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(Health-NewsWire.Net, May 14, 2020 ) 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.
The global particle therapy market is projected to reach USD 1,349 million by 2023 from USD 865 million in 2018, at a CAGR of 9.3%.
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.
The particle therapy market comprises several stakeholders such as particle therapy product manufacturers, suppliers and distributors, healthcare service providers, and research institutes. The demand side of this market is characterized by the increasing awareness about minimally invasive cancer treatment options and the global rise in the prevalence of cancer.
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End User of Particle Therapy Market:
1. Synchrotrons
2. proton therapy
3. Heavy Ion Therapy
4. Cyclotrons
5. Pediatric Cancer
By product, the synchrotron segment is expected to grow at the highest rate 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.
Regional Growth, Development and Demand Analysis:
The Asia Pacific is one of the major revenue generating regions in the particle therapy market. China and Japan are the major countries responsible for the high growth of this regional market owing to factors such as the increasing per capita income, improving healthcare infrastructure, and supportive government activities in these emerging countries.
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Key Players:
Ion Beam Applications SA (Belgium), Varian Medical Systems, Inc. (US), and Hitachi, Ltd. (Japan) are the major players operating in the particle therapy market. Other players in this market include Provision Healthcare (US), Mevion Medical Systems, Inc. (US), Sumitomo Heavy Industries, Ltd. (Japan), Optivus Proton Therapy, Inc. (US), ProTom International, Inc. (US), Advanced Oncotherapy Plc. (UK), and Danfysik A/S (Denmark).
Hitachi, Ltd. (Japan) is one of the leading players operating in the particle therapy market. Hitachi's proton beam therapy products have been used to treat more than 16,000 patients worldwide, and the company continues to perform joint research with advanced cancer hospitals in the US. Also, the company focuses on agreements with leading research organizations to strengthen its product development capabilities in the field of particle therapy.
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Mr. Aashish Mehra
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