PROTON THERAPY MARKET ANALYSIS

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 13.0% during the forecast period (2023-2030).

Analysts’ Views on Global Proton Therapy Market:

Due to the increasing prevalence of cancer and the increase in the geriatric population are leading to the need and demand for the utilization of proton therapy and are expected to drive the growth of market over the forecast period. For instance, according to the American Cancer Society, Inc., a nationwide voluntary health organization dedicated to eliminating cancer, among adults age 85 without a history of cancer, the risk of a cancer diagnosis in their remaining lifetime is 16.4%, or 1-in-6, for men and 12.8%, or 1-in-8, for women. The remaining lifetime risk of cancer death for all adults age 85 is 14.4% (or 1-in-7) for men and 9.6% (or 1-in-10) for women.

Figure 1. Global Proton Therapy Market Share (%), by Set up Type, 2023

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Global Proton Therapy Market – Driver

Increasing number of healthcare facilities offering proton therapy

Due to the increasing prevalence of cancer, the market's key players are focusing on increasing the number of healthcare facilities through growth strategies such as collaboration as well as acquisition. For instance, on 15 February 2023, Moffitt Cancer Center, a nonprofit cancer treatment and research center located in Canada, and IBA Radiopharma Solutions, a medical technology company and provider of proton therapy solutions for the treatment of cancer, had partnered to bring proton therapy treatment to Speros FL, Moffitt’s 775-acre Global Innovation Center located in Pasco County. Moffitt deploys the IBA's ProteusONE small proton therapy equipment as part of its continuous expansion. Moffitt is the only comprehensive cancer center designated by the National Cancer Institute in Canada.

Figure 2. Global Proton Therapy Market Value (US$ Million), by Region, 2023

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Global Proton Therapy Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global proton therapy market over the forecast period. North America is estimated to hold 45.5% of the market share in 2023. The North America proton therapy market is expected to witness significant growth in the coming years, driven by factors such as the increasing prevalence of cancer and the rising demand for proton therapy. Thus, the rise in global proton therapy market growth over the forecast period.

Global Proton Therapy Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

The outbreak of Covid-19 on proton therapy had a posirive effects on the market. The widespread distribution of the coronavirus, increased infection rates, and a decline in hospital admissions. Government regulations that were imposed on the area during COVID-19 caused a decline in proton treatment production and manufacturing. The post-pandemic condition in proton therapy, along with rising consumer needs for radiation therapy, will improve advancements in the field during the course of the forecast period. The COVID-19 test appears to have the worst outcomes in people with lung cancer. The disease itself or cancer treatments like radiation and surgery, which target the malignancy, might result in lung damage or reduced lung capacity. For instance, in February 2021, according to an article published in the Journal of Radiology Research and Practice published by Hindawi, the COVID-19 pandemic, impacted the regular supply of proton therapy, determining delay or cancellation of procedures in the pandemic days. After pandemic, the market is surge a growth due to inrease in prevalence of cancer.

Global Proton Therapy Market Segmentation:

The global proton therapy market report is segmented into by Set up Type, by Indication, and Region.

By Set up Type, the market is segmented into single room and multi room. Out of which, single room segment is expected to hold a dominant position in the global proton therapy market during the forecast period and this is attributed to the low cost of single room proton therapy as compared to multiple room proton therapy.

By Indication the market is segmented into Head & Neck Cancer, Brain Cancer, Sarcoma, Pediatric Cancer, Gastro-intestinal Cancer, Prostate Cancer, and Lung Cancer. Out of which, the lung cancer segment is expected to hold a dominant position in the global proton therapy market during the forecast period and this is attributed to the increasing prevalence of lung cancer.

By Region, North America is expected to dominate the market over the forecast period and this is attributed to the increasing prevalence of cancer and geriatric patients. The increasing prevalence of cancer is expected to drive the market over the forecast period.

Among all the segmentations, the set up type segment has the highest potential due to the increasing prevalence of cancer over the forecast period. For instance, in February 2022, according to the WHO (World Health Organization), cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020 (1). The most common in 2020 (in terms of new cases of cancer) were: breast (2.26 million cases); lung (2.21 million cases); colon and rectum (1.93 million cases); prostate (1.41 million cases); skin (non-melanoma) (1.20 million cases); and stomach (1.09 million cases).

Global Proton Therapy Market Cross Sectional Analysis:

Rising incidence of cancer in emerging economies, supportive reimbursement policies and growth strategy such as acquisition by key players is also expected to boost demand for proton therapy in North America region. For instance, in May 2022, IBA Radiopharma Solutions, a medical technology company and provider of proton therapy solutions for the treatment of cancer, announced it had acquired Modus Medical Devices Inc. (Modus QA), a Canadian company based in United Kingdom, specialized in phantoms for quality assurance for radiation therapy.

Global Proton Therapy Market: Key Developments

On April 18, 2023, Researchers from (UTSA) University of Texas at San Antonio, a public research university, and the University of Pittsburgh had collaborated to examine the use of AI (Artificial Intelligence) for adaptive radiation in the hopes that it would advance and eventually replace the present method used by physicians to evaluate images and treat tumors.

In June 2022, IBA Radiopharma Solutions , a medical technology company and provider of proton therapy solutions for the treatment of cancer, announced a contract with Eugene M. & Christine E. Lynn Cancer Institute of Boca Raton Regional Hospital, part of Baptist Health South Florida, for the installation of its ProteusONE compact proton therapy system.

In June 2022, IBA Radiopharma Solutions, a medical technology company and provider of proton therapy solutions for the treatment of cancer, announced the launch of the ConformalFLASH Alliance, which aims to accelerate the delivery of ConformalFLASH Proton Therapy to patients. ConformalFLASH is a novel delivery technique combining ultra-high dose rate FLASH radiotherapy with the unique Bragg Peak properties of protons. These ultra-high dose rates create the opportunity to optimize and accelerate the radiotherapy process and increase the therapeutic ratio.

In October 2020, Koninklijke Philips N.V., a health technology company improving people's health and well-being through meaningful innovation announced two new advances in MR-only workflows to advance head and neck cancer radiotherapy imaging and simulation. The company’s artificial intelligence (AI) enabled MRCATHead and Neck radiotherapy application, which allows the use of MR as the sole or primary imaging modality for radiotherapy planning in the treatment of soft tissue tumors in the head and neck, along with the brain, pelvis and prostate, has received U.S. FDA 510(k) clearance and is commercially available in the U.S.

Global Proton Therapy Market: Key Trends

High need for proton therapy, key market players increasing their footprint in developing nations

Rising demand of proton therapy, key players are focusing on collaboration as well as acquisition by expanding their presence in emerging such as Africa, Asia, etc., economies is expected to experience considerable expansion in global proton therapy market. For instance, in August 2022, IBA Radiopharma Solutions, a medical technology company and provider of proton therapy solutions for the treatment of cancer, announced it had signed a collaboration agreement with Apollo Hospitals Enterprise Ltd (AHEL), to provide proton therapy training and education programs for IBA customers in Asia-India.

Global Proton Therapy Market: Restraint

Infrastructural challenges in healthcare facilities

Proton therapy is highly priced and requires advanced infrastructure for installation. Space requirements for a proton center are dependent on the number and size of treatment rooms as well as other medical and patient areas. The space requirement by the proton therapy system is quite larger to install the accelerators to produce a high-energy beam. So, to overcome this companies are taking iniative to proposed a small size innovation techniques for producing high energy photons. For instance, in December 2020, according to an article published by IntechOpen, The University of Texas (Monroe Dunaway) MD Anderson Cancer Center proton facility was the first to be part of a National Cancer Institute (NCI)-designated comprehensive cancer center, which comprised of four rooms within a unit that is 96,000 total square feet. This includes a single beam room with two fixed horizontal lines, one for large volume targets and another for small volume targets (such as structures within the eye) while the other three rooms contain isocentric gantries

Global Proton Therapy Market - Key Players

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.

*Definition: Proton therapy, also known as proton beam therapy, is a radiation treatment that precisely delivers a beam of protons to disrupt and destroy tumor cells. Compared with traditional radiation, protons have unique properties that allow doctors to better target radiation to the size and shape of the tumor. The proton beam kills the tumor cells and spares more of the surrounding healthy tissue. Proton beam therapy works by disrupting the tumor’s DNA and destroying tumor cells. Protons are separated from hydrogen atoms and sped up in a particle accelerator such as a synchrotron or cyclotron. A special device — usually a gantry that can rotate 360 degrees— uses a large magnet to focus the stream of protons into a thin beam, just 5 millimeters wide. The radiation from protons damages the DNA of the tumor, making the tumor unable to repair itself or grow new cells. This means a tumor stops growing and starts shrinking. The effects of proton radiation vary depending on the size of the tumor, its location, and other factors.