Global Proton Therapy Market is expected to rise from its initial estimated value of USD 1.13 billion in 2017 to a projected value of USD 3.56 billion by 2023, registering a CAGR of 15.34% in the forecast period of 2019-2023. This rise in market value can be attributed to growth of the population suffering from cancer.
Global Proton Therapy Market: By Type of System (Single Room
System and Multi-Room System), By Application (Paediatric Cancer, Head &
Neck Cancer, Prostate Cancer, Lung Cancer, Gastro-Intestinal Cancer, Brain
Cancer and Others), By End-User (Hospitals, Radiotherapy Centers and Others)
and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor
Analysis 2012-2016 and Forecast 2017-2023
Market Outline: Global Proton Therapy Market
Proton therapy is also known as proton beam radiation therapy. Proton is a positively charged particle, and in high energy levels protons can destroy the cancer cells. Proton therapy is a non-invasive procedure in which proton radiation used to treat cancer. Proton therapy is a type of external beam radiation therapy, that painlessly delivers radiation through the skin from outside of the body. For the treatment of cancer, proton therapy may be prescribed alone or along with the other treatments such as surgery, chemotherapy, general radiation therapy and or immunotherapy.
Market dynamics: Global Proton Therapy Market
Global proton therapy market is mainly driven by an increase in the adaptation of non-invasive therapies in the treatment of cancer. In addition, growing number of radiation centers globally coupled with the increase in the prevalence of the cancer cases expected to fuel the market growth over the forecast period. Furthermore, proton therapy is more advantageous than the other radiation therapies. Proton therapy delivers up to 60% less radiation to healthy tissue around the tumor and has fewer side effects during and after the treatment. Based on above-mentioned factors global proton therapy market is expected to increase its traction over the forecast period. However, a high cost of proton radiation therapy and stringent regulatory procedures may hamper the global proton therapy market over the forecast period.
Market Scope: Global Proton Therapy Market
Global proton therapy market is segmented based on type of system, application and end user
Based on type of system, global proton therapy market is segmented into
Single Room System
Based on application, global proton therapy market is segmented into
Head & Neck Cancer
Based on end user, global proton therapy market is segmented into
Market Summary: Global Proton Therapy Market
Global proton therapy market is expected to grow at significant CAGR rates during the forecast period owing to the factors such as growing prevalence of cancer and adaptation of non-invasive techniques such as radiation therapy to treat the cancer tumors. Companies in proton therapy market are striving to increase its market share by the development of the innovative treatment options through proton radiation therapy to treat various cancer tumors. For instance, in September 2017, Elekta and Ion Beam Applications (IBA) has entered into a collaboration to work closely together in software development as well as sales and marketing of each other products. Under the agreement, Companies seeks to develop a novel functionality for the proton therapy treatment in Monaco treatment planning system of Elekta and MOSAIQ oncology information system. Furthermore, companies also acquiring other competitors and adapting strategies such as mergers and geographical expansions to strengthen their position in the market.
Regional Analysis: Global Proton Therapy Market
Geographically proton therapy market is divided into five key regions, i.e., North America, Europe, Asia-Pacific, Latin America, The Middle East & Africa. North America proton therapy market is expected to grow at notable rates owing to the factors such as growing number of cancer patients favorable reimbursement scenario and growing awareness related to radiotherapy advantages over the other treatment procedures. Asia Pacific proton therapy market is expected to grow at notable rates owing to the factors such as growing number of cancer patients in the region, additionally, developing hospital infrastructure coupled with the increase in healthcare spending projected to boost the proton therapy market in the region. Furthermore, the establishment of new radiotherapy centers for treatment of cancer by well-established healthcare providers such as Apollo in India may drive the proton therapy market share in the region.
Competition Assessment: Global Proton Therapy Market
Key players in global proton therapy market include
IBA (Ion Beam Applications S.A.) (Belgium)
Hitachi, Ltd. (Japan)
Varian Medical Systems (U.S.)
Mitsubishi Electric Corporation (Japan)
Optivus Proton Therapy, Inc. (U.S.)
Mevion Medical Systems (U.S.)
Advanced Oncotherapy plc (U.K.)
ProTom International Inc, (U.S.)
ProNova Solutions LLC (U.S.)
Sumitomo Heavy Industries, Ltd. (Japan)
Notable Market Developments: Global Proton Therapy Market
In September 2017, Mevion Medical Systems announced the submission of 510 (K) premarket notifications to U.S. Food and Drug Administration for its proton therapy system MEVION S250i with pencil beam hyper scan technology.
In October 2014, Hitachi Ltd. And its development partner, Hokkaido University launched a new single room compact 360-degree proton beam therapy system
Key Features of the Report:
The report provides granular level information about the market size, regional market share, historic market (2012-2016) and forecast (2017-2023)
The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
The report tracks recent innovations, key developments and startup’s details that are actively working in the market
The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
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