The Particle Therapy Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Particle Therapy Global Market Report 2024, The particle therapy market size has grown rapidly in recent years. It will grow from $1.11 billion in 2023 to $1.26 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to clinical research and studies, increased cancer incidence, government support and funding, industry collaboration, improvements in treatment planning.
The particle therapy market size is expected to see rapid growth in the next few years. It will grow to $1.95 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to increasing healthcare expenditure, emerging applications beyond cancer, rise in geriatric population, healthcare infrastructure development, ai and data analytics integration. Major trends in the forecast period include advancements in particle accelerator technology, hypofractionation techniques, proton and carbon ion combination therapy, improved patient comfort, biology-driven treatment protocols.
The growing prevalence of cancer is expected to propel the growth of the particle therapy market going forward. Cancer refers to a complex and diverse group of diseases characterized by the abnormal growth and proliferation of cells in the body. Particle therapy primarily treats cancer with precise and effective radiation, where positively charged particles (protons) are accelerated to high speeds and then focused on the tumor. For instance, in February 2021, according to the reports shared by John Wiley & Sons Inc., a US-based publishing company, globally, an estimated 19.3 million new cancer cases and almost 10.0 million cancer deaths occurred in 2020. Furthermore, in May 2022, according to the Centers for Disease Control and Prevention., a US-based government agency, in the US in 2020, 1.60 million new cancer cases were recorded, and 602,347 people died of cancer. 403 new cancer cases and 144 cancer-related deaths were recorded for every 100,000 people. Therefore, the growing prevalence of cancer is driving the growth of the particle therapy market.
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The particle therapy market covered in this report 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
Advanced particle therapy platforms are a key trend gaining popularity in the particle therapy market. Major companies operating in the particle therapy market are developing innovative particle therapy platforms to sustain their position in the market. For instance, in October 2021, Ion Beam Applications S.A. (IBA), a Belgium-based medical technology company, launched the world’s first online proton therapy platform. This innovative web-based platform provides users access to a wide range of resources, including proton therapy educational materials, discussion forums, and clinical trials. The platform also features a virtual reality (V.R.) tour of a proton therapy center, which allows users to experience what it is such as to receive proton therapy. Additionally, this platform provides users access to a wide range of information about proton therapy. It is a valuable tool for clinicians, researchers, and patients working to improve the lives of people with cancer.
The particle therapy market report table of contents includes:
1. Executive Summary
2. Particle Therapy Market Characteristics
3. Particle Therapy Market Trends And Strategies
4. Particle Therapy Market - Macro Economic Scenario
5. Global Particle Therapy Market Size and Growth
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31. Particle Therapy Market Other Major And Innovative Companies
32. Global Particle Therapy Market Competitive Benchmarking
33. Global Particle Therapy Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Particle Therapy Market
35. Particle Therapy Market Future Outlook and Potential Analysis
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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.
Thereafter market breakdown and data triangulation was used to estimate the market size of segments and subsegments.Major Growth Drivers: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.Expected Revenue Growth:The particle therapy market is projected to grow from an estimated USD 865 million in 2018 to USD 1,349 million by 2023, at a CAGR of 9.3% during the forecast period.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.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=12809137The large share of the proton therapy segment can be attributed to factors such as the high degree of precision, shorter treatment time, and reduced side-effects associated with proton therapy as compared to conventional photon therapies using X-rays.
Other factors such as the increasing research activities in the field of radiation oncology using proton therapy systems, rising number of proton therapy centers, and longer equipment lifespan of proton therapy (30 years or more) in comparison to photon therapy (10 years) are expected to support the growth of this market in the coming years.The introduction of small footprint single-room particle therapy centers is further promoting the adoption of proton therapy for the treatment of cancer in small-scale hospitals.
