Proton Therapy Market Growing Rapidly with Market Trends, Growth, Revenue and Future scope with Top Key Players
Increased demand for proton radiotherapy has led to a significant increase in cancer centres in the world to establish proton therapy treatment.
HYDERABAD, TELANGANA, INDIA, January 17, 2023 /EINPresswire.com/ -- The Proton Therapy Market is estimated to reach revenue of $2.51 billion by 2025 from $1.32 billion, growing at a CAGR of 13.5% during the forecast period 2019-2025. The growth of the proton therapy market is owed to the ability or potential to lower the risk of side effects arising from the drugs in the market. Increased demand for proton radiotherapy has led to a significant increase in cancer centres in the world to establish proton therapy treatment. The report covers the Proton Therapy Market size by applications, Proton Therapy Market share by top 5 companies and also the market share by start-ups during the forecast period.
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Key Takeaways
1. Proton Therapy is the most accurate and precise form of radiation therapy used in the treatment of cancer. Particle therapy facility used has numerous limitations and Proton therapy overcame all the defects that arise.
2. Proton radiation can be delivered using the scattered proton technique where protons enter on a relatively constant scattered radiation dose. Earlier synchrocyclotron was used to deliver the energy protons. Now, Isochronous cyclotrons are used which deliver high-energy protons for therapy. Proton therapy includes external beam radiotherapy that uses ionizing radiation. Because of ionization, the radiation damages molecules within the cells, especially the DNA.
3. Major players in the Proton Therapy market are Ion Beam Applications, Varian Medical Systems, Fermilab Scientists, Optivus and Hitachi.
4. Proton Therapy obtains a huge advantage over conventional radiation therapy due to the limited side effects and the painless treatment mechanism which helps to maintain a better quality of life for the patients.
5. It allows physicians to deliver higher treatment dosages that eliminate the major tumour cells without affecting surrounding healthy tissue or organs.
6. Introduction of LIGHT, which is the first commercial 3GHz linac system for proton therapy for active spot scanning mechanism using beam detection methods.
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Segmental Analysis:
1. On the basis of Application, the lung cancer segment is estimated to be the major segment due to the huge increase in lung cancer deaths in 2018 and accounted for a growth rate of 7.1% during the forecast period 2019-2025. According to WHO, Lung cancer is responsible for the largest number of deaths (1.8 million deaths, 18.4% of the total), followed by colorectal cancer and prostate cancer.
2. North America is estimated to hold the highest share, of 36% in the market in 2018 due to the rising ageing population and the increasing number of cancer patients. As the awareness and adoption of proton therapy increased, the market became widened. To develop this, the facilities and availability of centres for treatment have also increased. According to The National Association for Proton Therapy, there are 25 centres and 11 centres are under construction in the U.S. providing proton therapy treatment across the United States which consists of labs, therapy centres etc.
Competitive Landscape:
The top 5 players in the Proton Therapy industry are -
1. Ion Beam Applications
2. Varian Medical Systems
3. Fermilab Scientists
4. Optivus
5. Hitachi
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