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Particle Therapy Market is on an Upward Growth Curve

Apr 16, 2024


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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.


 


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Latest Drivers Restraint and Opportunities Market Snapshot:



  • Increasing adoption of advanced cancer treatment technologies

  • Growing prevalence of cancer worldwide

  • Favorable reimbursement policies for particle therapy treatments


The following are the primary obstacles to the Particle Therapy market's expansion:



  • High initial setup and operational costs of particle therapy facilities

  • Limited availability of skilled professionals in the field of particle therapy

  • Stringent regulatory requirements for the approval of particle therapy systems


Future expansion opportunities for the global Particle Therapy market include:



  • Rising investment in research and development activities to enhance particle therapy technology

  • Expanding applications of particle therapy beyond traditional oncology treatments

  • Emerging markets with increasing healthcare infrastructure and demand for advanced cancer treatments

  • The North American region is anticipated to exhibit the most substantial Compound Annual Growth Rate (CAGR).


 


Market Analysis:


The substantial increase in individuals afflicted with diverse forms of cancer stands out as a pivotal driving force for this market. As particle therapies serve as a treatment avenue for cancers, the escalating prevalence of such conditions is anticipated to emerge as the primary catalyst for market expansion. Consequently, considering the aspects above, substantial growth is foreseen in the studied market over the analysis period. Nonetheless, impediments such as infrastructural constraints within healthcare facilities, unfavorable reimbursement policies, and restricted insurance coverage for particle therapy are poised to impede market growth.


 


List of Prominent 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

  • Other Market Players


 


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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 Dynamics:


Market Drivers: Proton Therapy for Lung Cancer And Brain Cancer Has Proven To Be a Reasonable Treatment


Proton therapy, also known as proton beam therapy, is a form of radiation therapy that uses protons rather than X-rays to treat cancer. It uses an external machine to deliver radiation painlessly through the skin. Notably, proton therapy demonstrates efficacy in treating localized cancers near critical organs such as the brain and spinal cord. Common cancer types addressed by proton therapy include eye cancer, head and neck cancer, lung cancer, and prostate cancer. Proton therapy has emerged as a viable treatment option, particularly for lung and brain cancers localized within specific regions. Brain tumors, notably, stand as a leading cause of cancer-related mortality in children aged 0-14 years. The rising incidence of the cancers above contributes significantly to the growth trajectory of the proton therapy segment.


Challenges: Lack of Precise Visualization of the Tumor


One of the significant challenges encountered in particle therapy lies in the lack of precise visualization of the tumor and the ability to differentiate it from surrounding normal and healthy tissue. This challenge primarily stems from the inherent limitations of current imaging techniques in accurately delineating tumor boundaries and distinguishing them from adjacent healthy tissue. Traditional imaging modalities such as X-rays, computed tomography (CT), and magnetic resonance imaging (MRI) may not always provide sufficient resolution or contrast to precisely identify tumor margins, especially in cases where tumors are located near critical structures or exhibit irregular shapes. This limitation becomes particularly pronounced in the context of particle therapy, where the goal is to precisely deliver radiation to the tumor while minimizing exposure to surrounding healthy tissues.


North America Is Expected To Grow With The Highest CAGR During The Forecast Period


The North America Particle Therapy Market is projected to have the maximum market revenue share. This can be ascribed to the prompt adoption of innovative medical treatments and the increased availability of particle therapy centers. Moreover, the rise in research and development activities in the pharmaceutical as well as biotechnology sectors is expected to improve the market.


Moreover, the increasing prevalence of cancer patients and the need for cutting-edge treatment methods in the Asia Pacific region is projected to hasten the growth of the market. The convergence of these factors, together with the growing number of mergers and acquisitions in the business and advancements in healthcare infrastructure, is expected to promote the adoption of particle treatment in countries like China, India, and other nations.


Moreover, the increasing prevalence of cancer patients and the need for cutting-edge treatment methods in the Asia Pacific region is projected to hasten the growth of the market. The convergence of these factors, together with the growing number of mergers and acquisitions in the business and advancements in healthcare infrastructure, is expected to promote the adoption of particle treatment in countries like China, India, and other nations.


 


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Segmentation of Particle Therapy Market-


By Type -



  • Proton Therapy

  • Heavy Ion Therapy


 


By Product & Service



  • Products

    • Cyclotrons

    • Synchrotrons

    • Synchrocyclotrons



  • Services


By Application-



  • By App Treatment Applications

  • Research Applications


 


By System



  • Multi-Room Systems

  • Single-Room Systems


By Cancer Type



  • Pediatric Cancer

  • Prostate Cancer

  • Lung Cancer

  • Breast Cancer

  • Head and Neck Cancer

  • Other Cancers


By Region-


North America-



  • The US

  • Canada

  • Mexico


Europe-



  • Germany

  • The UK

  • France

  • Italy

  • Spain

  • Rest of Europe


Asia-Pacific-



  • China

  • Japan

  • India

  • South Korea

  • South East Asia

  • Rest of Asia Pacific


Latin America-



  • Brazil

  • Argentina

  • Rest of Latin America


 Middle East & Africa-



  • GCC Countries

  • South Africa

  • Rest of Middle East and Africa


 


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