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.
According
to the new market research report by MarketsandMarkets, the global particle
therapy market is projected to reach USD 1,004 million by 2027 from USD 677
million in 2022, growing at a CAGR of 8.2% from 2022 to 2027
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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.
What
Drives the Market?
1.
Advantages Offered By Particle Therapy Over Photon Therapy
2. Growing
Global Prevalence of Cancer
4. Growing
Adoption of Particle Therapy in Clinical Trials
5.
Increasing Number of Particle Therapy Centers Worldwide
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.
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.
The
introduction of small footprint single-room particle therapy centers is further
promoting the adoption of proton therapy for the treatment of cancer in
small-scale hospitals. Factors driving the growth of the treatment applications
segment include the growing number of cancer patients globally, increasing
government initiatives (aimed at equipping or upgrading hospitals with newer
and advanced Radiotherapy systems), and the increasing availability of funding
for the adoption of advanced cancer treatment technologies.
The
geographical regions mapped in the report are:
1. North
America
2. Europe
3.
Asia-Pacific (APAC)
4. Rest of
the World
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.
Some key
players mentioned in the research report are:
Key players
in this particle therapy market include 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).
Recent
Developments :
·
In
May 2020, BioIVT (US) introduced high-purity Kupffer cells to its portfolio of
human primary hepatic cells to support liver disease drug discovery and
development.
·
In
January 2020, Charles River Laboratories acquired HemaCare Corporation. This
acquisition will aid in expanding Charles River’s scientific capabilities in
the high-growth cell therapy sector.
·
In
September 2018, Sekisui XenoTech, LLC. (US) added monkey and rodent hepatocytes
to its patented CryostaX product line.
Key
questions addressed by the report :
·
What
are the growth opportunities related to the adoption of heavy ion therapy
across major regions in the future?
·
Emerging
countries have immense opportunities for the growth and adoption of particle
therapy. Will this scenario continue in the next five years?
·
Where
will all the advancements in products offered by various companies take the
industry in the mid- to long-term?
·
What
are the various cancer types wherein particle therapy finds a high adoption
rate?
·
What
are the new trends and advancements in the particle therapy market?
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