Latin America Radiation Oncology Market Size & Outlook
Latin America radiation oncology market, 2017-2028 (US$M)
Related Markets
Latin America radiation oncology market highlights
- The Latin America radiation oncology market generated a revenue of USD 355.3 million in 2020.
- The market is expected to grow at a CAGR of 7.3% from 2021 to 2028.
- In terms of segment, external beam radiationtherapy was the largest revenue generating type in 2020.
- Internal Beam Radiation Therapy is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2021 to 2028.
Latin America data book summary
| Market revenue in 2020 | USD 355.3 million |
| Market revenue in 2028 | USD 622.7 million |
| Growth rate | 7.3% (CAGR from 2020 to 2028) |
| Largest segment | External beam radiationtherapy |
| Fastest growing segment | Internal Beam Radiation Therapy |
| Historical data covered | 2017 - 2019 |
| Base year for estimation | 2020 |
| Forecast period covered | 2021 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | External Beam RadiationTherapy, Internal Beam Radiation Therapy |
| Key market players worldwide | Siemens Healthineers AG ADR, Elekta AB ADR, BD, Accuray Inc, IBA RadioPharma Solutions, IsoRay, MeVis Medical Solutions AG, Nordion, Ntp Radioisotopes, Curium Pharma, ViewRay |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.7% of the global radiation oncology market in 2020.
- Globally, North America is projected to lead the regional market in terms of revenue in 2028.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,803.8 million by 2028.
External beam radiationtherapy was the largest segment with a revenue share of 71.01% in 2020. Horizon Databook has segmented the Latin America radiation oncology market based on external beam radiationtherapy, internal beam radiation therapy covering the revenue growth of each sub-segment from 2017 to 2028.
Rising incidence of cancer and rise in mortality rates due to the disease are expected to fuel the market growth. According to the Pan American Health Organization, cervical cancer is the most common cause of deaths in Latin America and Caribbean region.
It is estimated that more than 56,000 women are diagnosed with cervical cancer, and more than 28,000 die from this disease in this region every year. The mortality rate is three times higher in this region in comparison with North America.
Hence, IAEA Division of Human Health is supporting early diagnosis and treatment of cancer using diagnostic imaging and radiation therapy (EBRT & Brachytherapy) in this region. In addition, presence of key market players such as ElektaAB and Varian Medical Systems.
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Radiation Oncology Market Scope
Radiation Oncology Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America radiation oncology market size, by country, 2017-2028 (US$M)
Latin America Radiation Oncology Market Outlook Share, 2020 & 2028 (US$M)
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