Particle Therapy Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2034
Page: 215 | Report Code: LS240912 | Research Suite: Report (PDF) & Market Data (Excel)
Particle therapy is a type of external beam radiation,
mostly using beams of protons, for the treatment of cancerous tumors. Particle
therapy is also referred to more technically as hadron therapy. In this therapy
most particle beams radiation is delivered in a precise manner and has unique
physical characteristics, which minimize the collateral damage to normal
tissues. This feature is particularly relevant for tumors located near critical
structures and not spreading to other parts of the body. The use of particle
therapy alleviates the damage to the nearby normal tissues, thus reducing the
long-term side effects of radiation therapy.
MARKET
OVERVIEW
The market valuation of the particle therapy market was valued at approximately USD 1.5 billion in 2023 and is projected to reach USD 2.6 billion in 2034 exhibiting a CAGR of 7.6% during the forecast period of 2024-2034. Particle therapy reduces the harm to heathy tissue and improves the disease control. The market is aligned with the healthcare sector, which makes it a sustainable and growing market.
GROWTH
DRIVERS
The rise in prevalence of cancer globally is the key primary driver of the market towards growth. International Agency for Research on Cancer (IARC) 2022 report highlights that 20 million new cancer cases and 9.7 million deaths globally, with lung and breast cancer being most common. Moreover, cancer cases are projected to increase to 35 million by 2050, particularly in low and medium HDI countries, highlighting the need for improved healthcare infrastructure and access to cost-effective cancer services.
This growth in cancer patients supports the market growth. The continuous advancement and innovation in the particle therapy technology like pencil beam scanning, intensity modulated proton therapy or image guided proton therapy, improving the treatment precision and efficiency significantly drives the market adoption and growth. National Health Library (PMCID: PMC8291177PMID: 34176252) states that with the technological advances, the technical difficulties in the clinical use of particle beams have been overcome, and the cost-effectiveness of charged particle therapy has also been improved. Moreover, the numbers of particle-therapy facilities and patients treated with this technology have increased rapidly recently.
The technological advancements and innovations coupled with cost effectiveness fuel the market adoption and growth. The increase in investments in research and clinical trials aimed at improving the effectiveness of the particle therapy for various cancer types significantly boosts adoption of the market. For instance, on May 2024, University of Wisconsin-Madison launched initiatives with a focus on particle beam radiation used in like proton therapy, in which radiation travels to a specified depth in the tissue and stops, reducing the delivery of potentially harmful radiation to healthy tissues and sparing patients from some treatment-related toxicities.
They also received a grant of USD 20 million from
National Cancer Institue and USD 1.5 million seed investment from the Wisconsin
Alumni Research Foundation. The rise in aging population is more incident to
cancer where American Cancer Society database states that 39.6% of women and
41.6% of men are estimated to develop cancer during their lifetime. Nearly
two-thirds of all new cases are diagnosed in people aged 65 years and above.
The United Nations highlights that the percentage of the global population aged
65 and above is expected to rise from 10% in 2022 to 16% in 2050. Thus, the
rising geriatric population drives the market growth.
MARKET
SEGMENTATION:
·
By Therapy Type- proton
therapy (cyclotron and synchrotrons), heavy-ion therapy and hybrid particle
therapy
·
By Room Configuration Type-
single room and multi room
·
By Application-
research and treatment
·
By Cancer Type-
pediatric cancer, breast cancer, lung cancer, prostate cancer, colorectal
cancer, liver cancer and others
·
By Region- North America,
Europe, Asia Pacific, Middle & Africa and South America
Particle
Therapy Market Segment By Therapy Type Review:
In proton therapy or proton beam therapy, an advanced and highly precise radiation of protons is provided for the treatment for tumors. As compared with other methods, it focuses more energy on the tumor itself with less side effects to the surrounding healthy tissue. In the heavy ion therapy, the heavy ions are accelerated to approximately 70% of the speed of the light to the patient’s body and mostly utilized for the deep seated cancer tumors. In the hybrid segment, it offers the benefits of proton and heavy ion therapy.
Particle
Therapy Market Segment By Room Configuration Type Review:
Single room therapy is a room with particle therapy
facilities suitable for a single patient whereas multi room configuration
enables treating more than one patient at once. The rooms are equipped with
therapy equipments with large magnets that direct the beams to the patient's
tumor.
Particle
Therapy Market Segment By Application Type Review:
The research in particle therapy is conducted focused upon
expanding the understanding the knowledge of proton beam therapy and heavy
ion radiation, its further side effects and optimization. It also includes the
development of new indications and technological advancements. The treatment
application is the primary application for the treatment of cancer patients.
Particle
Therapy Market Segment By Cancer Type Review:
The pediatric cancer, also known as childhood cancer, is
found in children or teenagers upto age 19. Breast cancer is situated close to
the heart and lungs where the abnormal cells grow out of control and forms
tumor. It can also spread when the cancer cells get into the blood or lymph
system and then are carried to other parts of the body. Lung cancer is caused
due to the exposure of pollutants or harmful chemicals in the air where
smoking is the major cause, and the tumor is generally formed in the lining air
passage. Prostate cancer is a common type of cancer found in men, formed in the
prostate gland. The colorectal cancer is formed either in the large
intestine or in the rectum where it develops from certain polyps or growths in
the inner lining of the colon. In liver cancer the tumor cells are
originated in the liver, the most common type of liver cancer starts in cells
called hepatocytes and is called hepatocellular carcinoma.
Particle
Therapy Market Segment By Regional Review:
North America is a significant market driven by the high cancer incidences which drives the demand of the market. The government support like funding and subsidies aimed at establishing cancer therapy centers significantly drives the market towards growth. Europe is a valuable market driven by the well-established and advanced healthcare sector coupled with high focus on research and clinical trials. Moreover, the region has market key players and an increase in cancer rates that supports market growth. Asia Pacific is a rapidly growing market driven by the rise in cancer incidence and growing healthcare infrastructure. The Middle East and Africa market is anticipated to grow driven by the investments in healthcare infrastructure. South America is a promising market driven by the rise in cancer cases and improving healthcare infrastructure and access.
Key
Challenges:
The particle therapy system involves significant investment
including single and multi room construction requirements, radiation shielding
and equipments. The high setup costs limits the adoption by smaller healthcare
facilities with low financial budgets. The lack of reimbursements and insurance
coverages where the expense is not fully or partially covered creates financial
stress and barrier for patients which is one of the significant challenge for
the market.
Competitive
Landscape:
In the highly competitive particle therapy market, companies
are investing heavily in research and development to innovate and improve their
products and services. They are also collaborating, forming strategic
partnerships, or acquiring other companies to gain access to new market
segments, enhance distribution networks, and increase market share. The key
recent news and developments include- In January 2024, OncoRay launched MRI-guided
proton therapy, the world’s first research prototype for complete body and this
system is designed to offer real-time MRI tracking of moving tumors during
proton therapy In October 2023, Hitachi, Ltd. delivered a proton therapy system
to the National Cancer Centre Singapore (NCCS).
Global
Key Players:
·
IBA Worldwide
·
Varian Medical Systems
·
Hitachi
·
Mevion Medical Systems
·
Optivus Proton Therapy
·
Sumitomo Heavy Industries, Ltd.
·
Danfysik A/S
·
Provision Healthcare
· Other Players
Attributes |
Details |
Base Year |
2023 |
Trend Period |
2024 – 2034 |
Forecast Period |
2024 – 2034 |
Pages |
215 |
By Therapy Type |
proton therapy (cyclotron and
synchrotrons), heavy-ion therapy and hybrid particle therapy |
By Room Configuration Type |
single room and multi
room |
By Application |
research and treatment |
By Cancer Type |
pediatric cancer,
breast cancer, lung cancer, prostate cancer, colorectal cancer, liver cancer
and others |
By region |
North America, Europe,
Asia Pacific, the Middle East and Africa, and South America |
Company Profiles |
IBA Worldwide, Varian
Medical Systems, Hitachi, Mevion Medical Systems, Optivus Proton Therapy, Sumitomo
Heavy Industries, Ltd., Danfysik A/S, Provision Healthcare, Other Players |
Edition |
1st edition |
Publication |
September
2024 |