Particle Therapy Market- Demand, Growth, Opportunities and Analysis of Top Key Player Forecast To 2023

2020 Research Report on Global Particle Therapy Market is a professional and comprehensive report on the Particle Therapy industry.

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Key Players: Ion Beam Applications SA (Belgium), Varian Medical Systems, Inc. (US), Hitachi, Ltd. (Japan), Provision Healthcare (US), Mevion Medical Systems, Inc. (US), Sumitomo Heavy Industries, Ltd. (Japan), Optivus Proton Therapy, Inc. (US), ProTom International, Inc. (US), Advanced Onco therapy Plc. (UK), and Danfysik A/S (Denmark).

"The particle therapy market is projected to grow at a CAGR of 9.3% during the forecast period"

The global particle therapy market is projected to reach USD 1,349 million by 2023 from USD 865 million in 2018, at a CAGR of 9.3%. The growth of this market is largely driven by factors such as the various advantages offered by particle therapy over photon therapy, growing global prevalence of cancer, increasing adoption of particle therapy in clinical trials, and the increasing number of particle therapy centers worldwide.

"The cyclotrons segment is expected to account for the largest market share during the forecast period"

Based on type, the particle therapy products market is segmented into cyclotrons, synchrotrons, and synchro cyclotrons. The cyclotrons segment is expected to account for the largest share of this market in 2018. The development of technologically advanced systems, advantages offered by cyclotrons over other accelerators, and the growing adoption of cyclotrons among users are the major factors driving the growth of this market segment .Further more, the leading player in the particle therapy market with the strongest global footprint--IBA--majorly manufactures cyclotrons. This has greatly boosted the adoption of these products.

"The research applications segment is estimated to grow at the highest rate during the forecast period"

On the basis of application, the particle therapy market has been segmented into treatment and research applications. The research applications segment is estimated to grow at the highest rate during the forecast period due to factors such as the growing awareness about the research applications of particle therapy systems, development of cost-effective and technologically advanced diagnostic and therapeutic particle therapy systems, and the increasing industry-academia collaborations in the field of research.

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"North America to account for the second-largest share of the global market in 2018"

The particle therapy market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World. North America is expected to account for the second-largest share of the global particle therapy market in 2018.Technological advancements in the field of particle therapy, the rising incidence of cancer, easy accessibility to treatments, and the high adoption of advanced diagnostic technologies (owing to the significant per capita annual healthcare expenditure by the US and Canadian governments)are some of the key factors supporting the growth of the North American market. Furthermore, favorable government initiatives that are creating awareness and promoting the adoption of proton therapy among key end users are some of the other major factors driving the growth of the particle therapy market in North America.

Research Coverage

This report studies the particle therapy market based on type, product & service, system, cancer type, application, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions (and the respective countries in these regions).

Key Benefits of Buying the Report

This report focuses on various levels of analysis--industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the particle therapy market, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.

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In the end, the Global Particle Therapy Market report's conclusion part notes the estimation of the industry veterans.

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