South Korea Radiation Oncology Market Size & Outlook
South Korea radiation oncology market, 2017-2028 (US$M)
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South Korea radiation oncology market highlights
- The South Korea radiation oncology market generated a revenue of USD 139.9 million in 2020 and is expected to reach USD 254.2 million by 2028.
- The South Korea market is expected to grow at a CAGR of 7.8% 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.
Radiation oncology market data book summary
| Market revenue in 2020 | USD 139.9 million |
| Market revenue in 2028 | USD 254.2 million |
| Growth rate | 7.8% (CAGR from 2020 to 2028) |
| Largest segment | External beam radiationtherapy |
| Fastest growing segment | Internal Beam Radiation Therapy |
| Historical data | 2017 - 2019 |
| Base year | 2020 |
| Forecast period | 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, South Korea accounted for 1.8% of the global radiation oncology market in 2020.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2028.
- In Asia Pacific, China radiation oncology market is projected to lead the regional market in terms of revenue in 2028.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 532.9 million by 2028.
External beam radiationtherapy was the largest segment with a revenue share of 76.05% in 2020. Horizon Databook has segmented the South Korea radiation oncology market based on external beam radiationtherapy, internal beam radiation therapy covering the revenue growth of each sub-segment from 2017 to 2028.
The demand for radiation therapy has increased in South Korea, owing to the growing incidence of cancer as well as an overall increase in the number of patients seeking radiation therapy. Over 64 % of cancer patients in the capital region of South Korea underwent radiotherapy treatment, while 45% to 55% of new cases required radiotherapy treatment.
Increase in incidence of cancer is expected to be a major market driver. According to Korean Cancer Association, in 2019, 221,347 new cancer cases and 82,344 cancer deaths were estimated to occur in South Korea. South Korea is 14th in the list of top 20 countries with highest cancer rates.
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Radiation Oncology Market Scope
Radiation Oncology Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea radiation oncology market size, by type, 2017-2028 (US$M)
South Korea Radiation Oncology Market Outlook Share, 2020 & 2028 (US$M)
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