The Global Proton Therapy Market size was USD 546.88 million in 2022 and it is expected to grow to USD 1,511.19 million in 2030 with a CAGR of 14.85% in the 2022-2030 period.
Global Proton Therapy Market: Overview
Proton Therapy or Proton Beam Therapy is a radiation treatment used to treat cancer patients. It involves a beam of proton precisely delivered at target cancer cells to destroy them. Compared to traditional radiation, proton beam therapy enables doctors to target affected cells and the tumor as a whole to destroy it.
The proton therapy market is growing day by day due to various driving factors. Growth in the number of cancer patients, advantages over traditional radiation therapy, technological advances, increased government funding, and a shift of patient preference towards non-invasive cancer treatment options are leading drivers of the market growth. However, there are some restraints too. Lack of reimbursement, High Cost of Equipment & Treatment, Limited availability, and access, need for specialized facilities & properly trained staff, and uncertainty in clinical efficacy compared to traditional radiation therapy are a few to mention. The market is segmented into five key regions namely North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. And the region-wise contribution to the proton therapy market is studied here.
Key Insights
- As per the analysis done by our research analyst, the Global Proton Therapy Market is estimated to grow with a CAGR of 14.85% over the forecast period (2023-2030).
- In terms of revenue, the Global Patient Monitoring Market size was valued at 546.88 million in 2022 and is estimated to grow to around USD 1,511.19 million in 2030.
- Due to various driving factors, the Proton Therapy Market is predicted to grow at a significant rate. A growing number of cancer patients is a leading cause.
- Based on the Indication, the central nervous system cancer (CNS Cancer) held the maximum market share of around 37% in 2022.
- Based on the Product Segmentation, the accelerator segment was the biggest revenue contributor in 2022.
- Based on End-User analysis, the hospital segment dominated the market share.
- By Regional Analysis, North America contributes a major share of the market.
COVID-19 Impact:
COVID-19 has hampered the growth of various markets over the globe due to its severity and high infection rate. Many countries around the globe adopted social distancing as a serious measure to safeguard against the COVID-19 virus. There were lockdowns imposed by governments in many countries across the globe. The major task before the governments was to strengthen their healthcare sector to accommodate the growing number of patients in hospitals and to cater to them with the necessary treatments. Thus, the general medical procedures were modified accordingly. But keeping in mind the needs of cancer patients and the severity of the cancer diseases, those who are suffering from cancer were given some soft corners. Their regular checkup routine and radiation schedule were not interrupted, as a result, the proton therapy market grew at a constant rate during the pandemic times though initially, it suffered resistance, later on, regular cancer treatment procedures were carried out with necessary precautions.
Proton Therapy Market Dynamics:
Driving factors:
- Increasing cancer incidence: Increasing cancer incidences is one of the major drivers for the growth of the proton therapy market. With the increasing global burden of cancer, the demand for effective and precise radiation therapy has increased. Proton therapy is a highly targeted form of radiation treatment that can minimize damage to healthy tissues and organs, making it a desirable treatment option for many types of cancer. As a result, the demand for proton therapy is expected to grow in response to the increasing incidence of cancer worldwide.
- Rising Patient preferences for non-invasive treatments: Rising patient preferences for non-invasive treatments is also a major driver for the proton therapy market. Proton therapy is a non-invasive form of radiation treatment that does not require surgery, making it an attractive option for many patients. This, combined with its precise targeting and minimization of damage to healthy tissues, has made proton therapy a popular choice among patients looking for effective yet non-invasive cancer treatments. As a result, the demand for proton therapy is expected to grow as more patients opt for non-invasive treatments.
Restraints:
- High Cost of equipment & treatment: The high cost of equipment and treatment is one of the major restraints in the proton therapy market. Proton therapy systems are expensive to purchase and maintain, and the cost of treatment can be significantly higher than traditional forms of radiation therapy. This can make it difficult for hospitals and clinics to adopt proton therapy and can limit access for patients who may not be able to afford the treatment. The high cost of proton therapy is a major barrier to its widespread adoption and is expected to continue to be a challenge for the market in the coming years.
Opportunities
- Expansion into Developing Countries: Expansion into developing countries is an opportunity for the proton therapy market. As the global burden of cancer continues to increase, demand for effective and precise radiation therapy is growing, particularly in developing countries where access to advanced medical treatments can be limited. The expansion of proton therapy into these markets can help to address this demand and increase access to effective cancer treatment for patients. However, this expansion will require overcoming challenges such as the high cost of proton therapy systems and the need for specialized facilities and trained personnel. Nevertheless, the potential for growth in these markets represents a significant opportunity for the proton therapy market.
Proton Therapy Market Scope:
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Attribute
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Details
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Market Size in 2022
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USD 546.88 million
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Estimated Market Size in 2030
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USD 1,511.19 million
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CAGR Growth Rate
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14.85%
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Base Year
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2022
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Forecast Years
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2023-2030.
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Major Regions Covered
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- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East & Africa
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Companies Covered
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Hitachi, Ltd., Ion Beam Applications S.A., Mevion Medical Systems, Mirion Technologies Ltd., Optivus Proton Therapy, Inc., Provision Healthcare, Pro Tom International, Siemens, Sumitomo Heavy Industries, Ltd., Varian medical systems, Inc GE Healthcare and Toshiba Corporation.
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Report Coverage
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Revenue Forecast, Company Share, Competitive Landscape, Growth Factors, Restraints, Opportunities, Value Chain Analysis, Porter’s Five Forces Analysis, Patent Analysis, Market Attractiveness Analysis
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Proton Therapy Market: Segmentation
- Based on Indication: Central Nervous System Cancer has accounted for major growth in terms of revenue in 2022. The rising prevalence of chronic diseases such as cancer, the most common growing disorder among the population, is driving customer demand for new advanced technologies in the radiation therapy market, boosting the market for proton therapy. Breast cancer is also expected to be the largest market rising factor, with improved demand for therapies and advanced technology encouraging the proton therapy market to grow with growing share.
- Based on Product: The Accelerator segment has accounted for the major growth of the market.
- On the basis of type: the proton therapy market is segmented into rotating proton therapy systems and non-rotating proton therapy systems. Rotating proton therapy systems segment is projected to dominate the proton therapy market in 2021, on account of the ability to provide precise treatment from every angle to the patient.
- On the basis of set-up systems: the market is segmented into multi-room systems and compact/ single-room systems. The multi-room systems segment is going to dominate the proton therapy market in 2021, as it is more economical option as compared to the compact systems.
- By End User Analysis: The market is segmented into Hospitals, Proton Therapy Centers, and Others. Of these, the Hospitals segment has accounted for major growth of the market. With an increasing number of patients with cancer disorders and an growing number of policies imposed by the government such as reimbursement and developing infrastructure in the healthcare center, the hospital segment has held the highest market share of more than 55% in proton therapy.
Regional Insights:
North America dominated the global industry in 2021 and accounted for the highest share of more than 42% owing to increased facilities in the region, rising chronic disorders among the population, and increasing patients among the population who are changing their lifestyle and dietary intake.
This boosts the proton therapy market during the forecast period. New advanced technologies are being developed in the market, with increased professional skills and increased government support for the integration of new developments in proton therapy and their installation in health care facilities. The key market players play major roles in the proton therapy market, with increased funding from the key market players aiding in the growth of the proton therapy market.
Because of rising diagnostic rates, the United States is leading the growth of the North American region. Because of the presence of major players such as IBA Worldwide in the country, the United Kingdom dominates the European market.
Competitive Analysis:
The Global Proton Therapy market is driven by Hitachi, Ltd., Ion Beam Applications S.A., Mevion Medical Systems, Mirion Technologies Ltd., Optivus Proton Therapy, Inc., Provision Healthcare, Pro Tom International, Siemens, Sumitomo Heavy Industries, Ltd., Varian medical systems, Inc GE Healthcare and Toshiba Corporation.
Recent Developments:
- July 2022: In July 2022, CORESTEM (South Korea) continued enrolling participants for the Phase 3 clinical trials of NeuroNata-R. This treatment has received conditional approval for treating ALS patients in South Korea.
- January 2021: Thermo Fisher Scientific announced the development of a new medium for the expansion and development of human T-Lymphocytes.
- September 2020: The US Food and Drug Administration approved the investigational new drug (IND) application of Baylx Inc. The company filed application for Umbilical cord MSC’s.
Proton Therapy Market Segment as follows:
By Indication
- Head and Neck cancer
- Prostate cancer
- CNS cancer
- Breast cancer
- Others
By Product
- Accelerator
- Beam transport system
- Patient positioning system
- Bean delivery system
- Nozzle and image viewers
By Type
- Rotating Proton Therapy Systems
- Non-Rotating Proton Therapy Systems
By Set-Up Systems
- Multi-Room Systems
- Compact/ Single-Room Systems
By End-User
- Hospitals
- Proton therapy center
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
Frequently Asked Questions (FAQs):
Which is the leading segment in the market?
Among Product Types, the Accelerator segments is the leading segment in the market.
What are the key factors driving the market?
Growth in the number of cancer patients, advantages over traditional radiation therapy, technological advances, increased government funding, and a shift of patient preference towards non-invasive cancer treatment options are leading drivers of the market growth.
Which region will contribute notably towards the Proton Therapy Market growth?
North America contributes notably towards the Proton Therapy Market.
What are the key players in Proton Therapy Markets?
Hitachi, Ltd., Ion Beam Applications S.A., Mevion Medical Systems, Mirion Technologies Ltd., Optivus Proton Therapy, Inc., Provision Healthcare, Pro Tom International, Siemens, Sumitomo Heavy Industries, Ltd., and Toshiba Corporation.