(PharmaNewsWire.Com, September 10, 2021 ) According to the new market research report “Particle Therapy Market by Type (Heavy Ion, Proton Therapy), Products (Cyclotron, Synchrotron, Synchrocyclotron), Services, System (Single-room, Multi-room), Cancer Type (Pediatric, Prostate, Breast), Application (Treatment, Research) – Forecast to 2023“, published by MarketsandMarkets™, the global Particle Therapy Market is projected to reach USD 1,349 million by 2023 from USD 865 million in 2018, at a CAGR of 9.3%.
The major factors driving the growth of the Particle Therapy Market are the growing global prevalence of cancer, growing adoption of particle therapy in clinical trials, advantages offered by particle therapy over photon therapy, and the increasing number of particle therapy centers worldwide.
The pediatric cancer segment is expected to account for the largest share of the Particle Therapy Market, by cancer type, in 2018
Based on cancer type, the Particle Therapy Market is segmented into pediatric cancer, prostate cancer, breast cancer, lung cancer, head & neck cancer, and other cancers. The pediatric cancer segment is expected to account for the largest share of the Particle Therapy Market in 2018. The growing incidence of pediatric cancer and the high success rates and minimal long-term risks achieved with particle therapy are the major factors driving the growth of this market segment.
Research applications to register the highest CAGR in the global Particle Therapy Market during the forecast period
Based on applications, the Particle Therapy Market is segmented into treatment applications and research applications. The research applications segment is expected to witness the highest CAGR during the forecast period. Growing awareness about the research applications of particle therapy systems, development of cost-effective and technologically advanced diagnostic and therapeutic particle therapy systems, and increasing industry-academia collaborations in the field of research are the key factors driving the growth of this segment.
Asia Pacific to dominate the Particle Therapy Market during the forecast period
The Particle Therapy Market is segmented into four regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific region is expected to account for the largest share of the global Particle Therapy Market in 2018, and this trend is expected to continue during the forecast period. The Asia Pacific region is expected to offer significant growth opportunities for players operating in the Particle Therapy Market owing to the increasing healthcare expenditure and growing initiatives to promote the use of advanced particle therapy technologies in Asia Pacific countries.
The major players operating in the Particle Therapy Market are Ion Beam Applications SA (Belgium), Varian Medical Systems, Inc. (US), Hitachi, Ltd. (Japan), 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).
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