Particle Therapy Market Overview
Particle Therapy, an advanced type of cancer radiotherapy, offers painless treatment. The procedure concentrates energy directly on the tumor while minimizing radiation dose to surrounding healthy tissue. Patients can continue with their daily routine activities while undergoing treatment. Also, particle therapy has very few side effects compared to that of traditional radiotherapy. Therefore, particle therapy has become the most preferred cancer treatment, improving the quality of life for cancer patients.
Resultantly, the particle therapy market is rising continually over recent years. The number of cancer cases worldwide is dramatically increasing. The improving global economy plays a causal role in the development of cancer treatment, driving the R&D activities in the field. Meanwhile, technological advances in radiology & other cancer therapies are making prominent strides, evolving drastically. Factors, as such, cumulatively drive the growth of the particle therapy market on the global platform.
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According to Market Research Future (MRFR), the global particle therapy market had reached a valuation of USD 790.45 million in 2017, which is estimated to appreciate further at 9.1% CAGR during the forecast period (2018–2023). The rising prevalence of cancer and low risk of side effects induced during the treatment owing to low radiation dose, alongside the increasing number of particle therapy centers across the world, impact the growth of the market positively.
Moreover, rising R&D initiatives and funding by the public & private organizations, alongside the aggressive strategies adopted by the top players in the market such as new product launches, are contributing to the growth of the market. Additionally, factors such as the increasing per capita healthcare expenditures, increasing population, exposures to harmful radiation, heredity reasons, and genetic mutations (abnormal changes), substantiate the market growth.
Conversely, the high costs associated with the therapy and the long approval time for the clinical trials are the major factors expected to obstruct the market growth. Nevertheless, various initiatives conducted by the governments aiming at increasing the awareness for the availability of the treatment method would support the market growth throughout the review period. Also, developing regions provide a broad scope for market growth, prompting substantial investments for R&D to bring more novelty and betterments.
Global Particle Therapy Market – Segments
The report is segmented into six key dynamics;
By Type: Proton Therapy and Heavy Ion Therapy
By Product & Service: Products (Cyclotrons, Synchrotrons, Synchrocyclotrons, others) and Services.
By Cancer Type: Prostate Cancer, Lung Cancer, Pediatric Cancer, Head & Neck Cancer, Breast Cancer, and others.
By System: Multi-Room Systems, Single-Room Systems, and others.
By Application: Treatment Applications, Research Applications, and others.
By Regions: Americas, Europe, APAC, and the Rest-of-the-World.
Global Particle Therapy Market – Geographical Analysis
North America dominates the global particle therapy market. The largest market share attributes to the rising prevalence of cancer and the presence of many major players and futurist cancer treatment &research centers in the region. Besides, the increasing investments by the public & private organizations made into the development of cancer treatment centers and to drive the research activities foster the regional market growth.
The US accounts for the largest share in the regional particle therapy market due to the high treatment and R&D expenditures. Additionally, factors such as large technological advances and high healthcare spending push the growth of the regional market. The North American particle therapy market is likely to retain its dominance over the global market throughout the assessment period.
Europe stands second in the global particle therapy market. The market is majorly driven by the increasing numbers of cancer patients. Also, factors such as the rising government funding and support for the development of the healthcare sector and the growing research & development activities for Cancer treatments impact the regional market growth. Moreover, favorable reimbursement policies in European countries are contributing to the growth of the market in this region. The European particle therapy market is projected to create a substantial revenue pocket during the assessment period.
The Asia Pacific particle therapy market demonstrates promising growth owing to the rising investments in healthcare and expansions by key market players in the region. Moreover, factors such as the increasing prevalence of cancer and the growing economy in the region influence market growth.
India and China are considered as the major markets for particle therapy in the region. Moreover, growing adoptions of advanced technology in cancer treatment and researches in the growing numbers of cancer research centers encourage regional market growth. The APAC particle therapy market is expected to grow rapidly over the anticipated period.
Particle Therapy Market – Competitive Landscape
Highly competitive, the particle therapy market appears fragmented due to the presence of several well-established technology providers. To gain a larger competitive share in the market, industry players incorporate strategic initiatives such as acquisitions & mergers, expansion, collaboration, and product & technology launch. They make substantial investments to increase their global footprints and to drive R&D activities.
Particle Therapy Market Major Players:
Players leading the particle therapy market include Advanced Oncotherapy PLC., Ion Beam Applications S A (IBA), Danfysik A/S, Hitachi, Ltd., Mevion Medical Systems, Inc., Protom International, Inc., Optivus Proton Therapy, Inc., Provision Healthcare, LLC, Varian Medical Systems, Inc., and Sumitomo Heavy Industries, Ltd., among others.
Particle Therapy Industry/ Innovation /Related News:
May 08, 2020 —- Hitachi, Ltd. (Japan, a multinational conglomerate company, announced the opening of First Europe based Proton Therapy system in Spain. Hitachi’s state-of-the-art proton therapy system has installed at Clinica Universidad de Navarra in Spain. The system is equipped with spot scanning technology that sends a therapeutic proton beam precisely conforming to the shape of the target tumor. Also, the new systems have a 360degree rotating gantry treatment room with cone-beam CT(1) and Real-time image Gated Proton Therapy (RGPT)(2) capability.
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