology Market would witness market growth of 7.2% CAGR during the forecast period (2022-2028).
Ionizing radiation from radioactive sources or beam generators is used in radiation therapy to destroy cancer cells that have developed in the patient's body. To deliver higher radiation doses to the tumor while sparing nearby healthy tissues, market companies are investing a lot of money in research and development of new multi-modality diagnostics procedures in radiation oncology. One such treatment approach that enables giving the tumor fewer high radiation oncology doses is the hypo fractionated radiation therapy (HFRT) process.
Hypofractionation is currently clinically accepted, however for effective application, it would need to be combined with cutting-edge functional imaging methods. Since HFRT eliminates the need for frequent hospital visits, which lowers the risk of virus exposure, it has become more widely used in medical facilities for the treatment of head and neck cancer due to the prevalence of coronavirus disease. The American and European Societies for Radiotherapy and Oncology (ASTRO-ESTRO) produced a consensus statement during the COVID-19 pandemic that strongly encourages the use of HFRT.
In 2019, North America spent 16.32% of its GDP on healthcare. Due to the things such as technological development and the availability of less invasive cancer treatment choices in developed countries, the market is growing. One in sixteen Americans may have lung cancer treatment in their lifetime, according to the National Cancer Institute of the US Department of Health and Human Services. Lung cancer affected more than 228,000 people in the US in 2018, with a new case being identified every 2.3 minutes.
The US market dominated the North America Radiation Oncology Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,252.9 million by 2028.The Canada market is poised to grow at a CAGR of 9.6% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 8.7% during (2022 - 2028).
Based on Application, the market is segmented into Breast Cancer, Gynecological Cancer, Colorectal Cancer, Lung Cancer, Prostate Cancer, Head & Neck Cancer, Gynecological Cancer and Others. Based on Type, the market is segmented into External Beam Radiation Therapy and Internal Beam Radiation Therapy. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Radiation Oncology Market is Estimated to reach $12.8 Billion by 2028, at a CAGR of 8.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Becton, Dickinson and Company, Varian Medical Systems, Inc., Ion Beam Applications SA, Elekta AB, Accuray Incorporated, Nordion Inc. (Sotera Health LLC), Isoray Inc., Mevion Medical Systems, Inc., Provision Healthcare, and Panacea Medical Technologies Pvt. Ltd.
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