The global Proton Therapy Market is estimated to be valued at US$ 2,763.2 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Proton therapy also known as proton beam therapy is a type of external beam radiation therapy that uses protons rather than X-rays to treat cancer. Proton therapy works by aiming vibrant beams of protons into cancerous tumors with very high specificity and reduced damage to surrounding healthy tissues. This offers potential benefits over photon-based therapies.
Market key trends:
One of the key trends in the proton therapy market is integration of 5G network connectivity. With the advent of 5G network connectivity, Proton beam delivery system will become more efficient and accurate by enabling real-time machine learning guidance and precision algorithms. This will enhance target localization capabilities for tumor tracking and adaptive radiotherapy. 5G will also aid in remote monitoring of proton therapy machines and data transfer between connected systems. This will further push the demand for advanced proton therapy technologies in the coming years.
Segment Analysis
The Global Proton Therapy Market is segmented on the basis of type, system, application, and end user. Based on type, the market is segmented into proton therapy systems and proton therapy services. The proton therapy systems segment is expected to dominate the market during the forecast period. This is due to factors such as advanced technology, high accuracy, and efficacy of proton therapy systems in cancer treatment.
Key Takeaways
The global proton therapy market is expected to witness high growth, exhibiting a CAGR of 13% over the forecast period, due to increasing prevalence of cancer worldwide.
Regional analysis
North America is expected to dominate the global proton therapy market over the forecast period. This is attributed to the robust presence of key players, high prevalence of cancer, and availability of proton therapy facilities in the region. According to the National Cancer Institute, in 2022, approximately 1.9 million new cancer cases and 609,360 cancer deaths are projected to occur in the United States.
Key players
Key players operating in the proton therapy market are Hitachi Ltd., Ion Beam Applications S.A, Mevion Medical Systems, Mitsubishi Electric Corporation, Provision Healthcare, ProTom International, Sumitomo Heavy Industries, Varian Medical Systems, Optivus Proton Therapy, Inc., and Advanced Oncotherapy plc.
The global proton therapy market size is expected to reach US$ 2,763.2 million by 2023. Major players operating in the global proton therapy market include Hitachi Ltd., Ion Beam Applications S.A, Mevion Medical Systems, Mitsubishi Electric Corporation, Provision Healthcare, ProTom International, Sumitomo Heavy Industries, Varian Medical Systems, Optivus Proton Therapy, Inc., and Advanced Oncotherapy plc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it