Market Size of Global Particle Therapy Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 7.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Particle Therapy Market Analysis
The particle therapy market is expected to register a CAGR of 7.6% over the forecast period.
The COVID-19 pandemic has affected the healthcare systems globally and also had a significant impact on particle therapy for cancer patients. Cancer patients are more likely to develop a COVID-19 infection and are also more likely to experience serious and perhaps deadly consequences from the infection. The difficulty for radiation oncology clinics is to safely balance a patient's risk of getting COVID-19 while undergoing radiation treatment against their risk of cancer progression if treatment is postponed. For instance, as per the report titled" Prioritization of Proton Patients in the COVID-19 Pandemic: Recommendations from The New York Proton Center" published in May 2020, the New York Proton Center established an internal algorithm to address the challenges of radiation treatment during the pandemic, that considers treatment-related, tumor-related, and patient-related characteristics. This type of algorithm helped cancer patients to continue proton therapy while keeping the rate of COVID-19 infection low.
The factors that are driving the market growth include advantages offered by particle therapy and the growing global prevalence of cancer. The number of people suffering from various cancers has been found to be a major driving factor for this market. According to the report titled "Current and future burden of breast cancer: Global statistics for 2020 and 2040" pubished in September 2022, there were 2.3 million new cases and 685,000 deaths from breast cancer occurred in 2020 and by 2040, the burden from breast cancer is predicted to increase to over 3 million new cases and 1 million deaths every year because of population growth and ageing alone. Since particle therapies are used to treat cancers, the growing prevalence of the same is expected to be the major driver of the growth of this market.
Therefore, owing to the aforementioned factors, the studied market is expected to grow significantly during the study period. However, infrastructural challenges in healthcare facilities and unfavorable reimbursement policies and limited insurance coverage of particle therapy are expected to hinder the market growth during the study period.
Particle Therapy Industry Segmentation
As per the scope of the report, particle therapy is a cutting-edge area of external beam radiotherapy. It uses beams of energetic neutrons, protons, or other heavier positive ions for cancer treatment. The particle therapy market is segmented by type (proton therapy and heavy ion therapy), system (multi-room systems, and single-room systems), cancer type (pediatric cancer, prostate cancer, lung cancer, breast cancer, brain and spinal cord cancer, and others) and geography (North America, Europe, Asia Pacific, and Rest of World). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Type | |
| Proton Therapy | |
| Heavy Ion Therapy |
| By System | |
| Multi-Room Systems | |
| Single-Room Systems |
| By Cancer Type | |
| Pediatric Cancer | |
| Prostate Cancer | |
| Lung Cancer | |
| Breast Cancer | |
| Brain and Spinal Cord Cancer | |
| Others |
| Geography | ||||||||
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| Rest of World |
Global Particle Therapy Market Size Summary
The particle therapy market is poised for significant growth, driven by the increasing global prevalence of cancer and the advantages offered by particle therapy techniques. The market is expected to expand steadily over the forecast period, despite challenges such as infrastructural issues in healthcare facilities and limited insurance coverage. The COVID-19 pandemic has posed additional challenges, impacting the treatment of cancer patients who are at higher risk of severe outcomes from the virus. However, innovative solutions, such as the algorithm developed by the New York Proton Center, have helped mitigate these risks, allowing patients to continue receiving proton therapy. Proton therapy, known for its precision in treating localized cancers near vital organs, is gaining traction, particularly for brain and lung cancers. The expansion of hospital facilities offering advanced cancer treatments further supports the growth of this segment.
North America currently dominates the global particle therapy market, with the United States leading due to its substantial cancer patient population and favorable reimbursement policies. The region's market growth is bolstered by the replacement of older therapies with newer ones and legislative changes that incentivize improved patient care. The presence of major industry players, such as Danfysik A/S, Hitachi, Ltd., and Mevion Medical Systems, contributes to the competitive landscape. Recent developments, including strategic partnerships and regulatory approvals, are expected to enhance market penetration and accessibility of proton therapy treatments. As a result, the particle therapy market is anticipated to experience lucrative growth, particularly in North America, driven by these favorable conditions and ongoing advancements in treatment technologies.
Global Particle Therapy Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Advantages Offered By Particle Therapy
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1.2.2 Growing Global Burden of Cancer
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1.3 Market Restraints
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1.3.1 Infrastructural Challenges in Healthcare Facilities
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1.3.2 Unfavorable Reimbursement Policies and Limited Insurance Coverage
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - in USD Million)
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2.1 By Type
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2.1.1 Proton Therapy
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2.1.2 Heavy Ion Therapy
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2.2 By System
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2.2.1 Multi-Room Systems
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2.2.2 Single-Room Systems
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2.3 By Cancer Type
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2.3.1 Pediatric Cancer
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2.3.2 Prostate Cancer
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2.3.3 Lung Cancer
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2.3.4 Breast Cancer
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2.3.5 Brain and Spinal Cord Cancer
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2.3.6 Others
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Rest of World
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Global Particle Therapy Market Size FAQs
What is the current Global Particle Therapy Market size?
The Global Particle Therapy Market is projected to register a CAGR of 7.60% during the forecast period (2024-2029)
Who are the key players in Global Particle Therapy Market?
Hitachi, Ltd., IBA, Siemens Healthcare GmbH (Varian Medical Systems, Inc.), Sumitomo Heavy Industries, Ltd. and Mevion Medical Systems. are the major companies operating in the Global Particle Therapy Market.
