Oncology and Radiology Device Market, By Technology (Linear Accelerators, Cobalt-60, High-Dose Radiation, and Low-Dose Radiation), By Therapy (External Radiation Therapy and Internal Radiation Therapy or Brachytherapy), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

A rise in cancer cases globally 

The growth of the target market is primarily driven by the increasing prevalence of cancer. Global population growth and aging, along with changes in risk factor exposure—many of which are connected to socioeconomic development—are the leading causes of the rapidly rising prevalence of cancer. Alcohol consumption, tobacco use, and obesity are the leading causes of the rising cancer rate; air pollution is still a major environmental risk factor.

For example, the latest estimates of the global cancer burden were released in February 2024, based on a study conducted by The International Agency for Research on Cancer (IARC), a cancer research agency under the World Health Agency (WHO). Using the most significant data sources each nation has access to in 2022, The IARC estimates highlight the growing cancer burden, the disproportionate impact of the disease on impoverished areas, and the need to address cancer disparities worldwide. In 2022, it was expected that there would be 20 million new cases of cancer and 9.7 million cancer-related deaths. It was estimated that 53.5 million persons with cancer were still alive five years following their diagnosis. One in five people will have cancer at some point in their lives; one in nine men and one in twelve women will die from the disease. By 2050, there will likely be over 35 million new cases of cancer, a 77% increase over the estimated 20 million cases in 2022.