The study involved four major activities to estimate the current market size for particle therapy. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size.
What the Market Looks Like?
The global particle therapy market is projected to reach USD 1,349 million by 2023 from USD 865 million in 2018, at a CAGR of 9.3% . The Asia Pacific is one of the major revenue generating regions in the particle therapy market.
The particle therapy market comprises several stakeholders such as particle therapy product manufacturers, suppliers and distributors, healthcare service providers, and research institutes. The demand side of this market is characterized by the increasing awareness about minimally invasive cancer treatment options and the global rise in the prevalence of cancer.
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Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter market breakdown and data triangulation was used to estimate the market size of segments and subsegments.
What Drives the Market?
The growth of the Particle Therapy Market is primarily influenced by the following factors:
- Advantages Offered By Particle Therapy Over Photon Therapy
- Growing Global Prevalence of Cancer
- Growing Adoption of Particle Therapy in Clinical Trials
- Increasing Number of Particle Therapy Centers Worldwide
Growth in the particle therapy market is primarily driven by factors such as the various advantages offered by particle therapy over photon therapy, growing global prevalence of cancer, increasing adoption of particle therapy in clinical trials, and the increasing number of particle therapy centers worldwide.
Synchrotrons are used to accelerate both protons and heavy ions such as carbon and hydrogen. The growth of the synchrotrons segment is attributed to factors such as the increasing number of research activities as well as the increasing investments in the development of synchrotron facilities.
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Asia Pacific is expected to hold a significant share in the particle therapy market during the forecast period
The Asia Pacific is one of the major revenue generating regions in the particle therapy market. China and Japan are the major countries responsible for the high growth of this regional market owing to factors such as the increasing per capita income, improving healthcare infrastructure, and supportive government activities in these emerging countries. Furthermore, the increasing geriatric population, growing incidence of cancer, and rising acceptance of particle therapy procedures and devices are also driving the growth of this regional market.
