Particle Therapy Market Outlook 2031
The particle therapy market size was valued at USD 731.16 million in 2022 and is projected to reach USD 1.46 Billion by 2031, expanding at a CAGR of around 8% during the forecast period, 2023 – 2031. The growth of the market is attributed to the rising cancer prevalence and low risk of treatment-induced diseases.
Radiotherapy that uses particles is known as particle treatment. Its beam frequency can be changed dependent on the thickness of the treatment spot, allowing the cancer patient to get a targeted dose of radiation. Particle therapy is a type of external beam radiation therapy used in cancer that is one of the most advanced in the world.
Compared to traditional photon therapy, this method saves healthy radiation tissue. These particles have better physical intrinsic qualities, lowering the intake dose to about half of what a clinically appropriate target would be.
The COVID-19 pandemic had a negative impact on the medical device sector, especially particle treatment equipment. The particle therapy market is projected to be influenced by the temporary delay of several elective procedures as governments and organizations try to ensure that COVID-19 patients have access to resources.
Several countries have issued recommendations on elective procedures in order to relieve pressure on the healthcare system. Despite the availability of particle therapy emergency services in nearly all centers, the number of emergency patients attending centers for treatment had decreased. Supply chains have been disrupted by closed manufacturing facilities as a result of lockdowns, and reduced clinical trial recruitment has hampered the overall growth of the particle theory market.
Particle Therapy Market Trends, Drivers, Restraints, and Opportunities
- Rising cases of several types of cancers is one of the primary factors driving the global particle treatment market.
- Technological advancement in particle theory has helped manufacturers to produce more effective and regulated particle therapy systems, which is projected to fuel the market during the forecast period.
- Compared to traditional photon therapy, particle therapy, particularly proton therapy, has a number of advantages such as more precisely targets tumors and cancer cells, this is expected to boost the market.
- Particle theory decreases the danger of injury to healthy tissues and organs in the surrounding area, which is estimated to propel the market during the projected period.
- High cost of particle therapy treatment for cancer is a major factor impeding the market growth.
- Operating, staffing, maintenance, and construction expenditures for particle treatment facilities are high, which is anticipated to hamper the market growth.
- Absence of clear sight of tumors and their distinction from normal healthy tissue act as one of the key challenges that can restrict the market growth in the coming years.
- Increasing healthcare expenditure and rising economic development in emerging nations is expected to create lucrative opportunities for the market players.
Scope of The Particle Therapy Market Report
The report on the global particle therapy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Particle Therapy Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023 – 2031
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Segmentation
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Types (Heavy Ion Therapy and Proton Therapy), Cancer Types (Head & Neck Cancer, Breast Cancer, Lung Cancer, Prostate Cancer, Pediatric Cancer, Brain & Spinal Cord Tumors, and Others), Products (Cyclotron and Synchrotron), and Applications (Ambulatory Surgery Centers, Clinics, Hospitals, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Sumitomo Heavy Industries, Ltd.; Mevion Medical Systems; Hitachi, Ltd; Varian Medical Systems, Inc.; IBA Worldwide; Provision Healthcare; ProTom International, Inc.; Optivus Proton Therapy, Inc.; and Danfysik A/S.
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Particle Therapy Market Segment Insights
The proton therapy segment accounted for a major market share in 2021
Based on types, the market is bifurcated into heavy ion therapy and proton therapy. The proton therapy segment accounted for a major market share in 2021. Growth of the segment is attributed to educed side effects, shorter treatment time, high degree of precision, and high dose of radiation as compare to photon theory.
The brain & spinal cord tumors segment held a major market share in 2021
On the basis of cancer types, the market is segregated into head & neck cancer, breast cancer, lung cancer, prostate cancer, pediatric cancer, brain & spinal cord tumors, and others. The brain & spinal cord tumors segment held a major market share in 2021 and is projected to expand at a high CAGR during the forecast period.
When treating brain and other central nervous system tumors, it is crucial to keep radiation doses to a minimum. This includes the brain stem, spinal cord, and healthy brain tissue, all of which govern critical body systems.
The cyclotron segment is estimated to grow at a rapid pace during the forecast period
In terms of products, the market is bifurcated into cyclotron and synchrotron. The cyclotron segment is estimated to grow at a rapid pace during the forecast period. Proton therapy, which uses a focused beam of protons directed to a tumor site to treat various cancers, relies heavily on the usage of cyclotrons.
Proton beam therapy generates and accelerates protons to rate of speed of up to 60% the speed of light and energy of up to 250 million volt using specialized equipment, the most common of which are the cyclotrons.
The hospitals segment held a key market share in 2021
Based on applications, the market is segregated into ambulatory surgery centers, clinics, hospitals, and others. The hospitals segment held a key market share in 2021. The hospital segment is estimated to increase at a CAGR of around 8.9% during the forecast period. Proton therapy is accessible in a number of hospitals, many of which are established and sponsored by commercial companies.
Asia Pacific dominated the market in 2021
On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific dominated the market in 2021 and is projected to expand at a substantial rate during the forecast period. Asia Pacific is likely to offer considerable potential prospects for participants in the particle therapy market, due to rising healthcare expenditure and increasing measures to promote the use of innovative particle therapy technologies in the region.
Segments
The global particle therapy market has been segmented on the basis of
Types
- Heavy Ion Therapy
- Proton Therapy
Cancer Types
- Head & Neck Cancer
- Breast Cancer
- Lung Cancer
- Prostate Cancer
- Pediatric Cancer
- Brain & Spinal Cord Tumors
- Others
Products
Applications
- Ambulatory Surgery Centers
- Clinics
- Hospitals
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Sumitomo Heavy Industries, Ltd.
- Hitachi, Ltd
- Mevion Medical Systems
- Varian Medical Systems, Inc.
- IBA Worldwide
- Provision Healthcare
- ProTom International, Inc.
- Optivus Proton Therapy, Inc.
- Danfysik A/S
Competitive Landscape
Key players competing in the particle therapy market include Sumitomo Heavy Industries, Ltd.; Mevion Medical Systems; Hitachi, Ltd; Varian Medical Systems, Inc.; IBA Worldwide; Provision Healthcare; ProTom International, Inc.; Optivus Proton Therapy, Inc.; and Danfysik A/S.
Some of these players are using several market strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares, generate revenue, and raise their production line of the business in the coming years. For instance,
- In January 2019, Oncora Medica and Varian Medical Systems, Inc. have formed a collaboration. This financial collaboration aimed to hasten the development of software tools that would allow radiation oncologists to practice precision medicine.
- In April 2021, Tractebel has partnered with IBA Worldwide. This collaboration is estimated to help IBA's customers with proton theory construction and design projects.