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.
Particle Therapy Market by Type (Heavy Ion, Proton Therapy), Products (Cyclotron, Synchrotron, Synchrocyclotron), Services, System (Single-room, Multi-room), Cancer Type (Pediatric, Prostate, Breast), Application (Treatment, Research) - Forecast to 2023
The global particle therapy market is projected to reach USD 1,349 million by 2023 from USD 865 million in 2018, at a CAGR of 9.3%.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.
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The Global particle therapy market is Segmented on:
- Type
- Products
- Services, System
- Cancer Type
- Application
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.
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Regional Analysis:
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.
Key Players:
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)