Acquisition of Provision CARES Proton Therapy Center in Knoxville by Covenant Health
In July 2022, due to the recent acquisition of Provision CARES Proton Therapy Center in Knoxville by Covenant Health, one of the top integrated healthcare delivery systems, the Thompson Cancer Survival Center, the health system's complete oncology service line, now offers a new treatment option. This acquisition would advance the health system's mission to improve local quality of life through better health. Thanks to this investment, the service would still be provided to local cancer patients.
Technology Advancements in Proton Therapy to Drive the Industry
Technological advancement is one of the main market trends for proton therapy fueling market expansion. In contrast to fan-beam scanning of the proton beam and external beam radiation, PBS is an improved method of delivering the proton beam that delivers significantly greater degrees of conformality to the target while further reducing exposure to the surrounding tissues. It significantly reduces or eliminates neutron scatter dose, which is crucial when treating juvenile cancer. These developments are making proton therapy a more accurate and practical type of cancer treatment by allowing for improved treatment planning and allowing doctors to precisely identify the tumors' location, size, and shape. In the upcoming years, market growth is anticipated to be boosted by such technological advancements.
Lack of Skilled Professional to Constrain Market Expansion
The introduction of newly developed technologies for proton treatment along with new methods for performing the procedure in a medical facility. The market for proton therapy has been stopped with a smaller market share due to individuals lack of ability to perform the technique needed. Patients' diminished treatment confidence may make it difficult for the market for proton therapy to expand.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the proton therapy market plan acquisitions to improve their brand recognition globally. For instance, in January 2019, Oncora medical and Varian Medical System, Inc. worked together. Increase market rate through growing corporate cooperation for market expansion. Improved software advances will improve the newly created proton therapy's accuracy and precision in treating cancer disorders.
List of Key Players Profiled in the Report
- IBA Worldwide
- Varian medical systems, Inc
- HItachi, Ltd
- Mevion medical systems
- Sumitomo Heavy Industries, Ltd
- Optivus Proton Therapy
- Advanced Oncotherapy plc
- ProTom International
- Mitsubishi Corporation
- ProNova Solutions LLC
- Sun Nuclear Corporation
- Provision Healthcare
- Koninklijke Philips N.V
- Elekta AB
- GE Healthcare
- Best Cyclotron Systems
- Ray Search Laboratories
- The market in North America is expected to gain a huge portion of the global Proton therapy market share in the coming years as a result of the rising cancer prevalence.
- Owing of rising diagnosis rates, the U.S. is driving the expansion of the North American area.
- In the Asia Pacific, the growth in this region is primarily driven by increased awareness among the public and an ageing population.
|Market Size in 2022
|USD 468.2 Million
|Market Forecast in 2030
|USD 985.2 Million
|Compound Annual Growth Rate
|Revenue (USD Million) and Volume (Kilo Tons)
|By Indication, By Product, By Type, By Set-Up System, By Application Type, By End-User and By Geography
|By Set-Up System
|By Application Type
|By End Users