The global ”particle therapy market” is set to gain impetus from the increasing prevalence of cancer. As per the American Cancer Society 2020 Facts & Figures, more than 1.8 million new cancer cases are estimated to bediagnosed in the U.S. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Particle Therapy Market Size, Share & Industry Analysis, By Type (Proton Therapy, Heavy Ion Therapy), By Product (Cyclotrons, Synchrotrons, Synchrocyclotrons), By Cancer Type (Pediatric Cancer, Prostate Cancer, Lung Cancer, Breast Cancer, Others) and Regional Forecast, 2020-2027.” The report further states that particle therapy is considered to be one of the most advanced treatment options available for cancer.
The emergence of the COVID-19 pandemic has brought the entire world to a standstill. Several industries are facing immense financial losses owing to the disruptions in supply chains and halt in production processes. Hospitals are running out of beds for coronavirus positive patients. Unless a vaccine is found, nobody knows till when this situation will continue. Our reports provide extensive analysis of every factor that may affect the market positively and negatively. We have also enlisted a few strategies for business growth.
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Drivers & Restraints-
Rising Demand for Effective Therapies to Fight against Cancer will Favor Growth
The increasing need to develop advanced and effective therapies tofight against cancer is one of the most significant particle therapy market growth drivers. Also, several hospitals worldwide are setting up particle therapy systems to provide better care to patients. However, the lack of insurance coverage for particle therapy and various infrastructural challenges may hinder growth.
A list of all the particle therapy providers operating in the global market:
- Varian Medical Systems, Inc.
- Mevion Medical Systems, Inc.
- Provision Healthcare, LLC
- Ion Beam Applications SA
- Sumitomo Heavy Industries, Ltd.
- Optivus Proton Therapy, Inc.
- ProTom International, Inc.
- Advanced Oncotherapy plc
- Other key market players
How Did We Conduct Our Research?
The report involved four notable activities in projecting the current market size. Exhaustive secondary research was conducted to gather data about the parent and peer markets. Our next step included primary research to authenticate these sizing, assumptions, and findings with numerous industry experts. We have also used bottom-up and top-down approaches to calculate the market size.
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Improvements in Healthcare Infrastructure to Bolster Growth in Asia Pacific
Geographically, North America, followed by Europe is set to dominate in the near future by generating the largest particle therapy market share. This growth is attributable to the increasing number of research and development activities occurring in the biotechnology and pharmaceutical sectors.
Asia Pacific, on the other hand, is expected to show considerable growth stoked by the high demand for technologically advanced therapies and the rising prevalence of cancer. At the same time, the ongoing improvements in the healthcare infrastructure, coupled with the increasing mergers and acquisitions between companies would propel growth in India, and China.
Key Players Focus on Partnership Strategy to Co-develop New Therapies
The market for particle therapy contains a large number of big, small, and medium organizations that are mainly striving to compete with their rivals by launching new products. Some of the others are adopting the partnership and collaboration strategy to co-develop unique particle therapies for catering to the increasing need. Below are the two latest industry developments:
- May 2020: Hitachi delivered its state-of-the-art proton therapy system to Clinica Universidad de Navarra, Spain. It is equipped with the novel spot scanning technology that will send a therapeutic proton beam conforming to the shape of the tumor.
- September 2019:Ion Beam Applications S.A. (IBA) unveiled the world’s first cyclotron-based carbon therapy system in France by collaborating with SAPHYN and Normandy.
What are the key segments in the market?
- Proton Therapy
- Heavy Ion Therapy
By Cancer Type
- Paediatric Cancer
- Prostate Cancer
- Lung Cancer
- Breast Cancer
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
With tables and figures helping analyse worldwide Global Particle Therapy Market Forecast provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
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