According to a recent market study published by Growth Market Reports, titled, "Global Particle Accelerators Market by types, applications, and regions: Size, Share, Trends and Opportunity Analysis, 2018-2028", the market was valued at USD 4,030.3 Million in 2020 and is anticipated to grow at a healthy growth rate of 7.4% by the year 2028. The global Particle Accelerators market is anticipated to grow significantly during forecast period.   

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Global Particle Accelerators market has been segmented based on by types, applications, and regions. In terms of types, the global Particle Accelerators is categorized as low-energy particle accelerator and high-energy particle accelerator. On the basis of applications, the market is segmented into healthcare, research institutes, and industrial. Based on regions the global Particle Accelerators market is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA).

Particle accelerators produce a beam of charged particles that are used for different research purposes. This beam of particle contains electrons, protons, and charged subatomic particles. Sometimes, uranium or gold, which are whole atoms of elements, are used. Particle accelerators are used by many scientists for studying the origin of universe, the sub atomic structure across the globe, advance research in healthcare, medicine, environmental clean up, and others.

The COVID-19 pandemic has negatively affected the Particle Accelerators market across the globe. Manufacture of particle accelerators was affected during the pandemic, due to restrictions and closure of global industries. Import and export of particle accelerators were affected majorly, due to transport restrictions in North America.

This, in turn, impeded the growth of the market. The supply chain management is facing difficulties, due to COVID-19. Biotechnological and pharmaceutical companies are working along with governments to control the COVID-19 outbreak by helping in vaccine development and addressing medicine supply chain challenges. Demand for particle accelerators increased during the pandemic, due to closure of manufacturing units during the lockdown. This, in turn, impeded the growth of the market. Governments imposed various restrictions on trade and commerce, which affected various sectors negatively. Globally, the government imposed lockdowns, which negatively affected the market.

As per Growth Market Reports industry analyst Raksha Sharma and Sakshi Bhoyar, “The global Particle Accelerators market is anticipated to witness significant growth during forecast period 2021-2028. Low-energy particle accelerators are widely used for the treatment of breast cancer, which is expected to fuel the segment. The healthcare segment is expected to hold a large share of the market, owing to the growing number of cancer patients, which increases the use of particle accelerators for treatment purposes. The Particle Accelerators market is fragmented with the presence of a medium and large-sized players, which in turn, is creating a moderate level of rivalry among manufacturers. The market is driven by rising research and development activities and increasing application of particle accelerators.

Key Takeaways from the Study

  • The Healthcare segment is increased by USD 69.1 Mn in 2021 over 2020. The overall incremental opportunity between 2018 and 2028 is expected to be valued at USD 1,272.1 Mn.
  • The market in North America is projected to expand at a significant CAGR during the forecast period. This growth may be attributed to presence of key market players in the region and early adoption of advanced technologies.
  • The low-energy particle accelerator segment held 59% value share of the market in 2020. The segment is projected to account for the largest share of the market during the forecast period
  • The Y-o-Y growth of the high-energy particle accelerator segment was improved by 3.74% due to the onset of COVID-19 pandemic between 2020 and 2021.
  • Varian Medical Systems, Inc, Elekta AB, ACCURAY INCORPORATED, Siemens Healthcare GmbH, Toshiba Corporation, Varex Imaging Corporation, and Shiniva are major player operating in the market.
  • In 2019, Siemens Healthineers exhibited a series of novel products and latest technology, such as innovations with X-ray machine, cutting edge technology with CT scanners, MRI, ultrasound portfolio, and the powerful AI-based system at IRIA in 2019. Siemens Healthineers offers India's largest cancer institute along with fully automated laboratory solutions.
  • In 2019, Altair Technologies Inc., linear accelerator and furnace brazing manufacturer is launching its new websites for better serving of the Industries such as Semiconductor, Medical, Security, Defense, and Aerospace. Also, they developed the X-ray detector by using manufacturing and design engineers building detectors, which helps in betterment in cargo scanning.

Report Scope

Report Metric

Details

Market Value in 2020

USD 4,030.3 Million

Market Growth Rate (from 2021 to 2028)

7.4%

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2021 – 2028

Market Segments

Types, Applications

Region Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)

Key Companies Profiled

MITSUBISHI HEAVY INDUSTRIES, LTD, Varian Medical Systems, Inc, Elekta AB, ACCURAY INCORPORATED, General Electric, Altair Technologies, Inc., Siemens Healthcare GmbH, Toshiba Corporation, Varex Imaging Corporation, Shiniva, VIEWRAY TECHNOLOGIES, INC.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Demand Side: Healthcare Industry, Semiconductor industries, Research Centers.
  • Regulatory Side: Concerned government authorities, regulatory bodies, and research associations.
  • Associations and Industry Bodies: The European Organization for Nuclear Research (CERN), US Department of Energy, U.S. Environmental Protection Agency.