Oncology Radiation Therapy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
Albany, NY -- (SBWIRE) -- 07/03/2017 -- The high prevalence of cancer in the world poised to generate a high-earning opportunity for the global oncology radiation therapy market. Radiation therapies are predominantly designed to destroy the cancerous cells without negatively impacting the healthy tissues surrounding the targeted area. The radiation therapy is being adopted at a higher rate than before for reducing pain, pressure, and shrinking cancer cells due to persistent rise in the occurrence of various types of cancer.
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According to the World Health Organization (WHO), cancer emerged as the leading cause of morbidity and mortality in February 2015. This alarming fact is projected to be the key growth driver for the global oncology radiation therapy market. Besides the high prevalence of cancer, the growth of the global market will be attributable to the consistent technological advancements, exponentially growing pool of geriatrics, and favorable reimbursement policies. Owing to these reasons, the use of radiation therapy for treating cancers of colorectal, lung breast, and prostate will rise over the forecast period.
In terms of geography, the global oncology radiation therapy market is segmented into Asia Pacific, North America, Europe, and Rest of the World. Presently, Europe and North America are the key contributors to the soaring revenue of the overall market. The well-established reimbursement policies and the persistent technological advancements are expected benefit the regional markets in the coming years. Furthermore, increasing investments in research and development in developed regions is also likely to favor their growth. On the other hand, Asia Pacific is also likely to show a steady growth in the overall oncology radiation therapy market. The booming medical tourism industry and the unmet medical demands are expected to boost the Asia Pacific oncology radiation therapy market over the forecast period.
Some of the key players operating in the global oncology radiation therapy market are Boston Scientific Corporation, Accuray, Inc., C.R. Bard, Inc., Brainlab AG, GE Healthcare, Positron Corporation, Siemens Healthcare, NTP Radioisotopes (pty) Ltd., and Varian Medical Systems, Inc. The research report provide a detailed analysis of the competitive landscape present in the global market along with determining their business and marketing strategies. The publication also provides an explanation of the research and development strategies being adopted by these players and their financial outlooks for the near future. The comprehensive outlook on the global oncology radiation therapy market is aimed at offering the readers a clear view of the trajectory.
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