U.S. Radiation Oncology Market Size, Share & Trends Analysis Report By Type (External Beam Radiation Therapy, Internal Beam Radiation Therapy), By Technology, By Application, And Segment Forecasts, 2020 - 2027

Report Overview

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. One of the major drivers for the market for radiation oncology is the growing adoption of radiotherapy. For instance, according to the Organisation for Economic Co-operation and Development (OECD), in the U.S., the number of radiotherapy equipment increased from 11.5 in 2018 to 11.7 per 1000,000 inhabitants in 2019. Also, increasing the prevalence of cancer is anticipated to propel the market for radiation oncology. For instance, according to the National Cancer Institute, approximately 1.8 million people are expected to be diagnosed with cancer in 2020. According to the International Agency for Research on Cancer, in 2018, an estimated 2.1 million people were suffering from cancer in the U.S. In the same year, cancer accounted for an estimated 0.6 million deaths.

Growing technological advancements such as advanced engineering and computer technology are anticipated to propel the growth of the market for radiation oncology. For instance, 4D radiotherapy, a combination of 4D imaging and radiotherapy allows real-time tracking of a tumor and provides precise information regarding tumor size, shape, area, and volume. This combination can enable physicians to compensate for organ, tumor, or patient movement and deliver a conformal dose.

The presence of a favorable reimbursement scenario is expected to fuel the growth of the market forradiation oncology. For instance, Centers for Medicare and Medicaid Service (CMS) increased payment rates by an OPD fee schedule by 2.7% under the Hospital Outpatient Prospective Payment System (HOPPS). Based on this payment rate, in 2020, CMS estimated that the total payment to HOPPS providers is projected to be USD 79.0 billion i.e. an increase in USD 6.3 billion over 2019 HOPPS payments.

Furthermore, rising healthcare expenditure is one of the major factors anticipated to accelerate the growth of the market for radiation oncology. Healthcare expenditure has been increasing steadily over the past few decades. In 2019, according to the OECD, healthcare spending in the U.S. was USD 11,072 per capita or USD 3.8 trillion in total, which was USD 3.7 trillion in 2018. The U.S. healthcare expenditure had increased to 4.4% in 2018 from 2017.

Type Insights

External Beam Radiation Therapy (EBRT) segment accounted for the largest revenue share of 78.6% in 2019 in the market for radiation oncology. This growth is due to an increase in awareness about treatment procedures and a rise in the usage of photon beams for breast cancer, esophageal cancer, colorectal cancer, prostate cancer, and lung cancer.

Also, increasing the adoption of electron-emitting high energy Linear Accelerators (LINAC) is expected to boost segment growth. For instance, in May 2020, GenesisCare ordered Elekta’s LINACs, which included 11 Elekta Unity MR-LINAC systems. This system is a Magnetic Resonance Radiation Therapy (MR/RT) system that offers personalized precision radiation therapy during the treatment through real-time MR imaging of the tumor. Including this order, Elekta had a total of 80 Unity orders in mid-2020.

Technology Insights

EBRT accounted for the largest revenue share of 88.2% in 2019 in the market for radiation oncology. The segment is anticipated to maintain its dominance over the forecast period owing to its wide usage of technologies such as Intensity Modulated Radiotherapy (IMRT) and proton beam therapy.

Moreover, the American Society for Radiation Oncology in 2018 published its findings from a recent study. The study demonstrates that IMRT could reduce toxicities for patients suffering from anal cancer and treated with radiation. IMRT decreases the need for additional surgery and increases the ability to complete treatment cycles.

Furthermore, an increasing number of installed bases is expected to drive the proton beam therapy technology over the forecast period. In January 2018, Sylvester Comprehensive Cancer Center agreed with Varian Medical Systems, Inc. to purchase and install the ProBeam Compact proton therapy system.

Also,brachytherapyis expected to be the fastest-growing segment in the market for radiation oncology over the forecast period. It has been further categorized into LDR brachytherapy and HDR brachytherapy. IsoRay, Inc. is one of the manufacturers of Cesium-131 brachytherapy seeds for the treatment of prostate cancer. In July 2018, IsoRay announced FDA 510k clearance for brachytherapy technology-GammaTile Therapy-that was developed in collaboration with GT Medical Technology.

Application Insights

EBRT held the largest revenue share of 78.6% in the market for radiation oncology in 2019 owing to its ability to treat inoperable patients and deliver conformal doses and increase awareness about the importance of early diagnosis. Furthermore, CyberKnife can be used for providing partial breast irradiation to reduce the damage to the heart, lungs, and skin. Proton therapy can be used to deliver a radiation dose at a specific point in the target tissue to help in reducing radiation exposure to the heart and lungs.

Also, brachytherapy is widely used for breast, prostate, gynecological, and other cancers. Prostate cancer dominated the market for radiation oncology in 2019 due to promising applications of brachytherapy in the treatment of prostate cancer and significant advancements in HDR and LDR techniques. However, brachytherapy for breast cancer is projected to grow at a significant rate over the forecast period due to the increasing incidence of breast cancer worldwide and the adoption of HDR brachytherapy by hospitals and oncology centers.

Key Companies & Market Share Insights

The key players that dominated the market for radiation oncology in 2019 include Elekta AB and Varian Medical Systems. Product portfolio expansion, country expansion, collaboration for R&D, partnerships for organic growth, and mergers and acquisitions are some of the strategic undertakings in this market for radiation oncology. For instance, In January 2020, Varian and Massachusetts General Hospital agreed. Under this agreement, Varian provided its radiotherapy systems at the clinic and replaced existing non-Varian systems. Some of the prominent players in the U.S. radiation oncology market include:

• Elekta AB

• Accuray Incorporated

• Mevion Medical Systems, Inc.

• Varian Medical Systems

• C.R. Bard, Inc.

• Ion Beam Applications SA

The U.S. Radiation Oncology Market Report Scope

Report Attribute	Details
Market size value in 2020	USD 2.7 billion
2027年的收入预测	USD 3.9 billion
Growth Rate	CAGR of 5.0% from 2020 to 2027
Base year for estimation	2019
Historical data	2016 - 2018
Forecast period	2020 - 2027
Quantitative units	Revenue in USD million and CAGR from 2020 to 2027
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Type, technology, application
Country scope	The U.S.
Key companies profiled	Elekta AB; Accuray Incorporated; Mevion Medical Systems, Inc.; Varian Medical Systems; C.R. Bard, Inc.; Ion Beam Applications SA
Customization scope	Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional, and segment scope.
革命制度党cing and purchase options	Avail customized purchase options to meet your exact research needs.Explore purchase options

Segments Covered in the Report

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For this study, Grand View Research has segmented the U.S. radiation oncology market based on type, technology, and application:

• 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

• 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

• 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