Dublin, Feb. 07, 2024 (GLOBE NEWSWIRE) — The “Radiotherapy Market by Type (Product, Service), Technology (MRI LINAC, Stereotactic, Particle Therapy, Cobalt-60 Teletherapy), Procedure (IMRT, IGRT, 3D-CRT, LDR, HDR), Application (Prostate, Breast, Lung), End User (Hospital) & Region – Global Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global particle therapy market is projected to reach USD 1.1 billion by 2028 from USD 0.7 billion in 2023, growing at a CAGR of 8.2% during the forecast period. The projected surge in market growth for the Particle therapy market is seen due to an increase in cancers, advancements in technologies, and increased awareness among individuals regarding cancer, Increased funding for cancer research. Prominent players in the particle therapy market are Varian Medical Systems, Inc. (US), IBA Worldwide (EU), and Hitachi (Japan) among others.
The Paediatric application segment to register highest CAGR over the forecast period of 2023-2028
Based on the cancer type, the Particle therapy market is segmented into pediatric cancer, breast cancer, lung cancer, prostate cancer, head and neck, and other cancers. Pediatric cancer has witnessed the highest growth rate In 2022. The increase in Paediatric cancers can be seen due to the following reasons genetic predisposition, developmental factors in infants, immature immune system, environmental exposures, maternal factors, and cellular vulnerability among others.
Asia Pacific to register significant growth rate in the market during the forecast period
For the forecasting period 2023-2028, the APAC region is expected to register a significant growth rate in the market during the forecast period. Asia Pacific comprises India, China, Japan, Australia, South Korea, and RoAPAC. The Asia-Pacific (APAC) region has witnessed a significant increase in the market growth rate for the particle therapy market. There are several drivers that contributed to this growth:
The maturing demographic profile observed in APAC countries accentuates the imperative for efficacious cancer treatment modalities characterized by minimized treatment-related adverse effects. This resonance with the precision-driven attributes of the Particle therapy market substantiates its pivotal role in enhancing the market landscape.
The incorporation of multilingual patient care offerings within APAC hospitals, combined with the accessibility to advanced treatments like the Particle therapy market, confers a unique allure to the region, particularly among a diverse patient spectrum. This fusion of linguistic inclusiveness and state-of-the-art medical interventions significantly enhances the region’s desirability as a favored healthcare destination, thereby fortifying its competitive position within the healthcare market landscape and concomitantly propelling the prominence of particle therapy market.
Research Coverage
- The report studies the Particle therapy market based on type, system, product, application, cancer type, and region.
- The report analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting market growth.
- The report evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.
- The report studies micro markets with respect to their growth trends, prospects, and contributions to the global Particle therapy market.
- The report forecasts the revenue of market segments with respect to five major regions.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 196 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $0.7 Billion |
| Forecasted Market Value (USD) by 2028 | $1.1 Billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Advantages of Particle Therapy Over Photon Therapy
- Growing Prevalence of Cancer
- Rising Adoption of Particle Therapy in Clinical Trials
- Increasing Number of Particle Therapy Centers Worldwide
- Technological Advancements
- Restraints
- Infrastructural Challenges in Healthcare Facilities
- Affordability and Accessibility of Treatments
- Unfavorable Reimbursement Policies and Limited Insurance Coverage for Particle Therapy
- Opportunities
- Growth Potential of Emerging Economies
- Challenges
- Difficulties in Visualizing Tumors During Particle Therapy Procedures
- Potential for Unwanted Radiation Exposure
Case Study Analysis
- Enhancing Patient Safety – RT’s Role in Minimizing Radiation Risk in an Elderly Patient (90-Year-Old Female with a Medically Inoperable Early-Stage NSCLC)
Companies Profiled
- Advanced Oncotherapy PLC
- Danfysik A/S
- Hitachi, Ltd.
- IBA Worldwide
- Mevion Medical Systems
- Optivus Proton Therapy, Inc.
- P-Cure, Ltd.
- Protom International, Inc.
- Provision Healthcare, LLC
- PTW Freiburg GmbH
- Sumitomo Heavy Industries Ltd.
- Toshiba Medical Systems Corporation
- Varian Medical Systems, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/w1r4wb
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- Global Particle Therapy Market
