Particle Therapy Market by Type (Proton Therapy, Heavy Ion), Products (Cyclotron, Synchrotron, Synchrocyclotron), Services, System (Single-room, Multi-room), Cancer Type (Pediatric, Prostate), Application (Treatment, Research) - Global Forecast to 2028
Product, system, type, application, cancer-type and region
Regions covered
North America, Europe, Asia Pacific, Latin America and Middle East & Africa
The global particle therapy market is projected to reach USD 1.1 billion by 2028 from USD 0.7 billion in 2023, growing at a CAGR of 8.2% during the forecast period. The projected surge in market growth for the Particle therapy market is seen due to an increase in cancers, advancements in technologies, and increased awareness among individuals regarding cancer, Increased funding for cancer research.
"The Paediatric application segment to register highest CAGR over the forecast period of 2023-2028."
Based on the cancer type, the Particle therapy market is segmented into pediatric cancer, breast cancer, lung cancer, prostate cancer, head and neck, and other cancers. Pediatric cancer has witnessed the highest growth rate In 2022. The increase in Paediatric cancers can be seen due to the following reasons genetic predisposition, developmental factors in infants, immature immune system, environmental exposures, maternal factors, and cellular vulnerability among others.
"Asia Pacific to register significant growth rate in the market during the forecast period."
For the forecasting period 2023-2028, the APAC region is expected to register a significant growth rate in the market during the forecast period. Asia Pacific comprises India, China, Japan, Australia, South Korea, and RoAPAC. The Asia-Pacific (APAC) region has witnessed a significant increase in the market growth rate for the particle therapy market. There are several drivers that contributed to this growth:
The maturing demographic profile observed in APAC countries accentuates the imperative for efficacious cancer treatment modalities characterized by minimized treatment-related adverse effects. This resonance with the precision-driven attributes of the Particle therapy market substantiates its pivotal role in enhancing the market landscape.
The incorporation of multilingual patient care offerings within APAC hospitals, combined with the accessibility to advanced treatments like the Particle therapy market, confers a unique allure to the region, particularly among a diverse patient spectrum. This fusion of linguistic inclusiveness and state-of-the-art medical interventions significantly enhances the region's desirability as a favored healthcare destination, thereby fortifying its competitive position within the healthcare market landscape and concomitantly propelling the prominence of particle therapy market.
A breakdown of the primary participants referred to for this report is provided below:
By Company Type: Tier 1-40%, Tier 2-30%, and Tier 3- 30%
By Designation: C-level-27%, Director-level-18%, and Others-55%
By Region: North America-50%, Europe-20%, Asia Pacific-15%, Latin America-10%, and the Middle East & Africa-5%
Prominent players in particle therapy market are Varian Medical Systems, Inc.(US), IBA Worldwide(EU) and Hitachi (Japan) among others.
Research Coverage
The report studies the Particle therapy market based on type, system, product, application, cancer type and region.
The report analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth.
The report evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.
The report studies micro markets with respect to their growth trends, prospects, and contributions to the global Particle therapy market.
The report forecasts the revenue of market segments with respect to five major regions.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants/smaller firms in this market with investment evaluation viability within the Particle therapy market through a thorough analysis of comprehensive data, thereby facilitating robust risk assessment and enabling well-informed investment determinations. Benefit from meticulous market segmentation encompassing application, end-user, and regional dimensions, affording tailored insights for precise segment targeting. The report also provides an all-encompassing evaluation of encapsulating pivotal trends, growth catalysts, challenges, and prospects, thereby empowering strategic decision-making with astute discernment.
The report provides insights on the following pointers:
Analysis of key drivers (increasing prevalence of cancer patient population, Increasing government initiatives for cancer management, advancements in non-invasive treatments through radiation therapy), restraints (Dearth of skilled radiologist/oncologist, high cost of particle therapy, Complexity of imaging technology for treatments), opportunities (Expansion of key players in emerging countries, Rising healthcare expenditure across developing countries), and challenges (Availability of alternative technology) influencing the growth of the Particle therapy market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the particle therapy market.
Market Development: Comprehensive information about lucrative markets - the report analyses the Particle therapy market across varied regions.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Particle therapy market
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Varian Medical Systems, Inc.(US), IBA Worldwide(EU) and Hitachi (Japan) among others.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 INCLUSIONS & EXCLUSIONS
1.4 MARKET SCOPE
1.4.1 MARKETS COVERED
1.4.2 REGIONS COVERED
1.4.3 YEARS CONSIDERED
1.4.4 CURRENCY CONSIDERED
TABLE 1 EXCHANGE RATES UTILIZED FOR CONVERSION TO USD
1.5 STAKEHOLDERS
1.6 SUMMARY OF CHANGES
1.6.1 RECESSION IMPACT: PARTICLE THERAPY MARKET
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 1 RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key primary sources
2.1.2.2 Key data from primary sources
2.1.2.3 Breakdown of primaries
FIGURE 2 BREAKDOWN OF PRIMARY INTERVIEWS (SUPPLY-SIDE): BY COMPANY TYPE, DESIGNATION, AND REGION
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS (DEMAND-SIDE): BY END USER, DESIGNATION, AND REGION
5.5.1 PATENT PUBLICATION TRENDS FOR PARTICLE THERAPY MARKET
FIGURE 25 TOTAL PATENTS GRANTED FROM 2012-2022
FIGURE 26 TOP PATENT APPLICANTS IN PARTICLE THERAPY
FIGURE 27 TOP PATENT OWNERS IN PARTICLE THERAPY
5.6 VALUE CHAIN ANALYSIS
FIGURE 28 PARTICLE THERAPY MARKET: VALUE CHAIN ANALYSIS
5.7 TECHNOLOGY ANALYSIS
5.8 KEY CONFERENCES & EVENTS IN 2023-2024
5.9 REGULATORY LANDSCAPE
TABLE 2 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 3 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 4 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 5 REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 6 REGULATORY STANDARDS/APPROVALS REQUIRED FOR PARTICLE THERAPY PRODUCTS BY COUNTRY/REGION
5.10 REIMBURSEMENT ANALYSIS
TABLE 7 MEDICAL REIMBURSEMENT CODES FOR PARTICLE THERAPY PROCEDURES IN US, 2022
5.11 TRADE ANALYSIS
TABLE 8 INSTALLED BASE OF RADIOTHERAPY DEVICES
5.12 PORTER'S FIVE FORCES ANALYSIS
TABLE 9 PARTICLE THERAPY MARKET: PORTER'S FIVE FORCES ANALYSIS
5.12.1 THREAT OF NEW ENTRANTS
5.12.2 THREAT OF SUBSTITUTES
5.12.3 BARGAINING POWER OF SUPPLIERS
5.12.4 BARGAINING POWER OF BUYERS
5.12.5 DEGREE OF COMPETITION
5.13 KEY STAKEHOLDERS & BUYING CRITERIA
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 29 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS
TABLE 10 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS (%)
5.13.2 BUYING CRITERIA
FIGURE 30 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS
TABLE 11 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS
5.14 CASE STUDY ANALYSIS
TABLE 12 CASE STUDY: ENHANCING PATIENT SAFETY-RT'S ROLE IN MINIMIZING RADIATION RISK IN AN ELDERLY PATIENT (90-YEAR-OLD FEMALE WITH A MEDICALLY INOPERABLE EARLY-STAGE NSCLC)
5.15 TRENDS/DISRUPTIONS IMPACTING CUSTOMER'S BUSINESS
FIGURE 31 EMERGING TRENDS AND OPPORTUNITIES AFFECTING FUTURE REVENUE MIX
TABLE 151 PARTICLE THERAPY MARKET: OTHER DEVELOPMENTS (JANUARY 2020-AUGUST 2023)
13 COMPANY PROFILES
13.1 KEY PLAYERS
(Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments)**
13.1.1 IBA WORLDWIDE
TABLE 152 IBA WORLDWIDE: BUSINESS OVERVIEW
FIGURE 39 IBA WORLDWIDE: COMPANY SNAPSHOT (2022)
13.1.2 VARIAN MEDICAL SYSTEMS, INC.
TABLE 153 VARIAN MEDICAL SYSTEMS, INC.: BUSINESS OVERVIEW
FIGURE 40 VARIAN MEDICAL SYSTEMS, INC.: COMPANY SNAPSHOT (2022)
13.1.3 HITACHI, LTD.
TABLE 154 HITACHI, LTD.: BUSINESS OVERVIEW
FIGURE 41 HITACHI, LTD.: COMPANY SNAPSHOT (2021)
13.1.4 MEVION MEDICAL SYSTEMS
TABLE 155 MEVION MEDICAL SYSTEMS: BUSINESS OVERVIEW
13.1.5 SUMITOMO HEAVY INDUSTRIES LTD.
TABLE 156 SUMITOMO HEAVY INDUSTRIES LTD.: BUSINESS OVERVIEW
FIGURE 42 SUMITOMO HEAVY INDUSTRIES LTD.: COMPANY SNAPSHOT (2021)
13.1.6 PROVISION HEALTHCARE, LLC
TABLE 157 PROVISION HEALTHCARE, LLC: BUSINESS OVERVIEW
13.1.7 TOSHIBA MEDICAL SYSTEMS CORPORATION
TABLE 158 TOSHIBA MEDICAL SYSTEMS CORPORATION: BUSINESS OVERVIEW
FIGURE 43 TOSHIBA MEDICAL SYSTEMS CORPORATION: COMPANY SNAPSHOT (2022)
13.1.8 OPTIVUS PROTON THERAPY, INC.
TABLE 159 OPTIVUS PROTON THERAPY, INC.: BUSINESS OVERVIEW
13.1.9 PROTOM INTERNATIONAL, INC.
TABLE 160 PROTOM INTERNATIONAL, INC.: BUSINESS OVERVIEW
13.1.10 ADVANCED ONCOTHERAPY PLC
TABLE 161 ADVANCED ONCOTHERAPY PLC: BUSINESS OVERVIEW
13.2 OTHER PLAYERS
13.2.1 DANFYSIK A/S
TABLE 162 DANFYSIK A/S: BUSINESS OVERVIEW
13.2.2 P-CURE, LTD.
TABLE 163 P-CURE, LTD.: BUSINESS OVERVIEW
13.2.3 PTW FREIBURG GMBH
TABLE 164 PTW FREIBURG GMBH: BUSINESS OVERVIEW
*Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments might not be captured in case of unlisted companies.