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The Particle Therapy Market Size is valued at USD 703.83 Mn in 2023 and is predicted to reach USD 1,396.97 Mn by the year 2031 at a 9.13% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- Particle therapy is gaining traction as a promising treatment modality for various types of cancers due to its precision and reduced side effects.
- Collaborations and partnerships among key industry players and research institutions are driving innovation in particle therapy technology.
- In terms of application, the segment focusing on Spinal Cord Tumors holds the largest market share."
- "In terms of services, the segment focusing on Cyclotrones holds the largest market share."
- The North American region is anticipated to exhibit the most substantial Compound Annual Growth Rate (CAGR).
Particle therapy, also known as particle beam therapy, is a type of sophisticated radiation therapy used to treat cancer. It entails targeting and destroying malignant cells using charged particles like protons or heavier ions such as carbon. The global incidence and prevalence of cancer influence the desire for sophisticated cancer treatment options such as particle therapy.
As cancer rates rise, there is a greater need for effective and targeted treatments such as particle therapy. Due to the increasing prevalence of the fatal condition, innovative therapeutic approaches are required. Particle therapy is a cutting-edge cancer treatment method. External beam radiation treats tumours with protons and neutrons. The discharge of energetic ionizing particles at the target site breaks the DNA of the cells, causing tumour cells to die.
However, the COVID-19 pandemic impacted healthcare services, especially elective procedures like cancer treatment. Many healthcare facilities were forced to divert resources to deal with COVID-19 cases, causing delays or rescheduling of non-urgent treatments like particle therapy.
Competitive Landscape
Some Major Key Players In The Particle Therapy Market:
- Advanced Oncotherapy plc
- Danfysik A/S
- Hitachi, Ltd.
- IBA Worldwide
- Ion Beam Applications SA
- Mevion Medical Systems, Inc.
- Optivus Proton Therapy, Inc.
- ProTom International, Inc.
- Provision Healthcare, LLC
- Sumitomo Heavy Industries, Ltd.
- Toshiba Medical Systems Corporation
- Varian Medical Systems, Inc
Market Segmentation:
The Particle Therapy market is divided on the basis of type, product & service, system, cancer type, and application. Based on type, the market is segmented as proton type and heavy ion therapy. The product segment includes cyclotrons, synchrotrons, and synchrocyclotrons. By system, the market is segmented into multi-room systems and single-room systems. The cancer-type segment includes pediatric cancer, prostate cancer, lung cancer, head & neck cancer, breast cancer, and others. Application segment includes app treatment and research applications.
Based On Product, The Proton Type Segment Is Accounted As A Major Contributor In The Particle Therapy Market
The proton-type category is expected to hold a major share of the Particle Therapy Market in 2022. Proton therapy applications to treat malignancies such as brain tumours, breast cancer, pediatric cancer, head and neck cancer, and other noncancerous tumours are likely to drive the worldwide particle therapy market over the forecast period. Doctors can send radiation to a specified depth in the body because of the unique physical properties of protons. As a result, proton therapy outperforms heavy ion therapy.
Cyclotrons Segment Witness Growth At A Rapid Rate
The cyclotrons segment is projected to grow at a rapid rate in the global particle therapy market. A cyclotron is a crucial piece of gear for proton therapy, which uses a focused beam of protons directed to a tumour site to treat different cancers. Cyclotrons are the most popular form of proton beam treatment, which generates and accelerates protons to 60% of the speed of light and 250 Mn electron volts.
In The Region, The North American Particle Therapy Market Holds A Significant Revenue Share.
The North America Particle Therapy Market is expected to register the maximum market share in terms of revenue in the near future. This can be attributed to the early adoption of novel medicated treatment and the availability of more particle therapy centres. Furthermore, the increase in R&D in the pharmaceutical and biotechnology industries is likely to enhance the market.
Furthermore, the growing number of cancer patients and the demand for innovative treatment techniques in the Asia Pacific is expected to accelerate market expansion. This, combined with increasing mergers and acquisitions among industry participants and improved healthcare infrastructure, is projected to encourage the use of particle treatment in nations such as China, India, and others.
Recent Developments:
- In May 2022, Mevion Medical Systems was chosen to deploy a MEVION S250i Proton Therapy System featuring HYPERSCAN Pencil Beam Scanning (PBS) at a leading hospital in Southern China.
- In April 2022, The Connecticut Office of Health Strategy (OHS) conditionally approved the certificate of need application, enabling Harford HealthCare Corporation and Yale New Haven Health Services Corporation to establish proton therapy services. This establishment will be facilitated through a newly formed joint venture, Connecticut.
Particle Therapy Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 703.83 Mn |
|
Revenue Forecast In 2031 |
USD 1,396.97 Mn |
|
Growth Rate CAGR |
CAGR of 9.13% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Mn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type, By Product & Service, By System, By Cancer Type, By Application |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
IBA Worldwide (EU), Varian Medical Systems, Inc. (US), Hitachi, Ltd. (Japan), Mevion Medical Systems (US), and Sumitomo Heavy Industries, Ltd. (Japan). Toshiba Medical Systems Corporation (Japan), Provision Healthcare, LLC (US), ProTom International, Inc., Optivus Proton Therapy, Inc., Advanced Oncotherapy plc, Danfysik A/S |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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