Chicago, Nov. 17, 2023 (GLOBE NEWSWIRE) — Particle Therapy market in terms of revenue was estimated to be worth $0.7 billion in 2023 and is poised to reach $1.1 billion by 2028, growing at a CAGR of 8.2% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The particle therapy market is driven by several factors that contribute to its growth and increasing adoption. These driving factors include non-invasive cancer treatments, the increasing prevalence of cancer patient population, and rising government initiatives for cancer management. However, the complexity and affordability limit the market growth of the particle therapy market.
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Particle Therapy Market Scope:
|Market Revenue in 2023||$0.7 billion|
|Estimated Value by 2028||$1.1 billion|
|Growth Rate||Poised to grow at a CAGR of 8.2%|
|Market Size Available for||2020–2028|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, system, type, application, cancer-type and region|
|Geographies Covered||North America, Europe, Asia Pacific, Latin America and Middle East & Africa|
|Report Highlights||Updated financial information / product portfolio of players|
|Key Market Opportunity||Rising healthcare expenditure across developing countries|
|Key Market Driver||Growing global prevalence of cancer|
“Product segment accounted for the largest share of the global particle therapy market.”
Based on the product & services, the particle therapy market is segmented into products – (Cyclotrons, synchrotrons, synchrocyclotrons) and services. The products segmented accounted for the largest segment in product & service segment. Cyclotrons are commonly used for producing medical isotopes; synchrotrons find applications in a broad range of scientific disciplines, including materials science and biology. The Cyclotrons contributed to the largest share in 2022.
“By type the particle therapy market is segmented into Proton therapy and heavy-ion therapy.”
Categorized by type, the particle therapy market is stratified into two key segments: Proton therapy and Heavy-Ion therapy. Proton therapy contributed to the largest share in 2022, Proton therapy has demonstrated effectiveness in treating a variety of common cancers, including prostate, breast, lung, and pediatric cancers. The ability to treat a broad range of cancers has contributed to its widespread use.
“By System multi-room systems contributed to the largest share in 2022.”
The Proton therapy market is segmented into Multi-room and single-room systems. Multi-room system contributed to the highest share in 2022 as multi-room systems allow for the optimized use of the proton therapy equipment, including the cyclotron or synchrotron that generates the proton beam. By treating multiple patients at the same time, the facility can maximize its resource utilization and provide more timely treatments.
“Treatment application holds the largest share in 2022.”
By Applications the proton therapy is segmented into treatment applications and research applications. Treatment application holds the largest share in 2022. Treatment application includes surgery, chemotherapy, radiation therapy, immune therapy, hormone therapy, and targeted therapy and that’s the reason this segment holds the largest share.
“Pediatric cancer holds for the largest share in the application segment.”
By the application segment, the particle therapy market is divided into -Paediatric, Prostate, Lung, Breast, Head and Neck, and other cancers. The pediatric cancer segment holds the largest share of the particle therapy market. After pediatric cancer prostate cancer holds the second-highest share in 2022.
“North America dominates the particle therapy market in 2022.”
The global particle therapy market is segmented across five prominent regions: North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. In 2022, the North American region emerged as the primary driver of the largest market share and the largest CAGR in the particle therapy market. The North American region is characterized by a notable incidence of various malignancies, encompassing breast, prostate, lung, and breast cancers, among others. In this context, the precision-driven tumor targeting inherent to particle therapy markets synergistically corresponds with the multifaceted cancer landscape prevalent in North America. This alignment distinctly contributes to the expansion and invigoration of the particle therapy market.
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Particle Therapy market major players covered in the report, such as:
- Varian Medical Systems,Inc. (US)
- IBA Worldwide (EU)
- Hitachi (Japan)
- Optivus Proton Therapy, Inc. (US)
- Protom International, Inc. (US)
- Advanced Oncotherapy PLC. (EU)
- Danfysik A/S (Denmark)
- Sumitomo heavy industries ltd.(japan)
- biosig Technologies, Inc.
- Toshiba medical systems corporation (japan)
- Provision healthcare, LLC (us)
- and Among Others
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This report has segmented the global particle therapy market based on Product, system, type, application, cancer type and region.
Particle therapy market, By Type
- Proton therapy
- Heavy-Ion therapy
Particle therapy market, By Product & Services
Particle therapy market, By System
- Multi-room systems
- Single-room systems
Particle Therapy Market, By Application
- Treatment application
- Research application
Particle Therapy Market, By Cancer-type
- Paediatric Cancer
- Lung Cancer
- Breast cancer
- Head and
- Other cancers
Particle Therapy Market, by region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
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- Radiotherapy product manufacturers
- Distributors, suppliers, and commercial service providers
- Healthcare service providers
- Clinical research organizations (CROs)
- Radiotherapy service providers
- Radiotherapy product distributors
- Medical research laboratories
- Cancer care centers
- Cancer research organizations
- Academic medical centers and universities
- Market research and consulting firms
- To define, describe, and forecast the particle therapy market based on product,type, system, application, cancer type and region.
- To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
- To strategically analyze the micro markets with respect to individual growth trends, prospects, and contributions to the total market.
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
- To profile the key market players and comprehensively analyze their market shares and core competencies.
- To forecast the revenue of the market segments with respect to five main regions, namely, North America (US and Canada), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), the Asia Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa.
- To track and analyze competitive developments such as new product launches and approvals; agreements, partnerships, expansions, acquisitions; and collaborations in the particle therapy market.
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