Particle Therapy Market: Historical, Current and Projected Market Size, Competitive landscape & Forecast 2023

Market Highlights:

Particle Therapy Market are used for the treatment of various type of cancer such as prostate cancer, lung cancer, pediatric cancer, head and neck cancer, breast cancer, and others by using most advanced areas of external beam radiation therapy.The increasing number of cancers affected population, increasing adoption of particle therapy, and rising particle therapy centers across the globe are the major factors driving the growth of the global particle therapy market. Additionally, increasing R&D spending and aggressive strategies adopted by the top players are fueling the growth of the market during forecast period. For instance, according to report published by Particle Therapy Co-Operative Group, in 2016, till 2014 around 1802 patients were treated with particle therapy. Whereas, in United States, around 78,613 cancer patients were treated with particle therapy till 2016.The high costs associated with establishments of centers and lack of reimbursement policy are likely to hinder market growth during the forecast period.

Regional Analysis:

The market is likely to dominate by Americas during the forecast period owing to the increasing prevalence of cancer patients, rising government focused towards establishment of particle therapy centers for treatment, and well-established healthcare sector in the region. The European market is expected to be the second-largest due to government funding and support of the healthcare sector, coupled with increasing research and development. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to technological development, increasing adoption of advance treatment from developed countries, and favorable government initiatives for healthcare facilities. The market in the Middle East & Africa is likely to account for the smallest share of the global particle therapy market.

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Segmentation:

The Global Particle Therapy Market has been segmented on the basis of type, product & service, cancer type, system, and application.On the basis of type, the market has been segmented into proton therapy and heavy ion therapy. The particle therapy market, by product and services, has been segmented into products and services. Products are further classified into cyclotrons, synchrotrons, and synchrocyclotrons. On the basis of cancer type, the market has been divided into prostate cancer, lung cancer, pediatric cancer, head and neck cancer, breast cancer, and others. Based on system, market has been segmented into multi-room systems and single-room systems. On the basis of application, the market has been classified as treatment applications and research applications. The pediatric cancer segment is expected to hold the largest market share of the particle therapy market, by cancer type, during the forecast period. Also, research applications to register the highest CAGR in the global particle therapy market during the forecast period.

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Key Players:

Some of the key players in the global particle therapy market are Advanced Oncotherapy PLC., Danfysik A/S, Hitachi, Ltd., Ion Beam Applications Sa (IBA), Mevion Medical Systems, Inc., Optivus Proton Therapy, Inc., Protom International, Inc., Provision Healthcare, LLC, Sumitomo Heavy Industries, Ltd., Varian Medical Systems, Inc.

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