Proton Therapy Systems Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2026
Proton Therapy Systems Market size is projected to experience significant growth from 2017 to 2024.
Proton therapy systems market size should witness significant growth due to increasing prevalence of cancers including breast, lung, bladder, prostate and others. According to CDC, in 2015, more than 21 million individuals were diagnosed with cancer in the U.S. resulting to second leading cause of death in the country. Rising burden of tumors in various parts of the body fuels the demand for introduction of most precise form of radiation treatment such as proton therapy systems for rapid detection of tumor causing agents boosting the business growth over the forecast timeframe.
Increased adoption of particle therapy owing to the benefits offered over the conventional radiation treatment for cancer will boost the industry growth over the forecast period. Some of the major advantages offered include precise targeting of tumors reducing the risk of adverse side-effects, higher precision of dose delivery to patients causing minimal invasiveness to the healthy tissues and high potential for dose escalation resulting to complete eradication of tumor cells thus improving the quality of life of patients for long-term survival. All the aforementioned benefits stimulate the demand for proton therapy systems over the coming years.
Rising number of proton therapy centers across the globe for improved treatment of patients suffering from life-threatening cancers will further escalate industry growth in the future. Presence of numerous centers has increased awareness levels among the target consumer base augmenting the market growth. For instance, The National Association for Proton Therapy (NAPT) is engaged in spreading educational and public awareness pertaining to the clinical advantages of proton therapy among the target base worldwide further contributing to the industry growth.
Excessive cost associated with developing a proton therapy center and installation of equipment needed to generate proton beams is hampering the market growth. Moreover, higher proof for efficacy coupled with limited reimbursement related to particle therapy are yet another factor restraining the overall market size.
Based on the product, the multi-room systems will witness robust growth owing to its ability to focus on cancer specific requirements along with multiple rooms to treat huge volumes of patients. Furthermore, single-room systems will experience healthy growth owing to reduced cost and space requirements for treatment.
Broad range of applications of proton therapy such as in the treatment of various cancers including lung, head and neck, prostate, pediatric, lymphomas, gastrointestinal and brain cancers will augment industry expansion in the future. Among these, the pediatric cancer indication will witness remunerative growth over the forecast period owing to the efficacy of proton beams to treat injuries caused due to radiations enabling speedy tissue recovery in children.
North America commanded the industry in 2016 pertaining to escalating prevalence rates of cancers in the U.S. Moreover, presence of numerous well-established proton therapy centers, and major industry players developing advanced particle therapy systems to treat these life-threatening disorders will propel market growth.
Asia Pacific will also hold momentous market share and show a lucrative growth rate over the forecast period owing to rising prevalence of cancers coupled with presence of well-established centers in Japan and China. Moreover, development of new proton therapy centers in Australia coupled with increasing awareness among the target population pertaining to the clinical benefits of proton beams for cancer treatment will further stimulate regional growth.
Some of the major industry players include Hitachi, Mevion Medical Systems, Varian Medical Systems, Mitsubishi, Ion Beam Applications, Optivus Proton Therapy, Pronova Solutions and Protom International. Innovative product launch, partnerships, marketing agreements, mergers and collaborations are some of the major growth strategies adopted by the industry players. For instance, in June 2017, IBA and Philips entered a collaboration agreement with a focus to expand their business in emerging countries such as Brazil and India. Moreover, in September 2016, Ion beam applications and Royal Philips introduced novel patient-centric solution such as Ambience experience solution for Proteus PLUS proton therapy systems which enables patients to experience elevated levels of comfort and improve operational effectiveness and workflows.
What Information does this report contain?
Customize this Report
Our Market Research Reports Include:
- Market snapshot
- Market Segmentation
- Value Chain Analysis
- Growth Dynamics
- Potential Market Opportunities
- Regulatory Overview
- Technology Evolution
- Innovation & Sustainability
Benefits of Association
Data Coverage & Quality
GMI reports provide the most comprehensive coverage of any focus industry, ensuring a holistic and deep understanding of the market, along with actionable and granular data. We also take pride in our commitment to quality and strive to ensure that our clients get their moneys worth.
Client Trust & Security
GMI maintains strict code of conduct as a business and is committed to ensure that the privacy and trust of our clients are always maintained. As an organization, we also strive to be fully compliant with privacy laws, PCI and information security guidelines.
Our customers rely on us to produce accurate, reliable and timely information. Service orientation is a key mission for us as an organization; our process is guided by the desire to ensure that our clients are provided the best possible solutions in optimal timeframe. GMI stands by its commitment to service, providing timely assistance in both pre-sales and post-sales support for our clients.