Product Code: BMIRE00030984
The Asia Pacific radiation oncology market was valued at US$ 1,105.74 million in 2023 and is expected to reach US$ 3,417.89 million by 2031; it is estimated to record a CAGR of 15.1% from 2023 to 2031.
Strategic Initiatives in Radiation Oncology Boost Asia Pacific Radiation Oncology Market
Radiation Oncology holds tremendous potential in cancer treatment. Additionally, constant evolution in radiotherapy by the market players in terms of product development, innovation, product launch, product approval, merger, acquisition and partnerships, and others is expected to contribute the market growth. Some of the recent strategic initiatives taken place in the market are
- In May 2024, Elekta launched its latest linear accelerator (linac), Evo, a CT-Linac with new high-definition AI enhanced imaging, capable of delivering offline and online adaptive radiation therapy as well as improved standard image-guided radiation therapy treatments.
- In May 2024, The Icon Group collaborated with Cyberknife Australia Pty Ltd to establish up to 6 new radiation oncology clinics (proposed joint venture), which will provide radiation oncology treatments using the 'Cyberknife' system.
- In May 2024, GE HealthCare launched Revolution RT, a new radiation therapy computed tomography (CT) solution with innovative hardware and software solutions to help increase imaging accuracy, while simplifying simulation workflow for a more personalized and seamless oncology care pathway experience for clinicians and patients.
- In April 2024, Accuray Incorporated showcased advancement in hardware and software designed to improve the cancer treatment experience, at ESTRO 2024. The latest generation CyberKnife and Radixact platforms provide medical care teams with the technology necessary for expanding the curative power of radiation therapy and delivering on the focus of this year's congress, bridging the care gap.
- In September 2023, MVision AI launched the first comprehensive Guideline-Based Segmentation (GBS) solution for effective radiation therapy contouring. Guide facilitates clinical teams to accurately evaluate AI-generated structures, thus enabling them to refine their contouring skills. Verify allows visual and volumetric comparison of contours, facilitating clinics to observe similarities and differences. The combined implementation of Guide Verify and Contour+ encompasses all clinical needs in radiotherapy contouring.
Therefore, surging strategic initiatives among market players operating in radiation oncology market which are expected to amplify the market growth and create ample opportunities for the radiation oncology market.
Asia Pacific Radiation Oncology Market Overview
The field of radiation oncology has been developing quickly in China due to significant technological advancements. Joint ventures have played a crucial role in increasing the accessibility of radiation oncology systems. With these initiatives, companies also focus on developing high-tech therapy products. China Isotope and Radiation Corporation (CIRC) and Accuray, a US-based developer of radiotherapy systems, established a joint venture in January 2019. This project uses Accuray's cutting-edge treatment solutions and local manufacturing capabilities to address the unmet needs in the Chinese market. Such initiatives demonstrate China's dedication to developing radiation oncology skills within the country, which would generate noteworthy prospects for the radiation oncology market in the coming years.
Asia Pacific Radiation Oncology Market Revenue and Forecast to 2031 (US$ Million)
Asia Pacific Radiation Oncology Market Segmentation
The Asia Pacific radiation oncology market is categorized into types, application, and country.
Based on types, the Asia Pacific radiation oncology market is bifurcated into external beam radiation therapy and internal beam radiation therapy. The external beam radiation therapy segment held a larger market share in 2023.
In terms of application, the Asia Pacific radiation oncology market is categorized into breast cancer, prostate cancer, lung cancer, head and neck cancer, cervical cancer, and others. The breast cancer segment held the largest market share in 2023.
By country, the Asia Pacific radiation oncology market is segmented into the China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific radiation oncology market share in 2023.
Varian Medical Systems Inc, Elekta AB, Accuray Incorporated, IBA Worldwide (Ion Beam Applications SA), Becton Dickinson and Co, Mevion Medical Systems, NTP RADIOISOTOPES, Mallinckrodt Plc, Panacea Medical Technologies Pvt. Ltd,, and Curium are some of the leading companies operating in the Asia Pacific radiation oncology market.
Table Of Contents
1. Introduction
- 1.1 The Insight Partners Research Report Guidance
- 1.2 Market Segmentation
2. Executive Summary
3. Research Methodology
- 3.1 Secondary Research
- 3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:
4. Asia Pacific Radiation Oncology Market - Key Market Dynamics
- 4.1 Market Drivers:
- 4.1.1 Increasing Prevalence of Cancer
- 4.1.2 Initiatives to Support Developments in Radiation Oncology
- 4.2 Market Restraints
- 4.2.1 High Cost of Radiotherapy Equipment
- 4.3 Market Opportunities
- 4.3.1 Strategic Initiatives in Radiation Oncology
- 4.4 Future Trends
- 4.4.1 Technological Advancement in Radiation Oncology
- 4.5 Impact of Drivers and Restraints:
5. Radiation Oncology Market - Asia Pacific Market Analysis
- 5.1 Radiation Oncology Market Revenue (US$ Million), 2021-2031
6. Asia Pacific Radiation Oncology Market Analysis - by Types
- 6.1 External Beam Radiation Therapy
- 6.1.1 Overview
- 6.1.2 External Beam Radiation Therapy: Radiation Oncology Market - Revenue and Forecast to 2031 (US$ Million)
- 6.2 Internal Beam Radiation Therapy
- 6.2.1 Overview
- 6.2.2 Internal Beam Radiation Therapy: Radiation Oncology Market - Revenue and Forecast to 2031 (US$ Million)
7. Asia Pacific Radiation Oncology Market Analysis - by Application
- 7.1 Breast Cancer
- 7.1.1 Overview
- 7.1.2 Breast Cancer: Radiation Oncology Market - Revenue and Forecast to 2031 (US$ Million)
- 7.2 Prostate Cancer
- 7.2.1 Overview
- 7.2.2 Prostate Cancer: Radiation Oncology Market - Revenue and Forecast to 2031 (US$ Million)
- 7.3 Lung Cancer
- 7.3.1 Overview
- 7.3.2 Lung Cancer: Radiation Oncology Market - Revenue and Forecast to 2031 (US$ Million)
- 7.4 Head and Neck Cancer
- 7.4.1 Overview
- 7.4.2 Head and Neck Cancer: Radiation Oncology Market - Revenue and Forecast to 2031 (US$ Million)
- 7.5 Cervical Cancer
- 7.5.1 Overview
- 7.5.2 Cervical Cancer: Radiation Oncology Market - Revenue and Forecast to 2031 (US$ Million)
- 7.6 Others
- 7.6.1 Overview
- 7.6.2 Others: Radiation Oncology Market - Revenue and Forecast to 2031 (US$ Million)
8. Asia Pacific Radiation Oncology Market - Country Analysis
- 8.1 Asia Pacific
- 8.1.1 Asia Pacific: Radiation Oncology Market - Revenue and Forecast Analysis - by Country
- 8.1.1.1 China: Radiation Oncology Market - Revenue and Forecast to 2031 (US$ Million)
- 8.1.1.1.1 China: Radiation Oncology Market Breakdown, by Types
- 8.1.1.1.2 China: Radiation Oncology Market Breakdown, by External Beam Radiation Therapy
- 8.1.1.1.3 China: Radiation Oncology Market Breakdown, by Internal Beam Radiation Therapy
- 8.1.1.1.4 China: Radiation Oncology Market Breakdown, by Application
- 8.1.1.2 Japan: Radiation Oncology Market - Revenue and Forecast to 2031 (US$ Million)
- 8.1.1.2.1 Japan: Radiation Oncology Market Breakdown, by Types
- 8.1.1.2.2 Japan: Radiation Oncology Market Breakdown, by External Beam Radiation Therapy
- 8.1.1.2.3 Japan: Radiation Oncology Market Breakdown, by Internal Beam Radiation Therapy
- 8.1.1.2.4 Japan: Radiation Oncology Market Breakdown, by Application
- 8.1.1.3 India: Radiation Oncology Market - Revenue and Forecast to 2031 (US$ Million)
- 8.1.1.3.1 India: Radiation Oncology Market Breakdown, by Types
- 8.1.1.3.2 India: Radiation Oncology Market Breakdown, by External Beam Radiation Therapy
- 8.1.1.3.3 India: Radiation Oncology Market Breakdown, by Internal Beam Radiation Therapy
- 8.1.1.3.4 India: Radiation Oncology Market Breakdown, by Application
- 8.1.1.4 Australia: Radiation Oncology Market - Revenue and Forecast to 2031 (US$ Million)
- 8.1.1.4.1 Australia: Radiation Oncology Market Breakdown, by Types
- 8.1.1.4.2 Australia: Radiation Oncology Market Breakdown, by External Beam Radiation Therapy
- 8.1.1.4.3 Australia: Radiation Oncology Market Breakdown, by Internal Beam Radiation Therapy
- 8.1.1.4.4 Australia: Radiation Oncology Market Breakdown, by Application
- 8.1.1.5 South Korea: Radiation Oncology Market - Revenue and Forecast to 2031 (US$ Million)
- 8.1.1.5.1 South Korea: Radiation Oncology Market Breakdown, by Types
- 8.1.1.5.2 South Korea: Radiation Oncology Market Breakdown, by External Beam Radiation Therapy
- 8.1.1.5.3 South Korea: Radiation Oncology Market Breakdown, by Internal Beam Radiation Therapy
- 8.1.1.5.4 South Korea: Radiation Oncology Market Breakdown, by Application
- 8.1.1.6 Rest of APAC: Radiation Oncology Market - Revenue and Forecast to 2031 (US$ Million)
- 8.1.1.6.1 Rest of APAC: Radiation Oncology Market Breakdown, by Types
- 8.1.1.6.2 Rest of APAC: Radiation Oncology Market Breakdown, by External Beam Radiation Therapy
- 8.1.1.6.3 Rest of APAC: Radiation Oncology Market Breakdown, by Internal Beam Radiation Therapy
- 8.1.1.6.4 Rest of APAC: Radiation Oncology Market Breakdown, by Application
9. Radiation Oncology Market - Industry Landscape
- 9.1 Overview
- 9.2 Growth Strategies in Radiation Oncology Market
- 9.3 Organic Growth Strategies
- 9.4 Inorganic Growth Strategies
10. Company Profiles
- 10.1 Varian Medical Systems Inc
- 10.1.1 Key Facts
- 10.1.2 Business Description
- 10.1.3 Products and Services
- 10.1.4 Financial Overview (Siemens Healthineers AG)
- 10.1.5 SWOT Analysis
- 10.1.6 Key Developments
- 10.2 Elekta AB
- 10.2.1 Key Facts
- 10.2.2 Business Description
- 10.2.3 Products and Services
- 10.2.4 Financial Overview
- 10.2.5 SWOT Analysis
- 10.2.6 Key Developments
- 10.3 Accuray Incorporated
- 10.3.1 Key Facts
- 10.3.2 Business Description
- 10.3.3 Products and Services
- 10.3.4 Financial Overview
- 10.3.5 SWOT Analysis
- 10.3.6 Key Developments
- 10.4 IBA Worldwide (Ion Beam Applications SA)
- 10.4.1 Key Facts
- 10.4.2 Business Description
- 10.4.3 Products and Services
- 10.4.4 Financial Overview
- 10.4.5 SWOT Analysis
- 10.4.6 Key Developments
- 10.5 Becton Dickinson and Co
- 10.5.1 Key Facts
- 10.5.2 Business Description
- 10.5.3 Products and Services
- 10.5.4 Financial Overview
- 10.5.5 SWOT Analysis
- 10.5.6 Key Developments
- 10.6 Mevion Medical Systems
- 10.6.1 Key Facts
- 10.6.2 Business Description
- 10.6.3 Products and Services
- 10.6.4 Financial Overview
- 10.6.5 SWOT Analysis
- 10.6.6 Key Developments
- 10.7 NTP RADIOISOTOPES
- 10.7.1 Key Facts
- 10.7.2 Business Description
- 10.7.3 Products and Services
- 10.7.4 Financial Overview
- 10.7.5 SWOT Analysis
- 10.7.6 Key Developments
- 10.8 Mallinckrodt Plc
- 10.8.1 Key Facts
- 10.8.2 Business Description
- 10.8.3 Products and Services
- 10.8.4 Financial Overview
- 10.8.5 SWOT Analysis
- 10.8.6 Key Developments
- 10.9 Panacea Medical Technologies Pvt. Ltd
- 10.9.1 Key Facts
- 10.9.2 Business Description
- 10.9.3 Products and Services
- 10.9.4 Financial Overview
- 10.9.5 SWOT Analysis
- 10.9.6 Key Developments
- 10.10 Curium
- 10.10.1 Key Facts
- 10.10.2 Business Description
- 10.10.3 Products and Services
- 10.10.4 Financial Overview
- 10.10.5 SWOT Analysis
- 10.10.6 Key Developments
11. Appendix
- 11.1 About The Insight Partners
- 11.2 Glossary of Terms