The global particle therapy market was valued at US$ 560.3 Mn in 2021 and is projected to expand at a CAGR of 8.6% from 2022 to 2031 to surpass US$ 1.2 Bn by 2031.
The global particle therapy market was valued at US$ 560.3 Mn in 2021 and is projected to expand at a CAGR of 8.6% from 2022 to 2031 to surpass US$ 1.2 Bn by 2031.
Particle therapy is employed in the treatment of several kinds of cancers such as pediatric cancer, bone and soft tissue tumors, etc. Increase in the number of particle therapy centers and cancer patients is anticipated to drive the global particle therapy market.
Moreover, rise in investment in cancer research and surge in the number of particle therapy centers & clinical trials are major factors propelling the global particle therapy market. Moreover, surge in technological advancements in healthcare medical devices is expected to augment the global particle market during the forecast years.
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Market players are focusing on collaborations and partnerships with leading research organizations for clinical trials and special cancer care facilities. This is likely to create significant opportunities in the global particle therapy market in the near future. In 2017, Mitsubishi Electric signed an agreement to transfer its particle therapy systems business to Hitachi and integrate into one entity. This helped Hitachi to improve its position in the proton therapy market.
Key Takeaways
- In terms of therapy, the proton therapy segment is projected to account for around 87% share of the global market in 2021
- Particle therapy is primarily used in the treatment of brain and spinal cord tumors. The brain & spinal cord tumors segment accounted for 21% share of the global market in 2021.
- In terms of service, the cyclotrons segment is anticipated to reach US$ 745 Mn by 2031
- The hospitals segment is expected to account for 68% market share by 2031. The segment is likely to expand at a CAGR of 9% from 2022 to 2031.
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- In terms of region, North America accounted for a share of 49% of the global market in 2021. The market in the region is projected to grow at a rapid pace during the forecast period.
- The U.S. dominated the market in North America in 2022. The market in the country is anticipated to expand at a CAGR of 7.5% from 2022 to 2031.
- China dominated the market in Asia Pacific, accounting for 47% share in 2021. The market in the country is expected to expand at a CAGR of 7.4% during the forecast period.
Competitive Landscape Outlook
The global particle therapy market is fragmented due to the presence of a large number of leading players. Key players operating in the global market include Advanced Oncotherapy plc, Danfysik A/S, Hitachi, Ltd., IBA Worldwide, Mevion Medical Systems, Inc., Optivus Proton Therapy, Inc., ProTom International, Inc., Provision Healthcare, Sumitomo Heavy Industries, Ltd., Varian Medical Systems, Inc., and other prominent players.
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Global Particle Therapy Market: Key Developments
- In January 2021, Advanced Oncotherapy entered into a financing partnership with DiaMedCare, a Switzerland-based active financing specialist for innovative technologies and equipment for projects in Europe and the U.S.
- In October 2018, the Siteman Cancer Center at Barnes-Jewish Hospital and Washington University School of Medicine in St. Louis entered into an agreement with Mevion Medical System to include the second proton therapy system at the center. The new equipment to be included is the MEVION S250i Proton Therapy System with HYPERSCAN Pencil Beam Scanning (PBS) technology.
- In 2017, Royal Philips (U.S.) and Proton Partners International (U.K.) collaborated with IBA (Belgium) to build the first compact proton therapy system in the Middle East
Global Particle Therapy Market: Segmentation
- Particle Therapy Market, by Therapy
- Proton Therapy
- Heavy Ion Therapy
- Particle Therapy Market, by Application
- Pediatric Cancer
- Lung Cancer
- Bladder Cancer
- Brain & Spinal Cord Tumors (BSCT)
- Breast Cancer
- Gastrointestinal (GI) Cancers
- Hepatocellular Carcinoma (HCC)
- Head & Neck Cancers (HNC)
- Others
- Particle Therapy Market, by Service
- Cyclotrons
- Synchrotrons
- Synchrocyclotrons
- Particle Therapy Market, by End-user
- Hospitals
- Academic & Research Centers
- Particle Therapy Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- Rest of Asia Pacific
- Rest of the World
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