About Proton Therapy
Since the last couple of years, proton therapy market is witnessing significant business growth with respect to numerous advantages over conventional radiotherapy techniques and a number of driving forces such as the rising prevalence of cancer, growing healthcare infrastructure across the glove as well as increasing research and developments. Proton therapy which is also known as proton beam therapy (PBT) is the most advanced and precise form of radiation oncology and its primary application is cancer treatment. Furthermore, PBT is a non-invasive & painless treatment which doesn’t hamper the quality of life of patients and allows physicians to deliver full or higher treatment dosages.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Billion) |
CAGR | 13.76% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Players having a strong hold in the market are Philips N.V., Carecapital Group, Varian Medical Systems, Inc., Optivus Proton Therapy, Inc., Hitachi, Ltd.. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Proton Therapy market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Koninklijke Philips N.V. (Netherlands), Carecapital Group (United Kingdom), Varian Medical Systems, Inc. (United States), Optivus Proton Therapy, Inc. (United States), Hitachi, Ltd. (Japan), Mevion Medical Systems (United States), ProTom International, Inc. (United States), Mitsubishi Electric Corporation (Japan), Sumitomo Corporation (Japan) and ProNova Solutions, LLC (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are IBA International (Belgium), Radiology Oncology Systems (United States) and SAH Global LLC (United States).
Segmentation Overview
AMA Research has segmented the market of Global Proton Therapy market by Type (Electron Beam, Proton Beam, Neutron Beam, Carbon Ion Beam, Alpha Particle Beam and Beta Particle Beam), Application (Prostate Cancer, Breast Cancer, Lung Cancer, Pediatric Conditions and Others) and Region.
On the basis of geography, the market of Proton Therapy has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Room Type, the sub-segment i.e. Single Room will boost the Proton Therapy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Solution, the sub-segment i.e. Proton Therapy Equipment will boost the Proton Therapy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Shrinking Size of Proton Systems and Growing Adoption of Pencil Beam Scanning in Proton Therapy
Market Growth Drivers:
Increasing Prevalence of Cancer Patients and Growing Awareness about Enhances Insurance Coverage Regulations
Challenges:
Complex Motion Management Leads to Increased Rigidity and Lack of Proton Therapy Facility Availability across the Globe
Restraints:
Robust Initial Investments for Proton Therapy System Establishment and Proton Therapy requires a Large Linear Accelerator
Opportunities:
Generates Minimal Damage to Surrounding Tissues and Fewer Long Term Risks and Capability of High Radiations due to Precise Delivery of Protons
Market Leaders and their expansionary development strategies
In September 2023, Elekta partnered with the University of Pittsburgh School of Medicine to establish a research and development center focused on next-generation proton therapy technologies. This collaboration aims to advance the field of proton therapy and improve treatment outcomes for patients.
In October 2023, The University of Pittsburgh Medical Center (UPMC) opened its second proton therapy center in Monroeville, Pennsylvania. This facility complements the existing center in Pittsburgh and expands UPMC's reach in the Northeast.
Several primary initiatives are taken by international organizations such as International Atomic Energy Agency (IAEA), World Health Organization WHO, Canadian Partnership for Quality Radiotherapy (CPQR), American Association of Physicists in Medicine (AAPM) and American Society for Radiation Oncology (ASTRO). Mobilization of public and professional opinion in USA has resulted in a congressional hearing and the introduction of the Consistency, Accuracy, Responsibility, and Excellence (CARE) Act in the US Congress.
Key Target Audience
Proton Therapy System Manufacturers, Proton Therapy System Distributors and Suppliers, Refurbished Medical Equipment Sellers, Government Regulatory Bodies, Radiation Oncology Industry Associations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.