According to the new market research report "Particle Therapy Market by Type (Proton Therapy, Heavy Ion), Products (Cyclotron, Synchrotron, Synchrocyclotron), Services, System (Single-room, Multi-room), Cancer Type (Pediatric, Prostate), Application (Treatment, Research) - Global Forecast to 2027", published by MarketsandMarkets™, the global 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.
Browse in-depth TOC on "Particle Therapy Market"
168 – Tables
46 – Figures
209 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=12809137
Key Market Players:
Prominent players in the particle therapy market include IBA Worldwide (EU), Mevion Medical Systems (US), Varian Medical Systems, Inc. (US), Sumitomo Heavy Industries, Ltd. (Japan), Hitachi, Ltd. (Japan), Toshiba Medical Systems Corporation (Japan), and Provision Healthcare, LLC (US). These players have implemented various development strategies such as product launches, acquisition, and expansion to other geography.
Drivers: Advantages offered by particle therapy over photon therapy
In recent years, particle therapy has undergone significant technological advancements. These advancements have helped manufacturers develop more effective and controlled particle therapy systems that are minimally invasive, deliver reduced levels of radiation to healthy tissues, and have fewer side effects.
Particle therapy, especially proton therapy, offers several advantages over conventional photon therapy. These benefits are propelling the growth of this market, especially in mature markets where the adoption rate of technologically advanced products is high. Listed below are some advantages of particle therapy over traditional photon-based radiotherapy methods:
- Targets tumors and cancer cells with more precision
- Less energy is released and minimal exit dose, which reduces the risk of damage to the surrounding healthy tissues and organs
- Reduces the overall toxicity and probability and/or severity of short- and long-term side-effects on the surrounding healthy tissues and organs, which, in turn, reduces the likelihood of secondary tumors caused by the treatment
- Is an appropriate alternative for patients who have reached the limit of conventional radiation
- Is more beneficial for pediatric patients in comparison to photon therapy as children have a constant high rate of mitosis, which requires a more targeted approach (easily achieved with proton therapy) with reduced risk of long-term side-effects
- Is a preferred alternative in cancers with limited treatment options
- Offers improved quality of life during and after treatment, with reduced chances of secondary tumors
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=12809137
Opportunities: Growing adoption of particle therapy in emerging markets
Rapid economic development and the increasing healthcare expenditure in many emerging countries such as China, India, Brazil, and Mexico are expected to improve access to quality healthcare in these countries. This is considered a positive indicator of the particle therapy market. The rising incidence of cancer in these countries results in the growth in the demand for various particle therapy devices and techniques. According to GLOBOCAN 2021, there were 9.5 million new cancer cases in the Asian region in 2021, and this figure is projected to reach 12.8 million by 2030.
In order to leverage the high growth opportunities for particle therapy in these markets, manufacturers are strategically focusing on expanding their presence in these countries. Some related developments are listed below:
- In April 2019, The Varian office in Hertford Office Park, Johannesburg, was officially inaugurated.
- In October 2019, Samyang Biopharmaceutical Corp. (South Korea) announced to expand its business operations in the US to leverage the company’s biopharmaceutical and medical device market in the country.
Additionally, due to less-stringent regulations and data requirements, the regulatory policies in the Asia Pacific region are considered more adaptive and business-friendly by market players. This encourages several companies to focus more on emerging markets in the coming years.
Asia pacific segment accounted for the largest share in the particle therapy market by Region
The market has been segmented on the basis of five regional segments, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. Among these, 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 market owing to the increasing healthcare expenditure and growing initiatives to promote the use of advanced particle therapy technologies in the Asia Pacific countries.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=12809137
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
