Market Overview –
The Global Particle therapy market is expected to increase at a rate of 8.2 percent over the projection period of 2022-2028, with a market value of roughly $625.69 million in 2021. Extensive protons, neutrons, or any other heavy positive ions can be used in particle therapy to treat cancer. With an increasing number of people being diagnosed with cancer, more clinical trials using particle therapy, new technologies emerging, and an increase in particle therapy facilities worldwide, market growth can be attributed to many different factors.
As an example, the National Cancer Institute estimates that there were 18.1 million cancer patients in 2018, and that number is expected to climb to 29.5 million by 2025. When a result, as cancer rates rise, so does the global need for Particle Therapy, driving the market’s expansion. Market expansion will be hindered by rising radiation exposure and infrastructural constraints in healthcare facilities over 2022-2028. In addition, the growing need for particle therapy in emerging nations and the rising healthcare costs are expected to drive the market demand throughout the forecast period.
The treatment of cancer with high-energy protons, neutrons, or positive ions is referred to as particle therapy. Particle therapy is a form of external beam radiation therapy. Ionized particles with a high energy output are used to specifically target malignancies in the process of particle treatment. These particles induce damage to the DNA of the target tissue cells, which ultimately leads to the death of those cells. Since cancer cells have a limited capacity to repair damaged DNA, they are more susceptible to attack as a result of this.
Market Analysis and Insights –
It is predicted that the particle treatment market will expand from 2021 to 2028. A CAGR of 9.45% is projected for the market by Data Bridge Market Research for the aforementioned forecast period. Particle therapy’s growing advantages over photon therapy are fueling the demand for particle therapy.
Outside-beam radiation therapy using protons, neutrons, or ions is known as particle therapy and is used to treat cancer. Particle therapy approaches include proton therapy, fast-neutron therapy, carbon–ion radiation, and others.
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In addition to the rising number of particle therapy centers around the world, increasing cancer incidence, increasing investment in cancer research, and an increasing number of particle therapy centers and clinical trials, the growing prevalence of cancer is a major factor in the growth of the particle therapy market. It is expected that the increasing geriatric population, as well as technical developments and modernization in the healthcare apparatus will provide new chances for the particle therapy market in the anticipated period of 2021-2028.
There are, however, several factors that will impede the growth of the particle therapy market, including rising infrastructural challenges in healthcare facilities, increasing affordability and accessibility of treatments, and increasing unfavorable reimbursement policies and limited insurance coverage for particle therapy.
Market Dynamics –
The growth of the market for particle therapy systems is directly proportional to the ever-increasing number of people who are being treated for cancer. The rise in demand can be attributed to two different sources. First and foremost, the number of people who are affected by this fatal illness. Second, the rise in income that can be attributed to the progress and expansion that has taken place all over the world.
The state of the individual is a significant factor in determining whether or not they will choose to take medication. Because there are many different players in the industry, the share is extremely dispersed. It’s possible that this is attributable to an increase in the number of people being diagnosed with cancer. The only way to break into and dominate this industry is to make significant investments in research and development and come up with a level of treatment that is both more advanced and more successful.
Some of the companies that are profiled in this report are –
Varian Medical Systems
Ion Beam Applications Sa (IBA)
Mevion Medical Systems, Inc.
Provision Healthcare, LLC
Sumitomo Heavy Industries, Ltd.
Optivus Proton Therapy, Inc.
Protom International, Inc.
Advanced Oncotherapy PLC.
By type –
Heavy Ion Therapy
By application –
By Region Analysis –
On the basis of regional analysis, the global proton therapy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The highest share of the proton therapy market is captured by the United States which can be attributed to increased focus on research and development in the country. Europe is expected to be in the second place as this therapy is extensively used in that region owing to the presence of high percentage of geriatric population across the region.
In Asia Pacific, the increase in the target population is increasing at an exponential rate. Additionally, rising awareness among people and increased expenditure in healthcare sector is anticipated to boost the market growth in the Asia Pacific region.