MarketsandMarkets expects particle therapy market is projected to reach USD 1,004 million by 2027 from USD 677 million in 2022, growing at a CAGR of 8.2% from 2022 to 2027. Market growth is driven by factors such as the various advantages offered by the growing global prevalence of cancer, particle therapy advantages over photon therapy, increasing acceptance of particle therapy in clinical trials, and the increasing number of particle therapy centers worldwide.
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In this report, the particle therapy market is segmented on the basis of type, product and services, cancer type, application, cancer type, and region.
“Treatment Application accounted for the largest share in the particle therpy market by application type”
Based on applications, the particle therapy market has been segmented into treatment and research applications. the treatment applications segment is projected to account for the dominant share of 94.4% of the particle therapy market. Increasing government initiatives aimed at equipping or upgrading hospitals with newer and advanced radiotherapy systems.
“Proton Therapy accounted for the largest share in the particle therpy market by type”
On the basis of type, the particle therapy market is segmented into proton therapy and heavy ion therapy. The proton therapy segment is expected to account for the largest share (85.7%) of the market. Factors such as the high dose of radiation, shorter treatment time, a high degree of precision, and lowered side effects as compared to conventional photon therapies using traditional X-rays.
“Based on product, cyclotrons accounted for the largest share in the particle therpy market”
Based on product, the particle therapy products market is further segmented into cyclotrons, synchrotrons, and synchrocyclotrons. the cyclotrons segment is expected to account for a share of 71.4% of the particle therapy market; this segment is projected to grow at a CAGR of 6.7% during the forecast period. Advantages offered by cyclotrons over other accelerators and the development of technologically advanced systems are the major factors pushing the development of this market segment.
“Asia Pacific segment accounted for the largest share in the particle therapy market by Region”
The Asia Pacific market is expected to account for the largest market share and is also projected to witness the highest growth rate during the forecast period. The Asia Pacific region is expected to offer significant growth opportunities for players operating in the particle therapy market owing to the increasing healthcare expenditure and growing initiatives to promote the use of advanced particle therapy technologies in the Asia Pacific countries.
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Key Market Players :
Prominent players in the particle therapy market include IBA Worldwide (EU), Hitachi, Ltd. (Japan), Varian Medical Systems, Inc. (US), Provision Healthcare, LLC (US), Optivus Proton Therapy, Inc. (US), and Protom International, Inc. (US).
A breakdown of the primary participants (supply-side) for the particle therapy market referred to for this report is provided below:
- By Company Type: Tier 1–5%, Tier 2–15%, and Tier 3–80%
- By Designation: C-level–45%, Director Level–25%, and Others–30%
- By Region: North America–36%, Europe–26%, Asia Pacific–21%, Latin America- 10%, and Middle East and Africa– 7%
Report Highlights
- Refinements in the segments of the global particle therapy market:
- The current edition of the report consists of an updated market overview that includes average selling price trends, technology analysis, patent analysis, trends/disruptions impacting customers’ businesses, ecosystem/market map, key conferences & events in 2022-2023, key stakeholders & buying criteria and value chain analysis.
- The competitive landscape chapter has been updated with the overview of strategies adopted by players, company evaluation quadrant, and competitive benchmarking.
- Latin America and Middle East & Africa have been added as separate segments in the geographical analysis chapter. The COVID-19 impact on the particle therapy market for each region has also been covered.
- Coverage of new market players in the particle therapy market:
- The company profile includes a glimpse of the key players in the market with respect to business overviews, financials, product offerings, and recent developments. The new edition of the report includes profiles for Danfysik A/S (Denmark), P-CURE (Israel), and PTW Freiburg GmbH (Germany).
- Updated financial information/product portfolios of players:
- The new edition of the report provides updated financial information in the context of the particle therapy market until 2021 for each listed company in a graphical representation in a single diagram (instead of multiple tables). This will easily help analyze the present status of profiled companies in terms of their financial strength, profitability, key revenue-generating region/country, business segment focus in terms of the highest revenue-generating segment, and investment in R&D activities.
- Updated market developments of profiled players:
- Recent developments are important for understanding the market trend and growth strategies adopted by players in the global particle therapy market. The current edition of this report provides updated developments of profiled players from January 2019 to April 2022, indicating a continuation of the previous version. Product launches, expansions, acquisitions, agreements, partnerships, and collaborations have been the principal growth strategies adopted by market players within this period.
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