Press release
The Proton Therapy Systems Market to grace digital transformation curve at a CAGR of 15.2%
The global proton therapy systems market is expected to grow significantly in the coming years. The market is driven by a number of factors, including the increasing prevalence of cancer, the rising demand for advanced and more precise forms of radiation therapy, and the favorable reimbursement policies for proton therapy in certain regions.
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Company Profiles
Hitachi Ltd.
Ion Beam Applications SA
Mevion Medical Systems
Mitsubishi Electric Corporation
ProNova Solutions, LLC
ProTom International
Sumitomo Heavy Industries Ltd.
Varian Medical Systems
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Factors as such continue to promote the adoption of proton therapy for curing cancerous abnormalities. Persistence Market Research projects that by the end of 2024, the global market for proton therapy will bring in more than US$ 2,926.7 Mn in revenues.
In the report, titled "Proton Therapy Market: Global Industry Analysis and Forecast, 2016-2024," the global market for proton therapy is presently valued at closed to US$ 945 Mn and is projected to soar at a healthy CAGR of 15.2%.
The report estimates that governments from all corners of the globe will continue to shore up their healthcare expenditure on cancer care facilities, which will incidentally boost the revenues in global proton therapy market. Additional benefits of availing proton therapy, compared to chemotherapy or radiation therapy, will also instrument a steadfast revenue growth for the market.
Based on a regional analysis compiled in the report, North America is projected to account for a little less than one-third share of global proton therapy revenues throughout the forecast period. However, Europe's proton therapy market will dominate with close to 38% share and showcase revenue growth at 15.7% CAGR.
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Key highlights of the research report on global proton therapy market follow:
The market is likely to benefit from companies manufacturing compact set up used in proton beam therapy, which help in saving production costs without impairing product efficacy
Based on such set ups, multiple-room proton therapy will gain traction by accounting for more than three-fourth of global revenues towards the end of forecast period
Among multiple cancer indications, the adoption of proton therapy will be relatively higher for treatment of lung cancer, gastro-intestinal cancer, pediatric cancer, head & neck cancer
Flexible payment options are also boosting the supply of proton therapy devices, while affordability of such devices continues to be a major challenge
The report also predicts that the demand for proton therapy will be impacted by the therapy's side-effects which include fatigue, skin irritation, swelling and skin blistering
Nonetheless, the market will witness opportunistic growth in terms of rising preference to non-invasive treatment of cancerous tumors
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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