Radiation Oncology Market Size, Share, and Trends 2025 to 2034

Radiation Oncology Market Size and Growth 2025 to 2034

The global radiation oncology market size is calculated at USD 11.15 billion in 2024, grows to USD 12.42 billion in 2025, and is projected to reach around USD 32.82 billion by 2034, growing at a CAGR of 11.4% from 2025 to 2034. The market is growing due to rising global cancer prevalence and increasing adoption of advanced, precise radiation therapies.

Radiation Oncology Market Key Takeaways

• North America dominated the radiation oncology market with a revenue share in 2024.
• Asia Pacific is expected to grow at the fastest CAGR in the market during the forecast period.
• By type, the external beam radiation therapy segment led the market with the largest revenue share in 2024.
• By type, the linear accelerator (Linac) segment is expected to grow at the fastest CAGR in the market during the forecast period.
• By technology, the Intensity modulated radiotherapy (IMRT) segment held the largest market share in 2024.
• By technology, the 3D conformal radiotherapy (3D CRT) segment is expected to grow at the fastest CAGR in the market during the forecast period.
• By application, the external beam radiation therapy (EBRT) segment held the highest market share in 2024.
• By application, the Internal beam radiation therapy (IBRT) segment is expected to grow at the fastest CAGR in the market during the forecast period.

How is Innovation Impacting the Radiation Oncology Market?

Radiation oncology is a medical specialty that uses targeted radiation therapy to treat and manage cancer by destroying or controlling malignant cells. The market is expanding as an aging population worldwide face higher cancer risks, creating a larger patent pool. Increasing collaboration between hospitals and research institutes is enhancing clinical outcomes and boosting the adoption of advanced therapies. Expanding reimbursement coverage and inclusion of radiation treatments in national cancer care programs are also supporting growth. Moreover, rising demand for outpatient cancer care and preference for non-invasive treatment are encouraging healthcare providers to adopt radiation oncology solutions on a wide scale.

• For Instance, In March 2025, Actinium Pharmaceuticals introduced ATNM-400, a novel radiotherapy for prostate cancer that works by targeting non-PSMA pathways. The treatment leverages the alpha-emitting radioisotope actinium-225 (Ac-225) to deliver highly targeted radiation, aiming to improve precision and treatment outcomes. (Source: https://ir.actiniumpharma.com/)

What are the Key trends in the Radiation Oncology Market in 2024?

• In May 2024, Novartis announced its plan to acquire Mariana Oncology, a Watertown-based preclinical biotech company focused on developing advanced radioligand therapeutics (RLTs) for diseases with high unmet medical needs. (Source: https://www.novartis.com/)
• In March 2024, AstraZeneca reached a definitive deal to acquire Fusion Pharmaceuticals Inc., a clinical-stage biopharma specializing in next-generation radioconjugates (RCs). The move strengthens AstraZeneca’s push toward advancing cancer treatment through more precise and targeted approaches, moving beyond conventional options like chemotherapy and standard radiotherapy. (Source: https://www.astrazeneca.com/)

How Can AI Affect the Radiation Oncology Market?

AI can impact the market by streamlining clinical decision-making through data integration from genomics, imaging, and patient records. It supports adaptive radiotherapy by continuously adjusting treatment plans as tumors respond, improving long-term results. AI also aids in resource optimization by reducing treatment time and enhancing machine utilization. Furthermore, its role in drug-radiation combination research accelerates innovation, fostering broader applications and expanding market opportunities.

Report Scope of Radiation Oncology Market

Market Dynamics

Driver

Rising Adoption of Advanced Radiotherapy Technology 

The increasing use of advanced radiotherapy technologies fuels the radiation oncology market by enabling shorter treatment durations and improving patient convenience. These innovations enhance workflow efficiency in hospitals and clinics, allowing more patients to be treated with the same resources. Moreover, their ability to combine with other therapies, such as immunotherapy or targeted drugs, expands treatment possibilities. Rising investments in research and development for cutting-edge radiotherapy solutions also contribute to broader adoption and market growth.

• For Instance, In June 2025, Karnataka proposed a proton therapy center at KMIO to provide precise tumor-targeted radiation while protecting healthy tissue. (Source: https://www.deccanherald.com/)

Restraint

High Cost of Advanced Equipment

The high cost of advanced radiotherapy equipment acts as a major restraint in the radiation oncology market, limiting its accessibility in many regions. Sophisticated technologies like proton therapy systems, stereotactic radiosurgery, and image-guided radiotherapy require significant investment in installation, maintenance, and skilled personnel. These expenses can be prohibitive for smaller hospitals and clinics, especially in developing countries, slowing adoption. Additionally, high treatment costs may reduce patient affordability, restricting the widespread use of advanced radiation therapies and slowing overall market growth.

Opportunity

Personalized and Precision Radiation Therapies

Personalized and precision radiation therapies offer future opportunity by improving patient quality of life and reducing treatment-related complications. These approaches enable adaptive therapy, where treatment plans can be modified as the tumor responds, enhancing effectiveness. Growing investment in research and development of biomarker-driven protocols and precision targeting technologies supports wider adoption. Additionally, increasing collaborations between hospitals, biotech firms, and AI developers are likely to accelerate the integration of personalized radiotherapy into routine cancer care, expanding market potential.

• For Instance, In October 2024, a clinical trial tested AI-driven personalized radiation for glioblastoma, improving median survival to 24.3 months compared to 17.5 months with standard therapy. (Source: https://clinicaltrials.gov/)

Segmental Insights

What made the External Beam Radiation Therapy Segment Dominant in the Radiation Oncology Market in 2024?

The external beam, radiation therapy (EBRT) segment dominates the market because it allows non-invasive treatment over multiple sessions, making it suitable for a wide range of cancer types and stages. Its compatibility with modern imaging techniques enhances treatment accuracy and reduces complications. Additionally, EBRT systems are increasingly integrated into hospital oncology departments worldwide, and ongoing innovations such as adaptive radiotherapy and real-time tumor tracking further boost its utilization, contributing to its leading revenue position in the market.

The linear accelerator (Linac) segment is projected to grow rapidly due to its ability to support advanced treatment techniques like stereotactic radiosurgery (SRS) and stereotactic body radiotherapy (SBRT), which allows high-dose, targeted therapy in fewer sessions. Its modular design and adaptability make it suitable for both large hospitals and smaller oncology centers. Additionally, growing investments in upgrading radiotherapy equipment and increasing awareness of its clinical benefits are fueling adoption, driving the segment's high growth rate during the forecast period.

• For Instance, In May 2024, Elekta unveiled Evo, its newest linear accelerator (Linac) system, showcasing the company’s latest advancements in precision radiotherapy technology. (Source: https://ir.elekta.com/)

How did the Intensity Modulated Radiotherapy (IMRT) Segment Dominate the Radiation Oncology Market in 2024?

The intensity modulated radiotherapy (IMRT) segment led the market in 2024 due to its efficiency in delivering higher radiation doses to tumors while shortening overall treatment time. Its flexibility allows clinicians to treat multiple tumor sites simultaneously and adapt plans as tumors respond, enhancing patients' outcomes. Moreover, increasing investments in IMRT-capable equipment by hospitals and cancer centers, along with rising awareness of its benefits in minimizing complications, have contributed to its leading position in the radiation oncology market.

The 3D conformal radiotherapy (3D CRT) segment is anticipated to grow rapidly due to its ability to integrate with modern imaging modalities, enabling better visualization of tumors and surrounding organs. Its shorter learning curve and lower operational complexity compared to other advanced radiotherapy techniques make it appealing for new oncology centers. Additionally, expanding healthcare infrastructure in emerging countries and increasing demand for effective yet accessible cancer treatments are expected to accelerate the adoption of 3D CRT, driving its fastest CAGR in the market.

Why the External Beam Radiation Therapy (EBRT) Segment Dominated the Market in 2024?

The external beam radiation therapy (EBRT) segment dominated in 2024 due to its efficiency in delivering high-dose radiation to tumors while minimizing patient discomfort and recovery time. Its flexibility allows for combination with other treatments such as chemotherapy and immunotherapy, enhancing overall cancer management. Furthermore, increasing adoption in outpatient and community oncology centers, along with continuous technological upgrades, has made EBRT more accessible and effective, reinforcing its position as the highest revenue-generating application segment in the radiation oncology market.

The internal beam radiation therapy (IBRT) segment is projected to grow rapidly due to its minimally invasive nature and shorter treatment durations, which improve patient comfort and compliance. Innovations in brachytherapy devices, including real-time dose monitoring and advanced applicators, are expanding its clinical applications. Moreover, rising preference for outpatient procedures and increasing adoption in emerging markets, where hospital resources may be limited, are contributing to faster implementation, positioning IBRT as the fastest-growing application segment in the radiation oncology market.

Regional Insights

How is North America contributing to the Expansion of the Radiation Oncology Market?

In 2024, North America led the market because of the early adoption of innovative treatment solutions and extensive presence of key market players. The region benefits from strong collaborations between hospitals, research institutes, and biotech companies, accelerating the introduction of advanced radiotherapy systems. Additionally, increasing patient demand for precision and personalized cancer care, along with government-backed cancer programs and clinical trials, has reinforced the region’s dominance, ensuring the highest revenue share in the global market.

How is Asia-Pacific Accelerating the Veterinary Clinical Chemistry Diagnostics Market?

The Asia-Pacific market is projected to grow rapidly due to the emergence of new cancer treatment centers and rising private-sector healthcare investments. Increasing collaborations with global technology providers are introducing advanced radiotherapy solutions to the region. Additionally, a growing geriatric population, urbanization, and expanding insurance coverage are making advanced cancer treatments more accessible. These factors, combined with government programs supporting cancer care and rising patient awareness, are driving faster adoption and a higher growth rate in the region.

• For Instance, In October 2024, Curium partnered with PeptiDream to develop and commercialize 177Lu-PSMA-I&T and 64Cu-PSMA-I&T for prostate cancer theranostics in Japan, focusing on tumors with high PSMA expression. (Source: https://www.globenewswire.com/)

Radiation Oncology Market Recent Developments

• In April 2025, ZEISS Medical Technology received FDA 510(k) clearance for its INTRABEAM 700 system, reinforcing its focus on modern oncology. This advanced platform provides robotic-assisted precision for intraoperative radiation therapy (IORT), with a digital-first design that streamlines workflows and improves connectivity, offering enhanced clinical benefits in the treatment of breast cancer and neuro-oncology cases. (Source: https://www.zeiss.com/)
• In September 2024, Gifu Prefectural General Medical Center became the first facility in Japan to implement Accuray’s Radixact System with the VitalHold solution, enhancing the delivery of precise radiation therapy to patients. (Source: https://www.prnewswire.com/)

Some of the prominent players in the global radiation oncology market include:

• Varian Medical Systems, Inc.
• Elekta AB
• Accuray Incorporated
• IBA Radiopharma Solutions
• BD (Becton, Dickinson and Company)
• Isoray Inc.
• Mevion Medical Systems
• Nordion, Inc.
• NTP Radioisotopes SOC Ltd.
• Curium
• ViewRay Technologies, Inc.

Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2034. For this study, Nova one advisor, Inc. has segmented the global radiation oncology market

By Type

• External Beam Radiation Therapy

• • Linear Accelerators (Linac)
  • Compact advanced radiotherapy systems

• • • Cyberknife
    • Gamma Knife
    • Tomotherapy

• • Proton Therapy

• • • Cyclotron
    • Synchrotron

• Internal Beam Radiation Therapy

• • Brachytherapy

• • • Seeds
    • Applicators and After loaders
    • Electronic Brachytherapy

• • Systemic Beam Radiation Therapy
  • Others

By Technology

• 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

By Application

• 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
  • Cervical Cancer
  • Breast Cancer
  • Penile Cancer
  • Others

By Regional

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

List of Figure

List of Tables

• Table 1: Global Radiation Oncology Market Size (USD Million) by Type, 2024–2034
• Table 2: Global Radiation Oncology Market Size (USD Million) by Technology, 2024–2034
• Table 3: Global Radiation Oncology Market Size (USD Million) by Application, 2024–2034
• Table 4: North America Radiation Oncology Market Size (USD Million) by Type, 2024–2034
• Table 5: North America Radiation Oncology Market Size (USD Million) by Technology, 2024–2034
• Table 6: North America Radiation Oncology Market Size (USD Million) by Application, 2024–2034
• Table 7: U.S. Radiation Oncology Market Size (USD Million) by Type, Technology & Application, 2024–2034
• Table 8: Canada Radiation Oncology Market Size (USD Million) by Type, Technology & Application, 2024–2034
• Table 9: Mexico Radiation Oncology Market Size (USD Million) by Type, Technology & Application, 2024–2034
• Table 10: Europe Radiation Oncology Market Size (USD Million) by Type, 2024–2034
• Table 11: Europe Radiation Oncology Market Size (USD Million) by Technology, 2024–2034
• Table 12: Germany Radiation Oncology Market Size (USD Million) by Type, Technology & Application, 2024–2034
• Table 13: France Radiation Oncology Market Size (USD Million) by Type, Technology & Application, 2024–2034
• Table 14: UK Radiation Oncology Market Size (USD Million) by Type, Technology & Application, 2024–2034
• Table 15: Italy Radiation Oncology Market Size (USD Million) by Type, Technology & Application, 2024–2034
• Table 16: Asia Pacific Radiation Oncology Market Size (USD Million) by Type, 2024–2034
• Table 17: Asia Pacific Radiation Oncology Market Size (USD Million) by Technology, 2024–2034
• Table 18: China Radiation Oncology Market Size (USD Million) by Type, Technology & Application, 2024–2034
• Table 19: Japan Radiation Oncology Market Size (USD Million) by Type, Technology & Application, 2024–2034
• Table 20: India Radiation Oncology Market Size (USD Million) by Type, Technology & Application, 2024–2034
• Table 21: South Korea Radiation Oncology Market Size (USD Million) by Type, Technology & Application, 2024–2034
• Table 22: Southeast Asia Radiation Oncology Market Size (USD Million) by Type, Technology & Application, 2024–2034
• Table 23: Latin America Radiation Oncology Market Size (USD Million) by Type, Technology & Application, 2024–2034
• Table 24: Brazil Radiation Oncology Market Size (USD Million) by Type, Technology & Application, 2024–2034
• Table 25: Middle East & Africa Radiation Oncology Market Size (USD Million) by Type, Technology & Application, 2024–2034
• Table 26: GCC Countries Radiation Oncology Market Size (USD Million) by Type, Technology & Application, 2024–2034
• Table 27: Turkey Radiation Oncology Market Size (USD Million) by Type, Technology & Application, 2024–2034
• Table 28: Africa Radiation Oncology Market Size (USD Million) by Type, Technology & Application, 2024–2034

List of Figures

• Figure 1: Global Radiation Oncology Market Share by Type, 2024
• Figure 2: Global Radiation Oncology Market Share by Technology, 2024
• Figure 3: Global Radiation Oncology Market Share by Application, 2024
• Figure 4: North America Market Share by Type, 2024
• Figure 5: North America Market Share by Technology, 2024
• Figure 6: North America Market Share by Application, 2024
• Figure 7: U.S. Market Share by Type, Technology & Application, 2024
• Figure 8: Canada Market Share by Type, Technology & Application, 2024
• Figure 9: Mexico Market Share by Type, Technology & Application, 2024
• Figure 10: Europe Market Share by Type, 2024
• Figure 11: Europe Market Share by Technology, 2024
• Figure 12: Germany Market Share by Type, Technology & Application, 2024
• Figure 13: France Market Share by Type, Technology & Application, 2024
• Figure 14: UK Market Share by Type, Technology & Application, 2024
• Figure 15: Italy Market Share by Type, Technology & Application, 2024
• Figure 16: Asia Pacific Market Share by Type, 2024
• Figure 17: Asia Pacific Market Share by Technology, 2024
• Figure 18: China Market Share by Type, Technology & Application, 2024
• Figure 19: Japan Market Share by Type, Technology & Application, 2024
• Figure 20: India Market Share by Type, Technology & Application, 2024
• Figure 21: South Korea Market Share by Type, Technology & Application, 2024
• Figure 22: Southeast Asia Market Share by Type, Technology & Application, 2024
• Figure 23: Latin America Market Share by Type, Technology & Application, 2024
• Figure 24: Brazil Market Share by Type, Technology & Application, 2024
• Figure 25: Middle East & Africa Market Share by Type, Technology & Application, 2024
• Figure 26: GCC Countries Market Share by Type, Technology & Application, 2024
• Figure 27: Turkey Market Share by Type, Technology & Application, 2024
• Figure 28: Africa Market Share by Type, Technology & Application, 2024