Global Radiation Oncology Market Size, Share, Trends and Forecasts 2031

Key Findings

• Radiation Oncology Market is a vital segment of the global cancer treatment industry, providing targeted therapies for malignancies across various anatomical sites.

• The field encompasses external beam radiation, brachytherapy, and systemic radioisotope therapy, each with advancements enhancing precision and patient outcomes.

• Growing cancer incidence, coupled with expanding applications of radiotherapy in early-stage, recurrent, and palliative care, is significantly driving market expansion.

• Linear accelerators (LINACs), stereotactic systems, and proton therapy units are among the most demanded equipment categories.

• Technological innovations such as real-time imaging, AI-driven treatment planning, and adaptive radiotherapy are improving therapeutic accuracy and minimizing toxicity.

• Developed markets like North America and Europe dominate in adoption, but Asia-Pacific is witnessing rapid growth due to rising healthcare investments and cancer burden.

• Partnerships between medical technology firms and oncology centers are accelerating R&D in ultra-precise radiation delivery and image-guided radiotherapy (IGRT).

• Favorable reimbursement policies, aging populations, and increasing availability of oncology infrastructure support market growth globally.

• The integration of radiomics and AI is enabling personalized radiotherapy protocols and predictive treatment models.

• Key players include Varian Medical Systems (Siemens Healthineers), Elekta AB, Accuray Inc., IBA, and ViewRay.

Market Overview

Radiation oncology is a cornerstone of cancer treatment, used in more than 50% of all cancer cases either alone or in combination with surgery and chemotherapy. The radiation oncology market consists of technologies and systems used to deliver controlled doses of radiation to destroy or damage cancer cells while sparing surrounding healthy tissues.

This discipline continues to evolve with advances in equipment and software that enhance treatment accuracy and patient safety. External beam radiation therapy (EBRT), delivered via LINACs and proton therapy units, remains the most commonly utilized approach, while brachytherapy and radiopharmaceuticals are used in specific cancers such as prostate, gynecologic, and thyroid cancers.

As cancer rates rise globally and access to high-quality cancer care becomes a priority in developing nations, the market for radiation oncology equipment and services is witnessing robust growth. Precision medicine, fueled by imaging, AI, and biomarker integration, is further elevating the role of radiotherapy in multidisciplinary cancer care.

Radiation Oncology Market Size and Forecast

The global radiation oncology market was valued at USD 8.3 billion in 2024 and is projected to reach USD 17.6 billion by 2031, growing at a CAGR of 11.4% over the forecast period.

Growth is fueled by increasing cancer prevalence, particularly in aging populations, and the rising adoption of advanced radiation therapy techniques such as stereotactic body radiotherapy (SBRT) and intensity-modulated radiation therapy (IMRT). Public and private investments in oncology infrastructure, especially in Asia-Pacific and Latin America, are opening new market opportunities.

High-end technologies such as proton beam therapy are gaining traction in specialized centers, while software innovations in treatment planning systems, automation, and image guidance are improving throughput and clinical precision. These advances are supported by collaborative R&D, favorable government initiatives, and an evolving regulatory framework.

Future Outlook

The future of the radiation oncology market will be characterized by enhanced precision, personalization, and digital integration. AI-powered tools will streamline treatment planning and real-time adaptation, reducing planning time and enhancing patient-specific targeting. Radiomics and big data analytics will assist in predicting treatment responses, enabling more tailored radiotherapy regimens.

The accessibility of radiotherapy in low- and middle-income countries will expand, driven by cost-effective LINAC systems, mobile radiotherapy units, and global health funding initiatives. In parallel, adaptive radiotherapy and automation will improve workflow efficiency, lowering the burden on oncologists and physicists.

Radiopharmaceutical therapies will also rise in prevalence as theranostic approaches (diagnosis + therapy) become more mainstream. With innovations in beam shaping, patient positioning, and biologic imaging, the next generation of radiation oncology will be more precise, efficient, and integrated with overall cancer management strategies.

Radiation Oncology Market Trends

• AI and Automation in Treatment Planning:
  Artificial intelligence is revolutionizing radiotherapy planning by automating segmentation, dose optimization, and treatment verification. This shortens planning cycles, reduces inter-operator variability, and increases treatment accuracy, especially in high-volume cancer centers.

• Expansion of Proton Therapy Facilities:
  Proton beam therapy is gaining acceptance for pediatric, brain, and recurrent tumors due to its precision and reduced exit dose. While historically limited to a few centers, declining equipment costs and public-private funding are enabling broader global expansion of proton therapy sites.

• Adoption of Adaptive Radiotherapy (ART):
  ART enables real-time modification of treatment plans based on daily anatomical changes. This leads to better tumor targeting and minimized exposure to healthy tissues. As cone-beam CT and MR-guided radiotherapy become more prevalent, ART adoption is expected to surge.

• Integration with Imaging and Radiomics:
  Advanced imaging modalities like MRI, PET, and CT are increasingly integrated into radiotherapy for improved localization and motion tracking. Radiomics tools are extracting quantitative data from these images to inform prognostics and treatment decisions with precision.

• Stereotactic Techniques in Outpatient Settings:
  Techniques such as SBRT and stereotactic radiosurgery (SRS) are enabling hypofractionated treatments in fewer sessions. These outpatient procedures improve patient convenience and resource utilization, and are now used in lung, spine, liver, and prostate cancers.

Market Growth Drivers

• Rising Global Cancer Incidence:
  The growing number of cancer cases, especially in developing countries, is creating strong demand for radiation therapy. With over 18 million new cancer cases annually, radiotherapy remains a critical, cost-effective modality in both curative and palliative treatment pathways.

• Technological Advancements and Innovation:
  New systems with image guidance, real-time tracking, dose modulation, and AI integration are improving clinical precision and outcomes. Continuous R&D in adaptive therapy, proton therapy, and automation is expanding the utility and efficiency of radiation oncology systems.

• Supportive Healthcare Policies and Funding:
  Many governments and global health agencies are expanding radiotherapy access by funding infrastructure in underserved regions. Reimbursement reforms and value-based care models are also making radiation oncology more accessible and financially sustainable.

• Aging Population and Chronic Disease Burden:
  The elderly population, highly susceptible to cancers like breast, prostate, and lung, is growing rapidly. This demographic shift is increasing the demand for minimally invasive, non-surgical treatment options, making radiation therapy a preferred choice.

• Growing Adoption of Precision Medicine:
  The integration of genomic profiling, biomarker analysis, and predictive analytics is enabling individualized radiotherapy. This shift toward personalized treatment is driving demand for advanced planning software and adaptive radiotherapy techniques.

Challenges in the Market

• High Cost of Advanced Equipment:
  LINACs, proton therapy units, and MR-guided radiotherapy systems involve substantial capital investment. This limits access for smaller hospitals and clinics, particularly in low-income regions, where budget constraints slow down modernization efforts.

• Skilled Workforce Shortage:
  Radiation oncology requires highly trained professionals, including radiation oncologists, physicists, and dosimetrists. Many regions face shortages of such experts, which hampers the efficient deployment and operation of radiotherapy equipment.

• Complexity in Treatment Planning and Delivery:
  As radiotherapy becomes more personalized and image-guided, it also becomes more complex. Ensuring accurate calibration, quality assurance, and protocol standardization adds to the clinical and administrative burden on oncology departments.

• Regulatory and Reimbursement Barriers:
  Stringent device approval processes and slow reimbursement policy updates delay the adoption of new technologies. In many countries, limited insurance coverage for radiotherapy services poses a significant obstacle to wider patient access.

• Limited Penetration in Rural and Underserved Regions:
  Despite high cancer burden in rural and low-income areas, radiotherapy facilities remain scarce. Challenges include infrastructure gaps, electricity availability, and maintenance support, all of which hinder installation and operation of radiation equipment.

Radiation Oncology Market Segmentation

By Technology

• External Beam Radiation Therapy (EBRT)

• Internal Radiation Therapy (Brachytherapy)

• Systemic Radiopharmaceutical Therapy

• Stereotactic Body Radiation Therapy (SBRT)

• Proton and Heavy Ion Therapy

By Component

• Radiation Therapy Equipment

• Treatment Planning Systems

• Imaging Systems

• Software and Services

• Radiotherapy Consumables

By Application

• Breast Cancer

• Lung Cancer

• Prostate Cancer

• Head & Neck Cancer

• Colorectal Cancer

• Others (Liver, Pancreatic, Pediatric)

By End-user

• Hospitals

• Cancer Treatment Centers

• Academic & Research Institutions

• Ambulatory Surgical Centers

By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa

Leading Key Players

• Varian Medical Systems (Siemens Healthineers)

• Elekta AB

• Accuray Inc.

• Ion Beam Applications SA (IBA)

• ViewRay Inc.

• Hitachi Ltd.

• Mevion Medical Systems

• C-RAD AB

• Brainlab AG

• RefleXion Medical

Recent Collaborations

• Varian Medical Systems partnered with Penn Medicine to develop adaptive radiotherapy workflows using AI and real-time imaging technologies.

• Elekta AB announced a collaboration with GE Healthcare to integrate imaging systems for advanced MR-guided radiotherapy.

• Accuray Inc. entered a strategic agreement with C-RAD to combine surface tracking technology with robotic radiosurgery platforms.

• ViewRay expanded partnerships with cancer centers in Europe and Asia to deploy its MRIdian MR-LINAC systems.

• IBA collaborated with Australian Proton Partners to install next-generation proton therapy systems across the region.

This Market Report will Answer the Following Questions

• How many Radiation Oncology Machines are manufactured per annum globally? Who are the sub-component suppliers in different regions?

• Cost Breakdown of a Global Radiation Oncology Machine and Key Vendor Selection Criteria

• Where is the Radiation Oncology Machine manufactured? What is the average margin per unit?

• Market share of Global Radiation Oncology Machine market manufacturers and their upcoming products

• Cost advantage for OEMs who manufacture Global Radiation Oncology Machine in-house

• Key predictions for next 5 years in the Global Radiation Oncology Machine market

• Average B2B Radiation Oncology Machine market price in all segments

• Latest trends in the Radiation Oncology Machine market, by every market segment

• The market size (both volume and value) of the Radiation Oncology Machine market in 2025–2031 and every year in between

• Production breakup of the Radiation Oncology Machine market, by suppliers and their OEM relationship