Global Particle Therapy Market is expected to grow at a CAGR of 11.37% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Global Particle Therapy Market by Type (Heavy Ion, Proton Therapy), Products, Services, System, Cancer Type, Application, Region and Global Forecast 2018-2025.
As per the report, the global particle therapy market is expected to grow from USD 879.07 Million in 2017 to USD 2,105.41 Million by 2025 at a CAGR of 11.37% during the forecast period from 2018-2025. Asia Pacific is expected to dominate the market during the forecast period. Increasing per capita income, developing healthcare infrastructure, and supportive government activities in developing countries are bolstering the growth in the region.
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Key players operating in the market include Varian Medical Systems, Inc., on Beam Applications SA, Provision Healthcare, Hitachi, Ltd., Mevion Medical Systems, Inc., Optivus Proton Therapy, Inc., Sumitomo Heavy Industries, Ltd., Advanced Oncotherapy plc, Danfysik A/S, ProTom International, Inc. and others. Manufacturers are focusing on collaborations for expansion of their product portfolio and conducting clinical trials to increase their market share. For instance, in 2016, Provision Asia Limited and Shenzhen Hairong International Medical Development Co., Ltd. entered into a joint venture to become an exclusive distributor of the ProNova SC360 Proton Therapy System. Moreover, in 2017, Royal Philips and Proton Partners International collaborated with IBA (Belgium) to build the first compact proton therapy system in the Middle East.
The type segment is classified into proton therapy and heavy ion therapy. The proton therapy segment is dominating the market and held largest market share of 56.90% in 2017. The growth of the segment can be attributed to high degree of precision, reduced side-effects and less treatment time as compared to conventional photon therapies using X-rays. Product and services segment is divided products, cyclotrons, synchrotrons, synchrocyclotrons and services. Synchrotrons are dominating the segment and held the largest market share of 37.20% in 2017. The growth of the segment is due to increasing number of research activities and in the development of synchrotron facilities. System segment is classified into single-room and multi-room systems. The cancer type segment is divided into pediatric cancer, lung cancer, prostate cancer, head and neck cancer and others. Lung cancer is dominating the segment due to healthcare professional inclination towards particle therapy for lung cancer treatment. Application segment includes treatment applications and research applications.
Increasing demand for better minimally invasive therapies for cancer treatment and increasing government funding to set up these equipment in hospitals in developing countries are positively impacting the market. In addition, rising awareness regarding particle therapy and increasing investments by major players are expected to strengthen the market. High cost of the treatment and lack of skilled professionals may restrict the growth of the market. However, increasing number of medical professionals and patients opting for particle therapy are expected to drive the market.
About the report:
The global Particle Therapy market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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- CDN Newswire