Particle Therapy Market - Global Forecast to 2027 - ResearchAndMarkets.com
The particle therapy market is projected to reach USD 1,004 million by 2027 from USD 677 million in 2022, growing at a CAGR of 8.2% from 2022 to 2027.
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The particle therapy market is projected to reach USD 1,004 million by 2027 from USD 677 million in 2022, growing at a CAGR of 8.2% from 2022 to 2027.
Market growth is driven by factors such as the various advantages offered by the growing global prevalence of cancer, particle therapy advantages over photon therapy, increasing acceptance of particle therapy in clinical trials, and the increasing number of particle therapy centers worldwide.
However, affordability & accessibility of treatments and infrastructural are expected to limit market growth to a certain extent in the coming years. In this report, the particle therapy market is segmented on the basis of type, product and services, cancer type, application, cancer type, and region.
Treatment Application accounted for the largest share in the particle therapy market by application type
Based on applications, the particle therapy market has been segmented into treatment and research applications. In 2021, the treatment applications segment is projected to account for the dominant share of 94.4% of the particle therapy market. Increasing government initiatives aimed at equipping or upgrading hospitals with newer and advanced radiotherapy systems.
Proton Therapy accounted for the largest share in the particle therapy market by type
On the basis of type, the particle therapy market is segmented into proton therapy and heavy ion therapy. The proton therapy segment is expected to account for the largest share (85.7%) of the market in 2021.
Factors such as the high dose of radiation, shorter treatment time, a high degree of precision, and lower side effects as compared to conventional photon therapies using traditional X-rays.
Based on product, cyclotrons accounted for the largest share in the particle therapy market
Based on product, the particle therapy products market is further segmented into cyclotrons, synchrotrons, and synchrocyclotrons. In 2021, the cyclotrons segment is expected to account for a share of 71.4% of the particle therapy market; this segment is projected to grow at a CAGR of 6.7% during the forecast period.
Advantages offered by cyclotrons over other accelerators and the development of technologically advanced systems are the major factors pushing the development of this market segment.
Asia Pacific segment accounted for the largest share in the particle therapy market by Region
The Asia Pacific market is expected to account for the largest market share in 2021 and is also projected to witness the highest growth rate during the forecast period.
The Asia Pacific region is expected to offer significant growth opportunities for players operating in the particle therapy market owing to the increasing healthcare expenditure and growing initiatives to promote the use of advanced particle therapy technologies in the Asia Pacific countries.
Key Market Players
Prominent players in the particle therapy market include IBA Worldwide (EU), Hitachi, Ltd. (Japan), Varian Medical Systems, Inc. (US), Provision Healthcare, LLC (US), Optivus Proton Therapy, Inc. (US), and Protom International, Inc. (US).
Premium Insights
- Increasing Cancer Prevalence to Drive Market Growth
- Asia-Pacific to Register Highest CAGR During Forecast Period
- Proton Therapy to Account for Largest Share of Asia-Pacific Market in 2021
- China to Register Highest Revenue Growth During Forecast Period
- Developing Markets to Register Higher Growth Rate During Forecast Period
Market Dynamics
Drivers
- Advantages Offered by Particle Therapy Over Photon Therapy
- Growing Global Prevalence of Cancer
- Growing Adoption of Particle Therapy in Clinical Trials
- Increasing Number of Particle Therapy Centers Worldwide
- Rising Technological Advancements
Restraints
- Infrastructural Challenges in Healthcare Facilities
- Affordability and Accessibility of Treatments
- Unfavorable Reimbursement Policies and Limited Insurance Coverage for Particle Therapy
Opportunities
- Growing Adoption of Particle Therapy in Emerging Markets
- Rising Healthcare Expenditure Across Developing Countries
Challenges
- Difficulties in Visualizing Tumors During Particle Therapy Procedures
- Increasing Risk of Radiation Exposure
COVID-19 Impact on Economic Scenario in Particle Therapy Market
Ecosystem Analysis
- Pricing Analysis
- Supply Chain Analysis
Patent Analysis
- Patent Publication Trends for Particle Therapy Market
- Top Applicants (Companies) for Particle Therapy Patents
- Jurisdiction Analysis: Top Applicants (Countries) for Patents in Particle Therapy Market
Company Profiles
Key Players
- IBA Worldwide
- Varian Medical Systems, Inc.
- Hitachi Ltd.
- Mevion Medical Systems
- Sumitomo Heavy Industries Ltd.
- Provision Healthcare, LLC
- Toshiba Medical Systems Corporation
- Optivus Proton Therapy, Inc.
- Protom International, Inc.
- Advanced Oncotherapy plc.
Other Players
- Danfysik A/S
- P-Curea
- Ptw Freiburg GmbH
For more information about this report visit https://www.researchandmarkets.com/r/t7jzhw
View source version on businesswire.com: https://www.businesswire.com/news/home/20220719005746/en/