Latin America Radiation Oncology Market Size & Outlook
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Latin America radiation oncology market highlights
- The Latin America radiation oncology market generated a revenue of USD 464.5 million in 2024.
- The market is expected to grow at a CAGR of 12.2% from 2025 to 2030.
- In terms of segment, external beam radiationtherapy was the largest revenue generating type in 2024.
- 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 2025 to 2030.
Latin America data book summary
| Market revenue in 2024 | USD 464.5 million |
| Market revenue in 2030 | USD 892.9 million |
| Growth rate | 12.2% (CAGR from 2025 to 2030) |
| Largest segment | External beam radiationtherapy |
| Fastest growing segment | Internal Beam Radiation Therapy |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| 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 4.4% of the global radiation oncology market in 2024.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 892.9 million by 2030.
External beam radiationtherapy was the largest segment with a revenue share of 69.82% in 2024. 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 2018 to 2030.
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 |
|---|---|---|---|---|
| ViewRay | View profile | 251-500 | Oakwood, Ohio, United States, North America | http://www.viewray.com |
| Curium Pharma | View profile | 1001-5000 | Paris, Ile-de-France, France, Europe | https://www.curiumpharma.com/contact/ |
| Ntp Radioisotopes | View profile | 251-500 | Brits, NA - South Africa, South Africa, Africa | https://www.ntp.co.za/ |
| Nordion | View profile | 251-500 | Kanata, Ontario, Canada, North America | http://nordion.com |
| MeVis Medical Solutions AG | View profile | 101-250 | Bremen, Bremen, Germany, Europe | http://www.mevis.de/ |
| IBA RadioPharma Solutions | View profile | 1001-5000 | Louvain-la-neuve, Vlaams-Brabant, Belgium, Europe | https://www.iba-radiopharmasolutions.com/ |
| Accuray Inc | View profile | 1024 | 1240 Deming Way, Madison, WI, United States, 53717 | https://www.accuray.com |
| IsoRay | View profile | 51-100 | Richland, Washington, United States, North America | https://isoray.com/ |
| Elekta AB ADR | View profile | 4584 | Kungstensgatan 18, Box 7593, Stockholm, Sweden, SE-103 93 | https://www.elekta.com |
| BD | View profile | 10001+ | Franklin Lakes, New Jersey, United States, North America | https://www.bd.com |
| Siemens Healthineers AG ADR | View profile | 71400 | Siemensstr. 3, Forchheim, BY, Germany, 91301 | https://www.siemens-healthineers.com |
Latin America radiation oncology market size, by country, 2018-2030 (US$M)
Latin America Radiation Oncology Market Outlook Share, 2024 & 2030 (US$M)
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