Radiation Oncology Market Size To Reach $33.09 Billion By 2033

April 2026 | Report Format: Electronic (PDF)

Radiation Oncology Market Growth & Trends

The global radiation oncology market size is expected to reach USD 33.09 billion by 2033, registering a CAGR of 11.42% from 2026 to 2033, according to a new report by Grand View Research, Inc. The growth of the market is attributed to the global rise in cancer burden, the growing geriatric population, and supportive reimbursement programs undertaken by the government and private organizations. Furthermore, the increasing technological innovation and advancement in radiotherapy offer lucrative opportunities for market growth.

The world is witnessing an increasing prevalence of cancer cases which is the key factor driving the radiation oncology market growth. For instance, according to Globocan, in 2020, more than 20.0 million people were diagnosed with cancer, and 10.0 million died of cancer. Moreover, the aging population is at high risk of cancer due to a weak immune system and comorbid conditions; thereby, the rising geriatric population further fuels market growth. For instance, in 2020, according to WHO estimates, the global geriatric population was approximately 1.0 billion and is expected to reach 2.1 billion by 2050.

Extensive research activities for the development of novel radiotherapy techniques and multidisciplinary therapeutic approaches are expected to lead to an increased survival rate and a more favorable prognosis of cancer. For instance, in December 2022, Elekta Unity demonstrated MR-Linac use for pancreatic tumors, where the first-ever patient was treated with new advanced radiotherapy motion management.

Similarly, in June 2020, Isoray signed a research agreement with the University of Cincinnati Physicians Company to study neck and head cancer treatment. The companies will evaluate the efficacy of Keytruda along with Cesium-131 post-surgical resection. Using such medical isotopes for cancer treatment may boost the research in developing a new target-specific radiation therapy system by understanding disease complexity & patients' need, thereby widening the opportunity in the market.

Furthermore, supportive reimbursement and regulatory policies for radiation therapy are also expected to drive the radiation oncology market growth. For instance, in July 2021, the Centers for Medicare and Medicaid Services (CMS) developed a new Radiation Oncology Payment Model (RO-APM) for the diagnosis of cancer and radiotherapy services. It enhances the quality of care of the patients and reduces the annual Medicare expenditure.

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Radiation Oncology Market Report Highlights

By treatment, the external beam radiation therapy (EBRT) treatment segment held the largest share of 73.22% in 2025. The systemic targeted radiation therapy segment is expected to grow at a CAGR of 15.20% during the forecast period.
By technology, the intensity-modulated radiotherapy (IMRT) segment held the largest revenue share of 20.38% in 2025. The upright beam delivery technology segment is expected to grow at the fastest CAGR over the forecast period.
By target customers, the academic & research cancer centers segment held the largest revenue share of 32.17% in 2025. Nuclear medicine and theranostics centers are emerging as a high-growth targeted customer segment within the market, driven by the rapid evolution of precision oncology and radioligand therapy.
By application, the external beam radiation therapy (EBRT) segment held the largest revenue share in 2025. The radioligand therapy (RLT) application segment is experiencing notable growth within the oncology landscape, supported by increasing investment and expanding research in targeted radiopharmaceuticals.
North America radiation oncology industry dominated the global market and accounted for the largest revenue share of 46.21% in 2025. U.S. led the North America market and held the largest revenue share in 2025.

Radiation Oncology Market Segmentation

Grand View Research has segmented global radiation oncology market report based on treatment, technology, application, target customer, and region:

Radiation Oncology Treatment Outlook (Revenue, USD Million, 2021 - 2033)

External Beam Radiation Therapy (EBRT)
- Linear Accelerators (LINAC)
- Stereotactic Radiosurgery (SRS) Systems
- Tomotherapy Systems
- Particle Beam Therapy
  - Proton Therapy
  - Heavy-Ion Therapy
Internal Beam Radiation Therapy
- Brachytherapy
  - Low-Dose Rate (LDR) Brachytherapy
    - Seeds
  - High-Dose Rate (HDR) Brachytherapy
    - Afterloaders
    - Applicators
  - Electronic Brachytherapy
Systemic Targeted Radiation Therapy
- Radioligand Therapy (RLT)
  - Beta-Emitting Radioligand Therapies
  - Alpha-Emitting Radioligand Therapies

Radiation Oncology Technology Outlook (Revenue, USD Million, 2021 - 2033)

Image-Guided Radiotherapy (IGRT)
- Motion Tracking / Real-Time Tumor Tracking
- Other
Intensity-Modulated Radiotherapy (IMRT)
Volumetric Modulated Arc Therapy (VMAT)
3D Conformal Radiation Therapy (3D-CRT)
Stereotactic Radiotherapy (SRS / SBRT)
Proton Beam Delivery Technology
Heavy-Ion Delivery Technology
Adaptive Radiotherapy
Upright Beam Delivery Technology

Radiation Oncology Application Outlook (Revenue, USD Million, 2021 - 2033)

External Beam Radiation Therapy (EBRT)
- Prostate Cancer
- Breast Cancer
- Lung Cancer
- Head & Neck Cancer
- Colorectal Cancer
- Central Nervous System (CNS) Tumors
- Others (e.g., Pediatric Cancers)
Internal Beam Radiation Therapy
- Prostate Cancer
- Gynecological Cancer
- Cervical Cancer
- Breast Cancer
- Others (e.g., Penile Cancer)
Radioligand Therapy Applications
- Prostate Cancer
- Neuroendocrine Tumors
- Thyroid Cancer
- Others (e.g., Hematologic Malignancies)