Particle Therapy Market Size, Share and Scope Analysis to 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Particle Therapy Market- (By Type (Proton Type, Heavy Ion Therapy), By Product & Service (Cyclotrons, Synchrotrons, Synchrocyclotrons), By System (Multi-Room Systems, Single-Room Systems), By Cancer Type (Pediatric Cancer, Prostate Cancer, Lung Cancer, Breast Cancer, Head & Neck Cancer, Others), By Application (App Treatment, Research Applications)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global Particle Therapy Market is valued at US$ 654.17 Mn in 2022, and it is expected to reach US$ 1,391.14 Mn by 2031, with a CAGR of 9.0% during a forecast period of 2023-2031

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Cancer and non-cancerous illnesses are treated with particle therapy, a sophisticated radiation therapy. Unlike traditional radiation therapy, particle treatment uses protons or heavy ions (carbon, helium) to precisely target and destroy cancer cells. Controlling charged particle energy and penetration depth achieves precision.

Particle therapy, particularly proton therapy, has significant advantages over photon therapy. These advantages are pushing the expansion of this market, particularly in mature economies where technologically advanced items are widely used. Some advantages of particle therapy over typical photon-based radiation approaches are listed below. Growing economic development and rising healthcare spending in several emerging countries, including China, India, Brazil, and Mexico, are expected to enhance access to quality healthcare. This is expected to propel the particle therapy market.

The increased cancer prevalence in these countries drives the demand for various particle therapy technologies and methodologies. The growing need for innovative medicines effective against cancer treatment drives the global particle therapy market. Furthermore, the rising cancer cases and the increasing number of particle therapy centres are expected to contribute to the global market's growth.

List of Prominent Players in the Particle Therapy Market:
• Advanced Oncotherapy plc
• Danfysik A/S
• Hitachi, Ltd.
• IBA Worldwide
• Ion Beam Applications SA
• Mevion Medical Systems, Inc.
• Optivus Proton Therapy, Inc.
• ProTom International, Inc.
• Provision Healthcare, LLC
• Sumitomo Heavy Industries, Ltd.
• Toshiba Medical Systems Corporation
• Varian Medical Systems, Inc

Market Dynamics:

Drivers-
Rising cancer prevalence worldwide is a critical factor driving market growth, as is the rising adoption of particle therapy in clinical trials, the rising number of particle therapy centers worldwide, rising cancer occurrences, increasing investment in cancer research, and the rising number of particle therapy centers & clinical trials, among other factors driving the particle therapy market. Furthermore, rising technological improvements and modernization in healthcare machinery, rising R&D efforts in the healthcare sector, and rising emerging economies with an increasing elderly population base would generate new prospects for the particle therapy market.

Challenges:
Particle therapy devices are expensive and require sophisticated infrastructure to install. Due to this equipment (including cyclotrons and synchrotrons) are larger than photon therapy systems, they require more space to be installed. The cost of particle systems per treatment remains two to three times that of traditional radiation, and insurance companies frequently deny reimbursement. Healthcare facilities that purchase such expensive systems frequently rely on third-party payers (like Medicare, Medicaid, or commercial health insurance plans) to recoup the expenses of therapeutic operations conducted with these systems. Furthermore, healthcare facilities with limited resources cannot buy such costly systems and must settle for reconditioned systems, reducing the development and demand for new particle therapy systems.

Regional Trends:
The North America Particle Therapy Market is expected to record a major market share and it is projected to grow at a high CAGR in the near future. Due to the increased use of particle therapy in clinical trials, an increase in the number of particle therapy centers worldwide, an increase in cancer occurrences, an increase in cancer research funding, and an increase in the number of particle therapy centers & clinical trials in this region. Asia-Pacific is likely to lead the particle therapy market growth because of rising per capita income, improved healthcare infrastructure, and increased government backing in countries such as China, Japan, and India.

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Recent Developments:

• In July 2023, Advanced Oncotherapy aimed to raise up to GBP110 Mn. Advanced Oncotherapy said that the plan was still in the early stages. It was stated that it depended on a number of conditions being met and on different documents being negotiated, agreed upon, and signed.
• In May 2020, Hitachi, Ltd. disclosed the provision of its state-of-the-art proton therapy system to Clinica Universidad de Navarra in Madrid, Spain, with treatment commencing in the year 2020. Hitachi has promoted its particle treatment system business worldwide, delivering world-class hospitals with its reliable and proven systems that have treated over 60,000 patients.

Segmentation of Particle Therapy Market-
By Type-
• Proton Type
• Heavy Ion Therapy

By Product & Service-
• Products
o Cyclotrons
o Synchrotrons
o Synchrocyclotrons
• Services

By System-
• Multi-Room Systems
• Single-Room Systems)

By Cancer Type-
• Pediatric Cancer
• Prostate Cancer
• Lung Cancer
• Breast Cancer
• Head & Neck Cancer
• Others

By Application-
• App Treatment
• Research Applications

By Region-
North America-
• The US
• Canada
• Mexico

Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis of key market insights in a timely and cost-effective manner.

This release was published on openPR.