Press release
Proton Therapy Market Overview, Segment Forecast 2019 With Mevion Medical Systems, ProTom, Hitachi, IBA Worldwide, Sumitomo Heavy Industries, Varian Medical Systems, Philips, Mitsubishi Electric Corporation, Fermilab, Optivus Proton And More
Proton Therapy Market
Global Proton Therapy Market is expected to rise from its initial estimated value of USD 1.13 billion in 2018 to a projected value of USD 3.56 billion by 2026, registering a CAGR of 15.34% in the forecast period of 2019-2026. This rise in market value can be attributed to growth of the population suffering from cancer.
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Proton therapy is a pharmaceutical technique which involves the treatment of cancerous cells and tumor, it involves the usage of radiation devices and focused radiation therapy along with accelerated protons which act as the radiation source. Through proton therapy, physicians can completely focus the radiation therapy on only the cancerous cells rather than damaging the healthy tissues and organs in close quarters of the targeted area.
Key Market Competitors:
Mevion Medical Systems; ProTom International; Hitachi, Ltd.; IBA Worldwide; Sumitomo Heavy Industries, Ltd.; Varian Medical Systems, Inc.; Koninklijke Philips N.V.; Mitsubishi Electric Corporation; Fermilab; Optivus Proton Therapy, Inc.; Elekta AB (pub); Advanced Oncotherapy; are few of the major competitors present in the market.
Market Drivers
· Increasing investments and funding for advancements in technologies of treatment in cancer treatments as well as increasing the establishment of proton therapy centers; this factor is expected to act as a driver for the market growth
· Innovations and advancements in the therapeutic systems of cancer treatments and advancements in proton therapy product offerings; this factor is expected to act as a driver for the market growth
Market Restraint
· Requirement of large funds initially for establishing and usage of proton therapy is expected to restrain the market growth
Key Developments in the Market:
· In January 2019, Apollo Hospitals Enterprise Ltd. announced the launch of South Asia’s first proton therapy situated in Tamil Nadu, India. The center equipped with pencil-beam scanning technology offering which offers the highest precision of therapy.
· In September 2018, Hitachi, Ltd. announced that they had received an order from Tokushukai Medical Group for usage in Shonan Kamakura Advanced Medical Center for Hitachi’s compact proton therapy system. The dedicated system is expected to be completed by September 2020.
· In January 2018, Hitachi, Ltd. announced that they had received US FDA 510(k) clearance for their commercialization of “Real Time Image Gating System for Proton Beam Therapy Systems”. This clearance will allow for patients in United States to be treated with cutting-edge motion management and enhanced Spot Scanning identification technology
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Global proton therapy market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of proton therapy market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Segmentation: Global Proton Therapy Market
· By Product
o Equipment
o Service
· By Type
o Electron Beam
o Proton Beam
o Neutron Beam
o Carbon Ion Beam
o Alpha Particle Beam
o Beta Particle Beam
· By Set-Up Systems
o Single-Room Systems
o Multi-Room Systems
o Compact Systems
· By Indication
o Pediatric Cancer
o Pelvic Cancer
o Sarcoma
o Prostate Cancer
o Lung Cancer
o Bone & Soft Tissue Cancer
o Gastro-Intestinal Cancer
o Liver Cancer
o Brain Tumor
o Central Nervous System
o Eye Cancer
o Head & Neck Cancer
o Others
• Renal Cell Carcinoma
• Cervical
• Gastric
• Lymphoma
· By End-User
o Hospitals
o Ambulatory Surgical Centers
o Others
· By Geography
o North America
• US.
• Canada
• Mexico
o South America
• Brazil
• Argentina
• Rest of South America
o Europe
• France
• United Kingdom
• Italy
• Spain
• Russia
• Turkey
• Belgium
• Netherlands
• Switzerland
• Rest of Europe
o Asia-Pacific
• Japan
• China
• South Korea
• India
• Australia
• Singapore
• Thailand
• Malaysia
• Indonesia
• Philippines
• Rest of Asia Pacific
o Middle East & Africa
• South Africa
• Egypt
• Saudi Arabia
• United Arab Emirates
• Israel
• Rest of Middle East & Africa
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