The existence of cancer-causing viruses and defective genes increases the prevalence of cancer among people. Consequently, the market for proton therapy is growing due to the rising incidence of cancer. The expansion of the proton therapy market is constrained by the high cost of proton therapy, which results in high-cost treatment. Because of the accelerating research and development in the field, more clinical data demonstrating the advantages of proton therapy treatment are emerging, reflecting the rising awareness. As a result, the market for proton therapy is given a chance to expand thanks to the growing acceptance of proton therapy.
RECESSION IMPACT
The recession will have a significant effect on the market for proton therapy. Due to financial limitations or uncertainty regarding their work or financial condition, people may postpone or avoid non-emergency medical treatments during a recession. As a result, proton therapy clinics may see a decline in business and demand for their services. A recession may also result in less money being invested in new proton therapy facilities as well as less money being allocated for research and development of proton therapy equipment and treatment approaches. This can hinder the market's expansion for proton therapy and reduce the number of people who can receive it as a treatment.
DRIVING FACTORS
Rising Prevalence of Cancer to Drive Market Growth
One of the main factors boosting the growth of the proton therapy market is the rising incidence of cancer. Lung, breast, colorectal, prostate, and stomach cancer were the top five most common malignancies diagnosed in 2020. Around 49% of all diagnosed cancer cases were from these five malignancies. The most diagnosed cases are breast and lung cancer, respectively. Moreover, the risk factors linked to cancer are also increasing. High body mass indexes, poor eating patterns, inactivity, use of tobacco products, and alcohol usage are all linked to increased cancer incidence. As a result, during the projected period, these variables will raise the risk of cancer prevalence, raising the demand for proton therapy.
RESTRAINING FACTORS
High Cost of Proton Beam to Limit Market Growth
One of the reasons impeding the growth of the proton treatment market is the high cost of proton beam therapy and the absence of insurance coverage. Proton therapy clinics can range in price from $600 to $800 per square foot of built-up space, depending on the number of treatment rooms and whether the building is above or below grade. More full-time engineers and physicists are also required at healthcare facilities to ensure adequate upkeep. As a result, building a proton therapy facility involves a substantial upfront expenditure and potentially complicated project financing. Due to a lack of sufficient randomized control trials that compare the cost-effectiveness of proton beam therapy with other kinds of radiation for various purposes, commercial insurance providers do not always cover proton therapy.
SEGMENTATION
By Indication
Based on indication, the proton therapy market is segmented into breast cancer, prostate cancer, CNS cancer, head and neck cancer and others. The CNS cancer category dominated the market in 2022. Proton therapy is becoming increasingly popular due to the rising prevalence of chronic illnesses like cancer, the most common disease among people today. These illnesses are driving up consumer demand for new, cutting-edge technologies in radiation therapy. On the other hand, proton therapy is expected to gain market share as a result of rising demand for treatments due to advancements in technology and the prevalence of breast cancer.
By Product
Based on product, the proton therapy market is segmented into accelerator, beam transport system, bean delivery system, nozzle and image viewers and patient positioning system. The accelerator category dominated the market in 2022 due to the expanding number of cancer patients and the cost-effectiveness of proton therapy; proton therapy has seen a growth in market share and quick customer acceptance. Over the projection period, the government's interest in developing innovative technologies has increased, which has helped fuel the proton treatment market.
By Type
Based on type, the proton therapy market is segmented into rotating proton therapy systems and non-rotating proton therapy systems. The rotating proton therapy category dominated the market in 2022. A form of proton therapy system called a rotating proton therapy system, sometimes called a gantry system, rotates the treatment gantry around the patient to direct the proton beam at the tumor from various angles. Due to the preservation of nearby healthy tissue, the tumor can be targeted more precisely while remaining undetectable. When receiving rotational proton therapy, the patient is placed on a table that rotates into the treatment area. The treatment gantry encircles the patient, which contains the proton beam and other treatment elements.
By Set-Up System
Based on set-up system, the proton therapy market is segmented into multi-room systems and compact/single-room systems. The multi-room systems category dominated the market in 2022. Multiroom equipment costs less because it just requires one system to treat more than two rooms at once. A significant portion of this market can also be attributed to the declining prices of multiroom equipment and the expenditures made by large hospitals in constructing multiroom centers.
By Application Type
Based on application type, the proton therapy market is segmented into treatment applications and research applications. The treatment applications category dominated the market in 2022. High-energy proton beams are used in proton therapy, a form of radiation treatment, to cure cancer. It uses cutting-edge technology to target the tumor spot with radiation while protecting healthy surrounding tissue. Proton therapy is frequently used to treat prostate cancer because it enables precision tumor targeting with little harm to nearby healthy tissue. Primary and metastatic brain tumors can be treated using proton therapy.
By End User
Based on end user, the proton therapy market is segmented into hospitals, proton therapy center and others. The hospitals category dominated the market in 2022. The market rate is growing to a greater extent as a result of rising customer demands, an increase in patients with cancer disorders, and an increase in government policies requiring reimbursement and developing infrastructure in healthcare facilities with developed technologies installed in hospitals.
REGIONAL INSIGHTS
North America is projected to hold the largest share of the proton therapy market over the forecast period with more facilities in the area, more chronic diseases in the community, more patients in the population, and changes in food habits and lifestyle. This drives the proton therapy market during the projection period. As professional skill levels and government backing for integrating and implementing new breakthroughs in proton therapy expanded, new, cutting-edge technology emerged on the market. On the other hand, the the Asia Pacific proton therapy market is anticipated to grow significantly. The primary variables anticipated to increase demand for proton treatment products in the region are an increase in the incidence of cancer and a good reimbursement environment. Furthermore, rising hospital spending on opening new centres for this therapy and rising public knowledge of its advantages are anticipated to support market expansion.
LIST OF KEY COMPANIES PROFILED:
- 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
- Permedics
| Attributes | Details |
| Market Size in 2022 | USD 468.2 Million |
| Market Forecast in 2030 | USD 985.2 Million |
| Compound Annual Growth Rate | 13.20 % |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Indication, By Product, By Type, By Set-Up System, By Application Type, By End-User and By Geography |
| By Indication |
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| By Product |
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| By Type |
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| By Set-Up System |
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| By Application Type |
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| By End Users |
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| By Region |
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| Base Year | 2022 |
| Historical Year | 2016-2021 |
| Forecast Year | 2023-2030 |
