Global Proton therapy market, By Set up Type (Single Room, and Multiple Room), By Indication (Head & Neck Cancer, Brain Cancer, Sarcoma, Pediatric Cancer, Gastro-intestinal Cancer, Prostate Cancer, and Lung Cancer), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) is estimated to be valued at US$ 2,763.2 Million in 2023 and is expected to exhibit a CAGR of 13.0% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focused on adopting growth strategies such as acquisition and partnerships, which will drive the global proton therapy market. For instance, in April 2021, Siemens Healthineers GmbH announced that it has successfully completed the acquisition of Varian Medical Systems, Inc., an U.S. radiation oncology treatments and software maker. Varian and Siemens Healthineers GmbH Private Limited are building on the long-standing strategic partnership called "EnVision" to establish a comprehensive digital, diagnostic, and therapeutic ecosystem that includes treatment management. With Varian, Siemens Healthineers will leverage AI-assisted analytics to advance the development and delivery of data-driven precision care and redefine cancer diagnosis, care delivery and post-treatment survivorship.
Global proton therapy market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
The outbreak of COVID-19 on proton therapy had a positive effects on the market. The wide spread of the coronavirus with rising infection and reduced number of patients visiting the hospital for treatment. Imposed rules in the region from the government during COVID-19 led to a decrease in the production and manufacturing of proton therapy. The post-pandemic situation in proton therapy with increased demands from the customer for radiation therapy and enhance developments in proton therapy during the forecast period. COVID-19 appears to have the worst results in lung cancer patients. Lung damage or reduced lung capacity can be caused by the disease itself or by cancer treatments such as radiation and surgery. For instance, in May 2020, according to The University of Texas MD Anderson Cancer Center a comprehensive cancer center in the U.S., the screening of cancer patients gradually decreased during the pandemic, which tends to show a reduction in the use of proton therapy for cancer and also affected the gradually count of cancer patients.
Global proton therapy market: Key Developments
In April 2022, The Connecticut Office of Health Strategy (OHS), which develops health policy that improves health outcomes, announced that it had approved, with conditions, the Certificate of Need application to allow Harford HealthCare Corporation, a provider of healthcare services and Yale New Haven Health Services Corporation, a nonprofit healthcare system to establish proton therapy services through a newly established joint venture, Connecticut Proton Therapy Center, LLC.
In March 2022, Tractebel, a global engineering compan, and IBA Radiopharma Solutions, designs, builds, and operates PET centers that produce radiopharmaceuticals for cancer treatment, announced that it has signed a partnership agreement to strengthen their cooperation in the field of proton therapy, an advanced form of radiation therapy designed to kill cancer cells. The agreement provides that IBA will promote Tractebel’s engineering services to its prospective customers to help them design and build proton therapy facilities.
In March 2021, Mevion Medical Systems, a provider of proton therapy systems for use in radiation treatment for cancer patients, announced that it has signed a partnership agreement with Children’s Hospital of Fudan University in Shanghai and Shanghai Fosun Healthcare (Group) Co., Ltd. to establish the first pediatric proton therapy center in China. Under the agreement, the three parties will collaborate on the proton therapy center’s development, clinical services, training, and research activities.
Browse 32 Market Data Tables and 23 Figures spread through 125 Pages and in-depth TOC on “Global proton therapy market”- Forecast to 2030, Global proton therapy market, by Set up Type (Single Room, and Multiple Room), By Indication (Head & Neck Cancer, Brain Cancer, Sarcoma, Pediatric Cancer, Gastro-intestinal Cancer, Prostate Cancer, and Lung Cancer), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/proton-therapy-market-3672
Key Takeaways of the Global proton therapy market:
- The global proton therapy market is expected to exhibit a CAGR of 0% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global proton therapy market.
- Among Indication, lung cancer segment is expected to grow in the global proton therapy market over the forecast period. For instance, in March 2022, according to World Health Organization (WHO), an estimated 28.4 million new cancer cases are projected to occur in 2040, a 47% increase from the estimated 19.3 million cases in 2020.
- Among set up Type, the 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 technological advancements in the field of proton therapy market. For instance, in October 2022, Mevion Medical Systems, a provider of proton therapy systems for use in radiation treatment for cancer patients, announced that it is developing the MEVION S250-FIT Proton Therapy System with HYPERSCAN Pencil Beam Scanning (PBS). Stanford Health Care has been selected as the first site where the system will be developed and installed.
- Among region, North America is expected to be the dominant region in the global proton therapy market, owing to key players being focused on inorganic growth strategies such as collaboration. For instance, in November 2020, Varian Medical Systems, Inc., an U.S. radiation oncology treatments and software maker, and the Cincinnati Children's/UC Health Proton Therapy Center announced the start of the first clinical trial of FLASH therapy as part of the recently opened FAST-01 study (Feasibility Study of FLASH Radiotherapy for the Treatment of Symptomatic Bone Metastases). The clinical trial involves the investigational use of Varian's ProBeam particle accelerator modified to enable radiation therapy delivery at ultra-high dose rates (dose delivered in less than 1 second) and is being conducted at the Cincinnati Children's/UC Health Proton Therapy Center with John C. Breneman M.D., Medical Director of the center, serving as principal investigator.
- 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.
