Proton Therapy Market
Proton therapy may be used in conjunction with other treatments. The treatment is non-invasive, painless, and takes only minutes per day and can be conducted on an out-patient basis so the patients may carry on their normal daily activities.
Statistics:
The global proton therapy market is estimated to account for US$ 4,494.0 Mn in terms of value by the end of 2027.
Global Proton Therapy Market: Drivers
Proton therapy offers several advantages such as precise targeting of tumors and cancer cells, minimal exit dose, reduced overall toxicity, and low number of short- and long-term side effects on surrounding healthy tissues and organs. Such advantages are expected to propel growth of the global proton therapy market over the forecast period.
Global Proton Therapy Market: Opportunities
Increasing funding for cancer research is expected to offer lucrative growth opportunities for players in the market. For instance, according to the National Cancer Research Institute (NCRI), cancer research funding by NCRI partners reached around US$ 750 million in 2018/19.
Global Proton Therapy Market: Restraints
Side effects of proton therapy are expected to hamper growth of the market. Side effects of proton therapy include, fatigue and skin problems, including redness, irritation, swelling, dryness, or blistering and peeling.
Key Takeaways:
The Multiple Room segment in the global proton therapy market was valued at US$ 1,019.4 Mn in 2019 and is expected to reach US$ 3,513.9 Mn by 2027 at a CAGR of 16.7% during the forecast period. Increasing number of healthcare facilities offering proton therapy is also expected to aid in growth of the segment.
Lung Cancer segment held dominant position in the global proton therapy market in 2019, accounting for 22.1% share in terms of value, followed by Head & Neck Cancer, respectively. Increasing prevalence of cancer is expected to boost growth of the global proton therapy market over the forecast period.
Market Trends
Government organizations are focused on boosting the number of photon therapy centers. For instance, in February 2020, Advanced Oncotherapy announced its plans to install a Linac Image Guided Hadron Technology in collaboration with University Hospitals Birmingham NHS Foundation Trust.
Several studies are concluding positive results regarding the use of proton therapy. For instance, in December 2019, researchers at the Perelman School of Medicine at the University of Pennsylvania reported that proton therapy leads to a significantly lower risk of side effects.
Global Proton Therapy Market: Competitive Landscape
Major players operating in the global proton therapy market include, Hitachi Ltd., Ion Beam Applications SA, Mevion Medical Systems, Mitsubishi Electric Corporation, ProNova Solutions, LLC, ProTom International, Sumitomo Heavy Industries Ltd., and Varian Medical Systems.
Global Proton Therapy Market: Key Developments
Major players in the market are focused on establishing proton therapy center to enhance their market share. For instance, in November 2019, Mevion Medical Systems signed an agreement with Tianjin Port Free Trade Zone Administrative Committee and Tianyi Holdings to develop a proton therapy center in Tianjin, China.
Major players in the market are also focused on expanding their customer base. For instance, in August 2019, Ion Beam Applications S.A. signed a formal contract with the Institute for Basic Science to install a Cyclone 70 system in Daejeon, South Korea.
Segmentation
Scope of the report
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