The Proton Therapy Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

BURLINGAME, WASHINGTON, UNITED STATES, November 28, 2023 /EINPresswire.com/ -- Market Overview:

Proton therapy is a type of radiation therapy that uses proton beams to treat cancer. It is used to treat tumors located close to critical structures like optic nerves and brainstem. Proton therapy has applications for treating cancers like lung cancer, brain tumors, and prostate cancer.

Market Dynamics:

The growth of the proton therapy market is driven by rising prevalence of cancer and increasing adoption of proton therapy for cancer treatment. According to the World Health Organization (WHO), cancer is the second leading cause of death globally and accounted for nearly 10 million deaths in 2020. Furthermore, advantages of proton therapy over photon therapy such as reduced side effects is also fueling the market growth. Proton therapy offers greater precision and reduced collateral tissue damage compared to traditional photon radiation therapy. It allows higher radiation doses to be focused directly on the tumor while minimizing exposure of surrounding healthy tissue to radiation.

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** Note – This Report Sample Includes:

‣ Brief Overview to the research study.

‣ Table of Contents The scope of the study’s coverage

‣ Leading market participants

‣ Structure of the report’s research framework

‣ Coherent Market Insights’ research approach

Major companies in Proton Therapy Market are:

✤ 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.
✤ Advanced Oncotherapy plc.

Note: Major Players are sorted in no particular order.

Major Driver - Increasing incidence of cancer across the globe:

The cancer burden has been rising substantially across the globe. According to WHO, around 19.3 million new cancer cases and 9.9 million cancer deaths occurred in 2020 worldwide. The four most common cancers in terms of incidence were lung, breast, colorectal and prostate cancer. Additionally, lung cancer was the leading cause of cancer death. With the growing aging population and changing lifestyle factors including smoking, alcohol consumption and unhealthy diet, the cancer cases are expected to further rise in future. The increasing incidence of cancer cases globally presents a significant driver for the proton therapy market as it is one of the most effective forms of radiation treatment for cancer.

Major Driver - Superior properties of proton therapy over photon therapy:

Proton therapy offers various advantages over traditional photon therapy such as reduced damage to surrounding healthy tissues and lesser side effects. In proton therapy, radiation is deposited at a specified depth in the tumor and there is no exit dose beyond the target region which helps protect critical structures nearby. Therefore, proton therapy is highly effective for treating cancer cases located near vital organs. With photon therapy, radiation scatters throughout the body and also deposits additional doses in healthy tissues away from the tumor area. The superior dose distribution and tissue sparing ability of proton therapy makes it more suitable for certain cancer types such as brain tumors, making it a major driver of the market.

Major Restrain - High installation and operational costs:

One of the major restrain for the proton therapy market is the high capital requirement and operating costs associated with proton therapy centers. The equipment prices itself range between $100 million to $250 million for a single-room system. Additionally, the building and infrastructure costs add substantially. Furthermore, the operational and maintenance expenses are also significant with yearly costs estimated to be around $10-12 million per room. These heavy costs pose a challenge for widespread adoption of proton therapy. Additionally, lack of complete insurance coverage for treatment also restrict its accessibility. The high costs involved acts as a major obstacle in the growth of the proton therapy market.

Major Opportunity - Emerging economies with rapidly rising cancer burden:

The emerging economies in Asia Pacific, Latin America, Middle East and Africa present significant opportunities for the growth of proton therapy market. These countries are witnessing rising burden of cancer owing to growing aging population and changes in lifestyle factors. As per International Agency for Research on Cancer, the proportion of cancer deaths in low and middle-income countries will rise from the current 56% to over 60% by 2030. Additionally, these emerging nations have limited access to advanced cancer treatment options including proton therapy due to their high costs till date. However, with improving healthcare infrastructure and investments, developing nations provide lucrative opportunities for market players to expand their presence in these emerging markets. This offers a major opportunity for established as well as new proton therapy system manufacturers.

Major Trend - Growing adoption of single-room proton therapy systems:

One of the major trend in the proton therapy market is the increasing adoption of single-room proton therapy systems across hospitals and cancer care centers. Conventional multi-room proton therapy centers require substantial initial investment of over $200 million and large space. This makes them suitable only for large academic medical centers. However, the newer single-room proton therapy systems have entry costs as low as $100 million. Additionally, single-room systems offer compact design enabling installation in smaller spaces. Many hospitals are now going for single-room systems considering their relatively lower costs and space requirements. Furthermore, major players are focusing on developing innovative and affordable single-room proton therapy solutions to expand access and drive the market growth. Continued developments in single-room systems present a notable trend in the proton therapy industry.

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Highlights of the global Proton Therapy Market report:

→ This analysis provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), using 2021 as the base year. It also covers the global Proton Therapy Market in-depth.

→ It offers enticing investment proposition matrices for this sector and explains the likely future growth of key revenue streams.

→ Additionally, this study offers crucial insights into market forces, limitations, opportunities, new product introductions or approvals, market trends, regional perspective, and competitive tactics used by top rivals.

→ Based on the following factors: company highlights, product portfolio, significant highlights, financial performance, and strategies, it covers key players in the global Proton Therapy Market.

→ Marketers and company leaders will be able to make wise decisions about next product launches, type updates, market expansion, and marketing strategies thanks to the insights from this research.

→ A wide spectrum of industry stakeholders are covered by the global Proton Therapy Market research, including investors, vendors, product producers, distributors, new entrants, and financial analysts.

→ The many strategy matrices used in researching the global Proton Therapy Market will aid stakeholders in making decisions.

The research was developed through the synthesis, analysis, and interpretation of data gathered from multiple sources on the parent market. Additionally, analysis has been done of the economic circumstances and other economic indicators and factors to evaluate their respective impact on the Proton Therapy Market, along with the present impact, so as to develop strategic and informed projections about the scenarios in the market. This is mostly due to the developing countries’ unmet potential in terms of product pricing and revenue collection.

Key Questions Answered In The Report:

• Which regional market will experience the greatest and most rapid growth?

• Who are the top five Proton Therapy Market players?

• How will the Proton Therapy Market evolve over the next six years?

• What application and product will dominate the Proton Therapy Market?

• What are the market drivers and constraints for Proton Therapy Market?

• What will be the Proton Therapy Market’s CAGR and size during the forecast period?

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About Coherent Market Insights

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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Coherent Market Insights Pvt. Ltd.
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