What’s The Growth Forecast For Particle Therapy Market Through 2023-2032?
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According to The Business Research Company’s 2023 Particle Therapy Global Market Report, the global particle therapy market is projected to increase from $0.98 billion in 2022 to $1.11 billion in 2023, with a 13.2% CAGR. By 2027, the market size is anticipated to hit $1.74 billion, growing at an 11.9% CAGR.
What was the major driver in the particle therapy market?
The increasing cancer prevalence is set to drive particle therapy market growth. Cancer, a complex group of diseases characterized by abnormal cell growth, is primarily treated with precise proton radiation. In February 2021, John Wiley & Sons Inc. reported 19.3 million new cancer cases and nearly 10.0 million cancer deaths globally in 2020. In May 2022, the US Centers for Disease Control and Prevention recorded 1.60 million new US cancer cases and 602,347 cancer-related deaths in 2020, at a rate of 403 new cases and 144 deaths per 100,000 people.
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What was the key trend in the particle therapy market?
Advanced particle therapy platforms gain traction in the particle therapy market. Leading particle therapy firms innovate their platforms to maintain market positions. For example, in October 2021, Belgium’s Ion Beam Applications S.A. (IBA) introduced the world’s first online proton therapy platform, offering educational materials, forums, clinical trials, and a virtual reality tour of a proton therapy center. This platform serves clinicians, researchers, and patients improving cancer care.
Which was the largest region in the particle therapy market?
North America was the largest region in the particle therapy market in 2022. Asia-Pacific is expected to be the fastest-growing region in the particle therapy market report during the forecast period. The regions covered in particle therapy report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the particle therapy market prominent players?
Major players in the particle therapy market are Hitachi Ltd., Mitsubishi Electric Corporation, Siemens Healthineers AG, Koninklijke Philips N.V, GE Healthcare, Sumitomo Heavy Industries Ltd., Varian Medical Systems Inc., Elekta AB, Shinva Medical Instrument Co. Ltd., Toshiba Medical Systems Corporation, Brainlab AG, Accuray Incorporated, IBA Worldwide, Mevion Medical Systems Inc., Avante Health Solutions, Provision Healthcare LLC, ViewRay, Panacea Biotec Ltd., PTW Freiburg GmbH., ProNova Solutions LLC, Optivus Proton Therapy Inc., Xstrahl Inc., Protom International Inc., Danfysik AS, SAH Global LLC, Advanced Oncotherapy plc, Particle Therapy Co-Operative Group, and Best Particle Therapy Inc.
Key particle therapy market segments
The global particle therapy market is segmented –
1) By Type: Proton Therapy, Heavy Ion Therapy
2) By System: Single-Room Systems, Multi-Room Systems
3) By Cancer Type: Pediatric Cancer, Prostate Cancer, Lung Cancer, Breast Cancer, Brain And Spinal Cord Cancer, Other Cancer Types
4) By End-User: Hospital, Academic And Research Centers
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The Particle Therapy Global Market Report 2023 provides a comprehensive overview on the particle therapy market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies
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