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Proton Therapy Market Growth Accelerated by Emerging Economies

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Mia Yates
Proton Therapy Market Growth Accelerated by Emerging Economies

Proton therapy is a type of external beam radiation therapy that utilizes protons rather than x-rays to treat cancerous tumors. Proton therapy is highly effective for cancers located near critical parts of the body like the brain, head, neck, lungs, etc. as it causes little or no damage to the surrounding healthy tissues. The adoption of proton therapy is increasing rapidly as it offers substantial clinical advantages. The global proton therapy market is estimated to be valued at US$ 2763.02 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The key growth driver for the proton therapy market is the increasing prevalence of cancers globally, especially in emerging economies like India, China and Brazil. According to the WHO, the global cancer burden is estimated to reach 27.5 million new cancer cases and 16.3 million cancer deaths by 2040. A large proportion of this rise is expected to come from emerging economies. This growing cancer patient pool in emerging countries presents lucrative opportunities for proton therapy system manufacturers and service providers looking to expand their presence globally. Moreover, these emerging economies are increasingly prioritizing healthcare infrastructure development which is accelerating the adoption of advanced cancer treatment modalities like proton therapy.

Segment Analysis

The global proton therapy market can be segmented based on product into cyclotrons, synchrotrons, and synchrocyclotrons. Among them, the synchrotron segment dominates the market and is expected to continue its dominance over the forecast period. Synchrotrons are the most commonly used devices for proton therapy as they provide uniform radiation intensity and sufficient dose rates for patient treatments.

Key Takeaways

The Global Proton Therapy Market Size is expected to witness high growth over the forecast period.

Regional analysis shows that North America currently dominates the market. The region is expected to continue its dominance due to the increasing installation of proton therapy centers in the US. Europe is also emerging as a major market and will exhibit significant growth in the coming years due to the growing adoption of proton therapy and the strong presence of key players in countries like Germany and UK. Asia Pacific is poised to grow at the highest CAGR during the projected timeframe led by nations like China, India and Japan.

Key players operating in the proton therapy market are Silicon Labs, Aeotec (formerly Aeon Labs), Fibaro, Qolsys, Zooz, HomeSeer, Leviton, Everspring, Vision Security, Jasco (GE/Jasco). Ion Beam Applications leads the industry being a pioneering supplier of high-tech solutions for cancer treatment and industrial applications. Varian Medical Systems is another major player providing proton therapy systems and software for treatment planning, delivery, and verification.

For More Insights, Read: https://www.newswirestats.com/proton-therapy-market-trends-growth-and-regional-outlook-2024-2030/


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