Global Particle Therapy Market : Advantages Offered By Particle Therapy Over Photon Therapy

Particle Therapy Market

Pune, India, 2021-Jan-20 — /EPR Network/ —

The study involved four major activities to estimate the current market size for particle therapy. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter market breakdown and data triangulation was used to estimate the market size of segments and subsegments.

Major Growth Drivers:

Growth in the particle therapy market is primarily driven by factors such as the various advantages offered by particle therapy over photon therapy, growing global prevalence of cancer, increasing adoption of particle therapy in clinical trials, and the increasing number of particle therapy centers worldwide.

Expected Revenue Growth:

The particle therapy market is projected to grow from an estimated USD 865 million in 2018 to USD 1,349 million by 2023, at a CAGR of 9.3% during the forecast period.

Accessories to Fuel the Growth of Particle Therapy Market :

The particle therapy market comprises several stakeholders such as particle therapy product manufacturers, suppliers and distributors, healthcare service providers, and research institutes. The demand side of this market is characterized by the increasing awareness about minimally invasive cancer treatment options and the global rise in the prevalence of cancer. The supply side is characterized by advancements in technology. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

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By product, the synchrotron segment is expected to grow at the highest rate during the forecast period

Synchrotrons are used to accelerate both protons and heavy ions such as carbon and hydrogen. The growth of the synchrotrons segment is attributed to factors such as the increasing number of research activities as well as the increasing investments in the development of synchrotron facilities.

By type, proton therapy is expected to be the largest contributor to the particle therapy market

The large share of the proton therapy segment can be attributed to factors such as the high degree of precision, shorter treatment time, and reduced side-effects associated with proton therapy as compared to conventional photon therapies using X-rays. Other factors such as the increasing research activities in the field of radiation oncology using proton therapy systems, rising number of proton therapy centers, and longer equipment lifespan of proton therapy (30 years or more) in comparison to photon therapy (10 years) are expected to support the growth of this market in the coming years.

Asia Pacific is expected to hold a significant share in the particle therapy market during the forecast period

The Asia Pacific is one of the major revenue generating regions in the particle therapy market. China and Japan are the major countries responsible for the high growth of this regional market owing to factors such as the increasing per capita income, improving healthcare infrastructure, and supportive government activities in these emerging countries. Furthermore, the increasing geriatric population, growing incidence of cancer, and rising acceptance of particle therapy procedures and devices are also driving the growth of this regional market.

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Ion Beam Applications SA (Belgium), Varian Medical Systems, Inc. (US), and Hitachi, Ltd. (Japan) are the major players operating in the particle therapy market. Other players in this market include Provision Healthcare (US), Mevion Medical Systems, Inc. (US), Sumitomo Heavy Industries, Ltd. (Japan), Optivus Proton Therapy, Inc. (US), ProTom International, Inc. (US), Advanced Oncotherapy Plc. (UK), and Danfysik A/S (Denmark).

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