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According to the American Cancer Society 2020 Facts & Figures, in 2020 more than 1.8 million new cancer cases are likely to be diagnosed. Such increasing prevalence of the lethal disorder is demanding for advanced treatment therapies. Particle therapy is one of the advanced therapy used against cancer treatment. The external beam radiotherapy uses proton, neutrons for treatment of the tumor. Due to release of the energetic ionizing particles at the target site, it damages the DNA of the cells thus causing death of the tumor cells. Therefore, this radiation therapy is likely to create opportunities during the forecast period eventually increasing its market potential. Moreover, setup of particle therapy systems in the hospitals to deliver advanced treatment therapies to the cancer patients is anticipated to drive the market growth in the near future.
The major factor driving the global particle therapy market is the growing need for development of advanced therapies effective against cancer treatment. Moreover, increasing prevalence of cancer, rising number of particle therapy centre is also likely to contribute to the growth of the global market.
On the flip side, higher cost of the test undertaken coupled with lack of insurance coverage policies for particle therapy is expected to restrain the market growth. Additionally, infrastructural challenges are also likely to hinder the market growth.
Key Market Driver -
Need for advanced therapies in cancer treatment
Key Market Restraint -
Availability of limited insurance coverage for particle therapy
By type, the market is segmented into proton therapy and heavy ion therapy. Based on product, the market is segmented into cyclotrons, synchrotrons, and synchrocyclotrons. Based on cancer type, the particle therapy market is segmented into paediatric cancer, prostate cancer, lung cancer, breast cancer, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The major companies in the global particle therapy market report includes Varian Medical Systems, Inc., Mevion Medical Systems, Inc., Provision Healthcare, LLC, Ion Beam Applications SA, Sumitomo Heavy Industries, Ltd., Optivus Proton Therapy, Inc., ProTom International, Inc., Advanced Oncotherapy plc, and others.
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The global particle therapy market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America followed by Europe dominated the global particle therapy market in 2019, owing to the rise in R&D of the pharmaceutical & biotechnology industries. However, increasing patient pool suffering from cancer and demand for advanced treatment therapies in Asia Pacific is likely to accelerate the growth of the market. This coupled with growing mergers and acquisitions between industry players and improving healthcare infrastructure is likely to promote the adoption of particle therapy in countries like China, India, and other countries. Latin America and Middle East & Africa are projected to register a comparatively lower CAGR by the end of the forecast period.
By Cancer Type
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