Proton Therapy Market 2023 – Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Market Size & Forecast 2030
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Proton Therapy Insights:
Proton therapy is a sort of
radiotherapy used to treat cancer. It uses protons, which are charged
particles, to focus on tumors with high precision and minimal damage to
surrounding healthy tissue. The proton beam is delivered to the tumor site
employing a particle accelerator, and the energy from the beam destroys the
cancer cells. It's an increasingly popular sort of cancer treatment thanks to
its ability to deliver high doses of radiation to tumors while minimizing
exposure to healthy tissue. It's particularly effective in treating tumors in
sensitive areas, like the brain, spine, and prostate.
Proton Therapy Market
The proton therapy market is a growing
segment within the radiotherapy market, driven by advancements in technology
and the increasing prevalence of cancer. The worldwide proton therapy market
size was valued at $1.7 billion in 2022 and is projected to succeed at $3.9
billion by 2030, with a CAGR of 10.8% during the forecast period (2023-2030).
The single-room systems segment accounted for the most important share of the
market in 2022, due to their cost-effectiveness and simple installation.
The prostatic adenocarcinoma segment accounted for the most important share of the market in 2020, thanks to the high prevalence of prostate cancer and the effectiveness of proton therapy in treating this sort of cancer. Hospitals are the first user of the therapy owing the most important market share among end-user industries. North America is the largest marketplace for proton therapy, followed by Europe and Asia-Pacific. The high prevalence of cancer, favorable reimbursement policies, and the presence of established healthcare infrastructure are a number of the key factors driving market growth in these regions.
Proton Therapy Market Growth Drivers:
The growing incidence of cancer
worldwide is a major driver of the proton therapy market because it is
especially effective in treating certain sorts of cancer, like prostate, lung,
and brain cancer. Advances in proton therapy technology have improved treatment
precision and reduced the danger of side effects. This has made proton therapy
a more viable treatment option for a wider range of cancer patients.
As more people become conscious of the
advantages of proton therapy, demand for the treatment is probably going to
extend. Additionally, more healthcare providers are offering proton therapy
services, which are making the treatment more accessible to patients.
Governments and insurance providers are
increasingly recognizing the advantages of proton therapy and are providing
reimbursement for the treatment which helps to form proton therapy cheaper for
patients. The proton therapy market is additionally attracting increasing
investments from both private and public sources resulting in the event of the
latest and more advanced proton therapy systems.
Proton Therapy Market Segmentation:
1. By System: Single-Room System, Multi-Room Systems
2. By Therapy: Single-Field Proton Therapy,
Multi-Field Proton Therapy, Pencil Beam Scanning, Intensity-Modulated Proton
Therapy (IMPT), Spot Scanning Proton Therapy
3. By Product: Equipment, Services
4. By Indication: Prostate Cancer, Brain& CNSCancer, Head
& Neck Cancer, Lung Cancer, Pediatric Cancer, Gastrointestinal Cancer, Breast
Cancer, Others
5. By End User: Hospitals, Proton Therapy Centers,
Research Institutions
6. By Region: North America, Europe, Asia Pacific, Rest
of the World (RoW)
Proton Therapy Market System Segment
Review
Single-room proton therapy systems are
designed to deliver proton therapy from one clinic. These systems are typically
smaller and less expensive than multi-room systems, making them a well-liked
choice for smaller hospitals and clinics. The single-room system holds the most
important market share of around 60.0% and is predicted to grow significantly
at a CAGR of 8.0% (2023-2030), particularly in developing countries. Mevion
Medical Systems, Inc., Hitachi, Ltd., IBA Worldwide, ProTom International,
Inc., and Sumitomo Heavy Industries, Ltd. are some key players offering
single-room proton therapy systems.
Multi-room proton therapy systems are
designed to deliver proton therapy from multiple treatment rooms. These systems
are typically larger and costlier than single-room systems, but they provide
greater flexibility and throughput. Some of the major companies providing these
types of systems include Varian Medical Systems, Inc., ProNova Solutions, LLC,
Ion Beam Applications (IBA) SA, Optivus Proton Therapy, Inc., and Advanced
Oncotherapy PLC.
Proton Therapy Market Therapy Segment
Review
Single-field proton therapy delivers
protons from a single direction to target the cancerous cells. It is the most
common type of proton therapy used with the largest market share and is
effective in treating many types of cancer. This is expected to grow at a CAGR
of 6.5% during (2023-2030) with Hitachi, Ltd. being the leading manufacturer of
single-field proton therapy systems, with several other profound players
including IBA Worldwide, Mevion Medical Systems, Inc., ProTom International,
Inc., and Sumitomo Heavy Industries, Ltd.
Multi-field proton therapy delivers
protons from multiple directions to target cancerous cells allowing for more
precise targeting of the tumor and is particularly effective in treating tumors
that are irregularly shaped or difficult to reach. Pencil beam scanning is a
newer type of proton therapy that uses a narrow beam of protons that is scanned
across the tumor to deliver the radiation dose which allows for more precise
targeting of the tumor while minimizing damage to healthy tissue. The market is
expected to grow at the highest rate, with a projected CAGR of around 12.0%
during the aforementioned period. Varian Medical Systems, Inc. is a leading
provider of multi-field and pencil beam scanning proton therapy systems, with several
other profound players including Mevion Medical Systems, Inc., Hitachi, Ltd.,
Ion Beam Applications (IBA) SA, ProNova Solutions, LLC, Advanced Oncotherapy
PLC, and Sumitomo Heavy Industries, Ltd.
Intensity-modulated proton therapy
(IMPT) uses multiple beams of protons that are modulated to deliver different
radiation doses to different parts of the tumor allowing for a more customized
treatment that can be adjusted as needed during the course of treatment. Spot
scanning proton therapy is a type of proton therapy that uses a series of small
"spots" of protons to deliver the radiation dose to the tumor. Both
IMPT and Spot scanning are expected to grow at a CAGR of 8.0% and 7.5%
respectively from 2023 to 2030.
Proton Therapy Market Product Segment
Review
The equipment segment includes the varied components required for proton therapy, such as cyclotrons, synchrotrons, beam transport systems, treatment planning software, and others. The services segment includes installation, maintenance, and upgrading of proton therapy equipment. It also includes the training of staff and consulting services. As proton therapy is a highly specialized treatment, the services segment is predicted to grow alongside the equipment segment. As of 2022, the equipment segment holds the largest and most important share of the market, with a worldwide market share of around 70%. These two categories are expected to grow at a CAGR of 9.0% and 10.0% respectively from 2023 to 2030.
Proton Therapy Market Regional Synopsis:
The Proton Therapy market in North
America is predicted to dominate the market in terms of revenue and is
predicted to grow at a CAGR of 7.2% during the forecast period (2023-2030). The
market is predicted to be worth $2.3 billion by 2030 against an earlier
estimation of $1.3 billion in 2022 driven by the high adoption rate of advanced
cancer therapies and high healthcare expenditure. Some of the key players in
the North American proton therapy market include Varian Medical Systems,
Hitachi, and Mevion Medical Systems.
Europe is predicted to carry the second-largest
share of the proton therapy market due to factors like the rising incidence of
cancer, increasing investments in cancer research, and growing awareness
regarding the advantages of proton therapy. The market is predicted to grow at
a CAGR of 7.5% during the forecast period (2023-2030) with increasing adoption
of the technology in countries such as Germany, France, and the UK. IBA,
Siemens Healthineers, and ProNova Solutions are some of the key players in the
region.
The Asia Pacific region is predicted to
witness the very best rate of growth during the forecast period, due to the
increasing prevalence of cancer, growing healthcare infrastructure, and rising
income in countries like India, Japan, and China. The market is predicted to
grow at a CAGR of 10.3% with Hitachi, IBA, and Sumitomo Heavy Industries being
the key players in the region especially in countries like China, Japan, India,
and South Korea.
The Rest of the World (RoW) region
includes countries like Brazil, South Africa, and the Middle East, and the
overall market is predicted to grow at a CAGR of 7.0% from 2023 to 2030due to
factors like rising healthcare expenditure, increasing prevalence of cancer,
and growing awareness regarding the advantages of proton therapy. The region
has a significant presence of key global players such as Varian Medical
Systems, IBA, and Mevion Medical Systems.
Proton Therapy Market Key Challenges:
Proton therapy is a costly treatment
option, which limits its accessibility to patients. The value of building and
operating a proton therapy center is additionally high, which makes it
difficult for hospitals and clinics to take a position in this technology
market. Although proton therapy has been used for several decades, there's
still a scarcity of strong clinical evidence to support its use making it
difficult for insurance companies to cover the prices of proton therapy, as
they require evidence of its efficacy and safety.
Proton therapy isn't widely available,
as there are relatively few proton therapies centers worldwide that limit
access to the present treatment option for patients who may benefit from it.
There are several other treatment options available for cancer, including
surgery, chemotherapy, and radiotherapy which are well-established and have a
proven diary of success, making it difficult for proton therapy to compete.
Proton therapy requires highly
specialized technology, including particle accelerators and sophisticated
treatment planning software. These technologies are expensive and need highly
skilled personnel to work, which may be a challenge for a few hospitals and
clinics.
Proton Therapy Market Key Global
Players:
The competitive landscape of the Proton
Therapy market is shaped by several factors, including:
·
The Proton
Therapy market is subject to varied regulations and standards associated with
radiotherapy and corporations which will suit regulatory requirements and meet
industry standards are more likely to realize consumer trust and compete more
effectively.
·
Companies
that have the power to expand market reach and establish a robust presence in
new regions mark an important factor to realize market share and compete more
effectively. Offering cheaper systems without sacrificing performance or
quality is probably going to assist gain market share.
·
Companies are
forming strategic alliances to leverage each other's strengths and expertise to
develop more comprehensive and integrated solutions. These partnerships also
help companies to expand their market reach and compete more effectively.
Numerous players are vying for market
share and investing in new technologies and product development to stay ahead
of the curve in the market. Some of the key global players in the Proton
Therapy market include:
·
Advanced Oncotherapy
PLC
·
Hitachi, Ltd.
·
Ion Beam
Applications (IBA) SA
·
Mevion
Medical Systems, Inc.
·
Optivus
Proton Therapy, Inc.
·
ProNova
Solutions, LLC.
·
ProTom
International, Inc.
·
Provision
Healthcare
·
Sumitomo
Heavy Industries, Ltd.
·
Varian
Medical Systems, Inc.
These companies are investing in research and development activities to improve their product offerings and gain a competitive advantage in the market. They are also engaged in strategic partnerships, collaborations, and mergers and acquisitions to expand their market share and global presence.
The report on
the Proton therapy market covers the following aspects:
·
Market
Overview: A general overview of the global Proton therapy market, including its
current size and growth projections for the future.
·
Market Segmentation:
A breakdown of the market by system, therapy, product, indication, end-user,
and geographic region.
·
Market
Dynamics: An analysis of the key drivers, challenges, and trends affecting the
growth of the Proton therapy market.
·
Competitive
Landscape: A comprehensive analysis of the leading players in the Proton
therapy market, including their market share, product offerings, and key
strategies.
·
Regional
Analysis: A detailed analysis of the Proton therapy market by geographic
region, including market size, growth projections, and key trends for each
region.
·
Company
Profiles: In-depth profiles of key players in the Proton therapy market,
including their business overview, product offerings, financial performance,
and recent developments.
·
Market
Forecast: Projections for the future growth of the Proton therapy market,
including market size, growth rate, and key trends for the next five to ten
years.
Attributes |
Details |
Base Year |
2022 |
Trend Period |
2018 – 2032 |
Forecast Period |
2023 – 2030 |
Pages |
215 |
System Segment |
Single-Room System, Multi-Room
Systems |
Therapy Segment |
Single-Field Proton Therapy,
Multi-Field Proton Therapy, Pencil Beam Scanning, Intensity-Modulated Proton
Therapy (IMPT), Spot Scanning Proton Therapy |
Product Segment |
Equipment, Services |
Indication Segment |
Prostate Cancer, Brain Cancer, Head
& Neck Cancer, Lung Cancer |
End-user Segment |
Hospitals, Proton Therapy Centers,
Research Institutions |
Company Profiles |
Hitachi, Ltd., Ion Beam Applications
(IBA), Mevion Medical Systems, Optivus Proton Therapy, Inc., ProNova
Solutions, LLC., ProTom International, Inc., Provision Healthcare, and Others |
Edition |
4th edition |
Publication |
April 2023 |