Radiotherapy Market Forecast to Surpass USD 17 Billion by 2031

The Radiotherapy Market is projected to grow from approximately USD 12 billion in 2024 to over USD 17 billion by 2031, registering a compound annual growth rate (CAGR) of 6.2%. This growth is largely driven by increasing cancer incidence worldwide, significant advancements in treatment technologies, and infrastructure investments by governments and healthcare providers.

Radiotherapy is a core component in the treatment of cancer, with more than 50% of all cancer patients receiving some form of radiation therapy during their treatment. The market is expanding with the adoption of advanced techniques including Intensity-Modulated Radiotherapy (IMRT), Stereotactic Body Radiotherapy (SBRT), Image-Guided Radiotherapy (IGRT), and Proton Therapy.

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Market Growth Drivers

Rising Global Cancer Burden
The increasing prevalence of cancer particularly lung, breast, prostate, and colorectal cancers has led to higher demand for radiation-based treatment. This trend is seen across high-income and developing nations alike.

Technological Innovation in Radiation Therapy
The market is witnessing major breakthroughs in precision, automation, and patient targeting. New-generation linear accelerators (LINACs), robotic systems, and real-time tumor tracking are transforming patient outcomes.

Healthcare Infrastructure Expansion
Public and private investments are fueling the construction of specialized oncology centers, especially in emerging economies. Governments are prioritizing cancer treatment through national plans and public-private partnerships.

Growing Access in Emerging Markets
Regions such as Asia-Pacific, Latin America, and parts of Africa are significantly increasing their radiotherapy equipment base. As awareness rises, treatment capacity is improving in rural and semi-urban areas.

Integration of AI and Robotics
Artificial intelligence is increasingly being used in treatment planning and delivery, offering faster workflows, better contouring, and greater personalization. Robotic systems improve accuracy in tumor targeting.

Regional Market Insights

North America
Holds the largest global share due to high cancer prevalence, well-established treatment centers, and early adoption of proton therapy and robotic systems. The U.S. remains the single largest contributor to global revenues.

Europe
Continues to see steady growth, particularly in Germany, the UK, France, and Nordic countries. EU healthcare policies, aging populations, and R&D funding support further adoption of radiotherapy solutions.

Asia-Pacific
Projected to be the fastest-growing region with a CAGR of nearly 7.8% through 2031. Countries like China, India, Japan, and South Korea are rapidly expanding oncology networks and adopting LINAC and proton systems.

Latin America & Middle East/Africa
Radiotherapy infrastructure is growing due to rising demand, international collaborations, and improved public health funding. However, access and affordability remain uneven across regions.

Market Segmentation Overview

• By Technology: External Beam Radiotherapy (LINACs), Internal Radiotherapy (Brachytherapy), and Proton Therapy.
  
  

• By Component: Equipment, Software, and Services.
  
  

• By Application: Prostate cancer, Breast cancer, Lung cancer, Head and Neck cancer, Others.
  
  

• By End-User: Hospitals, Oncology Clinics, and Ambulatory Radiotherapy Centers.
  
  

Market Challenges

High Capital Costs
Acquiring and maintaining advanced radiotherapy equipment like LINACs or proton beam systems requires substantial investment, which can limit adoption in low-resource settings.

Shortage of Skilled Personnel
Qualified radiologists, physicists, and radiation therapists are in short supply in many regions, affecting the quality and scalability of services.

Inconsistent Reimbursement Policies
Limited or partial insurance coverage for radiation therapy remains a challenge in some markets, particularly in middle-income countries.

Regulatory and Safety Constraints
Radiation-based therapies are subject to strict safety and regulatory oversight. Adherence to compliance, training, and machine calibration standards is crucial and resource-intensive.

Emerging Trends and Opportunities

Proton Therapy Expansion
Though currently limited to developed regions, proton therapy centers are expected to increase worldwide as costs decrease and clinical benefits become more evident.

Mobile and Modular Radiotherapy Units
Innovative modular systems and mobile LINAC units are enabling treatment delivery in rural and underserved regions, overcoming geographic access barriers.

Adaptive and Personalized Radiotherapy
Advances in imaging and data analytics are allowing real-time adaptation of radiation plans to individual patient responses enhancing efficacy and safety.

Combination Therapies
Radiotherapy is increasingly being combined with chemotherapy, immunotherapy, and molecular targeted drugs, creating new treatment protocols that require integrated systems.

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Key Players and Competitive Landscape

Major global players in the radiotherapy market include:

• Varian Medical Systems (a Siemens Healthineers company)
  
  

• Elekta AB
  
  

• Accuray Incorporated
  
  

• IBA (Ion Beam Applications)
  
  

• Mevion Medical Systems
  
  

• RefleXion Medical
  
  

• Brainlab
  
  

• Hitachi Ltd.
  
  

• ViewRay Inc.
  
  

• Mitsubishi Electric Corporation
  
  

These companies focus on product innovation, global expansion, training solutions, and integrated software platforms for treatment planning and delivery.

Conclusion

The global radiotherapy market is set to experience significant growth through 2031, driven by increased cancer incidence, growing healthcare infrastructure, and advancements in precision radiation delivery. As adoption increases across both developed and emerging economies, the market is being transformed by innovations in AI, robotics, mobile solutions, and personalized oncology. While challenges such as cost and access remain, opportunities in technology, partnerships, and service expansion offer a promising future for providers and patients alike.