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Global Proton Therapy Market is estimated to surpass US$ 4,494.0 Mn by the end of 2027, Says CMI

SEATTLE, April 20, 2020 (GLOBE NEWSWIRE) -- Proton therapy is a radiation therapy that uses protons rather than x-rays for the treatment of various types of cancer such as uveal melanoma, liver cancer, prostate cancer, choroidal melanoma, nasal cavity and paranasal sinus cancer, nasopharyngeal cancers, chordoma, chondrosarcoma, malignant meningioma lung cancer, spinal and pelvic sarcomas, and non-cancerous brain tumors.

Statistics:

The global proton therapy market is estimated to account for US$ 1,549.7 Mn in terms of value by the end of 2027.

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Market Drivers:

Increasing prevalence of cancer is expected to propel growth of the global proton therapy market over the forecast period. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.

Increasing funding for cancer research is also expected to aid in growth of the market. For instance, in April 2020, the state government of Kansas (U.S) awarded The University of Kansas Cancer Center with an additional US$ 5 million grant for cancer research.

Market Opportunities:

R&D in proton therapy is expected to offer lucrative growth opportunities for players in the global proton therapy market. For instance, in April 2020, researchers from Samsung Medical Center, South Korea, reported investigating the targeting of checkpoint kinase 1 as a promising strategy to potentiate proton therapy in human triple-negative breast cancer cells.

Moreover, use of proton therapy in combination with of other therapies is also expected to aid in growth of the market. For instance, in September 2019, researchers from Southern Tohoku Proton Therapy Center, Japan, reported that proton therapy combined with intra-arterial infusion chemotherapy was useful in establishing control of the primary tumor and maintaining the patient’s quality of life in the treatment of stage IV adenoid cystic carcinoma of the base of the tongue.

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Key Takeaways:

The global proton therapy market was valued at US$ 1,058.1 Mn in 2019 and is forecast to reach US$ 1,549.8 Mn by 2027 at a CAGR of 4.7% between 2020 and 2027. Increasing prevalence of cancer is expected to propel growth of the global proton therapy market over the forecast period.

Full Ring PET Scanner segment held dominant position in the global proton therapy market in 2019, accounting for 84.3% share in terms of value, followed by Partial Ring PET Scanner, respectively. Increasing research and development in proton therapy is expected to drive the growth of the segment during the forecast period.

Oncology segment held dominant position in the global proton therapy market in 2019, accounting for 85.6% share in terms of value, followed by cardiology and neurology, respectively. Increasing adoption of radiopharmaceuticals for treatment of cancer in developed and developing economies is expected to assist the growth of oncology segment during the forecast period.

Market Trends

In North America, increasing prevalence of lung cancer is expected to propel growth of the market. For instance, according to The American Cancer Society, the U.S. is expected to record around 228,820 new cases of lung cancer and around 135,720 deaths due to the disease.

Competitive Landscape

Major players operating in the global proton therapy market include, Hitachi Ltd., Ion Beam Applications SA, Mevion Medical Systems, Mitsubishi Electric Corporation, ProNova Solutions, LLC, ProTom International, Sumitomo Heavy Industries Ltd., and Varian Medical Systems.

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Taxonomy (Scope, segments)

  • Global Positron Emission Tomography (PET) Market, By Product Type:
    • Full Ring PET Scanner 
    • Partial Ring PET Scanner
  • Global Positron Emission Tomography (PET) Market, By Application:
    • Oncology 
    • Cardiology
    • Neurology
    • Others
  • Global Positron Emission Tomography (PET) Market, By Detector Type:
    • Bismuth Germanium Oxide (BGO) 
    • Lutetium Oxyorthosilicate (LSO)
    • Gadolinium Oxyorthosilicate (GSO)
    • Lutetium Fine Silicate (LFS)
    • Lutetium Yttrium Orthosilicate
  • Global Positron Emission Tomography (PET) Market, By End User:
    • Hospitals
    • Diagnostic Centres
    • PET Centres
    • Research Institutes
  • Global Positron Emission Tomography (PET) Market, By Geography:
    • North America
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Country:
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East:
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Country/Region:
        • Central Africa
        • South Africa
        • North Africa
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